Automotive Engine Oil Market

Global Automotive Engine Oil Industry Analysis, Size, Share, Growth, Trends, and Forecast 2024-2031 - (By Grade Coverage, By Engine Type Coverage, By Vehicle Type Coverage, By Geographic Coverage and By Company)

Published Date: Apr 2024 | Format: | No. of Pages: 192

Industry: Automotive & Transport


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Global Automotive Engine Oil Market Forecast

• Global automotive engine oil market size to reach US$55 Bn in 2031, up from US$42.9 Bn estimated to be attained in 2024
• Market revenue projected to exhibit a remarkable rate of expansion, at an estimated CAGR of 3.61% during 2024 - 2031

Automotive Engine Oil Market, Snapshot, 2024 - 2031

Quick Report Digest

  • Global automotive engine oil market forecasted to reach US$55 Bn by 2031, with a projected CAGR of 3.61% during 2024-2031.
  • Growth attributed to increasing vehicle owners hip, particularly in emerging economies, and the popularity of high-mileage vehicles driving demand for synthetic oils.
  • Challenges include the rising adoption of electric vehicles (EVs) reducing demand for engine oil and fluctuating raw material prices impacting production costs.
  • Market projected to maintain moderate growth trajectory, driven by stricter emission regulations and growing awareness of preventive maintenance.
  • Key growth determinants include expanding vehicle ownership, advancements in the automotive industry, and stringent emission regulations.
  • Shift towards synthetic and high-performance engine oils and focus on sustainability are notable trends.
  • Opportunities lie in expanding presence in emerging markets and diversifying into EV lubricants and services.
  • Regulatory scenario presents both opportunities and challenges, demanding adaptability from industry players.
  • Top segments include synthetic engine oil, passenger vehicle, and commercial vehicle segments.
  • Leaders in the global automotive engine oil space include Saudi Arabian Oil Co., Total S.A, Exxon Mobil Corporation, BP p.l.c, and Chevron Corporation.

A Look Back and a Look Forward - Comparative Analysis

The global automotive engine oil market experienced a steady climb from 2019 to 2023, with a projected value of $40.5 billion in 2021. This growth was fueled by several factors. Firstly, the surging sales of automobiles, particularly in developing nations, created a larger consumer base for engine oil. Secondly, the increasing popularity of high-mileage vehicles and longer drain intervals between oil changes drove demand for synthetic oils, which offer superior performance compared to traditional mineral oils. These synthetic oils boast better fuel efficiency, reduced oil consumption, and extended engine life.

However, the market isn't without challenges. The rising adoption of electric vehicles (EVs), which don't require engine oil, poses a threat to long-term growth. Additionally, the market grapples with fluctuating raw material prices, impacting production costs.

The market is expected to maintain a moderate growth trajectory, with a projected CAGR of 3%. This continued expansion can be attributed to factors like stricter emission regulations prompting a shift towards high-performance synthetic oils. Moreover, growing awareness of preventive maintenance, including regular oil changes, will likely contribute to market growth.

Overall, the automotive engine oil market presents a picture of a mature industry navigating a changing automotive landscape. While the rise of EVs presents a hurdle, the market's reliance on internal combustion engines for the foreseeable future, coupled with the growing demand for high-performance lubricants, suggests a period of stable growth in the coming years.

Automotive Engine Oil Market, US$ Bn, 2024 - 2031

Key Growth Determinants

  • Increasing Vehicle Ownership and Vehicle Fleet

The automotive engine oil market is fueled by the rise in vehicle ownership globally, especially in emerging economies. As more consumers purchase vehicles for personal and commercial use, there is a corresponding demand for engine oil for regular maintenance and lubrication needs. Additionally, the expanding vehicle fleet, including cars, trucks, and other automobiles, further propels the demand for engine oil products.

  • Growing Automotive Industry, and Technological Advancements

The automotive industry's continuous growth, driven by technological advancements and innovation, contributes significantly to the engine oil market. Advancements such as the development of high-performance engines, turbocharged engines, and electric vehicles with specialised lubrication requirements stimulate the demand for advanced engine oil formulations tailored to meet these specific needs, driving market growth.

