Automotive Engine Oil Market
Automotive Engine Oil Market Forecasts to 2030 - Global Analysis By Product (Synthetic Oil, Conventional Oil, Semi-Synthetic Oil, High-Mileage Oil and Other Products), Vehicle Type, Additive Type, Grade, Distribution Channel, End User and By Geography
According to Stratistics MRC, the Global Automotive Engine Oil Market is accounted for $36.59 billion in 2024 and is expected to reach $49.38 billion by 2030 growing at a CAGR of 4.8% during the forecast period. Automotive engine oil is a lubricant specifically formulated for internal combustion engines in vehicles. Its primary role is to reduce friction between engine components, minimizing wear and tear. It also helps cool the engine by dissipating heat, prevents corrosion, cleans deposits, and seals gaps between parts for better performance. It is essential in maintaining engine health, improve fuel efficiency, and extend the vehicle’s lifespan by ensuring optimal performance.
According to the China Association of Automobile Manufacturers (CAAM), in 2022, approximately 23.56 million passenger cars and 3.3 million commercial vehicles were sold in China.
Market Dynamics:
Driver:
Growing automotive aftermarket
As vehicles age, they require more frequent oil changes and servicing, which drives the need for engine lubricants. The expansion of aftermarket services, including oil changes, repairs, and upgrades, creates a steady demand for engine oils. Additionally, the rise in vehicle ownership and the trend towards regular maintenance to extend vehicle lifespan further contribute to the increased consumption of engine oils, supporting market growth. This sector’s expansion thus plays a crucial role in sustaining engine oil demand.
Restraint:
Fluctuating crude oil prices
Since conventional engine oils are derived from petroleum, changes in crude oil prices directly impact the cost of raw materials. Volatile prices can lead to unpredictable oil prices for consumers and manufacturers, causing budget uncertainties and potentially reducing demand. Additionally, high crude oil prices can drive up production costs, which may result in higher retail prices for engine oils, further constraining market growth and impacting consumer purchasing behaviour.
Opportunity:
Development of synthetic and high-performance oils
Synthetic oils offer superior lubrication, improved engine cleanliness, and extended oil change intervals compared to conventional oils, attracting both consumers and manufacturers. High-performance oils are designed for advanced engines, enhancing fuel efficiency and reducing emissions, which aligns with stringent regulations and performance requirements. This innovation drives market growth by appealing to consumers seeking optimal engine care and efficiency, and by meeting the needs of modern, high-tech vehicles, thus expanding market opportunities.
Threat:
Electric vehicle adoption
With the rise in EV sales, there is a reduced demand for engine oils used in internal combustion engines. As more consumers and manufacturers shift towards electric and hybrid vehicles, which have different maintenance requirements, the overall market for automotive engine oil experiences a decline. This shift towards electrification is accelerating the decrease in oil consumption, challenging the growth prospects of the conventional engine oil market.
Covid-19 Impact
The covid-19 pandemic significantly impacted the automotive engine oil market, as global vehicle production and sales declined due to lockdowns, supply chain disruptions, and reduced consumer demand. Automotive maintenance activities were delayed, leading to lower engine oil consumption. However, the market saw a gradual recovery as restrictions eased, with a resurgence in vehicle sales and maintenance. Increased focus on personal transportation and aftermarket services also boosted demand for engine oils, especially in regions experiencing recovery from the pandemic.
The high-mileage oil segment is expected to be the largest during the forecast period
The high-mileage oil segment is estimated to be the largest during the forecast period. High-mileage oil is specifically formulated for vehicles with over 75,000 miles on their engines. It contains additives that help reduce oil consumption, minimize leaks, and restore performance in aging engines. These oils often include seal conditioners to prevent gasket and seal deterioration, and enhanced detergents to clean engine deposits. It helps maintain engine efficiency and extend the vehicle’s lifespan by addressing the common issues faced by older engines, making them ideal for aging vehicles.
The anti-wear agents segment is expected to have the highest CAGR during the forecast period
The anti-wear agents segment is anticipated to witness the highest CAGR growth during the forecast period. Anti-wear agents in automotive engine oil are additives designed to protect engine components from friction and wear. They form a protective layer on metal surfaces, reducing direct contact between moving parts and minimizing wear and tear. Anti-wear agents are crucial for preventing premature engine damage and optimizing engine efficiency.
