Market Overview:
The global engine oil market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the global engine oil market can be attributed to the increasing demand for passenger cars and commercial vehicles, and the growing awareness about vehicle maintenance. In terms of type, the mineral oil segment is expected to dominate the global engine oil market during the forecast period. However, synthetic oils are projected to grow at a higher CAGR than mineral oils during the forecast period owing to their superior properties such as high viscosity index (VI), thermal stability, and low volatility. In terms of application, commercial vehicles are expected to account for a larger share of the global engine oil market than passenger cars and motorcycles during 2018-2030.
Product Definition:
Engine oil is a slippery, colorless fluid that is used to lubricate the moving parts of an engine. It also helps to keep the engine cool by transferring heat away from the pistons.
Mineral Oil:
Mineral oil is a type of engine oil, which is widely used in the automotive industry. It contains paraffin waxes and oils, which are derived from crude oil. The major raw materials that go into the manufacturing of mineral oils include crude oil and natural gas liquids (NGL).
Synthesis Oil:
Synthesis oil is a blend of mineral and synthetic oils. It is produced by the blending of base stock oil with a high-performance engine oil. The purpose behind producing synthesis oil is to provide better protection for metal surfaces against wear and tear, this also helps in reducing the overall maintenance cost of the vehicle. Synthesis oils are used as an alternative to conventional motor oils when maximum performance is required from a particular type of engine or application area such as racing or cold weather operation etc.
Application Insights:
The commercial vehicle segment accounted for the largest share of over 60.0% in 2017 and is projected to witness significant growth from 2018 to 2030. The growing demand for diesel and gasoline engine vehicles in developed as well as developing countries including Germany, China, India, Brazil among others is expected to drive the product demand over the forecast period.
Passenger car application segment followed the commercial vehicle segment in terms of market share and is also anticipated to grow at a significant rate during the forecast period owing to increasing consumer disposable income levels coupled with rising per capita automotive ownership rates across various regions including Asia Pacific will have a positive impact on industry growth over the next eight years.
Regional Analysis:
Asia Pacific accounted for the largest share of over 40% in 2017. The region is expected to witness significant growth on account of rapid industrialization and increasing automotive production in countries, such as China, India, and Japan. Furthermore, rising disposable income levels coupled with a growing population will drive the demand for commercial vehicles in this region.
The European market was valued at USD X billion in 2017 owing to stringent government regulations regarding fuel emissions along with high standards of vehicle safety mandated by organizations like Euro NCAP and American National Standards Institute (ANSI). North America emerged as the second-largest consumer due to early adoption of advanced technologies across various industries including automotive which has resulted into higher penetration rates observed across this region. Moreover, presence of key manufacturers including Ford Motor Company; General Motors Company; Fiat Chrysler Automobiles N.V.
Growth Factors:
- Increasing demand for automobiles due to rising population and income levels in developing countries is expected to drive the engine oil market.
- Stringent emission norms by regulatory authorities are prompting Original Equipment Manufacturers (OEMs) to increasingly use high-quality engine oils, which is anticipated to propel the growth of the engine oil market during the forecast period.
- The increasing popularity of synthetic engine oils over mineral-based ones is projected to boost the growth of this market in the near future.
- Growing demand for fuel-efficient vehicles has led OEMs towards using low viscosity engine oils, thereby propelling the growth of this market segment during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Engine Oil Market Research Report
By Type
Mineral Oil, Synthesis Oil
By Application
Commercial Vehicle, Passenger Car, Motorcycle
By Companies
Shell, Exxon Mobil, BP, Total, Chevron Corporation, Lukoil, Sinopec Lubricant, Valvoline, CNPC, Petronas, Shell, FUCHS
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
134
Number of Tables & Figures
94
Customization Available
Yes, the report can be customized as per your need.
Global Engine Oil Market Report Segments:
The global Engine Oil market is segmented on the basis of:
Types
Mineral Oil, Synthesis Oil
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Commercial Vehicle, Passenger Car, Motorcycle
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Shell
- Exxon Mobil
- BP
- Total
- Chevron Corporation
- Lukoil
- Sinopec Lubricant
- Valvoline
- CNPC
- Petronas
- Shell
- FUCHS
Highlights of The Engine Oil Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Mineral Oil
- Synthesis Oil
- By Application:
- Commercial Vehicle
- Passenger Car
- Motorcycle
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Engine Oil Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Engine oil is a lubricant that helps to reduce friction and wear in an engine. It is also used to protect the engine from corrosion.
Some of the key players operating in the engine oil market are Shell, Exxon Mobil, BP, Total, Chevron Corporation, Lukoil, Sinopec Lubricant, Valvoline, CNPC, Petronas, Shell, FUCHS.
The engine oil market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Engine Oil Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Engine Oil Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Engine Oil Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Engine Oil Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Engine Oil Market Size & Forecast, 2020-2028 4.5.1 Engine Oil Market Size and Y-o-Y Growth 4.5.2 Engine Oil Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Mineral Oil
5.2.2 Synthesis Oil
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Commercial Vehicle
6.2.2 Passenger Car
6.2.3 Motorcycle
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Engine Oil Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Engine Oil Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Mineral Oil
9.6.2 Synthesis Oil
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Commercial Vehicle
9.10.2 Passenger Car
9.10.3 Motorcycle
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Mineral Oil
10.6.2 Synthesis Oil
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Commercial Vehicle
10.10.2 Passenger Car
10.10.3 Motorcycle
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Mineral Oil
11.6.2 Synthesis Oil
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Commercial Vehicle
11.10.2 Passenger Car
11.10.3 Motorcycle
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Mineral Oil
12.6.2 Synthesis Oil
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Commercial Vehicle
12.10.2 Passenger Car
12.10.3 Motorcycle
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Mineral Oil
13.6.2 Synthesis Oil
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Commercial Vehicle
13.10.2 Passenger Car
13.10.3 Motorcycle
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Engine Oil Market: Competitive Dashboard
14.2 Global Engine Oil Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Shell
14.3.2 Exxon Mobil
14.3.3 BP
14.3.4 Total
14.3.5 Chevron Corporation
14.3.6 Lukoil
14.3.7 Sinopec Lubricant
14.3.8 Valvoline
14.3.9 CNPC
14.3.10 Petronas
14.3.11 Shell
14.3.12 FUCHS