Global Automotive Engine Oil Market Size, Share, and COVID-19 Impact Analysis, By Product (0W-20, 0W-30, 0W-40, 5W-20, 5W-30, 5W-40, 10W-60, 10W-40, and 15W-40), By Application (Passenger Cars, Commercial Vehicles, and Motorcycles), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033.

Global Automotive Engine Oil Market Insights Forecasts to 2033

• The Global Automotive Engine Oil Market Size was estimated at USD 40.95 Billion in 2023
• The Global Automotive Engine Oil Market Size is Expected to Grow at a CAGR of around 3.67% from 2023 to 2033
• The Worldwide Automotive Engine Oil Market Size is Expected to Reach USD 58.70 Billion By 2033
• North America is Expected to Grow the fastest during the forecast period.

The Global Automotive Engine Oil Market Size is Expected to cross USD 58.70 Billion By 2033, growing at a CAGR of 3.67% from 2023 to 2033.

Market Overview  

Engine oils made especially for use in cars are produced, distributed, and sold worldwide, this industry is known as the automotive engine oil market. A wide range of automotive engine oils, including conventional, synthetic, semi-synthetic, and high-mileage lubricants, are available on the market to suit a variety of automobiles, including trucks, cars, motorbikes, and other motorized vehicles. The development, production, and marketing of engine oils for automobiles, with focus on improving vehicle performance, efficiency, and engine durability, are all included in the automotive engine oil market. The capacity of lower viscosity motor oil to increase fuel economy, OEM recommendations for these oils to optimize performance, and the conversion of factory and service fill requirements to low viscosity grade products are the main factors driving the growth of the automotive engine oil market.  Lower viscosity motor oils' capacity to improve fuel economy and OEMs' recommendations for them to optimize performance are the primary factors driving the growth of the automotive engine oil market.     

Report Coverage

This research report categorizes the automotive engine oil market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the automotive engine oil market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the automotive engine oil market.

Driving Factors

Growth in the automotive engine oil market is being driven by technological advancements like the usage of synthetic oils and longer oil drain intervals. In terms of the long-term safety performance of cars and auto parts, synthetic automotive engine oil outperforms conventional oil, which drives market expansion. Vehicle longevity is a major factor in the growth of the vehicle population, which in turn is driving up market demand for automobile engine oil. To lower emissions and increase fuel efficiency, engine and accessory hardware technologies like gasoline and turbochargers are constantly evolving, leading to a rise in demand for the automotive engine oil market.    

Restraining Factors

Price volatility, excessive use or product scarcity, currency fluctuations, the ongoing focus on energy-efficient products, and environmental laws are all major factors restricting the automotive engine oil market.     

Market Segmentation

The automotive engine oil market share is classified into product and application.      

• The 10W-60 segment held the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period.

Based on the product, the automotive engine oil market is divided into 0W-20, 0W-30, 0W-40, 5W-20, 5W-30, 5W-40, 10W-60, 10W-40, and 15W-40. Among these, the 10W-60 segment held the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. 10W-60 motor oil is produced to offer the best possible engine protection and performance under exceptionally demanding and hot conditions. The need for engine oils to enhance operating conditions is rising as modern engines advance technologically.

• The passenger cars segment held the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period.

Based on the application, the automotive engine oil market is divided into passenger cars, commercial vehicles, and motorcycles. Among these, the passenger cars segment held the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. The need for automotive engine oils is driven by increased sales of cars and passenger cars, as well as maintaining them and keeping them in better operating condition. 

Regional Segment Analysis of the Automotive Engine Oil Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the automotive engine oil market over the predicted timeframe.

Asia Pacific is anticipated to hold the largest share of the automotive engine oil market over the predicted timeframe.  The presence of significant automakers in nations like China, India, and Japan is responsible for driving the regional market growth. The strong development of new automotive engine oil formulations with improved quality performance is propelling the market. In addition, the widespread use in motorcycle, passenger, and commercial vehicle applications, is driving the Asia Pacific automotive engine oil market.  

North America is expected to grow at the fastest CAGR growth of the automotive engine oil market during the forecast period. The customers' needs for the upkeep of various vehicles and operating conditions in the region are a result of North America's market growth. Innovation and technical developments are expected to drive significant expansion in the U.S. automobile engine oil market, which is a key component of the automotive sector. 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the automotive engine oil market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Tata Motors
• BP p.l.c.
• Shell
• Repsol
• TotalEnergies
• Motul
• Suncor Energy Inc.
• PETRONAS and Sinopec
• Chevron Corporation.
• AMSOIL INC-IN.
• Petroliam Nasional Berhad
• Exxon Mobil Corporation.
• Valvoline Global Operations
• CASTROL LIMITED
• Others  

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In December 2024, the largest commercial vehicle manufacturer in India, Tata Motors, announced the launch of 5W30 synthetic engine oil, which was created especially to improve the performance of the BS6 diesel engines of the new generation. The 5W30 synthetic engine oil increases engine longevity and reduces friction between moving parts, which increases engine dependability, durability, and pollution compliance. Increased vehicle uptime on the road means more money and profits for the transporter.      
• In May 2024, PETRONAS and Sinopec launched an arrangement to investigate potential avenues for boosting innovation and growth in the energy industry. The agreement of understanding centers on LNG trading, lubricants, and sustainable development in commodities and specialty chemicals.   

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the automotive engine oil market based on the below-mentioned segments: 

Global Automotive Engine Oil Market, By Product   

• 0W-20
• 0W-30
• 0W-40
• 5W-20
• 5W-30
• 5W-40
• 10W-60
• 10W-40
• 15W-40

Global Automotive Engine Oil Market, By Application

• Passenger Cars
• Commercial Vehicles
• Motorcycles

Global Automotive Engine Oil Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa