What is the global market size of Automotive Engine Oil Market?

Global Automotive Engine Oil Market was valued at USD 35.7 Billion in 2021, and it is expected to reach a value of USD 44.51 Billion by 2028, at a CAGR of 3.20% over the forecast period (2022-2028). Read More

Who are the key vendors in the Global Automotive Engine Oil Market?

Mergers and acquisitions are key strategies adopted by prominent Automotive Engine Oil Market players to gain a competitive advantage. Several small, medium and large-scale businesses are currently pursuing mergers and acquisitions with other reputable businesses in order to expand their product offerings and other related services. 'Motul (France)','Petroliam Nasional Berhad (Malaysia)','ExxonMobil (US)','Royal Dutch Shell (UK)','Total S.A. (France)','Fuchs Group (Germany)','Petronas Lubricant International Sdn Bhd (Malaysia)','Amsoil Inc (US)','CASTROL LIMITED (UK)','Chevron Corporation (US)','Oryx Energies SA (Switzerland)','KenolKobil Ltd. (Kenya)','Sinopec (China)','Pennzoil (US)','Equilon Enterprises (US)','Idemitsu Kosan Co., Ltd (Japan)','Leo Lubricants Pvt Ltd. (India)','DANA LUBRICANTS FACTORY LLC (UAE)','Castrol Limited (UK)','HINDUJA GROUP (INDIA)','GP Petroleum Ltd. (India)','Saudi Arabian Oil Co. (Saudi Arabia)','Gazprom (Russia)','ROSNEFT (Russia)','Jiangsu Lopal Tech. Co. Ltd. (China)' Read More

Automotive Engine Oil Market Size, Share, Growth Analysis, By Grade(Mineral, Synthetic, Semi-Synthetic), By Engine Type(Diesel, Gasoline, Alternative Fuel), By Vehicle Type(Passenger Cars, Motorcycle, Heavy Duty Vehicles, Light Commercial Vehicles), By Region - Industry Forecast 2024-2031

Q: Which region accounted for the largest share in Global Automotive Engine Oil Market?

The Asia Pacific region is projected to dominate the global automotive engine oil market. This is due to the presence of a big consumer base as well as increased product production and consumption in nations such as China. To capitalize on the region's enormous potential, product formulators such as Total are boosting their investments in the Asia Pacific region. Automobile multinationals operating in the region have begun to invest extensively in digitizing their manufacturing plants in order to deliver speedier output. Read More

Report ID: SQMIG10C2033 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 91 | Figures: 76

Automotive Engine Oil Market Insights

Automotive Engine Oil Market size was valued at USD 41.15 billion in 2022 and is poised to grow from USD 42.8 billion in 2023 to USD 60.4 billion by 2031, growing at a CAGR of 4% in the forecast period (2024-2031).

Automotive engine oil in cars reduces metal-on-metal contact and hence reduces total friction and damage. Friction is one of the primary sources of engine heat in automobiles, which leads to increased wear and deformation of moving engine parts. The automotive engine's oil forms a thin, lubricating layer on all metal elements, allowing them to slide smoothly over one another and reducing friction. The fact that traditional vehicle engine oil is far less expensive than modern tubes is a primary reason for the Automotive Engine Oil Market growth. Synthetic automotive engine oil also possesses many benefits over conventional oil in terms of vehicle and car part safety, which is further expected to propel the Automotive Engine Oil Market growth forward.

US Automotive Engine Oil Market is poised to grow at a sustainable CAGR for the next forecast year.

Automotive Engine Oil Market Report Snapshots

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Mergers and acquisitions are key strategies adopted by prominent Automotive Engine Oil Market players to gain a competitive advantage. Several small, medium and large-scale businesses are currently pursuing mergers and acquisitions with other reputable businesses in order to expand their product offerings and other related services. 'ExxonMobil', 'Royal Dutch Shell', 'Total S.A.', 'BP Plc', 'Chevron Corporation', 'China Petrochemical Corporation (Sinopec)', 'Fuchs Petrolub SE', 'Idemitsu Kosan Co. Ltd.', 'Valvoline Inc.', 'Indian Oil Corporation Limited', 'Petroliam Nasional Berhad (Petronas)', 'Phillips 66', 'Lukoil', 'SK Lubricants Co. Ltd.', 'Amsoil Inc.', 'Morris Lubricants', 'Motul SA', 'Pennzoil-Quaker State Company', 'Gulf Oil International', 'Nippon Oil Corporation (JX Holdings)'

The globalization of the automobile industry is one of the main reasons propelling the growth of the automotive engine oil market. Spark plugs are widely used in electrical, marine, and aerospace industries, which benefits the market.

Synthetic automotive engine oil is significantly replacing mineral-based engine oil. Alpha-olefins, short-chain hydrocarbon molecules, are converted into polyalpha-olefins, long-chain hydrocarbon polymers, to create synthetic engine oils. Since they share chemical similarities with mineral oils that have been refined from crude oil, developed regions like North America and Europe have a significant demand for them. Synthetic engine oil has the advantage of enhancing fuel efficiency, lowering oil consumption, and extending the time between oil changes. Additionally, synthetic motor lubricants are less volatile than mineral engine oils, more temperature-resistant, and unlikely to oxidize. As a result, it is anticipated that during the forecast period, demand for synthetic motor oil will increase over mineral-based engine oils.

The Asia Pacific region is projected to dominate the automotive engine oil market. This is due to the presence of a big consumer base as well as increased product production and consumption in nations such as China. To capitalize on the region's enormous potential, product formulators such as Total are boosting their investments in the Asia Pacific region. Automobile multinationals operating in the region have begun to invest extensively in digitizing their manufacturing plants in order to deliver speedier output.

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Automotive Engine Oil Market Size, Share, Growth Analysis, By Grade(Mineral, Synthetic, Semi-Synthetic), By Engine Type(Diesel, Gasoline, Alternative Fuel), By Vehicle Type(Passenger Cars, Motorcycle, Heavy Duty Vehicles, Light Commercial Vehicles), By Region - Industry Forecast 2024-2031

Automotive Engine Oil Market Insights

Automotive Engine Oil Market Report Snapshots

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What is the global market size of Automotive Engine Oil Market?

Who are the key vendors in the Automotive Engine Oil Market?

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Which region accounted for the largest share in Automotive Engine Oil Market?

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