Automotive Light Commercial Vehicle Engine Oil Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Grade (Synthetic, Semi synthetic and Minerals), By Demand Category (OEM, Aftermarket) By Region, By Competition, 2018-2028

  • Industry : Automotive
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Summary

Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 22 billion

CAGR (2023-2028)

6.8%

Fastest Growing Segment

Semi synthetic

Largest Market

Asia-Pacific

Market Overview

Global Automotive Light Commercial Vehicle Engine Oil Market has valued at USD 22 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 6.8% through 2028. The Global Automotive Light Commercial Vehicle (LCV) Engine Oil market is a dynamic and evolving sector within the automotive industry. Engine oil plays a pivotal role in ensuring the efficient operation and longevity of light commercial vehicles, which serve various purposes, from urban delivery and passenger transport to off-road and construction applications. The market is influenced by several key factors, including stringent emission regulations driving the demand for low-viscosity and environmentally friendly engine oils. Moreover, the adoption of synthetic and semi-synthetic oils is on the rise, offering superior protection and extended drain intervals. Customized engine oil solutions tailored to specific LCV applications are becoming increasingly prevalent, optimizing performance and durability. Additionally, the integration of digitalization and predictive maintenance solutions is transforming the way engine oil is managed and maintained in LCV fleets, enhancing efficiency, and reducing downtime. As the industry continues to address environmental concerns and respond to the diverse needs of LCV operators, it is poised for innovation and growth, promising more efficient, eco-friendly, and application-specific engine oil solutions for the global LCV market.

Key Market Drivers

Growing Global LCV Fleet and Vehicle Sales

One of the primary drivers of the Global Automotive LCV Engine Oil market is the expansion of the worldwide fleet of light commercial vehicles and the concurrent increase in LCV sales. This growth is spurred by various factors that have created a higher demand for LCVs across different regions and industries. Firstly, rapid urbanization, especially in emerging economies, has led to increased demand for efficient transportation solutions. LCVs are well-suited for navigating urban environments, making them a preferred choice for various applications, including last-mile delivery, logistics, and passenger transport within cities. Secondly, the e-commerce industry's exponential growth has had a profound impact on the LCV market. The surge in online shopping and the need for timely, efficient deliveries have driven up the sales of LCVs, particularly for use in urban and suburban areas where last-mile delivery is critical. This sustained growth in the LCV fleet and vehicle sales underscores the importance of engine oil in maintaining the operational efficiency and longevity of these vehicles. As the LCV market continues to expand, the demand for high-quality engine oil is expected to follow suit, presenting a substantial driver for the LCV engine oil market.

Stringent Emission Standards and Fuel Efficiency Requirements

A critical driver influencing the LCV engine oil market is the increasing stringency of emission regulations and the heightened focus on improving fuel efficiency in vehicles. Governments worldwide are imposing strict emission standards to combat air pollution and reduce greenhouse gas emissions, prompting automakers to adopt advanced engine technologies and lubricants. The LCV segment is no exception to these regulatory pressures. LCV manufacturers are compelled to develop more fuel-efficient engines and reduce emissions to meet these standards. This necessitates the use of high-quality engine oils specially formulated to enhance engine efficiency and reduce emissions. Modern engine oils for LCVs are designed to provide superior lubrication, minimize friction, and reduce wear and tear within the engine. These oils play a crucial role in ensuring that the engine operates at peak performance, which not only helps meet emission standards but also improves fuel economy, a vital consideration for LCV operators.

Technological Advancements in Engine Oil Formulations

The LCV engine oil market is experiencing a surge in technological advancements and innovations in engine oil formulations. These advancements are aimed at addressing the evolving needs of modern LCV engines, which are designed to be more efficient and environmentally friendly. One key driver of technological advancements is the development of synthetic and semi-synthetic engine oils. These oils offer superior lubrication properties, high-temperature stability, and improved resistance to oxidation and sludge formation. As LCV manufacturers increasingly recommend or require synthetic oils for their vehicles, this has led to a growing market for advanced engine oil formulations. Furthermore, engine oil additives have become more sophisticated, enhancing the overall performance of engine oils. These additives address various aspects, such as detergent and dispersant properties to maintain engine cleanliness, anti-wear additives for engine protection, and viscosity modifiers to optimize engine oil flow under different temperature conditions. Additionally, friction modifiers are incorporated into engine oil formulations to reduce friction and improve fuel efficiency.

