How big is the Asia-pacific Automotive Engine Oils Market?

The Asia-pacific Automotive Engine Oils Market size is expected to reach 7.63 billion Liters in 2024 and grow at a CAGR of 4.30% to reach 8.30 billion Liters by 2026. Read More

What is the current Asia-pacific Automotive Engine Oils Market size?

In 2024, the Asia-pacific Automotive Engine Oils Market size is expected to reach 7.63 billion Liters. Read More

Who are the key players in Asia-pacific Automotive Engine Oils Market?

BP Plc (Castrol), China National Petroleum Corporation, China Petroleum & Chemical Corporation, ExxonMobil Corporation and Royal Dutch Shell Plc are the major companies operating in the Asia-pacific Automotive Engine Oils Market. Read More

Which segment has the biggest share in the Asia-pacific Automotive Engine Oils Market?

In the Asia-pacific Automotive Engine Oils Market, the Passenger Vehicles segment accounts for the largest share by vehicle type. Read More

Which country has the biggest share in the Asia-pacific Automotive Engine Oils Market?

In 2024, China accounts for the largest share by country in the Asia-pacific Automotive Engine Oils Market. Read More

What years does this Asia-pacific Automotive Engine Oils Market cover, and what was the market size in 2023?

In 2023, the Asia-pacific Automotive Engine Oils Market size was estimated at 7.28 billion Liters. The report covers the Asia-pacific Automotive Engine Oils Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-pacific Automotive Engine Oils Market size for years: 2024, 2025 and 2026. Read More

Asia-pacific Automotive Engine Oils Market Trends

Statistics for the 2023 & 2024 Asia-pacific Automotive Engine Oils market trends, created by Mordor Intelligence™ Industry Reports. Asia-pacific Automotive Engine Oils trend report includes a market forecast to 202 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Asia-pacific Automotive Engine Oils Industry

This section covers the major market trends shaping the APAC Automotive Engine Oils Market according to our research experts:

Largest Segment By Vehicle Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Passenger Vehicles</span>

Engine oils are the most used automotive lubricants among all the product types . During 2015-2019, the automotive engine oil consumption in the Asia-Pacific region increased by around 16%. In 2020, engine oils accounted for around 70% of the total automotive lubricant consumption volume in the region.
In 2020, the COVID-19 outbreak resulted in a huge decline in the usage of the existing Asia-Pacific vehicle fleet. As a result, engine oil consumption in the region decreased by around 6.2% during 2019-2020.
Along with the expected recovery in sales and production of automobiles, an increase in the penetration of electric vehicles is expected to have a meagre on engine oil consumption. Considering these factors, the engine oil consumption is expected to grow at a CAGR of 4.73% during the 2021-2026.

Asia-pacific Automotive Engine Oils Market : Largest Segment By Vehicle Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Passenger Vehicles</span>

Understand The Key Trends Shaping This Market

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Largest Country : <span style="font-family: 'regular_bold';color:#0e7db3;">China</span>

During 2015-19, automotive engine oil consumption in Asia-Pacific increased by around 14%. During this period, China was the leading consumer of automotive engine oils in the region, accounting for around 46% of the total engine oil consumption in the region in 2020.
Travel restrictions imposed after the COVID-19 outbreak restricted engine oil consumption across Asia-Pacific in 2020. Singapore was the most affected country, as it recorded a 17.38% drop in consumption during 2019-20, followed by India, which recorded a 16.2% drop.
During 2021-26, India is likely to become the fastest-growing engine oil market, as the consumption is likely to record a CAGR of 6.39%, followed by Indonesia and China, which are estimated to record a CAGR of 5.05% and 5.04%, respectively.