Market Size of Global Automotive Engine Oils Industry
| 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.
