Automotive Engine Oil Market - Global Industry Analysis

Automotive Engine Oil Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Automotive Report Format : PDF Report Code: ZMR-6764 Status : Upcoming

Description

Global Automotive Engine Oil Market: Overview

Automotive engine oils are obtained from crude oil and are being extracted with the use of complex refinery process. Synthesis, cracking, refining or distillation are some of the processes which produce several base oils and are used for engine oil production. Automotive engine oil is usually designed for light/medium/heavy commercial vehicles, passenger & commercial cars, marine engines, outboard motors, agricultural tractors, and many more. Automotive engine oil has high saturation levels, better volatility, thermal stability, and oxidation. Also, automotive engine oil lubricates the mechanical components of the engine and separates the moving parts. This in turn minimizes the wear in the engine while ensuring a long service life.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Global Automotive Engine Oil Market: Growth Factors

The global automotive engine oil market is growing at an exponential rate. A significant rise in automobile production is the major factor spurring the growth of the global market. Increase in disposable income, rise in spending power, and increase in standard of living are some of the factors that have led to increase in sales of automotive vehicles thereby raising the demand for automotive engine oil. Further, growing necessity to reduce fuel consumption, increase in concerns regarding emissions, and rise in awareness for environment protection are some of the additional factors that are boosting the market growth as automotive engine oils enhance the efficiency of engines and are actively involved in minimizing emissions. In addition to this, automotive engine oil is highly preferred over mineral oil-based stocks owing to its several advantages. This includes lesser pour points for enhanced operational low temperatures, higher saturation level for better soot-handling abilities, no inherent contaminants to quicken acid formation or corrosion, and better thermal stability & oxidation for long service life. This has ultimately enhanced the global automotive engine oil market growth. However, introduction of electric vehicles in the market and growing inclination towards it may impede the growth of the global automotive engine oil market. On the other hand, increase in awareness of consumers for high-performance variants can generate numerous opportunities for the global market over the forecast period.

The outbreak of Covid-19 in the year 2020 has affected the global automotive engine oil market in multifaceted ways. Nation-wide lockdown and restriction on transportation & traveling had a negative impact on commercial and passenger vehicles. These limitations have also impacted the sales of motorcycles and cars during the pandemic. In addition to this, the outbreak also led to disruption in availability of raw material for the production of engine oil. All such factors resulted in a setback for the growth of the automotive engine oil market. However, with ease in restrictions and all the business gaining traction amid Covid-19, the global market is expected to grow at a healthy rate during the forecast period.

Global Automotive Engine Oil Market: Segmentation

The global automotive engine oil market is split based on engine type, engine oil, vehicle type, and region. Based on the engine type, the global automotive engine oil market is classified into diesel, gasoline, and alternative fuel. The engine oil consists of fully synthetic oil, semi-synthetic oil, and mineral oil. Motorcycles, heavy-duty vehicles, light commercial vehicles, and passenger cars are the vehicle types in the automotive engine oil market.

Global Automotive Engine Oil Market: Regional Analysis

Among the regions, Asia Pacific is estimated to rule the global automotive engine oil market and may retain its dominance over the forecast period. This is majorly attributed to increase in automotive vehicles sales in developing economies such as India, Vietnam, and Thailand due to rise in disposable income and increase in spending power. In addition to this, Japan and China being the major countries involved in production of vehicles in high volume have also led to increase in demand for automotive engine oils. Further, rapidly expanding transportation & logistics sector in Asia Pacific has increased the use of heavy vehicles thereby fostering market growth. Also, increase in awareness regarding emission and fuel emission has equally contributed to the growth of the market in this region. On the other hand, markets in Middle East & Africa and Latin America are estimated to grow at a steady rate during the forecast period.

Global Automotive Engine Oil Market: Competitive Players

The global automotive engine oil market is highly fragmented. Adoption of innovative & safe technology for the development of engine oil, mergers & acquisitions of small & medium-sized companies by large enterprises for product portfolio & business expansion are some of the strategies adopted by the key players. The dominating players that are operating in the global market include ExxonMobil Corp., Motul, Sinopec Petroleum & Chemical Corp., ENI GmbH, Royal Dutch Shell PLC, Fuchs Petrolub SE, Petroleum Nasional Berhad (PETRONAS), Castrol, and Valvoline, Inc.

Global Automotive Engine Oil Market: Regional Segment Analysis

  • 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

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

Table Of Content

Choose License Type

Request the coronavirus impact analysis across industries and markets

FrequentlyAsked Questions

The global automotive engine oil market is growing at an exponential rate. A significant rise in automobile production is the major factor spurring the growth of the global market. Increase in disposable income, rise in spending power, and increase in standard of living are some of the factors that have led to increase in sales of automotive vehicles thereby raising the demand for automotive engine oil. Furthermore, increase in awareness of consumers for high-performance variants can generate numerous opportunities for the global automotive engine oil market over the forecast period.

The dominating players that are operating in the global market include ExxonMobil Corp., Motul, Sinopec Petroleum & Chemical Corp., ENI GmbH, Royal Dutch Shell PLC, Fuchs Petrolub SE, Petroleum Nasional Berhad (PETRONAS), Castrol, and Valvoline, Inc.

Among the regions, Asia Pacific is estimated to rule the global automotive engine oil market and may retain its dominance over the forecast period. This is majorly attributed to increase in automotive vehicles sales in developing economies such as India, Vietnam, and Thailand due to rise in disposable income and increase in spending power. In addition to this, Japan and China being the major countries involved in production of vehicles in high volume have also led to increase in demand for automotive engine oils. Further, rapidly expanding transportation & logistics sector in Asia Pacific has increased the use of heavy vehicles thereby fostering market growth.

HappyClients

Office Address

Contact Us

Zion Market Research
Tel: +1 (844) 845-5245
USA/Canada Toll Free No.+1 (855) 465-4651

Asia Pacific Office

3rd Floor, Mrunal Paradise, Opp Maharaja Hotel, Pimple Gurav, Pune 411061, Maharashtra, India
Phone No 020-46277770

Contact #

US OFFICE NO +1 (844) 845-5245
US/CAN TOLL FREE +1 (855) 465-4651
Email: sales@zionmarketresearch.com

We Are On Social

Business Hours

Our support available to help you 24 hours a day, five days a week.

Monday - Friday: 9AM - 6PM

Saturday - Sunday: Closed