Automotive Engine Oil Market Introduction and Overview
According to SPER Market Research, the Global Automotive Engine Oil Market is estimated to reach USD 56.50 billion by 2033 with a CAGR of 3.09%.
The report includes an in-depth analysis of the Global Automotive Engine Oil Market, including market size and trends, product mix, applications, and supplier analysis.Crude oil is converted into automotive engine oils through a laborious refining process. In addition, a few procedures called refining, synthesis, distillation, and cracking are used to create a variety of basic oils that are then used to make engine oils. These compounds are intended for use with passenger cars, outboard motors, tractors, marine engines, light, medium, and heavy commercial vehicles, and commercial automobiles. In addition, car engine oil keeps moving automotive components apart and lubricates the mechanical parts of the engine, extending the life of the engine and vehicle motors while also minimizing wear and tear.
- October 2022: The new engine oil Valvoline All Fleet Turbo Plus (Haulage Expert), from Valvoline Cummins Private Limited, is designed for heavy-duty high-HP tractor use on the road and other related agricultural applications. Through innovation, the company has expanded the range of products it offers.
- September 2022: Chevron said that its expansion project at its Singapore Manufacturing Plant (SMP) was completed. Most of the parts used in additive packages are made by the firm.
- March 2021: By introducing the new Shell Helix Ultra Hybrid oil for Maserati hybrid engines, which offers excellent protection and long-lasting performance, Shell and Maserati expanded their technological and commercial relationship.
Market Opportunities and Challenges
The market for automobile oil is primarily impacted by the growing demand for conventional oil because it is less expensive than contemporary lubricants. Synthetic automotive lubricants are very popular because of their excellent performance and durable protection.
Important Factors Increasing Automotive Oil Sales: Vehicle production, including medium, light, and heavy vehicles as well as passenger cars, is driving up automotive oil sales. The need for energy-efficient lubricants is rising, which is helping the automobile oil business generate more income. booming government and private sector investment. The high expenses of producing and constructing automobile engines, along with the availability of inexpensive engine oil alternatives, are obstacles that the automotive engine oil market must overcome and are predicted to impede its expansion. Moreover, the growing societal inclination towards electric vehicles, which do not depend on conventional engines, presents a significant obstacle to the industry during the projected time.
Market Competitive Landscape
The automobile engine oil market is characterized by a concentrated competitive environment, wherein the top 10 firms hold a majority of the global market revenue. Major market participants have committed significant resources to the creation and research of many motor oil products. The market leaders' growth strategies include a diverse product range, enhanced operational efficiency, and innovative and safe technology development for engine oil application. Castrol, Chevron Corporation, ExxonMobil Corporation, Fuchs Petrolub SE, HINDUJA GROUP, Pentagon Lubricants Private Limited, RelaDyne, Royal Dutch Shell plc, Total S.A., Valvoline, Inc. are some of the major companies involved in the global automotive engine oil market.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By Sales Channel, By Engine Type, By Vehicle Type, By Grade.
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
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| Companies Covered | Castrol, Chevron Corporation, ExxonMobil Corporation, Fuchs Petrolub SE, HINDUJA GROUP, Pentagon Lubricants Private Limited, RelaDyne, Royal Dutch Shell plc, Total S.A., Valvoline, Inc.
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COVID-19 Impact on Global Automotive Engine Oil Market
The COVID-19 pandemic caused a significant disruption to the worldwide automotive supply chain, as motor vehicle production and sales abruptly stopped in most areas. Global auto manufacturing output was negatively impacted by these work stoppages. Due to its application in enhancing engine efficiency and lowering emissions, the automotive sector directly impacts the market for engine oil. On the other hand, following the relaxation of restrictions in the second half of 2021, the market is anticipated to develop steadily due to increasing automobile activity and a subsequent market recovery.
Key Target Audience:
- Lubricant Manufacturers and Suppliers
- Oil and Gas Companies,
- Investors and Financial Analyst.
Our in-depth analysis of the Automotive Engine Oil Market includes the following segments:
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By Type: |
Conventional Engine Oil
High-Mileage Engine Oil
Synthetic Blend Oil
Synthetic Engine Oil
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By Sales Channel: |
Aftermarket
OEM
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By Engine Type: |
Alternative Fuel
Diesel
Gasoline
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By Vehicle Type: |
LCVs
Motorcycles
Passenger Cars
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By Grade: |
Mineral
Semi-Synthetic
Synthetic
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Key Topics Covered in the Report:
- Global Automotive Engine Oil Market Size (FY’2023-FY’2033)
- Overview of Global Automotive Engine Oil Market.
- Segmentation of Global Automotive Engine Oil Market By Type (Conventional Engine Oil, High-Mileage Engine Oil, Synthetic Blend Oil, Synthetic Engine Oil).
- Segmentation of Global Automotive Engine Oil Market By Sales Channel (Aftermarket, OEM).
- Segmentation of Global Automotive Engine Oil Market By Engine Type (Alternative Fuel, Diesel, Gasoline).
- Segmentation of Global Automotive Engine Oil Market By Vehicle Type (LCVs, Motorcycles, Passenger Cars).
- Segmentation of Global Automotive Engine Oil Market By Grade (Mineral, Semi-Synthetic, Synthetic).
- Statistical Snap of Global Automotive Engine Oil Market
- Expansion Analysis of Global Automotive Engine Oil Market
- Problems and Obstacles in Global Automotive Engine Oil Market
- Competitive Landscape in the Global Automotive Engine Oil Market
- Impact of COVID-19 and Demonetization on Global Automotive Engine Oil Market
- Details on Current Investment in Global Automotive Engine Oil Market
- Competitive Analysis of Global Automotive Engine Oil Market
- Prominent Players in the Global Automotive Engine Oil Market
- SWOT Analysis of Global Automotive Engine Oil Market
- Global Automotive Engine Oil Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst