Automotive Engine Oil Market By Size, Trends, Developments & Forecast 2028

Summary

Report Description

Forecast Period	2024-2028
Market Size (2022)	USD 17.72 billion
CAGR (2023-2028)	4.5%
Fastest Growing Segment	Passenger Cars
Largest Market	North America

Market Overview

The Global Automotive Engine Oil Market size reached USD 17.72 billion in 2022 and is expected to grow with a CAGR of 4.5% in the forecast period. The global automotive engine oil market is a critical component of the automotive industry, as it plays a pivotal role in maintaining the performance and longevity of internal combustion engines. Engine oil acts as a lubricant, reducing friction between moving engine parts, and as a coolant, dissipating heat generated during combustion. The market for automotive engine oil is influenced by various factors, including technological advancements, environmental regulations, shifting consumer preferences, and changes in vehicle ownership patterns.

One of the significant trends in the automotive engine oil market is the diversification of oil types. Traditionally, mineral-based or conventional engine oils were widely used. However, as engine technology has advanced, synthetic and semi-synthetic engine oils have gained prominence. Synthetic oils, in particular, are engineered for high-performance and modern engines, offering superior viscosity stability, thermal resistance, and protection in extreme conditions. These oils are in high demand, especially among owners of high-performance and luxury vehicles. Environmental concerns and stringent emissions regulations have also significantly impacted the market. As governments worldwide impose stricter emissions standards, automakers are continually innovating to produce more fuel-efficient engines. This, in turn, has led to changes in engine oil formulations to meet the evolving needs of these advanced engines. Low-viscosity synthetic oils, for example, are becoming more common as they reduce friction and improve fuel efficiency.

Consumer awareness of the importance of regular engine maintenance, including oil changes, has grown. Automotive manufacturers and oil producers have launched educational campaigns to inform consumers about the benefits of using the right engine oil and adhering to recommended service intervals. This heightened awareness has contributed to an increase in the demand for high-quality engine oils.Furthermore, the market for high-mileage engine oils has witnessed growth. With more vehicles on the road exceeding 100,000 miles, there is a demand for engine oils specially formulated for older vehicles with higher mileage. These oils often contain additives to protect against engine wear, reduce oil consumption, and extend the engine's lifespan.

The global automotive engine oil market is a dynamic and evolving sector within the automotive industry. It is shaped by factors such as advancements in engine technology, environmental regulations, consumer awareness, and changing vehicle ownership patterns. As the industry continues to adapt to new challenges and opportunities, engine oil formulations and consumer preferences will likely continue to evolve, influencing the market's direction and growth.

Key Market Drivers

Evolving Engine Technologies

The continuous advancement of automotive engine technology is a cornerstone driver for changes in the engine oil market. As automakers strive for improved fuel efficiency and reduced emissions, they have introduced innovative engine designs. These include downsized engines with smaller displacements, turbocharging, and direct fuel injection. These modern engines operate at higher temperatures and pressures, placing increased demands on engine oil. Consequently, engine oil formulations must adapt to provide enhanced protection against wear, improved thermal stability, and reduced friction. For instance, low-viscosity synthetic oils have gained prominence to address these needs and optimize engine performance.

Stringent Environmental Regulations

Global concerns over environmental pollution and climate change have resulted in increasingly strict emissions regulations. Governments worldwide are implementing stringent standards to limit carbon emissions from vehicles. These regulations not only influence automakers but also drive significant changes in the engine oil market. Engine oil formulations must align with these regulations by offering low-viscosity oils that reduce friction and improve fuel efficiency. As a result, engine oil manufacturers are working to develop more environmentally friendly and fuel-efficient products that help vehicles meet these rigorous emissions standards.

Consumer Awareness and Education

Consumer awareness and education have gained prominence as drivers of change in the engine oil market. Today's consumers are more informed about the importance of proper engine maintenance and the role of engine oil in preserving engine performance and lifespan. Automakers and engine oil manufacturers invest in educational campaigns to convey these benefits to consumers, encouraging them to choose the right engine oil and adhere to recommended service intervals. This heightened awareness has led to an increased demand for high-quality engine oils, especially synthetic and semi-synthetic variants. Consumers now understand that investing in premium engine oil can translate into longer engine life and reduced long-term maintenance costs.

