Automotive engine oil market to grow at a CAGR of 3.7%: Highlights on COVID-19 analysis, recovery, and latest trends - Technavio

NEW YORK, Feb. 14, 2023 /PRNewswire/ -- The global automotive engine oil market size is estimated to increase by 1,016.72 million l between 2022 and 2027. The market's growth momentum will accelerate at a CAGR of 3.7%. The report also includes historic market data from 2017 to 2021. In 2017, the automotive engine oil market was valued at 4,841.50 million l. COVID-19 had the most negative impact on the global automotive industry in recent years, resulting in a steep fall in demand and a large-scale disruption of the supply chain. It has exerted intense pressure on an already-stressed global automotive market. Yet, there are high predictions that few countries are bringing manufacturing facilities and production back on track, indicating that the supply side is on a restoration line. Discover some insights on the market - Request a sample report

Key trends - Advances in engine oil technology are a key trend in the market. The use of advanced technologies is increasing, which is leading to the development of advanced engine oil. Prominent vendors are investing in improving the efficiency of engine oil by making use of advanced antioxidants, surfactants, high-pressure agents, and superior corrosion inhibitors. In advanced bonding technology, high-pressure lubricants formulated through the chemical treatment of hydrocarbons are used. Such lubricants can handle extreme temperatures and pressure. These factors are expected to drive the growth of the market during the forecast period. Know more – Buy the Report!

Automotive engine oil market - Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity

Automotive engine oil market – Vendor analysis
Vendor landscape –

The global automotive engine oil market is fragmented, with the presence of several international and domestic vendors. A few prominent vendors that offer automotive engine oil in the market are AMSOIL Inc., BP Plc, Chevron Corp., China Petrochemical Corp., DMax Lubricants GmbH, Eni Spa, Exxon Mobil Corp., FUCHS PETROLUB SE, Gazpromneft Lubricants Ltd., Grupa LOTOS SA, GS Global Corp., Hinduja Group Ltd., MOTUL SA, Nandan Group, Petroliam Nasional Berhad, PJSC LUKOIL, Repsol SA, Shell plc, TotalEnergies SE, and Valvoline Inc. and others.

Vendors compete based on factors such as quality, price, service, brand image, distribution, and marketing. Major vendors are focusing on manufacturing automotive engines that produce less emission. Thus, automotive engine manufacturers have been using advanced automotive engine technology to meet the growing demand for advanced vehicles. Such developments will drive the market growth during the forecast period.

Vendor offerings -

• BP Plc - The company offers automotive engine oils such as Visco 7000 5W-30, Visco 7000 C 5W-40, and Visco 5000 5W-30.
• Chevron Corp. - The company offers automotive engine oils under the brand Havoline for commercial transportation, marine, and passenger vehicles.
• China Petrochemical Corp. - The company offers automotive engine oils such as TULUX T400 Diesel Engine Oil, TULUX T300 Diesel Engine Oil, and TULUX T500 Diesel Engine Oil.
• Eni Spa - The company offers automotive engine oils such as i-Sint Professional, i-Base, and i-Sint.

Automotive engine oil market - Segmentation assessment

Segment overview
Technavio has segmented the market based on type (diesel, petrol, and alternative fuels) and application (passenger vehicles and commercial vehicles). 

• The diesel segment will account for a significant share of the market's growth during the forecast period. Diesel engines have higher fuel efficiency than other engines. They also have higher viscosity and contain more additives, thereby ensuring better performance. These benefits will drive the growth of the segment during the forecast period.

Geography overview
Based on geography, the global automotive engine oil market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global automotive engine oil market.

• APAC is estimated to account for 48% of the growth of the global market during the forecast period. The demand for automobiles is growing in the region. Moreover, awareness about the advantages of using synthetic oil in automobiles is also growing in APAC, which will drive the growth of the regional market. The region has some of the fastest-growing nations in the world, such as China and India, in terms of population, economic growth, and infrastructural development. Factors such as growing employment opportunities, increasing trade and logistics activities, and the establishment of new manufacturing industries and plants are driving socio-economic developments in the region. Such developments will fuel the growth of the regional automotive market during the forecast period.

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Automotive engine oil market – Market dynamics

Leading drivers - The growing demand for full synthetic engine oil is driving market growth. Full synthetic engine oil offers various advantages when compared to conventional engine oil, which has increased its demand. It uses high-quality synthetic base stock with advanced additives and lubricants, which increases its performance. In addition, full synthetic engine offers better protection against wear and tear and extreme pressure and temperature. Such factors will drive the growth of the global market during the forecast period.

