United States Automotive Engine Oils - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2015 - 2026
The United States Automotive Engine Oils Market size is estimated at 2.92 Billion Liters in 2024, and is expected to reach 2.97 Billion Liters by 2026, growing at a CAGR of 0.85% during the forecast period (2024-2026).
Key Highlights
- Largest Segment by Vehicle Type - Passenger Vehicles : The highest proportion of passenger vehicle population in the United States is attributed to the highest engine oil consumption in the passenger vehicles segment.
- Fastest Segment by Vehicle Type - Passenger Vehicles : As the social distancing measures are being slowly eased in the country, the usage of passenger vehicles is likely to increase, thereby boosting their engine oil consumption.
US Automotive Engine Oils Market Trends
Largest Segment By Vehicle Type : Passenger Vehicles
- During 2015-2020, the engine oil consumption in the country witnessed a fluctuating trend and recorded a negative CAGR of 3.95%.
- Most of the engine oils used in the United States meet the latest standards set by the International Lubricant Specification Advisory Committee (ILSAC) and the American Petroleum Institute (API). Although these synthetic grades have higher profit margins per gallon, they also support higher drain intervals. Hence, higher penetration of synthetic engine oils significantly restrained the growth of this product type, in terms of volume, during 2015-2020.
- Post the COVID-19 outbreak, the engine oil change requirements of vehicles further declined. The usage of the existing automotive fleet is gradually boosting the engine oil volume consumption, which is likely to recover at a CAGR of 2.99% during the forecast period.
US Automotive Engine Oils Industry Overview
The United States Automotive Engine Oils Market is fairly consolidated, with the top five companies occupying 74.66%. The major players in this market are BP PLC (Castrol), ExxonMobil Corporation, Phillips 66 Lubricants, Royal Dutch Shell Plc and Valvoline Inc. (sorted alphabetically).
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
- 1 Executive Summary & Key Findings
- 2 Introduction
- 2.1 Study Assumptions & Market Definition
- 2.2 Scope of the Study
- 2.3 Research Methodology
- 3 Key Industry Trends
- 3.1 Automotive Industry Trends
- 3.2 Regulatory Framework
- 3.3 Value Chain & Distribution Channel Analysis
- 4 Market Segmentation
- 4.1 By Vehicle Type
- 4.1.1 Commercial Vehicles
- 4.1.2 Motorcycles
- 4.1.3 Passenger Vehicles
- 4.2 By Product Grade
- 5 Competitive Landscape
- 5.1 Key Strategic Moves
- 5.2 Market Share Analysis
- 5.3 Company Profiles
- 5.3.1 BP PLC (Castrol)
- 5.3.2 Chevron Corporation
- 5.3.3 CITGO
- 5.3.4 ExxonMobil Corporation
- 5.3.5 MOTOREX
- 5.3.6 Motul
- 5.3.7 Phillips 66 Lubricants
- 5.3.8 Royal Dutch Shell Plc
- 5.3.9 TotalEnergies
- 5.3.10 Valvoline Inc.
- 6 Appendix
- 6.1 Appendix-1 References
- 6.2 Appendix-2 List of Tables & Figures
- 7 Key Strategic Questions for Lubricants CEOs
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