Market Overview:
The global industrial engine oil market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for industrial engine oils from various end-use industries, such as automotive, power, marine, manufacturing and mining. In terms of type, the mineral oil segment is expected to dominate the global industrial engine oil market during the forecast period. However, synthetic oil is projected to grow at a higher CAGR than mineral oil over the forecast period owing to its superior properties that offer better performance than mineral oils.
Product Definition:
Industrial engine oil is a type of lubricant that is used in machinery such as engines and turbines. The oil helps to reduce friction between moving parts, which can extend the life of the equipment. It also helps to protect against wear and corrosion. Industrial engine oils come in a variety of grades, depending on the specific needs of the machinery.
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 (petrochemical), soybean (biodiesel feedstock), and palm kernel/palm olein (food-grade).
Synthetic Oil:
Synthetic oil is a man-made product and has no relation to the mineral, vegetable or animal oils. It is produced by the chemical reaction of carbon monoxide and hydrogen along with other additives such as esters, amines, alcohols and ketones. The primary reason for its production being to cater to the increasing demand from diesel engines which are used in heavy equipment such as construction machinery & trucks that operate at high temperatures.
Application Insights:
Automotive was the largest application segment in 2017 and is projected to continue its dominance over the forecast period. Automotive oils are used for a wide range of applications, including engine oil, transmission fluids, motor oil (for cars/light commercial vehicles), heavy-duty industrial engines and diesel engine oils. The demand for automotive oil has been rising on account of increasing vehicle production across various countries worldwide.
The manufacturing industry is expected to witness significant growth over the coming years owing to increasing industrialization in developing countries such as India and China along with stable economic growth in developed economies such as U.S., Germany and Japan. This trend is expected to drive product demand from manufacturing applications during the forecast period.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing increasing demand for industrial engines oils from various application sectors, such as automotive, power generation, manufacturing industries and marine applications.
The growing manufacturing sector in emerging economies of Asia Pacific including China and India coupled with rising investments in infrastructure development is likely to drive product demand across several end-use industries. Furthermore, rapid growth of automotive industry coupled with stringent government regulations regarding fuel emissions will boost product consumption across this region.
Europe accounted for a significant share of global market revenue owing to high penetration levels of diesel engines along with their widespread usage across different application sectors such as transportation & logistics (road freight), mining (coal) and renewable energy production (solar). However, strict environmental regulations by European Union governments are expected to hamper the regional growth over the next eight years or so.
Growth Factors:
- Increasing demand for industrial engine oil from the transportation sector as a result of the growth in global trade and increasing urbanization.
- The increasing demand for high-performance engine oils from original equipment manufacturers (OEMs) to meet the stringent emission norms across different geographies.
- Stringent environmental regulations encouraging the use of synthetic engine oils over mineral-based ones, thereby driving their demand in developed countries such as Europe and North America.
- Rising investments by automotive OEMs in research and development (R&D) to develop new technologies that would require advanced lubricants, which is expected to fuel the growth of industrial engine oil market during forecast period
Scope Of The Report
Report Attributes
Report Details
Report Title
Industrial Engine Oil Market Research Report
By Type
Mineral Oil, Synthetic Oil, Bio-based Oil
By Application
Automotive, Power, Marine, Manufacturing, Mining
By Companies
Shell, Exxon Mobil, Chevron, BP Global, Fuchs Global, Total Lubricants, PetroChina, Sinopec, Idemitsu Kosan
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
235
Number of Tables & Figures
165
Customization Available
Yes, the report can be customized as per your need.
Global Industrial Engine Oil Market Report Segments:
The global Industrial Engine Oil market is segmented on the basis of:
Types
Mineral Oil, Synthetic Oil, Bio-based 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
Automotive, Power, Marine, Manufacturing, Mining
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
- Chevron
- BP Global
- Fuchs Global
- Total Lubricants
- PetroChina
- Sinopec
- Idemitsu Kosan
Highlights of The Industrial 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
- Synthetic Oil
- Bio-based Oil
- By Application:
- Automotive
- Power
- Marine
- Manufacturing
- Mining
- 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 Industrial 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
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- 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?
Industrial engine oil is a type of oil that is used in engines. It is made up of different types of oils and additives, and it helps to keep the engine running smoothly.
