Engine Oil Trends and Forecast
The future of the global engine oil market looks promising with opportunities in the passenger car, light commercial vehicle, heavy commercial vehicle, and two wheeler markets. The global engine oil market is expected to reach an estimated $48.3 billion by 2030 with a CAGR of 2.6% from 2024 to 2030. The major drivers for this market are rise in vehicle sales in developing nations, increasing interest in high-mileage automobiles, and growing development to create high-performance lubricants.Engine Oil by Segment
The study includes a forecast for the global engine oil by grade, engine type, vehicle type, sales channel, and region.Engine Oil Market by Grade [Shipment Analysis by Value from 2018 to 2030]:
- Mineral
- Semi-Synthetic
- Fully-Synthetic
Engine Oil Market by Engine Type [Shipment Analysis by Value from 2018 to 2030]:
- Gasoline
- Diesel
Engine Oil Market by Vehicle Type [Shipment Analysis by Value from 2018 to 2030]:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Two Wheelers
Engine Oil Market by Sales Channel [Shipment Analysis by Value from 2018 to 2030]:
- Original Equipment Manufacturers
- Aftermarket
Engine Oil Market by Region [Shipment Analysis by Value from 2018 to 2030]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of Engine Oil Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies engine oil companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base.Some of the engine oil companies profiled in this report include:
- BP
- Saudi Arabian Oil
- Vip Oil Products
- Shell
- Ashland
- Adolf Würth
- Jiangsu Lopal Tech.
- GS Caltex India
- Chevron Corporation
- Castrol Limited
Engine Oil Market Insights
The publisher forecasts that fully-synthetic is expected to witness the highest growth over the forecast period due to its advantages like improved stability, decreased deterioration, and decreased deposits.Within this market, heavy commercial vehicle is expected to witness the highest growth over the forecast period.
APAC is expected to witness the highest growth over the forecast period.
Features of the Global Engine Oil Market
- Market Size Estimates: Engine oil market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
- Segmentation Analysis: Engine oil market size by various segments, such as by grade, engine type, vehicle type, sales channel, and region in terms of value ($B).
- Regional Analysis: Engine oil market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different grades, engine types, vehicle types, sales channels, and regions for the engine oil market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the engine oil market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the engine oil market size?Answer: The global engine oil market is expected to reach an estimated $48.3 billion by 2030.
Q2. What is the growth forecast for engine oil market?
Answer: The global engine oil market is expected to grow with a CAGR of 2.6% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the engine oil market?
Answer: The major drivers for this market are rise in vehicle sales in developing nations, increasing interest in high-mileage automobiles, and growing development to create high-performance lubricants.
Q4. What are the major segments for engine oil market?
Answer: The future of the engine oil market looks promising with opportunities in the passenger car, light commercial vehicle, heavy commercial vehicle, and two wheeler markets.
Q5. Who are the key engine oil market companies?
Answer: Some of the key engine oil companies are as follows:
- BP
- Saudi Arabian Oil
- Vip Oil Products
- Shell
- Ashland
- Adolf Würth
- Jiangsu Lopal Tech.
- GS Caltex India
- Chevron Corporation
- Castrol Limited
Answer: The publisher forecasts that fully-synthetic is expected to witness the highest growth over the forecast period due to its advantages like improved stability, decreased deterioration, and decreased deposits.
Q7. In engine oil market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q.8 Do we receive customization in this report?
Answer: Yes, the publisher provides 10% customization without any additional cost.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the engine oil market by grade (mineral, semi-synthetic, and fully-synthetic), engine type (gasoline and diesel), vehicle type (passenger cars, light commercial vehicles, heavy commercial vehicles, and two wheelers), sales channel (original equipment manufacturers and aftermarket), and region (North America, Europe, Asia Pacific, and the Rest of the World)?Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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Table of Contents
1. Executive Summary
2. Global Engine Oil Market : Market Dynamics
3. Market Trends and Forecast Analysis from 2018 to 2030
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading Players
Companies Mentioned
- BP
- Saudi Arabian Oil
- Vip Oil Products
- Shell
- Ashland
- Adolf Würth
- Jiangsu Lopal Tech.
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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