Automotive Engine Oil Market by Type (Alternative Fuel, Diesel, Gasoline), Grade (Mineral, Semi-Synthetic, Synthetic), Vehicle Type - Global Forecast 2024-2030

Automotive Engine Oil Market by Type (Alternative Fuel, Diesel, Gasoline), Grade (Mineral, Semi-Synthetic, Synthetic), Vehicle Type - Global Forecast 2024-2030

The Automotive Engine Oil Market size was estimated at USD 42.84 billion in 2023 and expected to reach USD 44.45 billion in 2024, at a CAGR 3.92% to reach USD 56.08 billion by 2030.

Automotive engine oil, commonly known as motor oil, plays a critical role in the function and longevity of vehicle engines. It serves several key purposes: it lubricates engine components to minimize friction, helps to cool engine parts, prevents corrosion, and cleans sludge from the engine. By performing these functions, engine oil ensures that the engine operates smoothly and efficiently, which is essential for vehicle maintenance and performance. The expansion of the automotive industry, along with rising vehicle production and sales, is driving the demand for automotive engine oil. Governments worldwide are imposing stricter regulations on emissions and fuel economy which led to the need for more efficient engine oils that can help in achieving these environmental targets, prompting innovations in engine oil formulations. Volatility in raw material prices and availability of alternative technologies hampers the market growth. Rising development of engine technologies that often require specialized engine oils to operate effectively, such as synthetic oils that can handle higher temperatures and pressures are expected to create opportunities for market growth.

Regional Insights

In the Americas, there is a high demand for automotive engine oils, primarily driven by the substantial number of vehicles on the road and significant consumer awareness about regular vehicle maintenance. Additionally, stringent environmental regulations in North America require high-performance and environmentally friendly engine oils, which influence market trends and product offerings. The APAC region is witnessing rapid growth in the automotive engine oil market, which is primarily driven by increasing vehicle sales in countries such as China, India, and Southeast Asia. The rising middle-class population, coupled with the increased affordability of vehicles, significantly contributes to the demand for automotive engine oils. In this region, there is also a noticeable shift towards synthetic oils, which offer better performance and are suitable for the region’s diverse climatic conditions. In Europe, the market is advanced with a strong inclination towards products that are eco-friendly and technologically advanced, due to strict environmental standards. The Middle East shows a preference for high-performance engine oils due to the harsher driving conditions. Africa, as an emerging market, shows potential growth in automotive engine oils driven by gradually increasing vehicle sales and an expanding automotive sector.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Automotive Engine Oil Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Rising production and sale of automotive vehicles
• Government initiatives for adoption of fuel-efficient and safe vehicles

Market Restraints

• Volatility in raw material supply and costs of engine oils

Market Opportunities

• Rising development of bio-based automotive engine oils
• Increasing potential with the rising expansion of automotive aftermarket

Market Challenges

• Environmental regulations and sustainability concerns of engine oils

Market Segmentation Analysis

• Type: Growing usage of alternative fuels that accommodate higher moisture and acid levels resulting from fuel combustion processes
• Vehicle Type: High potential for automotive engine oil in heavy-duty vehicles to endure higher pressures and constant use under demanding conditions

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Automotive Engine Oil Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Automotive Engine Oil Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Valvoline Global Launches Advanced Synthetic Motor Oils for Marine and Powersport Applications

Valvoline Global has introduced a new range of Valvoline 4-stroke Full Synthetic Premium Motor Oil specifically engineered for marine and powersport vehicles. The portfolio includes Valvoline Ultimate Powersport Full Synthetic 4-Stroke Motor Oil and Valvoline Full Synthetic 4-Stroke Marine Oil. These products provide enhanced wear protection 50% better than industry standards and up to eight times the rust defense, crucial for combating the corrosion prevalent in marine settings.

Shell Introduces Advanced Synthetic Motor Oils for Enhanced Vehicle Performance and Protection

Shell Lubricants expanded its product portfolio with the introduction of two advanced synthetic engine oils tailored specifically for the passenger car motor oil (PCMO) segment. These include the Shell Helix HX6 5W-30 and Shell Helix SUV 5W-30, both compliant with Bharat Stage VI (BS-VI) emissions standards. Designed for multifuel compatibility, these motor oils represent a significant advancement in automotive lubricants, offering substantial benefits in terms of engine protection, fuel efficiency, and longevity.

Uno Minda Introduces New Range of BS VI-Compliant Engine Oils for India’s 2-Wheeler Segment

Uno Minda has launched a diverse selection of automotive engine oils tailored for the Indian two-wheeler market, specifically designed to comply with BS VI emission standards. These lubricants are available in three distinct formulations: PerfoMaxx (mineral grade recommended for 100cc – 125cc motorcycles and scooters), Purosynth (semi-synthetic oil suitable for 125cc - 150cc motorcycles), and Ultimo (fully synthetic oil for motorcycles over 150cc). Additionally, the Royal E variant is crafted exclusively for Royal Enfield motorcycles equipped with UCE engines.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Automotive Engine Oil Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Automotive Engine Oil Market, highlighting leading vendors and their innovative profiles. These include Brakes India, Castrol Limited by BP PLC, Chevron Corporation, China Petroleum & Chemical Corporation, DANA Lubricants Factory LLC, Exxon Mobil Corporation, Fuchs Petrolub SE, GP Petroleums Ltd., Lumax Auto Technologies, Motul S.A., Panama Petrochem Ltd., Pentagon Lubricants, Perstorp Holding AB, Petroleum Nasional Berhad, Saudi Aramco Base Oil Company, Shell PLC, Steelbird International, The Phillips 66 Company, The PJSC Lukoil Oil Company, Total Lubrifiants SA, Uno Minda, Valvoline Inc., and Würth Group.

Market Segmentation & Coverage

This research report categorizes the Automotive Engine Oil Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Type
• Alternative Fuel
• Diesel
• Gasoline
• Grade
• Mineral
• Semi-Synthetic
• Synthetic
• Vehicle Type
• Heavy-Duty Vehicles
• Light Commercial Vehicles
• Passenger Cars

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year