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Automotive Engine Oil Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2029

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The global automotive engine oil market is envisioned to value over USD 46 billion by 2029 end and register a CAGR of over 3.2% from 2019 to 2029. The increasing demand for synthetic engine grade oil due to its excellent resistance to thermal break
Automotive Engine Oil Market Global Trends, Market Share, Industry Size, Growth,
Opportunities, and Market Forecast 2019 to 2029
The global automotive engine oil market is envisioned to value over USD 46 billion by
2029 end and register a CAGR of over 3.2% from 2019 to 2029.
The increasing demand for synthetic engine grade oil due to its excellent resistance
to thermal break down & exceptional protection at high temperature is the major
factor which is accelerating the market. The increase in disposable income has led to
a constant surge in sales of the automotive vehicle which has escalated the market.
The market is bifurcated on the basis of engine oil grade, type, vehicle type, and
region. In terms of engine oil grade, synthetic engine oil grade is expected to witness
vast growth. Synthetic engine oil performs smoothly and efficiently at high operating
temperature. This factor is contributing to the market growth. The rising consumer
awareness regarding the high-performance and fuel efficiency is expected to create
lucrative opportunities over the coming years.
Semi-synthetic engine grade is also expected to show growth as well owing to a
longer oil changing cycle. Based on type, gasoline is currently the leader of the
market. The increasing sales of vehicles had a positive influence on gasoline.
However, the rise in demand for electric vehicle and hybrid electric vehicle is
expected to elevate the demand for alternative fuel. The depletion of gasoline and
petroleum will fuel the demand for alternative fuel which will further expand the
automotive engine oil market.
In terms of vehicle type, light commercial vehicles are expected to dominate the
growth of the market. Increasing investment in R&D and rising production of light
commercial vehicle is driving the growth of the market. The expansion of the
automotive industry in regions like Asia-Pacific alongside the reduction in prices of
fuel has further propelled the demand for light commercial vehicles.
Based on the region, North America holds a vast share of the market. The US is home
to some of the major players including Pennzoil, Castrol, Valvoline, and ExxonMobil.
The rise in construction activity has further fueled the demand of LCVs which
stimulated the market.
Asia-Pacific is forecasted to witness substantial growth due to rising product demand
from developing countries like Vietnam, Thailand, and India. The expansion of the
automotive industry is escalating the market in the region. The rapid production of
electric vehicles and hybrid electric vehicles in China will augment the market in the
region. According to The Organisation Internationale des Constructeurs
d'Automobiles (OICA), China will witness an immense rise in automotive vehicle
production. In India, the automotive industry has been witnessing immense sale in
automobiles owing to rising income. There has been a growing preference to fourwheelers which has escalated the demand for passenger cars.
Latin America is also witnessed to show notable growth. Brazil is the largest car
exporter in Latin America. Increasing demand for the car in Columbia and Argentina
will further propel the market in the region.
Multinationals such as HP lubricants have come with their own product which is
compatible with natural gas engines and CNG. Such product launches are
augmenting the market and creating new opportunities.
Established players of the market are Sinopec Petroleum & Chemical Corp.; Castrol.
ExxonMobil Corp.; Petroliam Nasional Berhad (PETRONAS), Valvoline, Inc.; Motul,
Royal Dutch Shell PLC, Fuchas Petrolub SE.
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Global Automotive Engine Oil Market Segmentation:
By Engine Oil Grade
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

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Mineral
Semi-Synthetic
Synthetic
High-Mileage Engine Oil
By Type



Diesel
Gasoline
Alternative Fuel
By Vehicle Type




Motorcycles
Passenger Cars
Heavy-Duty Vehicles
Light Commercial Vehicles
By Region



North America
Europe
Asia Pacific


Latin America
Rest of World
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Competitive Landscape:
● Tier 1 players- established companies in the market share
● Tier 2 players
● Emerging players which are growing rapidly
● New Entrants
FutureWise Key Takeaways
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global automotive engine oil
market by type, by vehicle type, by engine oil grade, and by region
• To cater comprehensive information on factors impacting market growth (drivers,
restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America,
Europe, Asia Pacific, Latin America, and rest of world
• To record evaluate and competitive landscape mapping- product launches,
technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and
core competencies
Inquire further details about this report at: [email protected]
About FutureWise Research:
We specialise in high-growth niche markets, assuring flexibility, agility and
customised solutions for our clients. Through in-depth market insights and
consultancy, we present our clients with the tools they need to be at the forefront of
their industry – a position secured for far more than the near future.
Contact Us:
Company Name: FutureWise Research
Contact Person: Vinay Thaploo
Email: [email protected]
Phone: +44 141 628 9353 / +1 970 279 4295
City: Leeds
Country: United Kingdom
Website: www.futurewiseresearch.com
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