Major challenges - The growing availability of fake automotive lubricants is challenging the market. As the market is fragmented, it faces supply-chain vulnerabilities owing to high volume supplies of automotive engine oil globally. As a result, the availability of counterfeit automotive lubricants has increased. Moreover, customers find it difficult to identify authentic and genuine products, as counterfeit products have names and logos that are similar to genuine products. Hence, the availability of counterfeit versions of engine oil may impede the growth of the global market during the forecast period.

Drivers and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this automotive engine oil market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the automotive engine oil market between 2023 and 2027
• Precise estimation of the size of the automotive engine oil market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the automotive engine oil market across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of automotive engine oil market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 (million L)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 (million L)
• Exhibit 16: Chart on Global Market- Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market- Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global automotive engine oil market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global automotive engine oil market 2017 - 2021 (million L)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 (million L)

• 4.3 Application Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 (million L)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 (million L)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 (million L)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments 
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type 
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Diesel - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Diesel - Market size and forecast 2022-2027 (million L)
• Exhibit 35: Data Table on Diesel - Market size and forecast 2022-2027 (million L)
• Exhibit 36: Chart on Diesel - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Diesel - Year-over-year growth 2022-2027 (%)

• 6.4 Petrol - Market size and forecast 2022-2027
• Exhibit 38: Chart on Petrol - Market size and forecast 2022-2027 (million L)
• Exhibit 39: Data Table on Petrol - Market size and forecast 2022-2027 (million L)
• Exhibit 40: Chart on Petrol - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Petrol - Year-over-year growth 2022-2027 (%)

• 6.5 Alternative fuels - Market size and forecast 2022-2027
• Exhibit 42: Chart on Alternative fuels - Market size and forecast 2022-2027 (million L)
• Exhibit 43: Data Table on Alternative fuels - Market size and forecast 2022-2027 (million L)
• Exhibit 44: Chart on Alternative fuels - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Alternative fuels - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Type 
• Exhibit 46: Market opportunity by Type (million L)

7 Market Segmentation by Application

• 7.1 Market segments 
• Exhibit 47: Chart on Application - Market share 2022-2027 (%)
• Exhibit 48: Data Table on Application - Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 49: Chart on Comparison by Application
• Exhibit 50: Data Table on Comparison by Application

• 7.3 Passenger vehicles - Market size and forecast 2022-2027
• Exhibit 51: Chart on Passenger vehicles - Market size and forecast 2022-2027 (million L)
• Exhibit 52: Data Table on Passenger vehicles - Market size and forecast 2022-2027 (million L)
• Exhibit 53: Chart on Passenger vehicles - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Passenger vehicles - Year-over-year growth 2022-2027 (%)

• 7.4 Commercial vehicles - Market size and forecast 2022-2027
• Exhibit 55: Chart on Commercial vehicles - Market size and forecast 2022-2027 (million L)
• Exhibit 56: Data Table on Commercial vehicles - Market size and forecast 2022-2027 (million L)
• Exhibit 57: Chart on Commercial vehicles - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Commercial vehicles - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Application 
• Exhibit 59: Market opportunity by Application (million L)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 61: Chart on Market share by geography 2022-2027 (%)
• Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 63: Chart on Geographic comparison
• Exhibit 64: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 65: Chart on APAC - Market size and forecast 2022-2027 (million L)
• Exhibit 66: Data Table on APAC - Market size and forecast 2022-2027 (million L)
• Exhibit 67: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 (million L)
• Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 (million L)
• Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027
• Exhibit 73: Chart on North America - Market size and forecast 2022-2027 (million L)
• Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 (million L)
• Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 77: Chart on South America - Market size and forecast 2022-2027 (million L)
• Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 (million L)
• Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 81: Chart on Middle East and Africa - Market size and forecast 2022-2027 (million L)
• Exhibit 82: Data Table on Middle East and Africa - Market size and forecast 2022-2027 (million L)
• Exhibit 83: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027
• Exhibit 85: Chart on China - Market size and forecast 2022-2027 (million L)
• Exhibit 86: Data Table on China - Market size and forecast 2022-2027 (million L)
• Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027
• Exhibit 89: Chart on US - Market size and forecast 2022-2027 (million L)
• Exhibit 90: Data Table on US - Market size and forecast 2022-2027 (million L)
• Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 93: Chart on Germany - Market size and forecast 2022-2027 (million L)
• Exhibit 94: Data Table on Germany - Market size and forecast 2022-2027 (million L)
• Exhibit 95: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027
• Exhibit 97: Chart on Japan - Market size and forecast 2022-2027 (million L)
• Exhibit 98: Data Table on Japan - Market size and forecast 2022-2027 (million L)
• Exhibit 99: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 India - Market size and forecast 2022-2027
• Exhibit 101: Chart on India - Market size and forecast 2022-2027 (million L)
• Exhibit 102: Data Table on India - Market size and forecast 2022-2027 (million L)
• Exhibit 103: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 105: Market opportunity by geography (million L)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 108: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 109: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 110: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 111: Matrix on vendor position and classification