These technological advancements in engine oil formulations are essential drivers for the LCV engine oil market, as they enable manufacturers to meet stringent emission standards, improve fuel efficiency, and ensure the longevity of LCV engines.

Increased Vehicle Longevity and Maintenance Awareness

LCV operators and fleet managers are increasingly recognizing the importance of vehicle longevity and maintenance to ensure cost-effective operations. As a result, there is a growing awareness of the role that high-quality engine oils play in preserving the health and performance of LCVs. Extended vehicle lifespans are becoming more common as operators seek to maximize their investments. To achieve this, regular maintenance, including the use of premium engine oils, is crucial. High-quality engine oils provide superior protection against engine wear, reduce friction, and minimize the formation of deposits and sludge. These benefits translate to longer engine life and lower maintenance costs, making them an attractive proposition for LCV operators. Moreover, there is a rising emphasis on preventive maintenance practices within the LCV industry. Operators understand that routine oil changes and the use of quality engine oils can prevent costly breakdowns and repairs. As a result, there is a growing preference for engine oils that offer extended drain intervals, reducing downtime and maintenance expenses.

Shift Toward Electric and Hybrid LCVs

The global automotive industry is witnessing a significant shift toward electric and hybrid vehicles, and this transition is impacting the LCV segment as well. As environmental concerns and emissions regulations become more stringent, many LCV manufacturers are investing in electric and hybrid LCV models to meet sustainability goals and reduce their carbon footprint.

This shift toward electric and hybrid LCVs presents a unique driver for the LCV engine oil market. While these vehicles do not have traditional internal combustion engines that require lubrication, they often feature ancillary systems and components that benefit from specialized lubricants, including electric drivetrains and hybrid powertrains. Furthermore, hybrid LCVs may have regenerative braking systems that utilize unique lubricants for optimal functioning. As electric and hybrid LCVs continue to gain market share, the demand for specialized lubricants tailored to these vehicles is expected to increase, presenting a distinctive driver for the LCV engine oil market.


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Key Market Challenges

Emission Reduction and Regulatory Compliance

Governments across the globe are progressively implementing stringent emission standards to combat air pollution and reduce greenhouse gas emissions. These regulations mandate lower levels of harmful pollutants, such as particulate matter (PM) and nitrogen oxides (NOx), emitted by vehicles. Regulatory bodies are also imposing restrictions on certain additives commonly found in engine oils. For instance, the reduction of sulfur content in engine oil formulations is required to minimize the emission of sulfur dioxide (SO2), a harmful pollutant. Engine oil manufacturers must navigate a complex landscape of emissions regulations that vary by region and are subject to frequent updates. Adherence to these varying standards adds complexity and cost to the development and production of engine oils.

Evolving Engine Technologies and Compatibility

LCV manufacturers are continuously developing more advanced engine designs to improve fuel efficiency and reduce emissions. These designs may include direct injection, turbocharging, and hybrid powertrains, each of which presents unique lubrication challenges. New engine technologies may have specific lubrication requirements. For example, some engines may require specialized low-viscosity oils to operate optimally. Engine oil manufacturers must ensure that their products are compatible with a wide range of engine types and technologies.

As engines become more sophisticated, some LCV manufacturers are extending oil change intervals to reduce maintenance costs. This necessitates the development of engine oils with extended drain capabilities without compromising engine protection. The rise of hybrid and electric LCVs introduces a new layer of complexity. While these vehicles may not have traditional internal combustion engines, they often feature ancillary components that require lubrication, such as gearboxes or bearings. Engine oil manufacturers must stay ahead of these technological advancements to produce lubricants that not only meet the specific requirements of modern engines but also provide compatibility and performance across a wide spectrum of LCVs. Achieving this balance can be challenging, requiring ongoing research and adaptation.

