Automotive Engine Oil Market Earnings To Reach USD 48.19 Bn By 2028

01-Feb-2022 | Zion Market Research

As per study of Zion Market, automotive engine oil garnered revenue worth USD 38.12 billion in 2021 and is anticipated to gain returns about US$ 48.19 billion by 2028. Additionally, Automotive Engine Oil market is prognosis to record CAGR of almost 3.5% in 2022-2028. Additionally, growing necessity for reducing wear & tear of moving parts of vehicles will promulgate circumference of growth of automotive engine oil market. In addition to this, rise in vehicle sales in countries of Asia Pacific and Europe will steer expansion of automotive engine oil industry. Surge in automotive production and increase in customer purchasing capacity will pave a way for market penetration. Furthermore, availability of strong infrastructure facility and swift urbanization will craft a lucrative growth graph for automotive engine oil industry. New concepts such as DIY in automotive sector have contributed tremendously towards market size.

Mineral Oil Segment To Contribute Largest Share Towards Overall Market By 2028

Growth of this engine oil segment over forecasting timeframe is owing to its massive utilization as lubricant in routine vehicle repairs and servicing activities. Reportedly, mineral oils are humungously used in cars as they are cost-efficient and easily available.

Global Automotive Engine Oil Market

Diesel To Dominate Engine Type Segment In 2022-2028

Expansion of diesel segment over forecast timespan is subject to huge demand for diesel for heavy vehicles as well as four wheelers. Apart from this, it has been found that diesel engines are more efficient in comparison to petrol engines. Additionally, diesel fuel is cheaper as compared to petrol and offers more effective corrosion resistance to vehicles due to its catalytic converter, thereby increasing lifespan of vehicles.

Passenger Cars Segment To Witness Marked Growth In Next Six Years

Swift urbanization and increase in per capita income of consumers is predicted to create huge demand for passenger cars in coming years. In addition to this, rise in leisure and recreational activities owing to high stress levels & hectic work schedules will boost segmental surge.

Asia Pacific Automotive Engine Oil Industry To Expand Enormously Over Forecast Timeframe

Elevation of regional market size over next six years can be credited to high focus on enhancing product quality & performance of vehicles in countries such as Vietnam, India, and Thailand. Massive demand for passenger vehicles in Malaysia, Indonesia, China, and Japan will proliferate size of regional market in coming years.

Key players influencing market growth and profiled in study are ENI GmbH, Royal Dutch Shell PLC, Petroleum Nasional Berhad (PETRONAS), ExxonMobil Corp., Sinopec Petroleum & Chemical Corp., Motul, Castrol, Fuchs Petrolub SE, and Valvoline, Inc.

Browse the full Automotive Engine Oil Market- By Engine Type (Diesel, Alternative Fuel, And Gasoline), By Vehicle Type (Motorcycles, Heavy-Duty Vehicles, Light Commercial Vehicles, And Passenger Cars), And By Engine Oil (Fully Synthetic Oil, Semi-Synthetic Oil, And Mineral Oil): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2022–2028.” Report at https://www.zionmarketresearch.com/report/automotive-engine-oil-market

The global Automotive Engine Oil Market is segmented as follows:

By Engine Type

  • Diesel
  • Gasoline
  • Alternative Fuel

By Vehicle Type

  • Motorcycles
  • Heavy-Duty Vehicles
  • Light Commercial Vehicles
  • Passenger Cars

By Engine Oil

  • Fully Synthetic Oil
  • Semi-Synthetic Oil
  • Mineral Oil

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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