Global Engine Oil Market 2023-2029

Global Engine Oil Market 2023-2029

Engine oil is a type of lubricant specifically designed to protect and improve the performance of an internal combustion engine. It is typically made of base oils and chemical additives that work together to provide lubrication, remove contaminants, decrease friction, and protect engine components. There are several types of engine oil, including mineral oil, synthetic oil, synthetic blend oil, high-mileage oil, and racing oil. The type of oil selected should consider the age of the engine, its operating conditions, and the recommended oil viscosity by engine manufacturers. According to the latest research, the global engine oil market is poised to grow by USD 30.3 billion during 2023-2029, progressing at a CAGR of 5.19% during the forecast period.

The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global engine oil market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the oil type, end user, and region. The global market for engine oil can be segmented by oil type: semi synthetic, fully synthetic, mineral. The semi synthetic segment was the largest contributor to the global engine oil market in 2022. Engine oil market is further segmented by end user: automotive & transportation, heavy equipment, power generation. According to the research, the automotive & transportation segment had the largest share in the global engine oil market. Based on region, the engine oil market is segmented into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America. Asia-Pacific held the largest revenue share in 2022.

Market Segmentation

By oil type: semi synthetic, fully synthetic, mineral

By end user: automotive & transportation, heavy equipment, power generation

By region: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America

The report explores the recent developments and profiles of key vendors in the Global Engine Oil Market, including Shell plc, ExxonMobil Corporation, Castrol Ltd., Gulf Oil LP, Fuchs Petrolub SE, BP plc, Idemitsu Kosan Co., Ltd., Chevron Corporation, among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.



Scope of the Report

• To analyze and forecast the market size of the global engine oil market.
• To classify and forecast the global engine oil market based on oil type, end user, region.
• To identify drivers and challenges for the global engine oil market.
• To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global engine oil market.
• To identify and analyze the profile of leading players operating in the global engine oil market.

• Gain a reliable outlook of the global engine oil market forecasts from 2023 to 2029 across scenarios.
• Identify growth segments for investment.
• Stay ahead of competitors through company profiles and market data.
• The market estimate for ease of analysis across scenarios in Excel format.
• Strategy consulting and research support for three months.
• Print authentication provided for the single-user license.