Intense Competitive Landscape and Price Pressures

The LCV engine oil market is highly competitive, with numerous manufacturers and brands vying for market share. This intense competition often results in price pressures, which can impact profitability and product quality. In a bid to secure contracts and gain market share, some engine oil manufacturers engage in price wars, leading to reduced profit margins. This can compromise the resources available for research and development and innovation. LCV manufacturers frequently seek cost reductions throughout their supply chain. This can lead to demands for lower-priced engine oils, putting significant pressure on suppliers to reduce costs without compromising quality. LCV manufacturers may source engine oils globally, seeking the most cost-effective suppliers. This intensifies competition for contracts and heightens price sensitivity among suppliers. Engine oil is often viewed as a commodity product, making it susceptible to price-driven purchasing decisions. This perception can hinder efforts to differentiate based on quality and performance. Engine oil manufacturers must strike a delicate balance between delivering high-quality products that meet the diverse needs of LCV manufacturers and remaining competitive in a price-sensitive market. This requires a keen focus on cost optimization, innovation, and building strong relationships with LCV manufacturers to withstand price pressures.

Sustainability and Environmental Concerns

The increasing emphasis on sustainability and environmental considerations poses significant challenges to the LCV engine oil market. Regulatory authorities are imposing restrictions on certain materials used in engine oil additives. Manufacturers must ensure that their formulations comply with these regulations, which can limit the availability of traditional additives. There is a growing demand for engine oils that are more environmentally friendly, such as those with improved recyclability and biodegradability. Meeting these demands may require changes in formulation and materials sourcing. The disposal of used engine oil is a critical environmental concern. Manufacturers must invest in technologies and solutions that facilitate responsible disposal and recycling of used oil. LCV manufacturers and consumers are increasingly favoring engine oils that align with sustainability goals. This shift in preferences can drive the need for eco-friendly formulations.

Supply Chain Disruptions and Component Shortages

The automotive industry, including the LCV engine oil market, is susceptible to supply chain disruptions and component shortages that can impact production and distribution. Engine oil manufacturers often rely on complex global supply chains for materials and components. Disruptions in one part of the supply chain, such as material shortages or transportation delays, can affect production schedules. Shortages of critical components, such as specialized additives or packaging materials, can lead to delays in production. These shortages may result from increased demand, production interruptions at supplier factories, or logistics challenges. Transportation and logistics disruptions, such as port closures, trade disputes, and unforeseen logistical challenges, can affect the timely delivery of engine oils to customers. Maintaining an optimal balance of inventory is a continuous challenge. Overstocking can tie up capital and increase holding costs, while understocking can lead to production stoppages and missed delivery deadlines.

Key Market Trends

Transition to Low-Viscosity Engine Oils for Improved Fuel Efficiency

One of the prominent trends in the LCV engine oil market is the transition toward low-viscosity engine oils designed to enhance fuel efficiency. This trend aligns with the industry's response to stringent emission standards and the pursuit of reduced carbon emissions. Lower-viscosity oils, such as 0W-20 and 5W-30, flow more easily at low temperatures and reduce friction within the engine, leading to improved fuel economy. Manufacturers are formulating engine oils with reduced viscosity to optimize lubrication while minimizing energy loss due to friction. These oils offer benefits such as quicker engine start-ups in cold conditions, improved engine efficiency, and reduced fuel consumption. LCV manufacturers increasingly recommend or require these low-viscosity engine oils to meet emission standards and improve overall vehicle efficiency. Additionally, low-viscosity engine oils contribute to reduced wear and tear on engine components, extending the lifespan of the engine. This trend emphasizes the importance of developing engine oils that strike a balance between viscosity reduction and engine protection, catering to the needs of modern LCVs.

Increased Adoption of Synthetic and Semi-Synthetic Engine Oils

The use of synthetic and semi-synthetic engine oils is on the rise in the LCV engine oil market. These advanced formulations offer superior performance and protection compared to conventional mineral-based oils. Synthetic engine oils are produced through a highly controlled manufacturing process, resulting in oils with consistent quality and exceptional properties. Synthetic and semi-synthetic oils exhibit several advantages, including improved high-temperature stability, better resistance to oxidation, reduced oil breakdown, and enhanced lubrication properties. These oils provide optimal protection for the engine, especially under high-stress conditions, such as towing or carrying heavy loads. Furthermore, synthetic oils offer extended drain intervals, allowing LCV operators to reduce maintenance costs and downtime. This trend aligns with the growing emphasis on preventive maintenance practices in the LCV industry. As LCV manufacturers increasingly recommend synthetic and semi-synthetic engine oils for their vehicles, the market is witnessing a shift toward these higher-performing lubricants. Manufacturers are responding by developing a wide range of synthetic and semi-synthetic engine oil products to cater to the diverse needs of LCV owners and operators.