Region with largest share:
The automotive engine oil market in the Asia-Pacific region anticipated to witness the largest share, driven by increasing vehicle ownership and rising automotive production. Countries like China, India, and Japan are major contributors, with expanding automotive industries and a rising focus on vehicle maintenance. Additionally, the region's large automotive aftermarket sector supports continued demand for engine oils, as consumers prioritize engine efficiency and longevity amid increasing vehicle usage.
Region with highest CAGR:
In North America, the automotive engine oil market is expected to have highest CAGR, driven by high vehicle ownership rates and a strong automotive aftermarket. The market also benefits from advanced technologies in engine oils. Additionally, a well-established aftermarket sector and consumer preference for premium products contribute to sustained growth. The North American market is characterized by a focus on innovation and high standards for engine performance and protection.
Key players in the market
Some of the key players profiled in the Automotive Engine Oil Market include Castrol, Mobil 1, Valvoline, Shell, Chevron, TotalEnergies, BP, ExxonMobil, Pennzoil, Amsoil, Royal Purple, Lubrizol, Fuchs Petrolub, Havoline, Liqui Moly, Red Line, Kendall Motor Oil, JXTG Nippon Oil & Energy, Eneos and Quaker State.
Key Developments:
In September 2024, Shell launched three new motor oil products for passenger cars. These products are specifically designed to meet the stringent requirements of original equipment manufacturers (OEMs) and to comply with the latest industry specifications. The launch reflects Shell's commitment to innovation and performance in automotive lubricants, providing enhanced protection and efficiency for modern vehicles.
In August 2024, Castrol India launched a new range of engine oils, featuring EDGE Hybrid, EDGE Euro Car, and EDGE SUV. This new EDGE range is specifically designed to offer enhanced performance and adhere to the latest Original Equipment Manufacturer (OEM) specifications. The EDGE Hybrid oil caters to hybrid vehicles, ensuring optimal performance and efficiency.
Products Covered:
• Synthetic Oil
• Conventional Oil
• Semi-Synthetic Oil
• High-Mileage Oil
• Other Products
Vehicle Types Covered:
• Passenger Cars
• Light Commercial Vehicles (LCVs)
• Heavy Commercial Vehicles (HCVs)
• Motorcycles
• Off-Road Vehicles
• Other Vehicle Types
Additive Types Covered:
• Detergents
• Anti-wear Agents
• Viscosity Index Improvers
• Corrosion Inhibitors
• Foam Inhibitors
• Other Additive Types
Grades Covered:
• Single-Grade
• Multi-Grade
Distribution Channels Covered:
• Online Sales
• Offline Sales
End Users Covered:
• OEMs (Original Equipment Manufacturers)
• Aftermarket
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Automotive Engine Oil Market, By Product
5.1 Introduction
5.2 Synthetic Oil
5.3 Conventional Oil
5.4 Semi-Synthetic Oil
5.5 High-Mileage Oil
5.6 Other Products
6 Global Automotive Engine Oil Market, By Vehicle Type
6.1 Introduction
6.2 Passenger Cars
6.3 Light Commercial Vehicles (LCVs)
6.4 Heavy Commercial Vehicles (HCVs)
6.5 Motorcycles
6.6 Off-Road Vehicles
6.7 Other Vehicle Types
7 Global Automotive Engine Oil Market, By Additive Type
7.1 Introduction
7.2 Detergents
7.3 Anti-wear Agents
7.4 Viscosity Index Improvers
7.5 Corrosion Inhibitors
7.6 Foam Inhibitors
7.7 Other Additive Types
8 Global Automotive Engine Oil Market, By Grade
8.1 Introduction
8.2 Single-Grade
8.3 Multi-Grade
9 Global Automotive Engine Oil Market, By Distribution Channel