  • Stringent Emission Regulations, and Maintenance Awareness

Increasing environmental concerns and stringent emission regulations worldwide have led to heightened awareness among vehicle owners regarding regular maintenance and lubrication practices. Engine oil plays a crucial role in maintaining engine efficiency and reducing emissions. Compliance with these regulations necessitates the use of high-quality engine oils that enhance fuel efficiency and prolong engine life, thereby fostering market growth as consumers prioritise eco-friendly and efficient lubrication solutions.

Major Growth Barriers

  • Shift Towards Electric Vehicles (EVs)

The rising popularity of electric vehicles poses a significant restraint on the automotive engine oil market. As more consumers opt for EVs, which require minimal or no traditional lubrication, the demand for engine oil diminishes, impacting market growth. This shift reduces the potential customer base for engine oil products, especially in the long term.

  • Improved Engine Durability and Extended Oil Change Intervals

Technological advancements in engine design and materials, coupled with improvements in lubrication formulations, have led to extended oil change intervals and increased engine durability. While beneficial for consumers in terms of reduced maintenance costs, this trend reduces the frequency of engine oil purchases, thus restraining market growth.

  • Environmental Concerns and Regulatory Pressures

Heightened environmental concerns and stricter regulations on emissions and waste disposal impact the automotive engine oil market. Regulations promoting the use of eco-friendly and bio-based lubricants, along with disposal restrictions on conventional engine oils, pose challenges for manufacturers, affecting market growth and profitability.

Key Trends and Opportunities to Look at

  • Shift Towards Synthetic and High-Performance Engine Oils

Recent market trends indicate a significant shift towards synthetic and high-performance engine oils. Synthetic oils offer superior lubrication properties, better viscosity control, and improved resistance to thermal breakdown compared to conventional mineral oils. As vehicle manufacturers increasingly recommend or require synthetic oils for their modern engines, consumer preferences have shifted accordingly. Moreover, the demand for high-performance engine oils has surged due to the growing popularity of turbocharged engines, direct fuel injection systems, and hybrid powertrains, which require specialised lubricants to maintain optimal performance and efficiency.

  • Focus on Sustainability and Environmental Responsibility

Another notable trend in the automotive engine oil market is the growing emphasis on sustainability and environmental responsibility. Both consumers and regulatory bodies are increasingly prioritising eco-friendly and bio-based lubricants that minimise environmental impact throughout their lifecycle, from production to disposal. Market players are responding by investing in research and development to formulate lubricants with renewable and biodegradable components, as well as exploring innovative recycling and waste management solutions to minimise the environmental footprint of their products.

  • Expansion in Emerging Markets

One of the biggest potential opportunities for automotive engine oil market players lies in expanding their presence in emerging markets. Countries in Asia Pacific, Latin America, and Africa are experiencing rapid urbanisation, industrialisation, and economic growth, leading to an increase in vehicle ownership and demand for automotive lubricants. By establishing strong distribution networks, local partnerships, and tailored marketing strategies, market players can capitalise on the burgeoning demand in these regions and gain a competitive edge.

  • Diversification into Electric Vehicle Lubricants and Services

With the growing adoption of electric vehicles (EVs), there is a burgeoning opportunity for automotive engine oil market players to diversify into EV lubricants and related services. Although EVs eliminate the need for traditional engine oils, they still require specialised lubricants for components such as bearings, gears, and electric motors. By developing lubrication solutions tailored to the unique requirements of EVs, such as thermal management and friction reduction, market players can tap into this nascent but rapidly expanding segment of the automotive market and position themselves as leaders in sustainable mobility solutions. Additionally, offering maintenance and servicing for EVs could further enhance revenue streams and customer loyalty.

Automotive Engine Oil Market DROs

How Does the Regulatory Scenario Shape this Industry?