Formulation of Low-Sulfur and Environmentally Friendly Engine Oils

Environmental concerns are driving a trend towards low-sulfur and environmentally friendly engine oils in the LCV market. Sulfur in engine oil can lead to the emission of sulfur dioxide (SO2), a harmful pollutant. Regulatory authorities worldwide are imposing strict limits on sulfur content in engine oils to reduce air pollution and minimize the environmental impact of vehicle emissions. Manufacturers are responding by formulating engine oils with significantly lower sulfur content to ensure compliance with these regulations. Low-sulfur engine oils not only contribute to cleaner emissions but also prevent damage to advanced exhaust aftertreatment systems, such as catalytic converters and diesel particulate filters (DPFs). Moreover, there is a growing emphasis on the environmental impact of engine oil throughout its lifecycle. This includes the sourcing of sustainable base oils and additives, as well as the recyclability and biodegradability of used engine oil. Engine oil manufacturers are investing in research and development to produce more environmentally friendly engine oils, aligning with global sustainability goals.

LCV operators and fleet managers are increasingly opting for engine oils that not only protect their vehicles but also reduce their environmental footprint. This trend underscores the importance of developing engine oils that are both low-sulfur and environmentally responsible.

Customized Engine Oil Solutions for Specific LCV Applications

The LCV engine oil market is witnessing a trend toward customized engine oil solutions tailored to specific LCV applications. LCVs serve a diverse range of purposes, from urban delivery vehicles to off-road utility vehicles, each with unique operational demands. Delivery and Last-Mile Vehicles: Engine oils optimized for urban delivery LCVs are formulated to provide superior stop-and-go performance, minimize wear during frequent starts and stops, and offer extended drain intervals to reduce downtime. Off-Road and Construction Vehicles: LCVs used in off-road, or construction applications require engine oils with enhanced protection against dust, dirt, and extreme temperatures. These oils are designed to prevent engine wear in rugged environments. Fleet and Passenger Transport: LCVs used for passenger transport or as part of corporate fleets benefit from engine oils that prioritize fuel efficiency, emission control, and extended service life.

Segmental Insights

Grade Analysis

The mineral, synthetic, and semi-synthetic categories of automotive engine oil make up most of the global market for engine oil. Compared to the synthetic and semi-synthetic oil categories, the mineral engine oil category commands the biggest market share for motor oils globally. As a byproduct of the oil refining process, mineral oil is produced directly from refined crude petroleum oil. Because they are less expensive and more readily available, mineral oils are mostly utilized in automobiles. Additionally, the most fundamental kind of oil and the kind most frequently utilized in most ordinary cars are mineral-based automobile engine oils. Where the weather is not particularly hot or cold, they are better suited for two-wheelers.  Because semi-synthetic engine oils are less expensive than synthetic lubricants, the market for them is anticipated to rise over time. Mineral oil is a component in semi-synthetic oils, although only in small amounts.


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Regional Insights

Due to the highest concentration of automobiles, particularly in countries like China, India, and Thailand, the Asia Pacific region is the largest and experiencing the quickest growth in the global motor oil industry. Additionally, India and China are predicted to have the biggest number of vehicles on the road, and India also has the largest market for two-wheelers, all of which will contribute to the expansion of the market for automotive engine oil. The market in North America is distinguished by significant government assistance for energy-efficient car engine oil. Additionally, it is anticipated that widespread awareness among the local populace would keep the market for synthetic engine oil active. The use of this environmentally friendly oil will regulate the market in Europe. Additionally, it is expected that China and India will have the most vehicles on the road. Since India is the world's largest two-wheeler market, the government is likely to be more motivated to encourage the use of energy-efficient engine oils. It is anticipated that widespread consumer knowledge about synthetic motor oil will keep demand for the product high in Europe. The market in Europe is predicted to be driven by the use of this environmentally friendly oil. The market share of automotive engine oil represented by South America, the Middle East, and Africa is expected to increase throughout the projected period because these markets are currently developing.

