Automotive Motor Oil Market Research Report - Global Forecast till 2027

Automotive Motor Oil Market Research Report: Information by Type (Conventional, Synthetic Blend, Full Synthetic, High-Mileage), Sales Channel (Quick Lube, Independent Workshop, Maintenance/Repair Shop, FWS/OEM dealership, Service Station, Truck Stop), Vehicle Type (Passenger Car (PCMO), Heavy-Duty Commercial Vehicle (HDMO)) - Forecast till 2027

ID: MRFR/IA - E/7203-CR | February 2020 | Region: Global | 136 pages

Automotive Motor Oil Market Overview


Automotive Motor Oil Market in terms of value is estimated to register a 3.80% CAGR during the forecast period.


The global market for automotive motor oil is expected to witness rapid growth during the forecast period. The market in Europe/AME is estimated to dominate the market. The existing infrastructure and major players in this region provide the market in Europe/AME with opportunities for growth in the forecast period. Europe strategically aims to achieve a 20% reduction of emission by 2020. Considering the growing transport sector in Europe, the government agreed to target an emission reduction and set a sustainability-criteria to control fuel emission. The European Union has set several standards for CO2 (carbon dioxide) and CO (carbon monoxide) emissions, which boost the demand for automotive motor oil. Also, manufacturers strategically make investments in the development of automotive motor oil to meet the standard specification regarding emissions. Moreover, the presence of major automotive companies, stringent government norms regarding emission control, and increased investment in the development of automotive motor oil help the regions of Europe/AME boost their revenue.


Key Competitors

The Key Players of the Global Automotive Motor Oil Market are Exxon Mobil Corporation (US), Royal Dutch Shell PLC(Netherlands), Infineum International Limited (UK), Valvoline Inc. (US), Gulf Oil Lubricants India Limited(India), The Lubrizol Corporation (US), Chevron Corporation(US), BP PLC (UK), Total(France), China Petroleum & Chemical Corporation(China), Petro‐Canada Lubricants Inc. (Canada), GP Petroleums Ltd (India), Caltex Australia (Australia), Petromin Corporation (Saudi Arabia), China National Petroleum Corporation (China).


Segmentation

The Global Market for Automotive Motor Oil is segmented based on Type, Sales Channel, and Vehicle Type. By type, the global market is segmented into the conventional, synthetic blend, full synthetic, and high mileage. The synthetic blend segment held the largest market share in 2018. The synthetic blend is also called semi-synthetic oil, which is manufactured from conventional and synthetic oil. This oil is manufactured to derive the benefits of both synthetic and conventional oil while reducing their drawbacks. The synthetic blend provides much better protection and performance.


By sales channel, the global market is segmented as Quick Lube, Independent Workshop, Maintenance/Repair Shop, FWS/OEM dealership Service Station, Truck Stop. The Quick Lube segment held the largest market share in 2018. The quick lube service center provides quick, easy, and trusted services to customers to maintain their vehicles. The quick lube service center is primarily focused on the optimization of service quality, employee training and linking the manufacturers, dealers, and repair shops with each other.


By vehicle type, the global market is segmented into Passenger Car (PCMO), and Heavy-Duty Commercial Vehicle (HDMO). The Passenger Car (PCMO) segment held the largest market share in 2018. The sale of passenger cars is rapidly increasing. The increase in demand for passenger cars is primarily driven by the emerging-middle and upper-middle-income groups. The growth in the economy of developing regions, the expected global increase in spending capacity all over the world, and the focus on reducing fuel consumption, vehicular pollution, and overall vehicle maintenance and operating cost are expected to raise the demand for automotive motor oil.


Regional Analysis

By region, the Global Automotive Motor Oil Market is segmented into Europe, Americas, Greater China and Asia-Pacific.


Global Automotive Motor Oil Market, by Region, 2018

 Automotive Motor Oil Market


Source: MRFR Analysis


Greater China is expected to witness an excellent growth in the automotive motor oil market. Increasing demand for passenger cars and commercial vehicles, owing to the rapid industrialization in the country helps achieve the growth of the market in the region. The automotive sector, including the oil industry, is projected to grow rapidly under the government’s latest economic development plans, which demand attention to the latest emission standards. In the past years, there has been a massive increase in the use of passenger cars and commercial vehicles in China, which lead to the government's concerns to control vehicle emission. The Chinese government has set C5 level emission standards, which increase the opportunities for manufacturers to develop automotive motor oil and various emission technologies to comply with the standards. Also, the government has introduced many policies for the benefits of the automobile and automotive motor oil manufacturers, which include rules related to the import restraints, export requirements, and subsidies. The automotive industry continues to grow in China due to the increased production of passenger and commercial vehicles along with hybrid vehicles. The increase in the production of automobiles is leading to the growth of automotive motor oil. Such factors are expected to drive the growth of the market in Greater China during the forecast period. It is estimated that China registered a CAGR of 7.3%, during the forecast period.


