Global Engine Oil Market by Type (Passenger car engine oils, Heavy Duty engine oils, Motorcycle oils, Green Oils), By Application (Passenger Car, Commercial Vehicle, Motorcycle) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
The Global Engine Oil Market size is projected to grow at a CAGR of 3.4% by 2028 and reach $95.2 billion in value terms. The passenger car engine oils segment is expected to account for the largest share of this market with over 50% share by 2028 due to its increasing demand across the globe as well as its high usage rate relative to other segments such as heavy-duty engines and motorcycles.
The primary function of engine oil is to reduce friction and heat between moving parts within an internal combustion engine. Engine oils also provide some level of protection for those parts from corrosion, especially if the vehicle operates in extreme environments such as on a farm or off-road. The type of engine oil varies depending on whether it is intended primarily for gasoline engines (petroleum base) or diesel engines (detergent/dispersant additive). Oil may be either "fully" synthetic, semi-synthetic, petroleum-based mineral oil with detergents and antifoams added.
On the basis of Type, the market is segmented into Passenger Car Engine Oils, Heavy Duty Engine Oil.
Passenger Car Engine Oils:
Passenger car engine oils are the most common type of engine oil used in vehicles today. They have been designed to meet all requirements when it comes to protecting against wear and ensuring a clean, smooth-running engine that is free from corrosion. Passenger Car Engine Oils come with different viscosity levels ranging from heavy-duty up to lightweight for better fuel economy which helps lower emissions as well as save on gas mileage. These types of fluids also work best at low temperatures without any additives whereas other synthetic grades require certain polymer compounds or antifoams be mixed into them before use so they run smoothly under cold conditions too.
Heavy-Duty Engine Oils:
The heavy-duty segment dominates the market for Engine Oil with a share of over 50%. This is primarily on account of their presence in commercial vehicles and heavy machinery which are heavily used globally. The Heavy Duty engines need high viscosity to maintain their function while being exposed to higher operating temperatures too. More additives like detergents or dispersants are also generally present in these types of oils as they’re designed for use during tough conditions such as when dealing with large diesel equipment packages that run hotter or colder than passenger cars per se. These products offer excellent protection against wear caused by friction between metal parts allowing them an extended period of service life.
On the basis of Application, the market is segmented as Passenger Cars, Commercial Vehicles, and Motorcycles. The commercial vehicle segment is expected to dominate the market with a share of around 39% in terms of revenue. The Passenger Car segment is expected to account for 36%. The Motorcycle segment accounted for only about 11% and hence it will be a slow-growing segment during the forecast period 2021-2028.
On basis of Region, the market is segmented as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The market in the North American region is estimated to account for the largest share of around 38% while the smallest segment will be that of Asia-Pacific with a revenue contribution of 18%.
Growth Factors For Engine Oil Market
The engine oils market is projected to witness significant growth during the forecast period owing to various factors such as a rising focus on environmental concerns, positive outlook for this industry due to improving economic conditions globally, stringent emission norms set forth by regulators across various regions in order to reduce air pollution levels. The key players within the engine oil market include Exxon Mobil Corporation (US), BP plc. (UK), Royal Dutch Shell plc., Total S.A., Chevron Corp., etc. These companies are continuously investing in new research and development activities in order to introduce enhanced lubricants that would provide better performance with reduced maintenance costs which will further propel demand over the next decade.
Up Market Research published a new report titled “Engine Oil Market research report which is segmented by Types (Passenger car engine oils, Heavy Duty engine oils, Motorcycle oils, Green Oils), By Applications (Passenger Car, Commercial Vehicle, Motorcycle), By Players/Companies Total, Royal Dutch Shell, Exxon Mobil, Bp, Fuchs Lubricants, Chevron Lubricants, China Petroleum And Chemicals, Lukoil Lubricants, Citgo Petroleum, Amsoil”.
