What is the current Norway Automotive Engine Oils Market size?

In 2024, the Norway Automotive Engine Oils Market size is expected to reach 14.20 million Liters. Read More

Who are the key players in Norway Automotive Engine Oils Market?

BP PLC (Castrol), ExxonMobil Corporation, FUCHS, Royal Dutch Shell Plc and TotalEnergies are the major companies operating in the Norway Automotive Engine Oils Market. Read More

Which segment has the biggest share in the Norway Automotive Engine Oils Market?

In the Norway Automotive Engine Oils Market, the Commercial Vehicles segment accounts for the largest share by vehicle type. Read More

Which is the fastest growing segment in the Norway Automotive Engine Oils Market?

In 2024, the Commercial Vehicles segment accounts for the fastest growing by vehicle type in the Norway Automotive Engine Oils Market. Read More

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

In 2023, the Norway Automotive Engine Oils Market size was estimated at 14.17 million Liters. The report covers the Norway Automotive Engine Oils Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Norway Automotive Engine Oils Market size for years: 2024, 2025 and 2026. Read More

Norway Automotive Engine Oils Market Trends

Statistics for the 2023 & 2024 Norway Automotive Engine Oils market trends, created by Mordor Intelligence™ Industry Reports. Norway 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 Norway Automotive Engine Oils Industry

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

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

During 2015-2019, engine oil consumption decreased at a CAGR of 1.79%. This trend was majorly due to a significant rise in EV penetration in the PVs segment and the increased preference for synthetic oils in the CVs segment.
In 2020, overall automotive sales registered a decline of about 8.23% in the country due to the impact of the COVID-19 outbreak. The motorcycles segment was the only segment that witnessed growth, resulting in a smaller decline in the demand for engine oils.
Over the forecast period, the consumption of engine oils is projected to record a negative CAGR of 0.35%, with commercial vehicles majorly driving the demand; also caused by Norway aiming to achieve 100% electric vehicle penetration by 2025. The motorcycles segment is also expected to add to the demand for engine oils in the country.