Global Automotive Engine Oil Market, By Type (Conventional Engine Oil, Synthetic Engine Oil, Synthetic Blend Oil, High-Mileage Engine Oil), Sales Channel (OEM, Aftermarket), Engine Type (Gasoline, Diesel, Alternative Fuel), Vehicle Type (Passenger Cars, LCVs, Motorcycles), Grade (Mineral, Synthetic, Semi-Synthetic) - Industry Trends and Forecast to 2029.
Market Analysis and Size
Automotive engine oil assist in preserving gap between both the cylinder walls and engine that provides stronger fuel combustion. The oil is known to polish all of the working components of an electrical motor for delivering rust protection.
Automotive engine oil prevents oxidation and rusting in metallic materials. The automotive engine oil market was valued at USD 37.80 billion in 2021 and is expected to reach USD 58.11 billion by 2029, registering a CAGR of 5.30% during the forecast period of 2022-2029. “Passenger Cars” accounts for the largest vehicle type segment in the respective market owing to the high consumer preference for economic vehicles. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Market Definition
Automotive engine oil is used in the transmission chamber and engine of the vehicle to curtail the friction between the components of the engine assembly and transmission. The marginal function of the engine oil is to prolong the temperature of the engine chamber and prevent the rusting of engine parts because of oxidation. These oils are derived from petroleum that is further processed to enhance the quality of the engine oil.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Forecast Period
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2022 - 2029
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Conventional Engine Oil, Synthetic Engine Oil, Synthetic Blend Oil, High-Mileage Engine Oil), Sales Channel (OEM, Aftermarket), Engine Type (Gasoline, Diesel, Alternative Fuel), Vehicle Type (Passenger Cars, LCVs, Motorcycles), Grade (Mineral, Synthetic, Semi-Synthetic)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa
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Market Players Covered
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Motul (France), Petroliam Nasional Berhad (Malaysia), ExxonMobil (US), Royal Dutch Shell (UK), Total S.A. (France), Fuchs Group (Germany), Petronas Lubricant International Sdn Bhd (Malaysia), Amsoil Inc (US), CASTROL LIMITED (UK), Chevron Corporation (US), Oryx Energies SA (Switzerland), KenolKobil Ltd. (Kenya), Sinopec (China), Pennzoil (US), Equilon Enterprises (US), and Lukoil and Idemitsu Kosan Co.,Ltd (Japan), among others
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Market Opportunities
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Automotive Engine Oil Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers:
- Growth in the Automotive Industry
The rise in automotive industry across the globe acts as one of the major factor driving the growth of automotive engine oil market. The widespread adoption of spark plugs for electrical, marine and aerospace applications has a positive impact on the market.
- Increased Vehicle Production
The increase in the demand for high performance and reliability of automobiles among consumers accelerate the market growth. The rise in demand for these enhanced vehicles escalate vehicle production.
- High Demand for Conventional Oil
The increase in the demand for conventional oil as it is cheaper as compared to modern lubes further influence the market. The synthetic lubes are popular owing to their excellent protection and better performance for a longer period.
Additionally, expansion of the automotive sector, surge in investments and increased disposable income positively affect the automotive engine oil market.
Opportunities
Furthermore, development of vehicle engines and synthetic engine oil extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, rise in consumer awareness for fuel-efficiency and high-performance variants further escalate the growth of automotive engine oil market.
Restraints/Challenges faced by the Automotive Engine Oil Market
On the other hand, high cost associated with the production and manufacturing of automotive engines, and presence of low-price engine oil substitutes are expected to obstruct market growth. Also, rise in preference of society for electric vehicles that do not contain engines is projected to challenge the automotive engine oil market in the forecast period of 2022-2029.
This automotive engine oil market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the automotive engine oil market contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.
COVID-19 had a Major Impact on Automotive Engine Oil Market
The COVID-19 had a negative impact on the automotive engine oil market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand for automotive engine oil market. The supply chain got hampered during the pandemic along with delay logistics activities. However, the automotive engine oil market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.
Recent Developments
- Honda Motorcycle & Scooter India partnered with Repsol Lubricants in November’2020. The purpose of the partnership is the establishment of the Honda Repsol MOTO BIKER & MOTO SCOOTER lubricating oils in India.
Global Automotive Engine Oil Market Scope
The automotive engine oil market is segmented on the basis of type, sales channel, engine type, vehicle type and grade. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Conventional Engine Oil
- Synthetic Engine Oil
- Synthetic Blend Oil
- High-Mileage Engine Oil
Sales Channel
- OEM
- Aftermarket
Engine Type
- Gasoline
- Diesel
- Alternative Fuel
Vehicle Type
- Passenger Cars
- LCVs
- Motorcycles
Grade
- Mineral
- Synthetic
- Semi-Synthetic
Automotive Engine Oil Market Regional Analysis/Insights
The automotive engine oil market is analyzed and market size insights and trends are provided by country, type, sales channel, engine type, vehicle type and grade.
The countries covered in the automotive engine oil market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific (APAC) dominates the automotive engine oil market because of the rise in product demand from developing economies and enhanced product quality and performance due to stringent regulations within the region.
Europe is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increased consumer awareness in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Engine Oil Market Share Analysis
The automotive engine oil market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to automotive engine oil market.
Some of the major players operating in the automotive engine oil market are
- Motul (France)
- Petroliam Nasional Berhad (Malaysia)
- ExxonMobil (US)
- Royal Dutch Shell (UK)
- Total S.A. (France)
- Fuchs Group (Germany)
- Petronas Lubricant International Sdn Bhd (Malaysia)
- Amsoil Inc (US)
- CASTROL LIMITED (UK)
- Chevron Corporation (US)
- Oryx Energies SA (Switzerland)
- KenolKobil Ltd. (Kenya)
- Sinopec (China)
- Pennzoil (US)
- Equilon Enterprises (US)
- Lukoil and Idemitsu Kosan Co.,Ltd (Japan)
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