The regulatory environment in the automotive engine oil market acts like a double-edged sword. Stricter emission standards, while pushing the industry towards electric vehicles (a threat to overall demand), also act as a major growth driver for high-performance synthetic oils. These regulations incentivise the use of synthetics due to their ability to minimise friction and improve fuel efficiency, ultimately aiding emission reduction. This focus on clean technology fosters innovation in the lubricant industry, as manufacturers constantly reformulate engine oils to meet evolving regulations. However, these regulations also present challenges. Compliance often translates to higher production costs, impacting consumer prices. Additionally, the rapid pace of regulatory changes can create market uncertainty, making manufacturers hesitant to invest heavily in new formulations if significant revisions are expected soon. Thus, the regulatory scenario presents both opportunities and challenges, demanding adaptability from the engine oil industry to navigate this complex landscape.

Fairfield’s Ranking Board

Top Segments

  • Synthetic Engine Oils Represent the Leading Market Segment

The synthetic engine oil segment is witnessing robust growth due to increasing demand for high-performance lubricants. Synthetic oils offer superior protection against engine wear, better viscosity stability, and improved fuel efficiency compared to conventional mineral oils. As automotive manufacturers continue to develop engines with advanced technologies such as turbocharging and direct injection, the need for synthetic lubricants that can meet these stringent requirements is escalating.

  • Passenger Vehicles Create the Maximum Adoption Opportunity

The passenger vehicle segment remains a top-performing segment in the automotive engine oil market due to the continuous increase in vehicle ownership rates globally. As urbanisation, improving economic conditions, and changing lifestyles drive the demand for personal transportation, the number of passenger vehicles on the roads is growing steadily. This translates to a consistent need for engine oils for routine maintenance and lubrication, sustaining the demand within this segment.

  • Commercial Vehicles Remain the Most Lucrative Category

The commercial vehicle segment is experiencing significant growth driven by increasing demand from fleet operators. With expanding eCommerce, logistics, and transportation industries, there is a growing need for commercial vehicles to facilitate the movement of goods and passengers. Fleet operators prioritise regular maintenance to ensure the reliability and efficiency of their vehicles, resulting in a consistent demand for engine oils for lubrication and preventive maintenance purposes.

Commercial vehicle operators place a high emphasis on engine efficiency and longevity to maximise vehicle uptime and minimise operational costs. As a result, there is a growing preference for high-quality engine oils that offer superior protection against wear, deposits, and thermal breakdown. Engine oils with extended drain intervals and improved fuel efficiency characteristics are particularly sought after in the commercial vehicle segment, driving the adoption of advanced lubrication solutions.

Regional Frontrunners

  • Asia Pacific Provides the Largest Consumer Base

The Asia Pacific region holds the largest market share, driven by a massive consumer base. Countries like China, and India boast a huge number of vehicles on the road, including two-wheelers in India. This translates to high engine oil consumption. Additionally, APAC is witnessing rapid growth in vehicle production, further fuelling the market.

Automotive Engine Oil Market Regional Outlook, 2024 - 2031

  • North America Expects Gains from Higher Commercial Vehicle Uptake in Logistics

This region ranks second with significant market size. The demand for engine oil is driven by factors like the rising popularity of commercial vehicles used in eCommerce and logistics. Furthermore, the extensive use of on-road diesel-powered vehicles necessitates substantial engine oil consumption. North America also benefits from government support for energy-saving engine oils, promoting market growth.

Fairfield’s Competitive Landscape Analysis

The competition landscape of the automotive engine oil market is characterised by intense rivalry among key players striving to gain a competitive edge through product differentiation, innovation, strategic partnerships, and market expansion. Leading players in the market include multinational corporations such as Exxon Mobil Corporation, Royal Dutch Shell PLC, Chevron Corporation, BP plc, and TotalEnergies SE. These companies dominate the market with their extensive product portfolios, global distribution networks, and strong brand recognition.

To maintain their market positions and drive growth, key companies employ various growth strategies, including new product launches featuring advanced formulations and improved performance characteristics tailored to meet evolving industry standards and consumer preferences. Additionally, strategic collaborations and partnerships with automotive manufacturers and original equipment suppliers enable market players to secure lucrative contracts and gain access to new markets. Moreover, investments in research and development initiatives aimed at enhancing product innovation and sustainability further contribute to strengthening competitive advantage and fostering long-term growth prospects in the automotive engine oil market.

