Graphene-based materials have great potential for tribological applications. Graphene’s unique properties such as low shear resistance, high stiffness, and thermal conductivity make it an attractive material for improving the properties of lubricants in a wide range of industrial applications, from vehicles to house refrigerators and industrial machinery such as gearboxes, large compressors, etc. The current review aims to give an engineering perspective, attributing more importance to commercially available graphene and fully formulated lubricants instead of laboratory-scaled produced graphene and base oils without additives. The use of lubricants with graphene-based additives has produced e.g., an increase in mechanical efficiency, consequently reducing energy consumption and CO₂ emissions by up to 20% for domestic refrigerators and up to 6% for ICE vehicles. Potential effects, other than purely friction reduction, contributing to such benefits are also briefly covered and discussed.