Recent Developments

  • The long-standing marketing and technological cooperation agreement between Valvoline and Cummins was renewed by five years in October 2021. For its heavy-duty diesel engines and generators, Cummins is anticipated to support and sell Valvoline's Premium Blue engine oil. Additionally, it is anticipated that Cummins will make Valvoline products available through its extensive global distribution networks.
  • Castrol confirmed a long-term collaboration with Ford in Austria in March 2021. Castrol's specifically formulated engine oil, Ford-Castrol MAGNATEC, is endorsed by Ford and offered at Ford dealerships all throughout the nation.
  • By introducing the new Shell Helix Ultra Hybrid oil for Maserati hybrid engines in March 2021, Shell and Maserati expanded their technological and business partnership. This oil offers long-lasting performance and outstanding protection for the lifespan of automobile engines.
  • September 2019: For a total of USD 631 million, the Saudi Arabian Oil Company acquired Shell Saudi Arabia (Refining) Limited's (Shell) 50% stake in the SASREF joint venture in Jubail Industrial City, Saudi Arabia. As a part of its long-term downstream growth strategy, this acquisition was made in order to expand the sophistication and capacity of its refineries.
  • The third-largest quick-lube system in Canada, Great Canadian Oil Change Franchising Ltd., sold its business assets to Valvoline Inc. in July 2018. With this transaction, Valvoline will be able to franchise and own more than 1,200 quick-lube sites in the United States and Canada.

Key Market Players

  • Royal Dutch Shell plc
  • Pentagon Lubricants Private Limited
  • Castrol Limited
  • HINDUJA GROUP
  • Saudi Arabian Oil Co.
  • Total S.A
  • Gazprom
  • LUKOIL oil Company
  • Exxon Mobil Corporation
  • Chevron Corporation

 
By Grade

By Demand Category

By Region
  • Synthetic
  • Semi synthetic
  • Minerals
  • OEM
  • Aftermarket
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

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

  • Automotive Light Commercial Vehicle Engine Oil Market, By Grade:

o   Synthetic

o   Semi synthetic

o   Minerals

  • Automotive Light Commercial Vehicle Engine Oil Market, By Demand Category:

o   OEM

o   Aftermarket

  • Automotive Light Commercial Vehicle Engine Oil Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe & CIS

§  France

§  Russia

§  United Kingdom

§  Italy

§  Germany

§  Spain

§  Belgium

o   Asia-Pacific

§  China

§  India

§  Japan

§  Indonesia

§  Thailand

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Turkey

Competitive Landscape

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

Available Customizations:

Global Automotive Light Commercial Vehicle 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 Light Commercial Vehicle 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 Light Commercial Vehicle Engine Oil Market

5.    Global Automotive Light Commercial Vehicle Engine Oil Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value & Volume & Volume

5.2.  Market Share & Forecast

5.2.1.    By Grade Market Share Analysis (Synthetic, Semi synthetic and Minerals)

5.2.2.    By Demand Category Market Share Analysis (OEM, Aftermarket)

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 & Volume & Volume, 2022)

5.3.  Global Automotive Light Commercial Vehicle Engine Oil Market Mapping & Opportunity Assessment

5.3.1.    By Grade 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 Light Commercial Vehicle Engine Oil Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value & Volume

6.2.  Market Share & Forecast

6.2.1.    By Grade 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 Light Commercial Vehicle Engine Oil Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.           By Value & Volume

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.           By Grade Market Share Analysis

6.3.1.2.2.           By Demand Category Market Share Analysis

6.3.2.    India Automotive Light Commercial Vehicle Engine Oil Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.           By Value & Volume

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.           By Grade Market Share Analysis

6.3.2.2.2.           By Demand Category Market Share Analysis

6.3.3.    Japan Automotive Light Commercial Vehicle Engine Oil Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.           By Value & Volume

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.           By Grade Market Share Analysis