Who are the Leaders in Global Automotive Engine Oil Space?

Significant Company Developments

  • October 2023:

    In a significant move, a leading automotive engine oil manufacturer introduced a groundbreaking synthetic blend formula tailored for high-performance engines. This innovation aims to address the increasing demand for lubricants that enhance engine efficiency and longevity. With advanced additives targeting friction reduction and thermal stability, this product promises improved fuel economy and prolonged engine life, catering to the evolving needs of modern vehicles.

  • December 2023:

    A prominent automotive engine oil producer struck a strategic distribution partnership with a global retail giant, expanding its market reach across key regions. This agreement leverages the retailer's extensive network and customer base, ensuring broader accessibility to high-quality lubricants. By aligning distribution channels efficiently, both parties aim to capitalize on emerging opportunities and strengthen their positions in the competitive automotive lubricants market.

  • February 2024:

    Responding to environmental concerns and regulatory shifts, a renowned engine oil manufacturer unveiled a revolutionary bio-based lubricant line. Formulated from sustainable sources, these eco-friendly oils offer comparable performance to traditional counterparts while reducing carbon footprint. With growing emphasis on sustainability in automotive industries, this launch represents a proactive step towards greener solutions. By pioneering bio-based alternatives, the company not only addresses consumer preferences but also demonstrates commitment towards environmental stewardship in the automotive lubricants sector.

An Expert’s Eye

  • Rising Vehicle Ownership: With increasing vehicle ownership worldwide, particularly in emerging markets, there is a corresponding surge in the demand for automotive engine oils. As more vehicles hit the roads, the need for regular maintenance and lubrication becomes imperative, propelling the market growth.

  • Technological Advancements: Ongoing advancements in automotive technology, including the development of high-performance engines and stringent emission standards, necessitate specialized engine oils. Manufacturers are continually innovating to meet these evolving requirements, driving product diversification and market expansion.

  • Environmental Regulations: Stringent environmental regulations mandating the use of low-emission vehicles and eco-friendly lubricants are reshaping the automotive engine oil market landscape. Companies are investing in research and development to formulate environmentally sustainable oils, anticipating increased demand from environmentally conscious consumers and regulatory compliance.

  • Market Fragmentation: The automotive engine oil market is characterized by a diverse range of players, from multinational corporations to regional and niche manufacturers. This fragmentation fosters intense competition and innovation, driving product development and market growth.

  • Growing Vehicle Fleet Age: As the average age of vehicles on the road increases globally, there is a heightened need for maintenance and lubrication products to ensure optimal engine performance and longevity. This trend contributes to sustained demand for automotive engine oils.

The Global Automotive Engine Oil Market is Segmented as Below:

By Grade

  • Mineral
  • Synthetic
  • Semi-Synthetic

By Engine Type

  • Gasoline
  • Diesel

By Vehicle Type

  • Passenger Vehicle
  • Heavy Commercial Vehicle
  • Light Commercial Vehicle
  • Two Wheelers

By Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

1. Executive Summary
    1.1. Global Automotive Engine Oil Market Snapshot
    1.2. Future Projections
    1.3. Key Market Trends
    1.4. Regional Snapshot, by Value, 2023
    1.5. Analyst Recommendations


2. Market Overview
    2.1. Market Definitions and Segmentations
    2.2. Market Dynamics
       2.2.1. Drivers
       2.2.2. Restraints
       2.2.3. Market Opportunities
    2.3. Value Chain Analysis
    2.4. Porter’s Five Forces Analysis
    2.5. COVID-19 Impact Analysis
       2.5.1. Supply
       2.5.2. Demand
    2.6. Impact of Ukraine-Russia Conflict
    2.7. Economic Overview
       2.7.1. World Economic Projections
    2.8. PESTLE Analysis


3. Production Output and Trade Statistics, 2019-2023
    3.1. Global Automotive Engine Oil Market, Production Output, by Region, 2019 - 2023
       3.1.1. North America
       3.1.2. Europe
       3.1.3. Asia Pacific
       3.1.4. Latin America
       3.1.5. Middle East & Africa

