Automotive Engine Oil Market Size, Share, Trends, Growth and Forecast 2028

Automotive Engine Oil Market

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

Category: Automotive Report Format : PDF Pages: 178 Report Code: ZMR-6764 Published Date: Feb-2022 Status : Published
Market Size in 2021 Market Forecast in 2028 CAGR (in %) Base Year
USD 38.12 Billion USD 48.19 Billion 3.5% 2020

Automotive Engine Oil Market Size And Industry Analysis

The global Automotive Engine Oil Market accrued earnings worth approximately 38.12 (USD Billion) in 2021 and is predicted to gain revenue of about 48.19 (USD Billion) by 2028, is set to record a CAGR of nearly 3.5% over the period from 2022 to 2028. The report offers assessment and analysis of the Automotive Engine Oil Market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2021 along with a forecast from 2022 to 2028 based on revenue (USD Billion).

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Automotive Engine Oil Market: Outlook

Automotive engine oils are derived from crude oil during complex refinery process. Moreover, refining, synthesis, distillation, and cracking are few processes that manufacture many kinds of base oils and utilized for manufacturing engine oils. These compounds are designed for light, medium, and heavy commercial vehicles as well as passenger vehicles, marine engines, tractors, outboard motors, and commercial cars. Apart from this, automotive engine oil helps in lubrication of mechanical parts of vehicle engine and separates moving automotive component, thereby reducing wear & tear of engine and ensuring elongated life of engines & vehicle motors.

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Automotive Engine Oil Market: Growth Factors

Expansion of automotive engine oil industry over forecast timespan is due to surge in vehicle production & demand for synthetic & traditional products. Additionally, product is utilized in transmission chamber and vehicle engine for reducing friction between engine components, thereby helping market explore new horizons of growth. The key function of engine oil is to avoid engine part corrosion as a result of oxidation and this will pave a way for massive product penetration across various sectors. Surging necessity of high mileage engine oil in developed nations for sports & luxury vehicles will spur business growth. In addition to this, technological breakthroughs and rise in research activities related to manufacture of product will embellish expansion of automotive engine oil industry over forecast timespan. However, low price engine oil alternative & preference for electric vehicles can impede industry sphere.

Furthermore, engine oil is used as an additive in automotive and acts as anti-oxidant dispersant, detergent, and anti-foam agent in vehicle sector. This will drive market trends. Surge in customer awareness pertaining to fuel efficacy and necessity for high vehicle performance & longevity will translate into massive market demand.

Report Scope:

Report Attributes Report Details
Report Name Automotive Engine Oil Market Size Report
Market Size in 2021 USD 38.12 Billion
Market Forecast in 2028 USD 48.19 Billion
Growth Rate CAGR of 3.5%
Number of Pages 188
Forecast Units Value (USD Billion), and Volume (Units)
Key Companies Covered ENI GmbH, Petroleum Nasional Berhad (PETRONAS), ExxonMobil Corp., Motul, Castrol, Sinopec Petroleum & Chemical Corp., Royal Dutch Shell PLC, Fuchs Petrolub SE, and Valvoline, Inc.
Segments Covered By Engine Type, By Vehicle Type, By Engine Oil, and By Region
Base Year 2020
Historical Year 2012 to 2017
Forecast Year 2021 - 2028
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Automotive Engine Oil Market: Regional Insights

Asia Pacific Automotive Engine Oil Market To Retain Dominant Position Over 2022-2028

Regional market expansion over analysis period can be attributed to rise in demand for product in thriving automotive sector in countries such as Indonesia, Malaysia, Vietnam, and India. Apart from this, low production costs and wages have spiked sales of product in sub-continent, thereby driving regional market size. Flourishing transport & logistics activities in Asia Pacific has resulted in surge in heavy vehicles on roads. This, in turn, has bolstered use of automotive engine oils in the region. Production of green products as a result of awareness pertaining to hazards of fuel emissions for environment will proliferate growth of automotive engine oil market in region.

Competitive Outlook

  • ENI GmbH
  • Petroleum Nasional Berhad (PETRONAS)
  • ExxonMobil Corp.
  • Motul
  • Castrol
  • Sinopec Petroleum & Chemical Corp.
  • Royal Dutch Shell PLC
  • Fuchs Petrolub SE
  • Valvoline

The global Automotive Engine Oil Market is segmented as follows:

By Engine Type

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

Table Of Content

Methodology

FrequentlyAsked Questions

Expansion of automotive engine oil industry over forecast timespan is due to surge in vehicle production & demand for synthetic & traditional products.   

According to Zion market research report, the global Automotive Engine Oil Market accrued earnings worth approximately 38.12 (USD Billion) in 2021 and is predicted to gain revenue of about 48.19 (USD Billion) by 2028, is set to record a CAGR of nearly 3.5% over the period from 2022 to 2028.

Asia Pacific will contribute lucratively towards the global market earnings over the projected timeline. The regional market surge is subject to rise in demand for product in thriving automotive sectors in countries such as Indonesia, Malaysia, Vietnam, and India. 

The key market participants include ENI GmbH, Petroleum Nasional Berhad (PETRONAS), ExxonMobil Corp., Motul, Castrol, Sinopec Petroleum & Chemical Corp., Royal Dutch Shell PLC, Fuchs Petrolub SE, and Valvoline, Inc.

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