Changing Vehicle Ownership Patterns

Vehicle ownership patterns have shifted globally, with consumers holding onto their vehicles for more extended periods. This trend has led to the emergence of a market for high-mileage engine oils. These specialized oils are formulated to cater to the unique needs of older vehicles with higher mileage. They offer enhanced protection against engine wear, reduced oil consumption, and overall engine preservation. This shift in ownership patterns has created a niche within the engine oil market, with products designed to address the maintenance requirements of aging vehicles. As more consumers opt to keep their vehicles longer, the demand for high-mileage engine oils continues to grow.

The global automotive engine oil market is continually influenced by evolving engine technologies, stringent environmental regulations, consumer education and awareness, and changing vehicle ownership patterns. These drivers collectively impact the development and formulation of engine oils to meet the evolving demands of modern engines, the expectations of informed consumers, and the need to comply with environmental standards. As these drivers persist, the engine oil market will continue to adapt and evolve to cater to the dynamic automotive industry.

Download Free Sample Report

Key Market Challenges

Evolving Engine Technology and Formulation Complexity

The continuous evolution of automotive engine technology poses a significant challenge for engine oil manufacturers. Modern engines incorporate advanced features such as smaller displacements, turbocharging, direct fuel injection, and variable valve timing. These innovations result in higher operating temperatures and pressures within the engine, necessitating engine oils with specialized formulations. Achieving the delicate balance between reducing friction, providing sufficient lubrication, maintaining thermal stability, and meeting emissions standards is an ongoing challenge. Engine oil manufacturers must invest in extensive research and development to create oils that cater to these precise engine demands.

Stringent Environmental Regulations

While stringent emissions regulations can drive the development of low-viscosity engine oils for improved fuel efficiency, they simultaneously create challenges for manufacturers. Formulating these oils while ensuring durability, engine protection, and compliance with evolving environmental standards can be demanding. Meeting emissions standards often requires altering engine oil formulations, which can increase production costs. Consequently, manufacturers face the challenge of maintaining product affordability while adhering to ever-stricter regulations.

Consumer Confusion and Misinformation

The sheer variety of engine oil products available in the market can overwhelm consumers and lead to confusion. Differentiating between conventional, synthetic, and semi-synthetic oils, and understanding their implications for specific engines, is not always straightforward. This confusion can result in consumers selecting the wrong engine oil for their vehicles, potentially leading to reduced engine performance or even damage. Engine oil manufacturers, automakers, and retailers face the ongoing challenge of educating consumers to make informed choices and avoid misinformation.

Counterfeit and Substandard Products

The automotive engine oil market is susceptible to counterfeit and substandard products that do not meet quality standards. These inferior oils can pose serious risks to engines, potentially causing damage and reducing engine life. Detecting and eliminating counterfeit products is an ongoing challenge for regulators and legitimate manufacturers. The presence of counterfeit and substandard products erodes consumer trust, jeopardizes safety, and harms the reputation of the engine oil industry.

Changing Vehicle Ownership and Maintenance Patterns

As consumers increasingly keep their vehicles for longer periods, the demand for high-mileage engine oils has grown. However, formulating these specialized oils to meet the unique requirements of aging engines is a challenge. Aging vehicles may have different maintenance needs, and high-mileage engine oils must offer enhanced protection against engine wear, reduce oil consumption, and extend engine life. Additionally, changing vehicle ownership patterns, including a rise in do-it-yourself (DIY) oil changes, place greater responsibility on consumers to select the correct engine oil. This shift underscores the importance of ensuring consumers have access to accurate information and quality products tailored to their specific vehicles.

The global automotive engine oil market grapples with challenges stemming from the continual evolution of engine technology, stringent environmental regulations, consumer confusion, counterfeit products, and shifting vehicle ownership and maintenance patterns. Addressing these challenges demands ongoing innovation, education, and industry collaboration to ensure that engine oils continue to meet the demands of today's advanced engines, environmental standards, and consumer expectations.