6.3.3.2.2.           By Demand Category Market Share Analysis

6.3.4.    Indonesia Automotive Light Commercial Vehicle Engine Oil Market Outlook

6.3.4.1.        Market Size & Forecast

6.3.4.1.1.           By Value & Volume

6.3.4.2.        Market Share & Forecast

6.3.4.2.1.           By Grade Market Share Analysis

6.3.4.2.2.           By Demand Category Market Share Analysis

6.3.5.    Thailand Automotive Light Commercial Vehicle Engine Oil Market Outlook

6.3.5.1.        Market Size & Forecast

6.3.5.1.1.           By Value & Volume

6.3.5.2.        Market Share & Forecast

6.3.5.2.1.           By Grade Market Share Analysis

6.3.5.2.2.           By Demand Category Market Share Analysis

6.3.6.    South Korea Automotive Light Commercial Vehicle Engine Oil Market Outlook

6.3.6.1.        Market Size & Forecast

6.3.6.1.1.           By Value & Volume

6.3.6.2.        Market Share & Forecast

6.3.6.2.1.           By Grade Market Share Analysis

6.3.6.2.2.           By Demand Category Market Share Analysis

6.3.7.    Australia Automotive Light Commercial Vehicle Engine Oil Market Outlook

6.3.7.1.        Market Size & Forecast

6.3.7.1.1.           By Value & Volume

6.3.7.2.        Market Share & Forecast

6.3.7.2.1.           By Grade Market Share Analysis

6.3.7.2.2.           By Demand Category Market Share Analysis

7.    Europe & CIS Automotive Light Commercial Vehicle Engine Oil Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value & Volume

7.2.  Market Share & Forecast

7.2.1.    By Grade 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 Light Commercial Vehicle Engine Oil Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value & Volume

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Grade Market Share Analysis

7.3.1.2.2.           By Demand Category Market Share Analysis

7.3.2.    Spain Automotive Light Commercial Vehicle Engine Oil Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value & Volume

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Grade Market Share Analysis

7.3.2.2.2.           By Demand Category Market Share Analysis

7.3.3.    France Automotive Light Commercial Vehicle Engine Oil Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value & Volume

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Grade Market Share Analysis

7.3.3.2.2.           By Demand Category Market Share Analysis

7.3.4.    Russia Automotive Light Commercial Vehicle Engine Oil Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.           By Value & Volume

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.           By Grade Market Share Analysis

7.3.4.2.2.           By Demand Category Market Share Analysis

7.3.5.    Italy Automotive Light Commercial Vehicle Engine Oil Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.           By Value & Volume

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.           By Grade Market Share Analysis

7.3.5.2.2.           By Demand Category Market Share Analysis

7.3.6.    United Kingdom Automotive Light Commercial Vehicle Engine Oil Market Outlook

7.3.6.1.        Market Size & Forecast

7.3.6.1.1.           By Value & Volume

7.3.6.2.        Market Share & Forecast

7.3.6.2.1.           By Grade Market Share Analysis

7.3.6.2.2.           By Demand Category Market Share Analysis

7.3.7.    Belgium Automotive Light Commercial Vehicle Engine Oil Market Outlook

7.3.7.1.        Market Size & Forecast

7.3.7.1.1.           By Value & Volume

7.3.7.2.        Market Share & Forecast

7.3.7.2.1.           By Grade Market Share Analysis

7.3.7.2.2.           By Demand Category Market Share Analysis

8.    North America Automotive Light Commercial Vehicle Engine Oil Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value & Volume

8.2.  Market Share & Forecast

8.2.1.    By Grade 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 Light Commercial Vehicle Engine Oil Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value & Volume

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Grade Market Share Analysis

8.3.1.2.2.           By Demand Category Market Share Analysis

8.3.2.    Mexico Automotive Light Commercial Vehicle Engine Oil Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value & Volume

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Grade Market Share Analysis

8.3.2.2.2.           By Demand Category Market Share Analysis

8.3.3.    Canada Automotive Light Commercial Vehicle Engine Oil Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value & Volume

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Grade Market Share Analysis

8.3.3.2.2.           By Demand Category Market Share Analysis

9.    South America Automotive Light Commercial Vehicle Engine Oil Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value & Volume