Report Scope
Report Attributes | Report Details |
Report Title | Engine Oil Market Research Report |
By Type | Passenger car engine oils, Heavy Duty engine oils, Motorcycle oils, Green Oils |
By Application | Passenger Car, Commercial Vehicle, Motorcycle |
By Companies | Total, Royal Dutch Shell, Exxon Mobil, Bp, Fuchs Lubricants, Chevron Lubricants, China Petroleum And Chemicals, Lukoil Lubricants, Citgo Petroleum, Amsoil |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 218 |
Number of Tables & Figures | 153 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
Global Engine Oil Market Report Segments:
The market is segmented by Type Passenger car engine oils, Heavy Duty engine oils, Motorcycle oils, Green Oils and By Application Passenger Car, Commercial Vehicle, Motorcycle.
Some of the companies that are profiled in this report are:
- Total
- Royal Dutch Shell
- Exxon Mobil
- Bp
- Fuchs Lubricants
- Chevron Lubricants
- China Petroleum And Chemicals
- Lukoil Lubricants
- Citgo Petroleum
- Amsoil
Engine Oil Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Engine Oil Market
Overview of the regional outlook of the Engine Oil Market:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
Highlights of The Engine Oil Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Engine Oil Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
- By Type:
1. Passenger car engine oils
2. Heavy Duty engine oils
3. Motorcycle oils
4. Green Oils
7. By Application:1. Passenger Car
2. Commercial Vehicle
3. 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 2028.
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
Reasons to Purchase the Engine Oil Market Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
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, 2018-2028
4.5.1 Engine Oil Market Size and Y-o-Y Growth
4.5.2 Engine Oil Market Absolute $ Opportunity
Chapter 5 Global Engine Oil 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 Engine Oil Market Size Forecast by Type
5.2.1 Passenger car engine oils
5.2.2 Heavy Duty engine oils
5.2.3 Motorcycle oils
5.2.4 Green Oils
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Engine Oil 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 Engine Oil Market Size Forecast by Applications
6.2.1 Passenger Car
6.2.2 Commercial Vehicle
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 Engine Oil Analysis and Forecast
9.1 Introduction
9.2 North America Engine Oil 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 Engine Oil Market Size Forecast by Type
9.6.1 Passenger car engine oils
9.6.2 Heavy Duty engine oils
9.6.3 Motorcycle oils
9.6.4 Green Oils
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 Engine Oil Market Size Forecast by Applications
9.10.1 Passenger Car
9.10.2 Commercial Vehicle
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 Engine Oil Analysis and Forecast
10.1 Introduction
10.2 Europe Engine Oil 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 Engine Oil Market Size Forecast by Type
10.6.1 Passenger car engine oils
10.6.2 Heavy Duty engine oils
10.6.3 Motorcycle oils
10.6.4 Green Oils
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 Engine Oil Market Size Forecast by Applications
10.10.1 Passenger Car
10.10.2 Commercial Vehicle
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 Engine Oil Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Engine Oil 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 Engine Oil Market Size Forecast by Type
11.6.1 Passenger car engine oils
11.6.2 Heavy Duty engine oils
11.6.3 Motorcycle oils
11.6.4 Green Oils
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 Engine Oil Market Size Forecast by Applications
11.10.1 Passenger Car
11.10.2 Commercial Vehicle
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 Engine Oil Analysis and Forecast
12.1 Introduction
12.2 Latin America Engine Oil 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 Engine Oil Market Size Forecast by Type
12.6.1 Passenger car engine oils
12.6.2 Heavy Duty engine oils
12.6.3 Motorcycle oils
12.6.4 Green Oils
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 Engine Oil Market Size Forecast by Applications
12.10.1 Passenger Car
12.10.2 Commercial Vehicle
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) Engine Oil Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Engine Oil 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) Engine Oil Market Size Forecast by Type
13.6.1 Passenger car engine oils
13.6.2 Heavy Duty engine oils
13.6.3 Motorcycle oils
13.6.4 Green Oils
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) Engine Oil Market Size Forecast by Applications
13.10.1 Passenger Car
13.10.2 Commercial Vehicle
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 Total
14.3.2 Royal Dutch Shell
14.3.3 Exxon Mobil
14.3.4 Bp
14.3.5 Fuchs Lubricants
14.3.6 Chevron Lubricants
14.3.7 China Petroleum And Chemicals
14.3.8 Lukoil Lubricants
14.3.9 Citgo Petroleum
14.3.10 Amsoil