4. Production Output and Trade Statistics, 2019-2023
    4.1. Key Highlights
    4.2. Global Average Price Analysis, by Grade/Engine Type/Vehicle Type, US$ per Ton
    4.3. Prominent Factors Affecting Automotive Engine Oil Market Prices
    4.4. Global Average Price Analysis, by Region, US$ per Ton

 

5. Global Automotive Engine Oil Market Outlook, 2019 - 2031
    5.1. Global Automotive Engine Oil Market Outlook, by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       5.1.1. Key Highlights
             5.1.1.1. Mineral
             5.1.1.2. Semi-synthetic
             5.1.1.3. Fully-synthetic
    5.2. Global Automotive Engine Oil Market Outlook, by Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       5.2.1. Key Highlights
             5.2.1.1. Gasoline
             5.2.1.2. Diesel
             5.2.1.3. Alternative Fuels
    5.3. Global Automotive Engine Oil Market Outlook, by Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       5.3.1. Key Highlights
             5.3.1.1. Passenger Car
             5.3.1.2. LCV
             5.3.1.3. HCV
    5.4. Global Automotive Engine Oil Market Outlook, by Region, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       5.4.1. Key Highlights
             5.4.1.1. North America
             5.4.1.2. Europe
             5.4.1.3. Asia Pacific
             5.4.1.4. Latin America
             5.4.1.5. Middle East & Africa


6. North America Automotive Engine Oil Market Outlook, 2019 - 2031
    6.1. North America Automotive Engine Oil Market Outlook, by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       6.1.1. Key Highlights
             6.1.1.1. Mineral
             6.1.1.2. Semi-synthetic
             6.1.1.3. Fully-synthetic
    6.2. North America Automotive Engine Oil Market Outlook, by Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       6.2.1. Key Highlights
             6.2.1.1. Gasoline
             6.2.1.2. Diesel
             6.2.1.3. Alternative Fuels
    6.3. North America Automotive Engine Oil Market Outlook, by Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       6.3.1. Key Highlights
             6.3.1.1. Passenger Car
             6.3.1.2. LCV
             6.3.1.3. HCV
       6.3.2. BPS Analysis/Market Attractiveness Analysis
    6.4. North America Automotive Engine Oil Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       6.4.1. Key Highlights
             6.4.1.1. U.S. Automotive Engine Oil Market by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             6.4.1.2. U.S. Automotive Engine Oil Market Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             6.4.1.3. U.S. Automotive Engine Oil Market Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             6.4.1.4. Canada Automotive Engine Oil Market by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             6.4.1.5. Canada Automotive Engine Oil Market Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             6.4.1.6. Canada Automotive Engine Oil Market Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       6.4.2. BPS Analysis/Market Attractiveness Analysis


7. Europe Automotive Engine Oil Market Outlook, 2019 - 2031
    7.1. Europe Automotive Engine Oil Market Outlook, by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       7.1.1. Key Highlights
             7.1.1.1. Mineral
             7.1.1.2. Semi-synthetic
             7.1.1.3. Fully-synthetic
    7.2. Europe Automotive Engine Oil Market Outlook, by Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       7.2.1. Key Highlights
             7.2.1.1. Gasoline
             7.2.1.2. Diesel
             7.2.1.3. Alternative Fuels
    7.3. Europe Automotive Engine Oil Market Outlook, by Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       7.3.1. Key Highlights
             7.3.1.1. Passenger Car
             7.3.1.2. LCV
             7.3.1.3. HCV
       7.3.2. BPS Analysis/Market Attractiveness Analysis
    7.4. Europe Automotive Engine Oil Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       7.4.1. Key Highlights
             7.4.1.1. Germany Automotive Engine Oil Market by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.2. Germany Automotive Engine Oil Market Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.3. Germany Automotive Engine Oil Market Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.4. U.K. Automotive Engine Oil Market by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.5. U.K. Automotive Engine Oil Market Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.6. U.K. Automotive Engine Oil Market Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.7. France Automotive Engine Oil Market by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.8. France Automotive Engine Oil Market Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.9. France Automotive Engine Oil Market Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.10. Italy Automotive Engine Oil Market by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.11. Italy Automotive Engine Oil Market Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.12. Italy Automotive Engine Oil Market Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.13. Turkey Automotive Engine Oil Market by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.14. Turkey Automotive Engine Oil Market Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.15. Turkey Automotive Engine Oil Market Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.16. Russia Automotive Engine Oil Market by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.17. Russia Automotive Engine Oil Market Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.18. Russia Automotive Engine Oil Market Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.19. Rest of Europe Automotive Engine Oil Market by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.20. Rest of Europe Automotive Engine Oil Market Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             7.4.1.21. Rest of Europe Automotive Engine Oil Market Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       7.4.2. BPS Analysis/Market Attractiveness Analysis