Key Market Trends

Shift Towards Low-Viscosity Oils

A prominent trend in the automotive engine oil market is the increasing adoption of low-viscosity oils. Modern engines are designed for higher fuel efficiency, which has led to a preference for thinner oils with lower viscosity. These oils reduce friction and improve fuel economy by minimizing energy loss within the engine. As emissions standards become stricter, low-viscosity oils also help engines meet these requirements by reducing internal drag. This trend is driving the development of synthetic and semi-synthetic oils with improved viscosity characteristics.

Rise of Synthetic and Semi-Synthetic Engine Oils

Synthetic and semi-synthetic engine oils are gaining significant traction. Synthetic oils are engineered for high-performance applications and are particularly well-suited for modern engines with demanding specifications. They offer enhanced thermal stability, reduced volatility, and improved resistance to oxidation compared to conventional oils. Semi-synthetic oils, a blend of conventional and synthetic base stocks, strike a balance between performance and cost-effectiveness, appealing to a broader range of consumers.

Growing Demand for Eco-Friendly Engine Oils

Environmental consciousness is driving the demand for eco-friendly engine oils. Consumers and regulators are increasingly concerned about reducing carbon emissions and conserving resources. As a result, there's a surge in the development of environmentally responsible engine oils. These oils are formulated with renewable or recycled base oils and incorporate additives designed to minimize their environmental impact while delivering robust engine protection.

High-Mileage Engine Oils for Aging Vehicles

With consumers keeping their vehicles for longer periods, there's a growing market for high-mileage engine oils. These oils are tailored to address the specific needs of older vehicles with higher mileage. They contain additives that help combat engine wear, reduce oil consumption, and extend the engine's lifespan. This trend is expected to continue as the global vehicle fleet ages, emphasizing the importance of maintenance products designed for older engines.

Increased Focus on Engine Oil Additives

Engine oil additives play a crucial role in enhancing engine oil performance. Manufacturers are placing increased emphasis on developing advanced additives that provide better protection against wear, oxidation, and sludge formation. Anti-friction additives, such as molybdenum and graphene, are gaining attention for their ability to further reduce friction and improve fuel efficiency. Additionally, detergents and dispersants are being refined to maintain engine cleanliness and reduce deposit formation.

Digitalization and Predictive Maintenance

The automotive industry is embracing digitalization and connectivity, and this trend extends to engine oil monitoring and maintenance. Many modern vehicles are equipped with sensors and telematics systems that can monitor engine performance and oil condition in real-time. This data can be used for predictive maintenance, allowing vehicle owners and service providers to schedule oil changes and other maintenance tasks more efficiently. This trend enhances the overall longevity of engines and optimizes the use of engine oil.

The global automotive engine oil market is witnessing a shift toward low-viscosity oils, a rise in synthetic and eco-friendly products, the development of high-mileage engine oils, a focus on advanced additives, and the integration of digitalization and predictive maintenance. These trends are driven by a combination of consumer demands, environmental concerns, and advancements in automotive technology, ultimately shaping the direction and innovation within the engine oil market.

Segmental Insights

The automotive engine oil market is segmented by product type, with various options catering to different consumer needs. Conventional engine oils, also known as mineral-based oils, remain in use for older vehicles and cost-conscious consumers. However, there is a noticeable shift toward synthetic engine oils, which have gained substantial market share due to their superior performance characteristics. Synthetic oils offer improved viscosity stability, thermal resistance, and overall engine protection, making them favored choices for high-performance and modern engines. Semi-synthetic engine oils, a blend of conventional and synthetic base stocks, provide a middle-ground solution, appealing to consumers seeking a balance between performance and affordability. These product type segments reflect the diverse preferences of consumers and the evolving demands of today's engines. Viscosity grade segmentation plays a crucial role in meeting the specific requirements of modern engines. Low-viscosity engine oils have gained prominence in response to the industry's focus on enhanced fuel efficiency and reduced emissions. These oils have lower internal friction, contributing to better fuel economy and improved engine performance. In contrast, high-viscosity engine oils, once common in older engines and specific applications, have seen a decline in market share as modern engines increasingly favor low-viscosity oils. Viscosity grade segmentation underscores the importance of tailoring engine oil formulations to match the unique needs of different engine types and applications.