• 12.3 AMSOIL Inc. 
• Exhibit 112: AMSOIL Inc. - Overview
• Exhibit 113: AMSOIL Inc. - Product / Service
• Exhibit 114: AMSOIL Inc. - Key offerings

• 12.4 BP Plc 
• Exhibit 115: BP Plc - Overview
• Exhibit 116: BP Plc - Business segments
• Exhibit 117: BP Plc - Key offerings
• Exhibit 118: BP Plc - Segment focus

• 12.5 Chevron Corp. 
• Exhibit 119: Chevron Corp. - Overview
• Exhibit 120: Chevron Corp. - Business segments
• Exhibit 121: Chevron Corp. - Key news
• Exhibit 122: Chevron Corp. - Key offerings
• Exhibit 123: Chevron Corp. - Segment focus

• 12.6 China Petrochemical Corp. 
• Exhibit 124: China Petrochemical Corp. - Overview
• Exhibit 125: China Petrochemical Corp. - Business segments
• Exhibit 126: China Petrochemical Corp. - Key offerings
• Exhibit 127: China Petrochemical Corp. - Segment focus

• 12.7 Eni Spa 
• Exhibit 128: Eni Spa - Overview
• Exhibit 129: Eni Spa - Business segments
• Exhibit 130: Eni Spa - Key offerings
• Exhibit 131: Eni Spa - Segment focus

• 12.8 Exxon Mobil Corp. 
• Exhibit 132: Exxon Mobil Corp. - Overview
• Exhibit 133: Exxon Mobil Corp. - Business segments
• Exhibit 134: Exxon Mobil Corp. - Key offerings
• Exhibit 135: Exxon Mobil Corp. - Segment focus

• 12.9 FUCHS PETROLUB SE 
• Exhibit 136: FUCHS PETROLUB SE - Overview
• Exhibit 137: FUCHS PETROLUB SE - Business segments
• Exhibit 138: FUCHS PETROLUB SE - Key news
• Exhibit 139: FUCHS PETROLUB SE - Key offerings
• Exhibit 140: FUCHS PETROLUB SE - Segment focus

• 12.10 Gazpromneft Lubricants Ltd. 
• Exhibit 141: Gazpromneft Lubricants Ltd. - Overview
• Exhibit 142: Gazpromneft Lubricants Ltd. - Product / Service
• Exhibit 143: Gazpromneft Lubricants Ltd. - Key offerings

• 12.11 GS Global Corp. 
• Exhibit 144: GS Global Corp. - Overview
• Exhibit 145: GS Global Corp. - Product / Service
• Exhibit 146: GS Global Corp. - Key offerings

• 12.12 MOTUL SA 
• Exhibit 147: MOTUL SA - Overview
• Exhibit 148: MOTUL SA - Product / Service
• Exhibit 149: MOTUL SA - Key offerings

• 12.13 Petroliam Nasional Berhad 
• Exhibit 150: Petroliam Nasional Berhad - Overview
• Exhibit 151: Petroliam Nasional Berhad - Business segments
• Exhibit 152: Petroliam Nasional Berhad - Key news
• Exhibit 153: Petroliam Nasional Berhad - Key offerings
• Exhibit 154: Petroliam Nasional Berhad - Segment focus

• 12.14 PJSC LUKOIL 
• Exhibit 155: PJSC LUKOIL - Overview
• Exhibit 156: PJSC LUKOIL - Business segments
• Exhibit 157: PJSC LUKOIL - Key news
• Exhibit 158: PJSC LUKOIL - Key offerings
• Exhibit 159: PJSC LUKOIL - Segment focus

• 12.15 Repsol SA 
• Exhibit 160: Repsol SA - Overview
• Exhibit 161: Repsol SA - Product / Service
• Exhibit 162: Repsol SA - Key offerings

• 12.16 Shell plc 
• Exhibit 163: Shell plc - Overview
• Exhibit 164: Shell plc - Business segments
• Exhibit 165: Shell plc - Key news
• Exhibit 166: Shell plc - Key offerings
• Exhibit 167: Shell plc - Segment focus

• 12.17 Valvoline Inc. 
• Exhibit 168: Valvoline Inc. - Overview
• Exhibit 169: Valvoline Inc. - Business segments
• Exhibit 170: Valvoline Inc. - Key offerings
• Exhibit 171: Valvoline Inc. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 172: Inclusions checklist
• Exhibit 173: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 174: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 175: Research methodology
• Exhibit 176: Validation techniques employed for market sizing
• Exhibit 177: Information sources

• 13.5 List of abbreviations 
• Exhibit 178: List of abbreviations

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