8. Asia Pacific Automotive Engine Oil Market Outlook, 2019 - 2031
    8.1. Asia Pacific Automotive Engine Oil Market Outlook, by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       8.1.1. Key Highlights
             8.1.1.1. Mineral
             8.1.1.2. Semi-synthetic
             8.1.1.3. Fully-synthetic
    8.2. Asia Pacific Automotive Engine Oil Market Outlook, by Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       8.2.1. Key Highlights
             8.2.1.1. Gasoline
             8.2.1.2. Diesel
             8.2.1.3. Alternative Fuels
    8.3. Asia Pacific Automotive Engine Oil Market Outlook, by Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       8.3.1. Key Highlights
             8.3.1.1. Passenger Car
             8.3.1.2. LCV
             8.3.1.3. HCV
       8.3.2. BPS Analysis/Market Attractiveness Analysis
    8.4. Asia Pacific Automotive Engine Oil Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       8.4.1. Key Highlights
             8.4.1.1. China Automotive Engine Oil Market by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.2. China Automotive Engine Oil Market Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.3. China Automotive Engine Oil Market Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.4. Japan Automotive Engine Oil Market by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.5. Japan Automotive Engine Oil Market Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.6. Japan Automotive Engine Oil Market Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.7. South Korea Automotive Engine Oil Market by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.8. South Korea Automotive Engine Oil Market Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.9. South Korea Automotive Engine Oil Market Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.10. India Automotive Engine Oil Market by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.11. India Automotive Engine Oil Market Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.12. India Automotive Engine Oil Market Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.13. Southeast Asia Automotive Engine Oil Market by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.14. Southeast Asia Automotive Engine Oil Market Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.15. Southeast Asia Automotive Engine Oil Market Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.16. Rest of Asia Pacific Automotive Engine Oil Market by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.17. Rest of Asia Pacific Automotive Engine Oil Market Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             8.4.1.18. Rest of Asia Pacific Automotive Engine Oil Market Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       8.4.2. BPS Analysis/Market Attractiveness Analysis


9. Latin America Automotive Engine Oil Market Outlook, 2019 - 2031
    9.1. Latin America Automotive Engine Oil Market Outlook, by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       9.1.1. Key Highlights
             9.1.1.1. Mineral
             9.1.1.2. Semi-synthetic
             9.1.1.3. Fully-synthetic
    9.2. Latin America Automotive Engine Oil Market Outlook, by Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       9.2.1. Key Highlights
             9.2.1.1. Gasoline
             9.2.1.2. Diesel
             9.2.1.3. Alternative Fuels
    9.3. Latin America Automotive Engine Oil Market Outlook, by Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       9.3.1. Key Highlights
             9.3.1.1. Passenger Car
             9.3.1.2. LCV
             9.3.1.3. HCV
       9.3.2. BPS Analysis/Market Attractiveness Analysis
    9.4. Latin America Automotive Engine Oil Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       9.4.1. Key Highlights
             9.4.1.1. Brazil Automotive Engine Oil Market by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             9.4.1.2. Brazil Automotive Engine Oil Market Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             9.4.1.3. Brazil Automotive Engine Oil Market Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             9.4.1.4. Mexico Automotive Engine Oil Market by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             9.4.1.5. Mexico Automotive Engine Oil Market Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             9.4.1.6. Mexico Automotive Engine Oil Market Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             9.4.1.7. Argentina Automotive Engine Oil Market by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             9.4.1.8. Argentina Automotive Engine Oil Market Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             9.4.1.9. Argentina Automotive Engine Oil Market Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             9.4.1.10. Rest of Latin America Automotive Engine Oil Market by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             9.4.1.11. Rest of Latin America Automotive Engine Oil Market Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             9.4.1.12. Rest of Latin America Automotive Engine Oil Market Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       9.4.2. BPS Analysis/Market Attractiveness Analysis


