Asia-pacific Automotive Engine Oils Market - Size, Share, Forecast & Covid-19 Impact (2022 - 2027)

The Asia-pacific Automotive Engine Oils Market is segmented by Vehicle Type ( Commercial Vehicles, Motorcycles, Passenger Vehicles ) , by Product Grade ( 0W-XX ) and by Country ( China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Thailand, Vietnam )

INSTANT ACCESS

Market Snapshot

https://s3.mordorlabs.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period: 2015 - 2026
https://s3.mordorlabs.com/base%20year/1629296433432_test~base_year_base_year.svg Base Year: 2021
https://s3.mordorlabs.com/passenger_vehicles/1629285650768_test~passenger_vehicles_passenger_vehicles.svg Largest Share by Vehicle Type: Passenger Vehicles
https://s3.mordorlabs.com/globe/1629285706162_test~globe_globe.svg Largest Share by Country: China
https://s3.mordorlabs.com/cagr/1629296433433_test~cagr_cagr.svg CAGR: 5.32 %

Key Players

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Market Overview

The Asia-pacific Automotive Engine Oils Market stood at 6.08 billion liters in 2020 and is projected to register a CAGR of 5.32% to reach 8.30 billion liters in 2026.

  • Largest Segment by Vehicle Type - Passenger Vehicles : The large population of passenger cars, high travel rates, and short service frequencies are the factors driving the engine oil consumption in the passenger vehicle segment.
  • Fastest Segment by Vehicle Type - Motorcycles : Increasing servicing frequencies and the growing motorcycle population in India and ASEAN countries are driving engine oil consumption in this sector at a high rate.
  • Largest Country Market - China : The high lubricant consumption in China can be attributed to the vehicle fleet in the country and the growing average age of the vehicles that need high lubricant usage.
  • Fastest Growing Country Market - India : The gradual recovery in the average travel rate and the rise in sales of vehicles in 2021 are expected to boost the demand for engine oils in India in the coming years.

Scope of the Report

By Vehicle Type
Commercial Vehicles
Motorcycles
Passenger Vehicles
By Product Grade
0W-XX
By Country
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Thailand
Vietnam
Rest of Asia-Pacific

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Key Market Trends

Largest Segment By Vehicle Type : Passenger Vehicles

Largest Country : China

  • During 2015-2019, automotive engine oil consumption in Asia-Pacific increased by a share of around 14%. During this period, China was the leading consumer of automotive engine oils in the region, accounting for around 46% of the total engine oil consumption of the region in 2020.
  • The travel restrictions imposed after the COVID-19 outbreak restricted engine oil consumption across Asia-Pacific in 2020. Singapore was the most affected country, as it recorded a 17.38% drop in consumption during 2019-2020, followed by India, which recorded a 16.2% drop.
  • During 2021-2026, India is likely to become the fastest-growing engine oil market, as the consumption is likely to record a CAGR of 6.39%, followed by Indonesia and China, which are estimated to record a CAGR of 5.05% and 5.04%, respectively.

Competitive Landscape

The Asia-pacific Automotive Engine Oils Market is moderately consolidated, with the top five companies occupying 49.66%. The major players in this market are BP Plc (Castrol), China National Petroleum Corporation, China Petroleum & Chemical Corporation, ExxonMobil Corporation and Royal Dutch Shell Plc (sorted alphabetically).

Recent Developments

    Table of Contents

    1. 1. Executive Summary & Key Findings

    2. 2. Introduction

      1. 2.1 Study Assumptions & Market Definition

      2. 2.2 Scope of the Study​

      3. 2.3 Research Methodology

    3. 3. Key Industry Trends

      1. 3.1 Automotive Industry Trends

      2. 3.2 Regulatory Framework

      3. 3.3 Value Chain & Distribution Channel Analysis

    4. 4. Market Segmentation

      1. 4.1 By Vehicle Type

        1. 4.1.1 Commercial Vehicles

        2. 4.1.2 Motorcycles

        3. 4.1.3 Passenger Vehicles

      2. 4.2 By Product Grade

        1. 4.2.1 0W-XX

      3. 4.3 By Country

        1. 4.3.1 China

        2. 4.3.2 India

        3. 4.3.3 Indonesia

        4. 4.3.4 Japan

        5. 4.3.5 Malaysia

        6. 4.3.6 Philippines

        7. 4.3.7 Singapore

        8. 4.3.8 South Korea

        9. 4.3.9 Thailand

        10. 4.3.10 Vietnam

        11. 4.3.11 Rest of Asia-Pacific

    5. 5. Competitive Landscape

      1. 5.1 Key Strategic Moves

      2. 5.2 Market Share Analysis

      3. 5.3 Company Profiles

        1. 5.3.1 BP Plc (Castrol)