9.1 Introduction
9.2 Online Sales
9.3 Offline Sales
9.3.1 Retailers
9.3.2 Dealers
9.3.3 Automotive Service Centers
10 Global Automotive Engine Oil Market, By End User
10.1 Introduction
10.2 OEMs (Original Equipment Manufacturers)
10.3 Aftermarket
11 Global Automotive Engine Oil Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Castrol
13.2 Mobil 1
13.3 Valvoline
13.4 Shell
13.5 Chevron
13.6 TotalEnergies
13.7 BP
13.8 ExxonMobil
13.9 Pennzoil
13.10 Amsoil
13.11 Royal Purple
13.12 Lubrizol
13.13 Fuchs Petrolub
13.14 Havoline
13.15 Liqui Moly
13.16 Red Line
13.17 Kendall Motor Oil
13.18 JXTG Nippon Oil & Energy
13.19 Eneos
13.20 Quaker State
List of Tables
1 Global Automotive Engine Oil Market Outlook, By Region (2022-2030) ($MN)
2 Global Automotive Engine Oil Market Outlook, By Product (2022-2030) ($MN)
3 Global Automotive Engine Oil Market Outlook, By Synthetic Oil (2022-2030) ($MN)
4 Global Automotive Engine Oil Market Outlook, By Conventional Oil (2022-2030) ($MN)
5 Global Automotive Engine Oil Market Outlook, By Semi-Synthetic Oil (2022-2030) ($MN)
6 Global Automotive Engine Oil Market Outlook, By High-Mileage Oil (2022-2030) ($MN)
7 Global Automotive Engine Oil Market Outlook, By Other Products (2022-2030) ($MN)
8 Global Automotive Engine Oil Market Outlook, By Vehicle Type (2022-2030) ($MN)
9 Global Automotive Engine Oil Market Outlook, By Passenger Cars (2022-2030) ($MN)
10 Global Automotive Engine Oil Market Outlook, By Light Commercial Vehicles (LCVs) (2022-2030) ($MN)
11 Global Automotive Engine Oil Market Outlook, By Heavy Commercial Vehicles (HCVs) (2022-2030) ($MN)
12 Global Automotive Engine Oil Market Outlook, By Motorcycles (2022-2030) ($MN)
13 Global Automotive Engine Oil Market Outlook, By Off-Road Vehicles (2022-2030) ($MN)
14 Global Automotive Engine Oil Market Outlook, By Other Vehicle Types (2022-2030) ($MN)
15 Global Automotive Engine Oil Market Outlook, By Additive Type (2022-2030) ($MN)
16 Global Automotive Engine Oil Market Outlook, By Detergents (2022-2030) ($MN)
17 Global Automotive Engine Oil Market Outlook, By Anti-wear Agents (2022-2030) ($MN)
18 Global Automotive Engine Oil Market Outlook, By Viscosity Index Improvers (2022-2030) ($MN)
19 Global Automotive Engine Oil Market Outlook, By Corrosion Inhibitors (2022-2030) ($MN)
20 Global Automotive Engine Oil Market Outlook, By Foam Inhibitors (2022-2030) ($MN)
21 Global Automotive Engine Oil Market Outlook, By Other Additive Types (2022-2030) ($MN)
22 Global Automotive Engine Oil Market Outlook, By Grade (2022-2030) ($MN)
23 Global Automotive Engine Oil Market Outlook, By Single-Grade (2022-2030) ($MN)
24 Global Automotive Engine Oil Market Outlook, By Multi-Grade (2022-2030) ($MN)
25 Global Automotive Engine Oil Market Outlook, By Distribution Channel (2022-2030) ($MN)
26 Global Automotive Engine Oil Market Outlook, By Online Sales (2022-2030) ($MN)
27 Global Automotive Engine Oil Market Outlook, By Offline Sales (2022-2030) ($MN)
28 Global Automotive Engine Oil Market Outlook, By Retailers (2022-2030) ($MN)
29 Global Automotive Engine Oil Market Outlook, By Dealers (2022-2030) ($MN)
30 Global Automotive Engine Oil Market Outlook, By Automotive Service Centers (2022-2030) ($MN)
31 Global Automotive Engine Oil Market Outlook, By End User (2022-2030) ($MN)
32 Global Automotive Engine Oil Market Outlook, By OEMs (Original Equipment Manufacturers) (2022-2030) ($MN)
33 Global Automotive Engine Oil Market Outlook, By Aftermarket (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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