About Automotive Engine Oil
Automotive Engine Oil is used in the engines as well as in the transmission chamber of a vehicle so that they can minimize the friction between the components of engine assembly Moreover, engine oils are approved by OEMs for use in their vehicles. In addition to that, another function of the engine oil is to maintain the temperature of the engine chamber as well as prevent them from corrosion of engine parts due to oxidation. These oils are derived from petroleum, which is further processed to enhance the quality of the engine oil. The rising sales and consumption of vehicles have increased the market of automotive engine oil However, the cumulating shift towards electrical vehicle may slow down the growth rate of automotive engine vehicles in the forecasted period.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Automotive Engine Oil market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
BP (United Kingdom), Chevron (United States), Exxon Mobil (United States), Valvoline (United States), Total Lubricants (France), Royal Dutch shell plc (The Netherlands) and Amsoil (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Lukoil (Russia) and Petronas (Malaysia).
Segmentation Overview
AMA Research has segmented the market of Global Automotive Engine Oil market by Type (Full Synthetic Motor Oil, Semi-Synthetic Motor Oil, Synthetic Blend Motor Oil, Conventional Motor Oil and High Mileage Motor Oil), Application (Engine coolant and Engine lubricant) and Region.
On the basis of geography, the market of Automotive Engine Oil has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Engine Type, the sub-segment i.e. Gasoline will boost the Automotive Engine Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Additives, the sub-segment i.e. Dispersants will boost the Automotive Engine Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Vehicle Type, the sub-segment i.e. Passenger Cars will boost the Automotive Engine Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channels, the sub-segment i.e. Original Equipment Manufacturer (OEM) will boost the Automotive Engine Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Engine Grade, the sub-segment i.e. Single-Grade will boost the Automotive Engine Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Base Oil Type, the sub-segment i.e. Synthetic will boost the Automotive Engine Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Rising Trend of Technological Advancements and Increasing R&D Activities by Manufacturers has Increased the Market Demand
Market Growth Drivers:
Increasing Production of Automobiles and Demand for the Conventional and Synthetic Products are the Key Factors Driving this Industry and Slow Economic Recovery and Government Subsidies for Car Loans and Leasing, it is Expected to Witness a Rise in Sales
Challenges:
The Volatile Price of Raw Materials and Lack of Environment-Friendly Engine Oils that may Dampen the Growth of Engine Oil Market
Restraints:
Rising shifts towards electrical vehicles coupled with stringent emission norms are a major factor restraining the production of vehicles that contain engines, as they emit large amounts of harmful gases. Industries and vehicles are major sources of air pollution and hence, governments have mandated the number of exhaust contents that can be emitted from the vehicles in order to restrict the emission from vehicles.
Opportunities:
Automotive vehicle sales have shown a constant rise over the past few years, mainly in the Asia Pacific and Europe regions, as a result of the growing population and consumer spending capacity.
Market Leaders and their expansionary development strategies
In June 2022, ExxonMobil Lubricants Pvt Ltd, based in Bengaluru, India, launched Mobil Super, a next-generation passenger car lubricant with a refreshed label and new and improved packaging. The improved packaging will feature a new QR code-based anti-counterfeit feature on the bottle to help consumers verify the authenticity of the product.
Chevron Products Company, a division of Chevron U.S.A. Inc., and Novvi LLC today announced the first production of 100% renewable base oil from Novvi’s Deer Park, Houston Facility.
Key Target Audience
Automotive Engine Oil Manufactures, Automotive Engine Oil Distributors, Potential Investors, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.