10. Middle East & Africa Automotive Engine Oil Market Outlook, 2019 - 2031
    10.1. Middle East & Africa Automotive Engine Oil Market Outlook, by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       10.1.1. Key Highlights
             10.1.1.1. Mineral
             10.1.1.2. Semi-synthetic
             10.1.1.3. Fully-synthetic
    10.2. Middle East & Africa Automotive Engine Oil Market Outlook, by Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       10.2.1. Key Highlights
             10.2.1.1. Gasoline
             10.2.1.2. Diesel
             10.2.1.3. Alternative Fuels
    10.3. Middle East & Africa Automotive Engine Oil Market Outlook, by Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       10.3.1. Key Highlights
             10.3.1.1. Passenger Car
             10.3.1.2. LCV
             10.3.1.3. HCV
       10.3.2. BPS Analysis/Market Attractiveness Analysis
    10.4. Middle East & Africa Automotive Engine Oil Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       10.4.1. Key Highlights
             10.4.1.1. GCC Automotive Engine Oil Market by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             10.4.1.2. GCC Automotive Engine Oil Market Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             10.4.1.3. GCC Automotive Engine Oil Market Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             10.4.1.4. South Africa Automotive Engine Oil Market by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             10.4.1.5. South Africa Automotive Engine Oil Market Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             10.4.1.6. South Africa Automotive Engine Oil Market Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             10.4.1.7. Egypt Automotive Engine Oil Market by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             10.4.1.8. Egypt Automotive Engine Oil Market Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             10.4.1.9. Egypt Automotive Engine Oil Market Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             10.4.1.10. Nigeria Automotive Engine Oil Market by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             10.4.1.11. Nigeria Automotive Engine Oil Market Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             10.4.1.12. Nigeria Automotive Engine Oil Market Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             10.4.1.13. Rest of Middle East & Africa Automotive Engine Oil Market by Grade, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             10.4.1.14. Rest of Middle East & Africa Automotive Engine Oil Market Engine Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
             10.4.1.15. Rest of Middle East & Africa Automotive Engine Oil Market Vehicle Type, Value (US$ Bn) and Volume (Tons), 2019 - 2031
       10.4.2. BPS Analysis/Market Attractiveness Analysis


11. Competitive Landscape
    11.1. Vehicle Type vs Engine Type Heatmap
    11.2. Manufacturer vs Engine Type Heatmap
    11.3. Company Market Share Analysis, 2023
    11.4. Competitive Dashboard
    11.5. Company Profiles
       11.5.1. Total S.A
             11.5.1.1. Company Overview
             11.5.1.2. Product Portfolio
             11.5.1.3. Financial Overview
             11.5.1.4. Business Strategies and Development
       11.5.2. Shell plc
             11.5.2.1. Company Overview
             11.5.2.2. Product Portfolio
             11.5.2.3. Financial Overview
             11.5.2.4. Business Strategies and Development
       11.5.3. Exxon Mobil Corporation
             11.5.3.1. Company Overview
             11.5.3.2. Product Portfolio
             11.5.3.3. Financial Overview
             11.5.3.4. Business Strategies and Development
       11.5.4. BP p.l.c
             11.5.4.1. Company Overview
             11.5.4.2. Product Portfolio
             11.5.4.3. Financial Overview
             11.5.4.4. Business Strategies and Development
       11.5.5. Chevron Corporation
             11.5.5.1. Company Overview
             11.5.5.2. Product Portfolio
             11.5.5.3. Financial Overview
             11.5.5.4. Business Strategies and Development
       11.5.6. Eni SPA
             11.5.6.1. Company Overview
             11.5.6.2. Product Portfolio
             11.5.6.3. Financial Overview
             11.5.6.4. Business Strategies and Development
       11.5.7. Valvoline
             11.5.7.1. Company Overview
             11.5.7.2. Product Portfolio
             11.5.7.3. Financial Overview
             11.5.7.4. Business Strategies and Development
       11.5.8. Castrol
             11.5.8.1. Company Overview
             11.5.8.2. Product Portfolio
             11.5.8.3. Financial Overview
             11.5.8.4. Business Strategies and Development
       11.5.9. Fuchs Petrolub
             11.5.9.1. Company Overview
             11.5.9.2. Product Portfolio
             11.5.9.3. Financial Overview
             11.5.9.4. Business Strategies and Development
       11.5.10. Sinopec Lubricant Company
             11.5.10.1. Company Overview
             11.5.10.2. Product Portfolio
             11.5.10.3. Financial Overview
             11.5.10.4. Business Strategies and Development


