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Automotive Motor Oil Market Research Report: Information By Type (Conventional, Synthetic Blend, Full Synthetic, and High-Mileage), By Engine Type (Diesel, Petrol, and Alternative Fuels), By Vehicle Type (Passenger Car (PCMO), and Heavy-Duty Commercial Vehicle (HDMO)) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

ID: MRFR/CnM/7203-CR | 128 Pages | Author: Snehal Singh| February 2020

Global Automotive Motor Oil Market Overview

The Automotive Motor Oil market industry is projected to grow from USD 39.55 Billion in 2024 to USD 50.93 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.21% during the forecast period (2024 - 2032). Global Automotive Motor Oil Market Size was valued at USD 38.32 Billion in 2023. Rising automotive manufacturing and the requirement for synthetic and traditional goods are the key market drivers enhancing the market growth.Automotive Motor Oil Market Overview

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Automotive Motor Oil Market Trends

Growing use in high mileage vehicle is driving the market growth

Market CAGR for automotive motor oil is being driven by the rising n high mileage vehicle. Synthetic automobile motor oil is thought to be a better alternative to mineral-based motor oils. Synthetic motor oilss are created by polymerizing short-chain hydrocarbon molecules known as alpha-olefins into poly alpha-olefins, which are long-chain hydrocarbon polymers. They are chemically identical to mineral oils refined from crude oils and, as a result, are in high demand in developed nations such as North America and Europe. The advantages of synthetic motor oils include improved fuel efficiency, lower oil use, and longer oil change intervals. Synthetic vehicle motor oils is used to replace mineral-based motor oils. Polymerization of short-chain hydrocarbon molecules known as alpha-olefins into long-chain hydrocarbon polymers known as poly alpha-olefins produces synthetic motor oils. Because they are chemically comparable to mineral oils refined from crude oils, they are in great demand in developed regions such as North America and Europe. Synthetic motor oils has the advantage of improving fuel efficiency, lowering oil use, and extending oil change intervals. Furthermore, synthetic motor oils are more temperature resistant, less volatile than mineral motor oils, and less prone to oxidize. As a result, demand for synthetic motor oil is predicted to rise throughout the projection period. When the engine is properly oiled, it performs well. It needs less effort to move the piston, allowing it to glide more freely.

Motor oils is needed for the car to consume less fuel and run at a lower temperature. Lower-viscosity motor oil is becoming more popular due to its capacity to improve fuel economy. These lubricants are recommended by OEMs to maximize performance and convert factory and service fill requirements to low-viscosity grade products. To decrease the environmental effect, environmental authorities have strict emission rules for cars. Furthermore, motor oils producers such as Shell (UK), ExxonMobil (US), and Castrol (UK) create products and manufacturing techniques that fulfill pollution laws while improving productivity and profitability. As a result, the demand for high-quality motor oilss has risen. Companies engage in research and development to create cars that cut GHG emissions, have a minimal environmental effect, and function well.

The motor oils industry must collaborate with automotive manufacturers to provide products that are suitable for each manufacturer's vehicle design while also adhering to various regulatory restrictions. Furthermore, global governments recognize the serious impact of car emissions on the environment and human health and have enacted tough vehicle emission regulations. As a result, firms such as Valvoline (US), FUCHS (Germany), and Gulf Oil (US) engage in research and development to manufacture high-quality motor oilss that fulfill emission laws. As a result, there is a huge need for high-quality motor oils. Thus, driving the Automotive Motor Oil market revenue.

Automotive Motor Oil Market Segment Insights

Automotive Motor Oil Type Insights

Based on type, the global Automotive Motor Oil market segmentation includes conventional, synthetic blend, fully synthetic, and high-mileage. The synthetic blend segment dominated the market, accounting for 45% of market revenue. This is due to various favorable properties such as greater lubrication, improved stability, smaller deposits, less deterioration, and more. It provides three times the engine protection of standard mineral oils, up to five times the cleaning qualities, and reduces engine wear and tear by nearly half compared to mineral engine oils.