Base oil type is a critical factor in engine oil formulation, and the market offers various options to cater to different performance requirements. Group I base oils, derived from conventional crude oil refining, have traditionally been used in conventional engine oils. However, as engine technology advances and performance demands increase, there is a growing shift toward Group II, Group III, and Group IV base oils, which offer superior properties and are commonly used in synthetic and semi-synthetic engine oils. Group V base oils, such as esters and polyalphaolefins, are also gaining attention for their ability to meet the specific needs of high-performance engines and specialized applications. Base oil type segmentation reflects the industry's pursuit of improved engine protection and efficiency through advanced base oil technologies.

Segmental insights into the global automotive engine oil market reveal the diverse landscape of product types, viscosity grades, and base oil options. These segments reflect the industry's response to evolving consumer preferences, regulatory requirements, and technological advancements, ultimately shaping the range of engine oil products available to consumers and businesses.

Download Free Sample Report

Regional Insights

North America, comprising the United States and Canada, represents a significant automotive engine oil market. In this region, there's a strong focus on environmental regulations aimed at reducing emissions and improving fuel efficiency. As a result, low-viscosity synthetic engine oils are prevalent, especially in newer vehicles. The market is also characterized by consumer awareness of engine oil quality and the importance of regular maintenance. Major oil companies and automakers collaborate to educate consumers, emphasizing the use of high-quality engine oils to extend engine life and optimize performance. Additionally, the region's embrace of electric and hybrid vehicles has spurred innovation in engine oil technologies to cater to these alternative powertrains.

Europe is at the forefront of the transition to low-emission vehicles, and this drive has influenced the engine oil market. The European Union has implemented stringent emissions standards, propelling the use of low-viscosity engine oils to improve fuel efficiency and reduce CO2 emissions. Germany, as a hub for leading automakers, plays a pivotal role in advancing engine oil technology. European consumers are well-informed about the importance of quality engine oils, and there's a growing preference for synthetic and semi-synthetic products. The region also witnesses investments in research and development to formulate engine oils that cater to the specific needs of high-performance European vehicles.

Asia-Pacific, encompassing countries such as China, Japan, South Korea, and emerging markets, is a dynamic region for the automotive engine oil market. China, in particular, stands out as the world's largest automotive market and is experiencing significant growth in engine oil demand, driven by increasing vehicle ownership and environmental concerns. The Chinese government's support for electric vehicles (EVs) has influenced the market, with a focus on engine oils for hybrid and EVs. Japan continues to innovate in engine oil technology, particularly in the development of low-viscosity oils. South Korea's automotive giants are also investing in advanced engine oil formulations. The Asia-Pacific region is characterized by a mix of consumer preferences, with a growing demand for synthetic engine oils and a keen interest in eco-friendly products.

South America's automotive engine oil market has unique dynamics influenced by economic conditions and consumer preferences. While conventional engine oils remain prevalent in many countries, there's a gradual shift toward synthetic and semi-synthetic options. Economic factors, such as fuel prices, play a crucial role in shaping engine oil choices in this region. The market also reflects the region's growing interest in high-mileage engine oils as vehicle ownership patterns evolve.

The Middle East and Africa are characterized by a diverse range of economic conditions and automotive markets. These regions have traditionally been dominated by conventional engine oils due to the availability of low-cost crude oil. However, there's a growing interest in synthetic engine oils, driven by consumer awareness of the benefits of improved engine protection and fuel efficiency. As economic conditions improve, consumers are increasingly opting for higher-quality engine oils. Additionally, the region's extreme climate conditions create demand for engine oils designed to perform effectively in hot and arid environments.

Recent Developments

In January 2022, three business units, ExxonMobil Upstream Company, ExxonMobil Product Solutions, and ExxonMobil Low Carbon Solutions, make up ExxonMobil Corporation.
In December 2021, ExxonMobil unveiled the Mobil Super Pro brand of synthetic engine oils for SUVs.

