psalexa

Global Automotive Engine Oil Market Size, Share, Development, Growth and Demand Forecast to 2024

  • Publishing: May 2021
  • Report Code: AT10690
  • Available Format: PDF

The global automotive engine oil market witnessed a significant growth during the past few years. The rising disposable income, government legislations for automotive engine oil, growing automotive aftermarket and increase in demand within automotive market are driving the growth of the automotive engine oil market. The growing vehicle sales and its production in developing countries is an opportunity in the market. The major factors restraining the growth of the market include volatile price of raw materials and growth in electric vehicles market. On the basis of technology, the automotive engine oil market has been broadly classified as premium conventional engine oil, full synthetic engine oil, synthetic blend engine oil and higher mileage engine oil.

Engine oils are oils that consist of mineral and have synthetic base oil including various additives. The quality of engine oil depends on the base oil and its properties, as well as on the additives. The main requirements for automotive engine oil are protection against wear and corrosion, keeping the engine clean and yield strength under compression. Automotive engine oil is available in different SAE grades to suit the climate, where it is used and the purpose of its usage. The function of automotive engine oil is to reduce friction between metal surfaces in contact with each other and  prevent from any damage caused by wear and tear of the metal surface.

Friction is the major source of heat in automotive engines, which results into wear and tear of the surface and cause damage to it. The automotive engine oil forms an oil film, which provides the metal surface smooth movement and it also minimizes the friction between them. The oil also helps in preventing the engine from rust and small particles like dust and other particles, which may be present in the fuel. The oil also seals the gap between the pistons and the cylinder walls, which result in more efficient fuel combustion. Automotive engine oil when used for longer duration, its viscosity index drops. Therefore, to sustain the lubricating film between the engine parts, it is important to protect viscosity loss. The additives including dispersants, friction modifiers, anti-wear agents, antioxidants and pour-point depressants are mixed in engine oil to improve its viscosity index for longer usage time period.

The global automotive engine oil market is estimated to grow during the forecast period at a high growth rate. In 2015, North America was the largest market for automotive engine oil due to the presence of large number of motor vehicle in this region. It is followed by Europe and Asia-Pacific. The market is witnessing an escalating growth in Asia Pacific region. China, in recent years, has become the global hub for the automobile industry, due to increase in vehicle population because of growing industrialization and commercialization across China. The Chinese government has taken certain measures to curb emissions, such as increasing the number of electric and hybrid vehicles. These vehicles need more maintenance and synthetic engine oil and hence these hybrid and electric vehicles are further expected to boost the automotive engine oil market in the country. Other region in Asia Pacific, such as India, Malaysia and Philippines are also having a steady growth in the market.

Some of the major players operating in the global automotive engine oil market include Total S.A, LUKOIL oil company, Royal Dutch Shell plc., Exxon Mobil Corporation, BP plc., FUCHS Lubricants, Chevron Corporation, Sinopec Lubricant Company, JIANGSU LOPAL TECH. Co. Ltd., and PetroChina Company.

Global Automotive Engine Oil Market Segmentation
By Application

  • Engine coolant
  • Engine lubricant

By Vehicle Type

  • Passenger Car
  • Light commercial vehicle
  • Heavy commercial Vehicle
  • Other automotive

By Technology

  • Premium conventional engine oil
  • Full synthetic engine oil
  • Synthetic blend engine oil
  • Higher mileage engine oil

By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • U.K.
    • Italy
    • Spain
    • Germany
    • France
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • Rest of Asia Pacific
  • Rest of World (RoW)
    • South Africa
    • Rest of RoW
Place An Order
USD 4900 USD 6400 USD 8400
Customized Report Solution

Get a bespoke market intelligence solution

 
We are committed to ensuring the highest level of client satisfaction
Quality Acknowledgement
Quality Acknowledgement

Our dedication to providing the most-accurate market information has earned us verification by Dun & Bradstreet (D&B). We strive for quality checking of the highest level to enable data-driven decision making for you

Unmatched Standards
Unmatched Standards

Our insights into the minutest levels of the markets, including the latest trends and competitive landscape, give you all the answers you need to take your business to new heights

Reach Us
Reach Us Whenever You Need Us

With 24/7 research support, we ensure that the wheels of your business never stop turning. Don’t let time stand in your way. Get all your queries answered with a simple phone call or email, as and when required

Data Security
Complete Data Security

We take a cautious approach to protecting your personal and confidential information. Trust is the strongest bond that connects us and our clients, and trust we build by complying with all international and domestic data protection and privacy laws