12. Appendix
    12.1. Research Methodology
    12.2. Report Assumptions
    12.3. Acronyms and Abbreviations

BASE YEAR

HISTORICAL DATA

FORECAST PERIOD

UNITS

2023

 

2019 - 2023

2024 - 2031

Value: US$ Billion

Volume:TONS

 

REPORT FEATURES

DETAILS

 Grade Coverage

  • Mineral
  • Synthetic
  • Semi-Synthetic

Engine Type Coverage

  • Gasoline
  • Diesel

Vehicle Type Coverage

  • Passenger Vehicle
  • Heavy Commercial Vehicle
  • Light Commercial Vehicle
  • Two Wheelers

Geographical Coverage

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • The United Kingdom
    • Spain
    • Germany
    • Italy
    • France
    • Rest of Europe
  • Asia Pacific
    • India
    • Japan
    • China
    • Australia
    • Singapore
    • Malaysia
    • South Korea
    • New Zealand
    • Southeast Asia
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of LATAM
  • Middles East & Africa
    • Saudi Arabia
    • UAE
    • Lebanon
    • Jordan
    • Cyprus

Leading Companies

  • Saudi Arabian Oil Co.
  • Total S.A
  • Exxon Mobil Corporation
  • BP p.l.c
  • Chevron Corporation
  • Sinopec Lubricant Company
  • Eni SPA
  • Valvoline
  • Castrol
  • Jiangsu Lopal Tech. Co., Ltd.
  • Fuchs Petrolub
  • Petronas
  • Amsoil Inc.
  • Philips 66

Report Highlights

Key Market Indicators, Macro-micro economic impact analysis, Technological Roadmap, Key Trends, Driver, Restraints, and Future Opportunities & Revenue Pockets, Porter’s 5 Forces Analysis, Historical Trend (2019-2021), Market Estimates and Forecast, Market Dynamics, Industry Trends, Competition Landscape, Category, Region, Country-wise Trends & Analysis, COVID-19 Impact Analysis (Demand and Supply Chain)

FAQs : Automotive Engine Oil Market

The automotive engine oil market encompasses the production, distribution, and sale of lubricants specifically formulated for use in internal combustion engines to reduce friction, wear, and corrosion while facilitating heat dissipation and engine performance.

Engine oils lubricate moving parts within the engine, such as pistons, crankshafts, and camshafts, to minimize friction and wear, cool engine components, prevent corrosion, seal gaps between moving parts, and remove contaminants.

Factors include the increasing global vehicle parc, growing automotive aftermarket industry, routine maintenance requirements, technological advancements in engine design necessitating specialized lubricants, and environmental regulations mandating lower emissions and fuel efficiency.

Consumer preferences for specific performance attributes such as viscosity grades, synthetic versus conventional oils, fuel economy benefits, and brand loyalty influence purchasing decisions and product offerings within the market.

Major players include multinational oil companies such as ExxonMobil, Royal Dutch Shell, Chevron Corporation, BP plc, and TotalEnergies, as well as specialty lubricant manufacturers like Castrol, Valvoline, and Fuchs Group, providing a wide range of engine oils for various vehicle types and applications.

Our Research Methodology

Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.

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