Automotive Engine Oil Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Forecast Data Period | 2024 - 2026 |
| Historical Data Period | 2015 - 2019 |
| CAGR (2024 - 2026) | 2.97 % |
| Market Concentration | High |
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Automotive Engine Oil Market Analysis
The Global Automotive Engine Oils Market size is estimated at 17.28 Billion Liters in 2024, and is expected to reach 18.32 Billion Liters by 2026, growing at a CAGR of 2.97% during the forecast period (2024-2026).
- Largest Segment by Vehicle Type - Passenger Vehicles : The large fleet size of passenger vehicles across the globe has resulted in this sector accounting for the highest engine oil consumption among the various vehicle types.
- Fastest Segment by Vehicle Type - Motorcycles : The sales boost for motorcycles in several countries despite the COVID-19 pandemic is likely to continue and boost engine oil consumption by this sector in the future.
- Largest Regional Market - Asia-Pacific : Asia-Pacific is home to countries with large vehicle fleets like China, India & Indonesia. As a result, the engine oil consumption by this sector was highest in Asia-Pacific.
- Fastest Growing Regional Market - Asia-Pacific : The low penetration of synthetic oils and expected high growth rates of vehicle population in countries like India are likely to drive the lubricant consumption in APAC.
Automotive Engine Oil Market Trends
This section covers the major market trends shaping the 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, global automotive engine oil consumption increased at a CAGR of 2.5%. In 2020, engine oils accounted for around 78% of the total automotive lubricant consumption volume globally.
- In 2020, the COVID-19 outbreak resulted in a huge decline in the usage of the existing global vehicle fleet due to a reduction in business activities. As a result, the passenger vehicles and motorcycles segments witnessed the largest drop in engine oil consumption in 2020 compared to 2019.
- Along with the expected recovery in sales and production of motor vehicles, an increase in the penetration of electric vehicles is expected to impact engine oil consumption slightly. Therefore, due to such factors, engine oil consumption is expected to register a CAGR of 3.72% during 2021-2026.
Largest Region : <span style="font-family: 'regular_bold';color:#0e7db3;">Asia-Pacific</span>
- During 2015-2019, the global automotive engine oil consumption increased at a CAGR of over 2%. During this period, Asia-Pacific was the leading consumer of automotive engine oils and accounted for around 43% of the global volume, followed by North America and Europe.
- The travel restrictions imposed after the COVID-19 outbreak restricted engine oil consumption in 2020. North America was the most affected region as it witnessed a 17.5% drop in consumption during 2019-2020, followed by Europe (a 15.8% drop).
- Asia-Pacific is expected to be the fastest-growing engine oil market as the consumption is anticipated to increase at a CAGR of 4.73%, followed by Africa and South America (with an expected CAGR of 4.07% and 2.97%, respectively), during 2021-2026. The expected recovery in automotive sales and production from 2022 will likely drive this growth.
Automotive Engine Oil Industry Overview
The Global Automotive Engine Oils Market is moderately consolidated, with the top five companies occupying 40.16%. The major players in this market are BP PLC (Castrol), China National Petroleum Corporation, ExxonMobil Corporation, Royal Dutch Shell PLC and TotalEnergies (sorted alphabetically).
Automotive Engine Oil Market Leaders
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BP PLC (Castrol)
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China National Petroleum Corporation
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ExxonMobil Corporation
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Royal Dutch Shell PLC
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TotalEnergies
*Disclaimer: Major Players sorted in no particular order
Automotive Engine Oil Market News
- January 2022: Effective April 1, ExxonMobil Corporation was organized along three business lines - ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon Solutions.
- December 2021: ExxonMobil introduced a line of synthetic engine oils, i.e., Mobil Super Pro, for SUVs in India.
- October 2021: Castrol, one of Malaysia's major automotive lubricant manufacturers, introduced Castrol Power1 Ultimate, a brand-new type of 100% synthetic engine oil that promises exceptional performance and endurance.