Synopsis

In 2018, the Americas held the second-largest share of the global automotive motor oil market. The scope of the automotive motor oil is expected to grow in the Americas with an increase in demand for automobiles, primarily in the US. The region has substantial growth and is expected to exhibit consistent growth during the forecast period. Such countries have a comparatively greater number of premium and luxury passenger cars, which increases the demand for automotive motor oil. The growing number of automotive repair shops and service stations leads to an increase in demand for fuel-efficient vehicles, and the growing consumer awareness regarding oil change is expected to increase the demand for automotive motor oil. The Petroleum Quality Institute of America is working with automotive motor oil manufacturers for the development, quality, and integrity of lubricants and working to reduce the cost of manufacturing advanced lubricants such as synthetic blend for automotive applications.


The Global Market for Automotive Motor Oil has been segmented on the basis of Type, Sales Channel, Vehicle Type, and Region. On the basis of type, the global automotive motor oil market is segmented into the conventional, synthetic blend, full synthetic, and high-mileage. The synthetic blend is also called semi-synthetic oil, which is manufactured from conventional and synthetic oil. This oil is manufactured to derive the benefits of both synthetic and conventional oil while reducing their drawbacks. The synthetic blend provides much better protection and performance.


Market Segmentation

  • By TypeConventional, Synthetic Blend, Full Synthetic, High-Mileage



  • By Sales Channel – Quick Lube, Independent Workshop, Maintenance/Repair Shop, FWS/OEM dealership, Service Station, Truck Stop



  • By Vehicle Type – Passenger Car (PCMO), Heavy-Duty Commercial Vehicle (HDMO)


Key Questions Addressed by the Report

  • What was the historic market size (2018)?

  • Which segmentation (Type/Sales Channel/Vehicle Type) is driving market?

  • What will be the growth rate by 2026?

  • How are the key players in this market?

  • What are the strategies adopted by key players?



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: Significant Value
  CAGR   3.80% CAGR (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Sales Channel, Vehicle Type
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Exxon Mobil Corporation (US), Royal Dutch Shell PLC(Netherlands), Infineum International Limited (UK), Valvoline Inc. (US), Gulf Oil Lubricants India Limited(India), The Lubrizol Corporation (US), Chevron Corporation(US), BP PLC (UK), Total(France), China Petroleum & Chemical Corporation(China), Petro‐Canada Lubricants Inc. (Canada), GP Petroleums Ltd (India), Caltex Australia (Australia), Petromin Corporation (Saudi Arabia), China National Petroleum Corporation (China)
  Key Market Opportunities   presence of major automotive companies
  Key Market Drivers

  • standards for CO2 and CO emissions\r\n
  • stringent government norms regarding emission control
  • increased investment in the development of automotive motor


  • Frequently Asked Questions (FAQ) :


    The growth rate that the market can attain the near future is 3.80%.

    The market value can be USD 28.30 million metric tons by the year 2026.

    The significant players in the global market are Valvoline Inc. (US), Infineum International Limited (UK), China Petroleum & Chemical Corporation(China), China National Petroleum Corporation (China), Chevron Corporation(US), BP PLC (UK), Total(France), The Lubrizol Corporation (US), Exxon Mobil Corporation (US), Royal Dutch Shell PLC(Netherlands), GP Petroleums Ltd (India), Petromin Corporation (Saudi Arabia), Petro‐Canada Lubricants Inc. (Canada), Gulf Oil Lubricants India Limited(India), Caltex Australia (Australia), and others.

    The types of automotive motor oil considered in the report include Synthetic Blend, Conventional, High-Mileage, Full Synthetic, and others.

    The China market can expand at a rate of 7.3% in the coming years.

    Passenger Car (PCMO) accounted for the largest share in the global market in 2018, among all the vehicle types.

    The manufacturers are making heavy investments in the advancements of automotive motor oil, in an attempt to cater to the standard specification regarding emissions.