Automotive Motor Oil Engine Type Insights

Based on engine type, the global Automotive Motor Oil market segmentation includes diesel, petrol, and alternative fuels. The diesel segment dominated the market. The demand for diesel engines is slightly higher than for petrol engines. Cars that operate on diesel are more expensive than cars that run on petrol, mainly because diesel is less expensive. Diesel engines are 40% more efficient than gasoline engines because diesel contains 40% more energy than gasoline. The combustion process is more efficient and produces less CO2.

Automotive Motor Oil Vehicle Type Insights

The global Automotive Motor Oil market segmentation is based on Vehicle Type, passenger car (PCMO) and heavy-duty commercial vehicle (HDMO). The passenger car (PCMO) category generated the most income (70.4%). Rapid urbanization and rising wages, particularly among the consumer class, will likely propel the passenger car industry. Furthermore, demand for SUVs has increased in recent years as leisure and tourism activities have increased internationally.

Figure 1: Global Automotive Motor Oil Market, by Vehicle Type, 2022 & 2032 (USD Billion)Global Automotive Motor Oil Market, by Vehicle Type, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Automotive Motor Oil Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Automotive Motor Oil market will dominate this market due to the region's growing demand for commercial vehicles from the e-commerce and logistics industries. Due to higher fuel economy and reduced carbon emissions, the country utilizes more diesel fuel than petrol or natural gas alternatives.

Further, the major countries studied in the market report are The US, Canada, German, France, China, Japan, the UK, Italy, Spain, India, Australia, South Korea, and Brazil.

 Figure 2: Global Automotive Motor Oil Market Share By Region 2022 (USD Billion)

Global Automotive Motor Oil Market Share By Region 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe has the second-largest market share for Automotive Motor Oil. The industrial revolution improved Europe's living level, per capita income, manufacturing breakthroughs, and acceptance of new technologies. Engine oil demand is driven by the region's world-class automotive, construction, agricultural, and transportation industries. Furthermore, the German Automotive Motor Oil market dominated, while the UK Automotive Motor Oil market grew fastest in Europe.

From 2023 to 2032, the Asia-Pacific Automotive Motor Oil Market will develop at the quickest CAGR. This is due to the product's wide customer base and expanding production and consumption in nations like China. Product developers, such as Total, are progressively investing in the future expansion of this region. Automotive multinationals operating in this region have begun to spend extensively on digitizing their production facilities to produce output more quickly. Furthermore, China's Automotive Motor Oil market had the highest market share, while India's Automotive Motor Oil market was the fastest expanding in the Asia-Pacific region.

Automotive Motor Oil Key Market Players & Competitive Insights

Leading market companies are extensively spending R&D on increasing their product lines, which will help the Automotive Motor Oil market grow even more. Important market developments include new product releases, contractual agreements, acquisitions and mergers, greater investments, and collaboration with other organizations. The Automotive Motor Oil industry must produce cost-effective merchandise to flourish and thrive in a more competitive and increasing market climate.

Manufacturing locally to reduce operating costs is an effective business strategy manufacturers use in the worldwide Automotive Motor Oil industry to serve clients and expand the market sector. The Automotive Motor Oil industry has provided some of the most important benefits recently.  Shell and other major competitors in the Automotive Motor Oil market are seeking to improve market demand by investing in R&D efforts.

Shell is a multinational energy business with around 87,000 workers in over 70 countries. They collaborate to fuel development by developing more and greener energy alternatives. They serve over 30 million consumers daily at about 46,000 retail service stations. Shell, a key component of Big Oil, is the world's second-biggest investor-owned oil and gas firm by revenue and one of the world's largest companies in any industry. In May 2022, Shell has announced the introduction of a new synthetic oil line for SUVs. The new Shell Helix Ultra SUV line is intended to provide enhanced protection for SUVs, frequently subjected to harder driving conditions.

