01-Jun-2020 | Facts and Factors
Findings from Facts and Factors report “Automotive Engine Oil Market By Grade (Mineral, Semi-Synthetic, and Fully-Synthetic), Type (Gasoline, Diesel, and Alternative Fuel), and By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Duty Vehicles, and Motorcycles): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global automotive engine oil market in 2019 was approximately USD 38.72 billion. The market is expected to grow at a CAGR of 4.2% and is anticipated to reach around USD 51.65 billion by 2026.
This specialized and expertise oriented industry research report scrutinizes the technical and commercial business outlook of the automotive engine oil industry. The report analyzes and declares the historical and current trends analysis of the automotive engine oil industry and subsequently recommends the projected trends anticipated to be observed in the automotive engine oil market during the upcoming years.
The automotive engine oil market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire automotive engine oil market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of both volume (Kilo Tons) and value (USD Million) from FY 2016 – 2026.
Browse the full “Automotive Engine Oil Market By Grade (Mineral, Semi-Synthetic, and Fully-Synthetic), Type (Gasoline, Diesel, and Alternative Fuel), and By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Duty Vehicles, and Motorcycles): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/automotive-engine-oil-market-by-grade-mineral-semi-1046
The growing production of automobiles is anticipated to drive the market of automotive engine oil. Sales of automobiles are rising since the last few years as a result of increased spending power of customers coupled with the growing population mainly in regions such as Europe and the Asia Pacific. However, the rising popularity of electric vehicles as an alternative to conventional fuel-powered vehicles is expected to decline the growth rate of the automotive engine oil market in the upcoming years. Also, conventional vehicles cause a huge amount of air pollution and hence the government has implemented strict rules and regulations to mandate the amount of harmful gases released by vehicles.
Conventional automotive engine oil products are anticipated to have moderate growth in the upcoming years due to its high viscosity which leads to significant friction between the moving parts of the automobile which resists the sliding lubricants. Whereas in the case of semi-synthetic oils which are manufactured using Group 2 and Group 3 ingredients have a comparatively large oil changing cycle compared to mineral products. In the case of fully-synthetic engine oil, the oil changing period is long as it has less amount of impurities and sulfur providing the best protection form wear and tear and friction.
The awareness related to the advantages of a fully-synthetic engine amongst the masses is anticipated to drive the automotive engine oil market in the upcoming years. Hybrid vehicle manufacturers are constantly working on research and development to develop new automobile models in European countries. Automobile manufacturers in the European countries are currently focused on the development of new diesel engines in order to reduce carbon emissions and increase fuel efficiency. In Germany, it is anticipated that the demand for alternative fuel engines to increase in the upcoming years as compared to diesel and gasoline engines.
The Asia Pacific had the largest market share in terms of revenue in 2019 and anticipated to continue its dominance in the upcoming years owing to the growing demand for automotive engine oil from countries such as Thailand, Vietnam, and India. American Petroleum Institute and Society of Automotive Engineers have formulated some norms and implemented some strict regulations which have lead to improved quality of the automotive engine oil. Whereas in Europe, a new wave of battery-driven electric vehicles has completely changed the complete scenario of E-Mobility in various countries. Middle East market might show a phenomenal increase in the upcoming years as international companies are investing heavily which might boost the regional market.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 38.72 billion |
Projected Market Size in 2026 |
USD 51.65 billion |
CAGR Growth Rate |
4.2% CAGR |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
Wurth Group, ExxonMobil, Eni Gmbh, Petronas, Sinopec Lubricant Company, Motul, Valvoline, Castrol, Total, Amsoil Inc., Fuchs Petrolub, Lotos, China Petroleum & Chemical Corp., and Others. |
Key Segment |
By Grade, By Type, By Vehicle, By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Some of the leading players in the global market include
Wurth Group, ExxonMobil, Eni Gmbh, Petronas, Sinopec Lubricant Company, Motul, Valvoline, Castrol, Total, Amsoil Inc., Fuchs Petrolub, Lotos, China Petroleum & Chemical Corp., and Others.
This report segments the automotive engine oil market as follows:
By Grade Segmentation Analysis
- Mineral
- Semi-Synthetic
- Fully-Synthetic
By Type Segmentation Analysis
- Gasoline
- Diesel
- Alternative Fuel
By Vehicle Type Segmentation Analysis
- Passenger Cars
- Light Commercial Vehicles
- Heavy Duty Vehicles
- Motorcycles
By Regional Segmentation Analysis
- North America
- Europe
- Germany
- The UK
- France
- Spain
- 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
Rest of Middle East & Africa
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