Automotive Oil Market

The global Automotive Oil market was valued at USD 37.58 Billion in 2020 and is projected to reach USD 53.48 Billion by 2028, growing at a CAGR of 4.51%% from 2021 to 2028.

Automotive oil is a lubricant used in internal combustion engines, which power cars, motorcycles, lawnmowers, engine-generators, and many other machines. In engines, there are parts which move against each other and the friction between the parts wastes otherwise useful power by converting kinetic energy into heat. It also wears away those parts, which could lead to lower efficiency and degradation of the engine. Proper lubrication decreases fuel consumption, decreases wasted power, and increases engine longevity. Lubricating oil creates a separating film between surfaces of adjacent moving parts to minimize direct contact between them, decreasing frictional heat and reducing wear, thus protecting the engine.

This report provides an analysis of the Automotive Oil market for the historic period of 2016–2019 and forecasts for 2021–2028 while 2020 is considered as a base year for estimations. The report includes exhaustive analysis of segments, regions and countries comprising of market size and estimations in terms of revenue for the years 2016–2028. There regional section of the report is bifurcated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Moreover, the report also covers exhaustive information on growth factors/drivers, restraints, opportunities, regulatory landscape and technology roadmap among others. Moreover, the report also includes exhaustive SWOT analysis, PEST analysis, value chain analysis, and Porter’s five forces analysis on Automotive Oil market. This data is likely to help the industry stakeholders and stimulate the decision-making process.

The COVID-19 outbreak has affected various industries worldwide. The Automotive Oil market is no exception. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop swift spread of COVID-19. These actions led to severe impact on the global economy. Industrialist across the globe were forced to halt their production, leading to supply chain disruptions and impairing of various industries. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long-term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

The rising demand for high mileage vehicles for better performance of the vehicle is anticipated to augment the growth of the automotive oil market during the forecast period. For high mileage vehicles, high mileage oil is infused with a unique blend of conditioning agents and additives that regular oil doesn’t have. The agents and additives help in slow leaks by conditioning engine seals that may have degraded over time, break up and dissolve sludge left behind by other oils, reduce oil loss caused by burn-off Improve your fuel efficiency and reduce general wear and tear on older engines. Hence, these factors are driving the demand for the automotive oil market in the years to come. 

The increasing demand from emerging economies is expected to fuel the growth of the automotive oil market in the years to come. This is attributable to the presence highest number of vehicles present in developing economies especially in countries like China, India, and Thailand. Moreover, India and China are expected to have the highest number of vehicles on road and also India has the largest market for two-wheelers, which shall further drive the growth of the automotive oil market. 

The instability in prices of raw material is projected to hinder the growth of the automotive oil market during the forecast period. This is owing to the over usage or product shortage, currency fluctuation, continuous emphasis on energy efficient products, and environmental regulations. Increase in the number of competitors has raised sustainability issues for companies to strive in the high risk and high return in business. The cost of production is high, as it involves complex processes to drive out finished products. These factors restrain the global automotive oil market.

The report delivers an acute breakdown of the market based on various segments such as Grade, Engine Type, Application, and region. The report includes market size and forecast for each segment by region/country for the years 2016–2028. Moreover, it also covers a thorough analysis of growth factors and opportunities impacting segmental growth.

On the basis of Grade, the market is divided into Mineral, Semi-synthetic, Fully-synthetic. Semi-synthetic dominated the global Automotive Oil market in 2020 and is projected to witness the same trend during the forecast period.

Based on Engine Type, the market is segmented into Gasoline, Diesel, Alternative Fuel. Diesel accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028. 

Based on the geography, the global Automotive Oil market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. Moreover, the regional sections if further bifurcated into key country level markets for better understanding of the market.

The report covers detailed analysis on drivers, business opportunities, regulatory norms, supplier concertation and such other factors impacting regional growth. Moreover, it also covers market estimations and forecast for each segment for each region for the years 2016–2028. 

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

The global Automotive Oil market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Automotive Oil market are ExxonMobil, Conoil Plc, Shell, Forte Oil PLC, Total, Oando Plc, Chevron, Castrol, Engen..  This section of the report provides in depth analysis on key market players based on various parameters such as business overview, portfolio analysis, business strategies, financial performance, geographical presence, and recent developments among others. It will also include information on key strategies adopted by major market players. 

• The global Automotive Oil market was valued at USD 37.58 Billion in 2020
• The global Automotive Oil Market is projected to reach USD 53.48 Billion by 2028
• Asia Pacific held the highest share of the Automotive Oil market in 2020
• Some of the major companies operating in the Automotive Oil market are ExxonMobil, Conoil Plc, Shell, Forte Oil PLC, Total, Oando Plc, Chevron, Castrol, Engen.