Castrol Limited is a British oil firm that sells industrial and automotive lubricants, with a large range of oil, greases, and related products suitable for most lubrication applications. The term Castrol was initially merely a brand name for CC Wakefield's motor lubricants, but the firm later changed its name to Castrol after the product name became more well-known than the old company name. In June 2021, Castrol has teamed with Automovill, an auto care and maintenance platform, to provide engine oil delivery to your door. The collaboration will enable Castrol to reach more clients and make obtaining the engine oil they want easier.

Introducing a new line of ValvolineTM 4-stroke Full Synthetic Premium Motor Oil for marine and powersports, Valvoline worldwide, a worldwide automotive pioneer driving the future of mobility via innovative lubricant and fluid products, said today that it will be available in 2023. In contrast to automotive engines, four-stroke ATV/UTV and marine motors have distinct difficulties due to increased operating speeds, seasonal usage, and harsh operating conditions.

The new line of synthetic engine oils that comply with BS-VI, Shell Helix HX6 5W-30 and Shell Helix SUV 5W-30, was introduced in India in 2023 by Shell, a global leader in finished lubricants. They are made to provide the passenger car motor oil (PCMO) market with improved engine protection, increased fuel efficiency, and longer engine life.

Indian Oil Corporation Ltd., a public sector oil refiner and retailer, introduced its SERVO Hypersport F5 fully synthetic 4T engine oil for bikes in 2023. IndianOil offers cutting-edge, environmentally friendly solutions to its clients. Grease Miracle, a sustainable grease for heavy-duty industrial applications, and SERVO Hypersport F5 completely Synthetic 4T Engine Oil, a high-performance synthetic oil for motorbikes, are the two new items we are delighted to introduce today.

Key Companies in the Automotive Motor Oil market include

  • Valvoline

  • Wurth Group

  • Castrol

  • ExxonMobil

  • Total

  • Eni GmbH

  • Amsoil Inc

  • Petronas

  • Fuchs Petrolub

  • Shell

  • Liqui Moly

  • Chevron

  • Pennzoil

  • Lucas Oil

Automotive Motor Oil Industry Developments

May 2023: Valvoline, a prominent global lubricant manufacturer, has agreed to pay $2.5 billion for CST Brands, a convenience store and gasoline retailer. Valvoline will get access to CST Brands' network of over 1,100 convenience stores, allowing it to offer its lubricating goods to a larger audience.

June 2022: ExxonMobil intends to invest $900 million in a new lubricant manufacturing plant in India. The project, scheduled to open in 2025, would manufacture a variety of synthetic and traditional lubricants for the Indian market.

Automotive Motor Oil Market Segmentation

Automotive Motor Oil Type Outlook

  • Conventional

  • Synthetic Blend

  • Full Synthetic

  • High-Mileage

Automotive Motor Oil Engine Type Outlook

  • Diesel

  • Petrol

  • Alternative Fuels

Automotive Motor Oil Vehicle Type Outlook

  • Passenger Car (PCMO)

  • Heavy-Duty Commercial Vehicle (HDMO)

Automotive Motor Oil Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin Americav

Report Attribute/Metric Details
Market Size 2023 USD 38.32 Billion
Market Size 2024 USD 39.55 Billion
Market Size 2032 USD 50.93 Billion
Compound Annual Growth Rate (CAGR) 3.21% (2024-2032)
Base Year 2023
Market Forecast Period 2024-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Vehicle Type, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Valvoline , Wurth Group, Castrol, ExxonMobil, Total, Eni GmbH, Amsoil Inc, Petronas, Fuchs Petrolub, Shell, Liqui Moly, Chevron,Pennzoil, Lucas Oil
Key Market Opportunities Increased investment in the development of automotive motor
Key Market Dynamics Growth in the automotive industry

Frequently Asked Questions (FAQ) :

The global Automotive Motor Oil market size was valued at USD 38.32 Billion in 2023.

The global market is projected to grow at a CAGR of 3.21% during the forecast period, 2024-2032.

North America had the largest share in the global market

The key players in the market are Valvoline , Wurth Group, Castrol, ExxonMobil, Total, Eni GmbH, Amsoil Inc, Petronas.

The Synthetic Blend dominated the market in 2023.

The passenger car had the largest share in the global market.

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