Key Market Players

BP PLC (Castrol)
Chevron Corporation
China National Petroleum Corporation
China Petroleum & Chemical Corporation
ENEOS Corporation
ExxonMobil Corporation
Idemitsu Kosan Co. Ltd
Royal Dutch Shell PLC
Total Energies
Valvoline Inc.

By Vehicle Type	By Demand Category	By Region
Commercial Vehicles Two-Wheelers Passenger Cars	OEM Replacement	North America Europe & CIS Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Automotive Engine Oil Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Automotive Engine Oil Market, By Vehicle Type:

o Commercial Vehicles

o Two-Wheelers

o Passenger Cars

Automotive Engine Oil Market, By Demand Category:

o OEM

o Replacement

Automotive Engine Oil Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Europe & CIS

§ Germany

§ Spain

§ France

§ Russia

§ Italy

§ United Kingdom

§ Belgium

o Asia-Pacific

§ China

§ India

§ Japan

§ Indonesia

§ Thailand

§ Australia

§ South Korea

o South America

§ Brazil

§ Argentina

§ Colombia

o Middle East & Africa

§ Turkey

§ Iran

§ Saudi Arabia

§ UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Automotive Engine Oil Market.

Available Customizations:

Global Automotive Engine Oil Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Automotive Engine Oil Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Introduction

1.1. Market Overview

1.2. Key Highlights of the Report

1.3. Market Coverage

1.4. Market Segments Covered

1.5. Research Tenure Considered

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Market Overview

3.2. Market Forecast

3.3. Key Regions

3.4. Key Segments

4. Impact of COVID-19 on Global Automotive Engine Oil Market

5. Global Automotive Engine Oil Market Outlook

5.1. Market Size & Forecast

5.1.1. By Volume & Value

5.2. Market Share & Forecast

5.2.1. By Vehicle Type Market Share Analysis (Commercial Vehicles, Two-Wheelers, Passenger Cars)

5.2.2. By Demand Category (OEM and Replacement)

5.2.3. By Regional Market Share Analysis

5.2.3.1. Asia-Pacific Market Share Analysis

5.2.3.2. Europe & CIS Market Share Analysis

5.2.3.3. North America Market Share Analysis

5.2.3.4. South America Market Share Analysis

5.2.3.5. Middle East & Africa Market Share Analysis

5.2.4. By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2022)

5.3. Global Automotive Engine Oil Market Mapping & Opportunity Assessment

5.3.1. By Vehicle Type Market Mapping & Opportunity Assessment

5.3.2. By Demand Category Market Mapping & Opportunity Assessment

5.3.3. By Regional Market Mapping & Opportunity Assessment

6. Asia-Pacific Automotive Engine Oil Market Outlook

6.1. Market Size & Forecast

6.1.1. By Volume & Value

6.2. Market Share & Forecast

6.2.1. By Vehicle Type Market Share Analysis

6.2.2. By Demand Category Market Share Analysis

6.2.3. By Country Market Share Analysis

6.2.3.1. China Market Share Analysis

6.2.3.2. India Market Share Analysis

6.2.3.3. Japan Market Share Analysis

6.2.3.4. Indonesia Market Share Analysis

6.2.3.5. Thailand Market Share Analysis

6.2.3.6. South Korea Market Share Analysis

6.2.3.7. Australia Market Share Analysis

6.2.3.8. Rest of Asia-Pacific Market Share Analysis

6.3. Asia-Pacific: Country Analysis

6.3.1. China Automotive Engine Oil Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Volume & Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Vehicle Type Market Share Analysis

6.3.1.2.2. By Demand Category Market Share Analysis

6.3.2. India Automotive Engine Oil Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Volume & Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Vehicle Type Market Share Analysis

6.3.2.2.2. By Demand Category Market Share Analysis

6.3.3. Japan Automotive Engine Oil Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Volume & Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Vehicle Type Market Share Analysis