9.2.  Market Share & Forecast

9.2.1.    By Grade 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 Light Commercial Vehicle Engine Oil Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value & Volume

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Grade Market Share Analysis

9.3.1.2.2.           By Demand Category Market Share Analysis

9.3.2.    Colombia Automotive Light Commercial Vehicle Engine Oil Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value & Volume

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Grade Market Share Analysis

9.3.2.2.2.           By Demand Category Market Share Analysis

9.3.3.    Argentina Automotive Light Commercial Vehicle Engine Oil Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value & Volume

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Grade Market Share Analysis

9.3.3.2.2.           By Demand Category Market Share Analysis

10. Middle East & Africa Automotive Light Commercial Vehicle Engine Oil Market Outlook

10.1.            Market Size & Forecast

10.1.1. By Value & Volume  

10.2.            Market Share & Forecast

10.2.1. By Grade Market Share Analysis

10.2.2. By Demand Category Market Share Analysis

10.2.3. By Country Market Share Analysis

10.2.3.1.     South Africa Market Share Analysis

10.2.3.2.     Turkey 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. South Africa Automotive Light Commercial Vehicle Engine Oil Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value & Volume

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Grade Market Share Analysis

10.3.1.2.2.         By Demand Category Market Share Analysis

10.3.2. Turkey Automotive Light Commercial Vehicle Engine Oil Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value & Volume

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Grade Market Share Analysis

10.3.2.2.2.         By Demand Category Market Share Analysis

10.3.3. Saudi Arabia Automotive Light Commercial Vehicle Engine Oil Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value & Volume

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Grade Market Share Analysis

10.3.3.2.2.         By Demand Category Market Share Analysis

10.3.4. UAE Automotive Light Commercial Vehicle Engine Oil Market Outlook

10.3.4.1.     Market Size & Forecast

10.3.4.1.1.         By Value & Volume

10.3.4.2.     Market Share & Forecast

10.3.4.2.1.         By Grade 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. Royal Dutch Shell plc

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. Pentagon Lubricants Private Limited

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. HINDUJA GROUP

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. Saudi Arabian Oil Co.

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. Total S.A

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. Gazprom

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. LUKOIL oil Company

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. Exxon Mobil Corporation

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. Chevron Corporation

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.              Castrol Ltd.

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 Grade

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Figures and Tables

Frequently asked questions

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The market size of the Global Automotive Light Commercial Vehicle Engine Oil Market was estimated to be USD 22 billion in 2022.

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The mineral, synthetic, and semi-synthetic categories of automotive engine oil make up most of the global market for engine oil. Compared to the synthetic and semi-synthetic oil categories, the mineral engine oil category commands the biggest market share for motor oils globally. As a byproduct of the oil refining process, mineral oil is produced directly from refined crude petroleum oil. Because they are less expensive and more readily available, mineral oils are mostly utilized in automobiles. Additionally, the most fundamental kind of oil and the kind most frequently utilized in most ordinary cars are mineral-based automobile engine oils. Where the weather is not particularly hot or cold, they are better suited for two-wheelers.

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Due to the highest concentration of automobiles, particularly in countries like China, India, and Thailand, the Asia Pacific region is the largest and experiencing the quickest growth in the global motor oil industry. Additionally, India and China are predicted to have the biggest number of vehicles on the road, and India also has the largest market for two-wheelers, all of which will contribute to the expansion of the market for automotive engine oil. The market in North America is distinguished by significant government assistance for energy-efficient car engine oil.

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Growing Global LCV Fleet and Vehicle Sales, Technological Advancements in Engine Oil Formulations, Increased Vehicle Longevity and Maintenance Awareness are the major drivers for the Global Automotive Light Commercial Vehicle Engine Oil Market.

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Srishti Verma

Business Consultant
Press Release

Automotive Light Commercial Vehicle Engine Oil Market to Grow with a CAGR of 6.8% Globally through to 2028

Oct, 2023

Growing Global LCV Fleet and Vehicle Sales, Technological Advancements in Engine Oil Formulations, Increased Vehicle Longevity and Maintenance Awareness are factors driving the Global Automotive Ligh

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