Automotive Engine Oil Market Report - Table of Contents
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
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4.1 By Vehicle Type
- 4.1.1 Commercial Vehicles
- 4.1.2 Motorcycles
- 4.1.3 Passenger Vehicles
- 4.2 By Product Grade
-
4.3 By Region
- 4.3.1 Africa
- 4.3.1.1 Egypt
- 4.3.1.2 Morocco
- 4.3.1.3 Nigeria
- 4.3.1.4 South Africa
- 4.3.1.5 Rest of Africa
- 4.3.2 Asia-Pacific
- 4.3.2.1 China
- 4.3.2.2 India
- 4.3.2.3 Indonesia
- 4.3.2.4 Japan
- 4.3.2.5 Malaysia
- 4.3.2.6 Philippines
- 4.3.2.7 Singapore
- 4.3.2.8 South Korea
- 4.3.2.9 Thailand
- 4.3.2.10 Vietnam
- 4.3.2.11 Rest of Asia-Pacific
- 4.3.3 Europe
- 4.3.3.1 Bulgaria
- 4.3.3.2 France
- 4.3.3.3 Germany
- 4.3.3.4 Italy
- 4.3.3.5 Norway
- 4.3.3.6 Poland
- 4.3.3.7 Russia
- 4.3.3.8 Spain
- 4.3.3.9 United Kingdom
- 4.3.3.10 Rest of Europe
- 4.3.4 Middle East
- 4.3.4.1 Iran
- 4.3.4.2 Qatar
- 4.3.4.3 Saudi Arabia
- 4.3.4.4 Turkey
- 4.3.4.5 UAE
- 4.3.4.6 Rest of Middle East
- 4.3.5 North America
- 4.3.5.1 Canada
- 4.3.5.2 Mexico
- 4.3.5.3 United States
- 4.3.5.4 Rest of North America
- 4.3.6 South America
- 4.3.6.1 Argentina
- 4.3.6.2 Brazil
- 4.3.6.3 Colombia
- 4.3.6.4 Rest of South America
5. Competitive Landscape
- 5.1 Key Strategic Moves
- 5.2 Market Share Analysis
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5.3 Company Profiles
- 5.3.1 BP PLC (Castrol)
- 5.3.2 Chevron Corporation
- 5.3.3 China National Petroleum Corporation
- 5.3.4 China Petroleum & Chemical Corporation
- 5.3.5 ENEOS Corporation
- 5.3.6 ExxonMobil Corporation
- 5.3.7 Idemitsu Kosan Co. Ltd
- 5.3.8 Royal Dutch Shell PLC
- 5.3.9 TotalEnergies
- 5.3.10 Valvoline Inc.
- *List Not Exhaustive
6. Appendix
- 6.1 Appendix-1 References
- 6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
Automotive Engine Oil Industry Segmentation
| By Vehicle Type | Commercial Vehicles | |
| Motorcycles | ||
| Passenger Vehicles | ||
| By Region | Africa | Egypt |
| Morocco | ||
| Nigeria | ||
| South Africa | ||
| Rest of Africa | ||
| By Region | Asia-Pacific | China |
| India | ||
| Indonesia | ||
| Japan | ||
| Malaysia | ||
| Philippines | ||
| Singapore | ||
| South Korea | ||
| Thailand | ||
| Vietnam | ||
| Rest of Asia-Pacific | ||
| By Region | Europe | Bulgaria |
| France | ||
| Germany | ||
| Italy | ||
| Norway | ||
| Poland | ||
| Russia | ||
| Spain | ||
| United Kingdom | ||
| Rest of Europe | ||
| By Region | Middle East | Iran |
| Qatar | ||
| Saudi Arabia | ||
| Turkey | ||
| UAE | ||
| Rest of Middle East | ||
| By Region | North America | Canada |
| Mexico | ||
| United States | ||
| Rest of North America | ||
| By Region | South America | Argentina |
| Brazil | ||
| Colombia | ||
| Rest of South America |
Automotive Engine Oil Market Research FAQs
How big is the Global Automotive Engine Oils Market?
The Global Automotive Engine Oils Market size is expected to reach 17.28 billion Liters in 2024 and grow at a CAGR of 2.97% to reach 18.32 billion Liters by 2026.
What is the current Global Automotive Engine Oils Market size?
In 2024, the Global Automotive Engine Oils Market size is expected to reach 17.28 billion Liters.
Who are the key players in Global Automotive Engine Oils Market?
BP PLC (Castrol), China National Petroleum Corporation, ExxonMobil Corporation, Royal Dutch Shell PLC and TotalEnergies are the major companies operating in the Global Automotive Engine Oils Market.
Which segment has the biggest share in the Global Automotive Engine Oils Market?
In the Global Automotive Engine Oils Market, the Passenger Vehicles segment accounts for the largest share by vehicle type.
Which region has the biggest share in the Global Automotive Engine Oils Market?
In 2024, Asia-Pacific accounts for the largest share by region in the Global Automotive Engine Oils Market.
What years does this Global Automotive Engine Oils Market cover, and what was the market size in 2023?
In 2023, the Global Automotive Engine Oils Market size was estimated at 16.74 billion Liters. The report covers the Global Automotive Engine Oils Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Automotive Engine Oils Market size for years: 2024, 2025 and 2026.
Automotive Engine Oil Industry Report
Statistics for the 2024 Automotive Engine Oil market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Automotive Engine Oil analysis includes a market forecast outlook 202 and historical overview. Get a sample of this industry analysis as a free report PDF download.