6.3.3.2.2. By Demand Category Market Share Analysis

6.3.4. Indonesia Automotive Engine Oil Market Outlook

6.3.4.1. Market Size & Forecast

6.3.4.1.1. By Volume & Value

6.3.4.2. Market Share & Forecast

6.3.4.2.1. By Vehicle Type Market Share Analysis

6.3.4.2.2. By Demand Category Market Share Analysis

6.3.5. Thailand Automotive Engine Oil Market Outlook

6.3.5.1. Market Size & Forecast

6.3.5.1.1. By Volume & Value

6.3.5.2. Market Share & Forecast

6.3.5.2.1. By Vehicle Type Market Share Analysis

6.3.5.2.2. By Demand Category Market Share Analysis

6.3.6. South Korea Automotive Engine Oil Market Outlook

6.3.6.1. Market Size & Forecast

6.3.6.1.1. By Volume & Value

6.3.6.2. Market Share & Forecast

6.3.6.2.1. By Vehicle Type Market Share Analysis

6.3.6.2.2. By Demand Category Market Share Analysis

6.3.7. Australia Automotive Engine Oil Market Outlook

6.3.7.1. Market Size & Forecast

6.3.7.1.1. By Volume & Value

6.3.7.2. Market Share & Forecast

6.3.7.2.1. By Vehicle Type Market Share Analysis

6.3.7.2.2. By Demand Category Market Share Analysis

7. Europe & CIS Automotive Engine Oil Market Outlook

7.1. Market Size & Forecast

7.1.1. By Volume & Value

7.2. Market Share & Forecast

7.2.1. By Vehicle Type Market Share Analysis

7.2.2. By Demand Category Market Share Analysis

7.2.3. By Country Market Share Analysis

7.2.3.1. Germany Market Share Analysis

7.2.3.2. Spain Market Share Analysis

7.2.3.3. France Market Share Analysis

7.2.3.4. Russia Market Share Analysis

7.2.3.5. Italy Market Share Analysis

7.2.3.6. United Kingdom Market Share Analysis

7.2.3.7. Belgium Market Share Analysis

7.2.3.8. Rest of Europe & CIS Market Share Analysis

7.3. Europe & CIS: Country Analysis

7.3.1. Germany Automotive Engine Oil Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Volume & Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Vehicle Type Market Share Analysis

7.3.1.2.2. By Demand Category Market Share Analysis

7.3.2. Spain Automotive Engine Oil Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Volume & Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Vehicle Type Market Share Analysis

7.3.2.2.2. By Demand Category Market Share Analysis

7.3.3. France Automotive Engine Oil Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Volume & Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Vehicle Type Market Share Analysis

7.3.3.2.2. By Demand Category Market Share Analysis

7.3.4. Russia Automotive Engine Oil Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Volume & Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Vehicle Type Market Share Analysis

7.3.4.2.2. By Demand Category Market Share Analysis

7.3.5. Italy Automotive Engine Oil Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Volume & Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Vehicle Type Market Share Analysis

7.3.5.2.2. By Demand Category Market Share Analysis

7.3.6. United Kingdom Automotive Engine Oil Market Outlook

7.3.6.1. Market Size & Forecast

7.3.6.1.1. By Volume & Value

7.3.6.2. Market Share & Forecast

7.3.6.2.1. By Vehicle Type Market Share Analysis

7.3.6.2.2. By Demand Category Market Share Analysis

7.3.7. Belgium Automotive Engine Oil Market Outlook

7.3.7.1. Market Size & Forecast

7.3.7.1.1. By Volume & Value

7.3.7.2. Market Share & Forecast

7.3.7.2.1. By Vehicle Type Market Share Analysis

7.3.7.2.2. By Demand Category Market Share Analysis

8. North America Automotive Engine Oil Market Outlook

8.1. Market Size & Forecast

8.1.1. By Volume & Value

8.2. Market Share & Forecast

8.2.1. By Vehicle Type Market Share Analysis

8.2.2. By Demand Category Market Share Analysis

8.2.3. By Country Market Share Analysis

8.2.3.1. United States Market Share Analysis

8.2.3.2. Mexico Market Share Analysis

8.2.3.3. Canada Market Share Analysis

8.3. North America: Country Analysis

8.3.1. United States Automotive Engine Oil Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Volume & Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Vehicle Type Market Share Analysis