        2. 5.3.2 Chevron Corporation

        3. 5.3.3 China National Petroleum Corporation

        4. 5.3.4 China Petroleum & Chemical Corporation

        5. 5.3.5 ExxonMobil Corporation

        6. 5.3.6 Indian Oil Corporation Limited

        7. 5.3.7 Motul

        8. 5.3.8 PT Pertamina

        9. 5.3.9 Royal Dutch Shell Plc

        10. 5.3.10 TotalEnergies

    6. 6. Appendix

      1. 6.1 Appendix-1 References

      2. 6.2 Appendix-2 List of Tables & Figures

    7. 7. Key Strategic Questions for Lubricants CEOs

    List of Tables & Figures

      Figure 1:  

      VEHICLE POPULATION, NUMBER OF UNITS, ASIA-PACIFIC, 2015 - 2026

      Figure 2:  

      COMMERCIAL VEHICLES POPULATION, NUMBER OF UNITS, ASIA-PACIFIC, 2015 - 2026

      Figure 3:  

      MOTORCYCLES POPULATION, NUMBER OF UNITS, ASIA-PACIFIC, 2015 - 2026

      Figure 4:  

      PASSENGER VEHICLES POPULATION, NUMBER OF UNITS, ASIA-PACIFIC, 2015 - 2026

      Figure 5:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, VOLUME SHARE (%), BY PRODUCT GRADE, 2020

      Figure 6:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, BY VEHICLE TYPE, 2015-2026

      Figure 7:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

      Figure 8:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, COMMERCIAL VEHICLES, 2015-2026

      Figure 9:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, COMMERCIAL VEHICLES, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 10:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, MOTORCYCLES, 2015-2026

      Figure 11:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, MOTORCYCLES, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 12:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, PASSENGER VEHICLES, 2015-2026

      Figure 13:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, PASSENGER VEHICLES, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 14:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, BY COUNTRY, 2015-2026

      Figure 15:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, VOLUME SHARE (%), BY COUNTRY, 2020

      Figure 16:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, CHINA, 2015-2026

      Figure 17:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, CHINA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 18:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, INDIA, 2015-2026

      Figure 19:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, INDIA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 20:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, INDONESIA, 2015-2026

      Figure 21:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, INDONESIA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 22:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, JAPAN, 2015-2026

      Figure 23:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, JAPAN, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 24:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, MALAYSIA, 2015-2026

      Figure 25:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, MALAYSIA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 26:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, PHILIPPINES, 2015-2026

      Figure 27:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, PHILIPPINES, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 28:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, SINGAPORE, 2015-2026

      Figure 29:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, SINGAPORE, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 30:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, SOUTH KOREA, 2015-2026

      Figure 31:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, SOUTH KOREA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 32:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, THAILAND, 2015-2026

      Figure 33:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, THAILAND, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 34:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, VIETNAM, 2015-2026

      Figure 35:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, VIETNAM, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 36:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, REST OF ASIA-PACIFIC, 2015-2026

      Figure 37:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, REST OF ASIA-PACIFIC, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 38:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021

      Figure 39:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021

      Figure 40:  

      ASIA-PACIFIC AUTOMOTIVE ENGINE OILS MARKET SHARE(%), BY MAJOR PLAYERS, 2020

    Market Definition

    • Vehicle Types - Passenger Vehicles, Commercial Vehicles and Motorcycles are the vehicle types considered under the automotive lubricants market.
    • Product Types - For the purpose of this study, lubricant products such as engine oils, transmission oils, greases and hydraulic fluids are taken into consideration.
    • Service Refill - Service refill is the primary factor considered while accounting the lubricant consumption for each of the vehicle segments, under the study.
    • Factory Fill - First lubricant fill-ups for newly produced vehicles are considered.

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    Research Methodology

    Mordor Intelligence follows a four-step methodology in all our reports.

    • Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
    • Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
    • Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
    • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms

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    Frequently Asked Questions

    The Asia-pacific Automotive Engine Oils Market market is studied from 2015 - 2026.

    The Asia-pacific Automotive Engine Oils Market stood at 6.08 billion liters in 2020 and is projected to register a CAGR of 5.32% to reach 8.30 billion liters in 2026.

    The large population of passenger cars, high travel rates, and short service frequencies are the factors driving the engine oil consumption in the passenger vehicle segment.

    Increasing servicing frequencies and the growing motorcycle population in India and ASEAN countries are driving engine oil consumption in this sector at a high rate.

    The high lubricant consumption in China can be attributed to the vehicle fleet in the country and the growing average age of the vehicles that need high lubricant usage.

    The gradual recovery in the average travel rate and the rise in sales of vehicles in 2021 are expected to boost the demand for engine oils in India in the coming years.

    BP Plc (Castrol),China National Petroleum Corporation,China Petroleum & Chemical Corporation,ExxonMobil Corporation and Royal Dutch Shell Plc. are the major companies operating in Asia-pacific Automotive Engine Oils Market.