Some of the major players in the industrial engine oil market are Shell, Exxon Mobil, Chevron, BP Global, Fuchs Global, Total Lubricants, PetroChina, Sinopec, Idemitsu Kosan.
The industrial engine oil market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Industrial Engine Oil Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Industrial Engine Oil Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Industrial Engine Oil Market - Supply Chain
4.5. Global Industrial Engine Oil Market Forecast
4.5.1. Industrial Engine Oil Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Industrial Engine Oil Market Size (000 Units) and Y-o-Y Growth
4.5.3. Industrial Engine Oil Market Absolute $ Opportunity
5. Global Industrial Engine Oil Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Industrial Engine Oil Market Size and Volume Forecast by Type
5.3.1. Mineral Oil
5.3.2. Synthetic Oil
5.3.3. Bio-based Oil
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Industrial Engine Oil Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Industrial Engine Oil Market Size and Volume Forecast by Application
6.3.1. Automotive
6.3.2. Power
6.3.3. Marine
6.3.4. Manufacturing
6.3.5. Mining
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Industrial Engine Oil Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Industrial Engine Oil Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Industrial Engine Oil Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Industrial Engine Oil Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Industrial Engine Oil Demand Share Forecast, 2019-2026
9. North America Industrial Engine Oil Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Industrial Engine Oil Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Industrial Engine Oil Market Size and Volume Forecast by Application
9.4.1. Automotive
9.4.2. Power
9.4.3. Marine
9.4.4. Manufacturing
9.4.5. Mining
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Industrial Engine Oil Market Size and Volume Forecast by Type
9.7.1. Mineral Oil
9.7.2. Synthetic Oil
9.7.3. Bio-based Oil
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Industrial Engine Oil Demand Share Forecast, 2019-2026
10. Latin America Industrial Engine Oil Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Industrial Engine Oil Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Industrial Engine Oil Market Size and Volume Forecast by Application
10.4.1. Automotive
10.4.2. Power
10.4.3. Marine
10.4.4. Manufacturing
10.4.5. Mining
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Industrial Engine Oil Market Size and Volume Forecast by Type
10.7.1. Mineral Oil
10.7.2. Synthetic Oil
10.7.3. Bio-based Oil
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Industrial Engine Oil Demand Share Forecast, 2019-2026
11. Europe Industrial Engine Oil Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Industrial Engine Oil Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Industrial Engine Oil Market Size and Volume Forecast by Application
11.4.1. Automotive
11.4.2. Power
11.4.3. Marine
11.4.4. Manufacturing
11.4.5. Mining
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Industrial Engine Oil Market Size and Volume Forecast by Type
11.7.1. Mineral Oil
11.7.2. Synthetic Oil
11.7.3. Bio-based Oil
11.8. Basis Point Share (BS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Industrial Engine Oil Demand Share, 2019-2026
12. Asia Pacific Industrial Engine Oil Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Industrial Engine Oil Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Industrial Engine Oil Market Size and Volume Forecast by Application
12.4.1. Automotive
12.4.2. Power
12.4.3. Marine
12.4.4. Manufacturing
12.4.5. Mining
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Industrial Engine Oil Market Size and Volume Forecast by Type
12.7.1. Mineral Oil
12.7.2. Synthetic Oil
12.7.3. Bio-based Oil
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Industrial Engine Oil Demand Share, 2019-2026
13. Middle East & Africa Industrial Engine Oil Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Industrial Engine Oil Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Industrial Engine Oil Market Size and Volume Forecast by Application
13.4.1. Automotive
13.4.2. Power
13.4.3. Marine
13.4.4. Manufacturing
13.4.5. Mining
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Industrial Engine Oil Market Size and Volume Forecast by Type
13.7.1. Mineral Oil
13.7.2. Synthetic Oil
13.7.3. Bio-based Oil
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Industrial Engine Oil Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Industrial Engine Oil Market: Market Share Analysis
14.2. Industrial Engine Oil Distributors and Customers
14.3. Industrial Engine Oil Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Shell
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Exxon Mobil
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Chevron
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. BP Global
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Fuchs Global
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Total Lubricants
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. PetroChina
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Sinopec
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Idemitsu Kosan
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