8.3.1.2.2. By Demand Category Market Share Analysis

8.3.2. Mexico Automotive Engine Oil Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Volume & Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Vehicle Type Market Share Analysis

8.3.2.2.2. By Demand Category Market Share Analysis

8.3.3. Canada Automotive Engine Oil Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Volume & Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Vehicle Type Market Share Analysis

8.3.3.2.2. By Demand Category Market Share Analysis

9. South America Automotive Engine Oil Market Outlook

9.1. Market Size & Forecast

9.1.1. By Volume & Value

9.2. Market Share & Forecast

9.2.1. By Vehicle Type Market Share Analysis

9.2.2. By Demand Category Market Share Analysis

9.2.3. By Country Market Share Analysis

9.2.3.1. Brazil Market Share Analysis

9.2.3.2. Argentina Market Share Analysis

9.2.3.3. Colombia Market Share Analysis

9.2.3.4. Rest of South America Market Share Analysis

9.3. South America: Country Analysis

9.3.1. Brazil Automotive Engine Oil Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Volume & Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Vehicle Type Market Share Analysis

9.3.1.2.2. By Demand Category Market Share Analysis

9.3.2. Colombia Automotive Engine Oil Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Volume & Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Vehicle Type Market Share Analysis

9.3.2.2.2. By Demand Category Market Share Analysis

9.3.3. Argentina Automotive Engine Oil Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Volume & Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Vehicle Type Market Share Analysis

9.3.3.2.2. By Demand Category Market Share Analysis

10. Middle East & Africa Automotive Engine Oil Market Outlook

10.1. Market Size & Forecast

10.1.1. By Volume & Value

10.2. Market Share & Forecast

10.2.1. By Vehicle Type Market Share Analysis

10.2.2. By Demand Category Market Share Analysis

10.2.3. By Country Market Share Analysis

10.2.3.1. Turkey Market Share Analysis

10.2.3.2. Iran Market Share Analysis

10.2.3.3. Saudi Arabia Market Share Analysis

10.2.3.4. UAE Market Share Analysis

10.2.3.5. Rest of Middle East & Africa Market Share Africa

10.3. Middle East & Africa: Country Analysis

10.3.1. Turkey Automotive Engine Oil Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Volume & Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Vehicle Type Market Share Analysis

10.3.1.2.2. By Demand Category Market Share Analysis

10.3.2. Iran Automotive Engine Oil Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Volume & Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Vehicle Type Market Share Analysis

10.3.2.2.2. By Demand Category Market Share Analysis

10.3.3. Saudi Arabia Automotive Engine Oil Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Volume & Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Vehicle Type Market Share Analysis

10.3.3.2.2. By Demand Category Market Share Analysis

10.3.4. UAE Automotive Engine Oil Market Outlook

10.3.4.1. Market Size & Forecast

10.3.4.1.1. By Volume & Value

10.3.4.2. Market Share & Forecast

10.3.4.2.1. By Vehicle Type Market Share Analysis

10.3.4.2.2. By Demand Category Market Share Analysis

11. SWOT Analysis

11.1. Strength

11.2. Weakness

11.3. Opportunities

11.4. Threats

12. Market Dynamics

12.1. Market Drivers

12.2. Market Challenges

13. Market Trends and Developments

14. Competitive Landscape

14.1. Company Profiles (Up to 10 Major Companies)

14.1.1. BP PLC (Castrol)

14.1.1.1. Company Details

14.1.1.2. Key Product Offered

14.1.1.3. Financials (As Per Availability)

14.1.1.4. Recent Developments

14.1.1.5. Key Management Personnel

14.1.2. Chevron Corporation

14.1.2.1. Company Details

14.1.2.2. Key Product Offered

14.1.2.3. Financials (As Per Availability)

14.1.2.4. Recent Developments

14.1.2.5. Key Management Personnel

14.1.3. China National Petroleum Corporation

14.1.3.1. Company Details

14.1.3.2. Key Product Offered

14.1.3.3. Financials (As Per Availability)

14.1.3.4. Recent Developments

14.1.3.5. Key Management Personnel

14.1.4. China Petroleum & Chemical Corporation

14.1.4.1. Company Details

14.1.4.2. Key Product Offered

14.1.4.3. Financials (As Per Availability)

14.1.4.4. Recent Developments

14.1.4.5. Key Management Personnel

14.1.5. ENEOS Corporation

14.1.5.1. Company Details

14.1.5.2. Key Product Offered

14.1.5.3. Financials (As Per Availability)

14.1.5.4. Recent Developments

14.1.5.5. Key Management Personnel

14.1.6. ExxonMobil Corporation

14.1.6.1. Company Details

14.1.6.2. Key Product Offered

14.1.6.3. Financials (As Per Availability)

14.1.6.4. Recent Developments

14.1.6.5. Key Management Personnel

14.1.7. Idemitsu Kosan Co. Ltd

14.1.7.1. Company Details

14.1.7.2. Key Product Offered

14.1.7.3. Financials (As Per Availability)

14.1.7.4. Recent Developments

14.1.7.5. Key Management Personnel

14.1.8. Royal Dutch Shell PLC

14.1.8.1. Company Details

14.1.8.2. Key Product Offered

14.1.8.3. Financials (As Per Availability)

14.1.8.4. Recent Developments

14.1.8.5. Key Management Personnel

14.1.9. Total Energies

14.1.9.1. Company Details

14.1.9.2. Key Product Offered

14.1.9.3. Financials (As Per Availability)

14.1.9.4. Recent Developments

14.1.9.5. Key Management Personnel

14.1.10. Valvoline Inc

14.1.10.1. Company Details

14.1.10.2. Key Product Offered

14.1.10.3. Financials (As Per Availability)

14.1.10.4. Recent Developments

14.1.10.5. Key Management Personnel

15. Strategic Recommendations

15.1. Key Focus Areas

15.1.1. Target Regions

15.1.2. Target Vehicle Type

15.1.3. Target Demand Category

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What was the market size of the Global Automotive Engine Oil Market in 2022?

The Global Automotive Engine Oil Market size reached USD 17.72 billion in 2022.

Which was the dominant segment by Vehicle Type in the Global Automotive Engine Oil Market in 2022?

Passenger cars have consistently held a dominant position in the global automotive engine oil market. Passenger cars make up the largest share of the global vehicle fleet. There are significantly more passenger cars on the road compared to commercial vehicles, such as trucks and buses. This sheer volume of passenger cars drives the demand for engine oils. Passenger car owners are generally more vigilant about regular vehicle maintenance, including oil changes. This behavior ensures a steady and reliable market for engine oil manufacturers. Regular oil changes are essential for engine health, and most passenger car owners adhere to recommended service intervals.

Which is the dominant region in the Global Automotive Engine Oil Market?

North America was indeed a significant and influential region in the global automotive engine oil market. Several factors contributed to North America's dominance in this market segment. North America, particularly the United States, has one of the largest vehicle fleets in the world. The vast number of passenger cars, trucks, and other vehicles on the road generates substantial demand for automotive engine oil.

What are the major drivers for the Global Automotive Engine Oil Market?

Rise in the Vehicle Ownership and Production Trends and the evolving engine technologies are the major drivers for the Global Automotive Engine Oil Market.

Related Reports

Srishti Verma

Business Consultant

Talk To Analyst

Press Release

Global Automotive Engine Oil Market to Grow with a CAGR of 4.5% through 2028

Sep, 2023

Rise in the Vehicle Ownership and Production Trends and the evolving engine technologies is driving the Global Automotive Engine Oil Market in the forecast period 2024-2028.

Automotive Engine Oil Market – Global Industry Size, Share, Trends Opportunity, and Forecast 2018-2028. Segmented Vehicle Type (Commercial Vehicles, Two-Wheelers, Passenger Cars), By Demand Category (OEM and Replacement), By Region and By Competition.

Buy Now