APAC Automotive Engine Oils Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 7.63 Billion Liters |
| Market Volume (2026) | 8.30 Billion Liters |
| CAGR (2024 - 2026) | 4.30 % |
| Market Concentration | High |
APAC Automotive Engine Oils Market Analysis
The Asia-pacific Automotive Engine Oils Market size is estimated at 7.63 Billion Liters in 2024, and is expected to reach 8.30 Billion Liters by 2026, growing at a CAGR of 4.30% during the forecast period (2024-2026).
- 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.
APAC Automotive Engine Oils Market Trends
This section covers the major market trends shaping the APAC Automotive Engine Oils Market according to our research experts:
Largest Segment By Vehicle Type : Passenger Vehicles
- Engine oils are the most used automotive lubricants among all the product types . During 2015-2019, the automotive engine oil consumption in the Asia-Pacific region increased by around 16%. In 2020, engine oils accounted for around 70% of the total automotive lubricant consumption volume in the region.
- In 2020, the COVID-19 outbreak resulted in a huge decline in the usage of the existing Asia-Pacific vehicle fleet. As a result, engine oil consumption in the region decreased by around 6.2% during 2019-2020.
- Along with the expected recovery in sales and production of automobiles, an increase in the penetration of electric vehicles is expected to have a meagre on engine oil consumption. Considering these factors, the engine oil consumption is expected to grow at a CAGR of 4.73% during the 2021-2026.
Largest Country : China
- During 2015-19, automotive engine oil consumption in Asia-Pacific increased by 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 in the region in 2020.
- 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 2019-20, followed by India, which recorded a 16.2% drop.
- During 2021-26, 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.
APAC Automotive Engine Oils Industry Overview
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).
APAC Automotive Engine Oils Market Leaders
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BP Plc (Castrol)
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China National Petroleum Corporation
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China Petroleum & Chemical Corporation
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ExxonMobil Corporation
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Royal Dutch Shell Plc
*Disclaimer: Major Players sorted in no particular order
APAC Automotive Engine Oils Market News
- January 2022: Effective April 1, ExxonMobil Corporation was organized along three business lines - ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon Solutions.
- December 2021: ExxonMobil introduced a line of synthetic engine oils, i.e., Mobil Super Pro, for SUVs in India.
- October 2021: Castrol, one of Malaysia's major automotive lubricant manufacturers, introduced Castrol Power1 Ultimate, a brand-new type of 100% synthetic engine oil that promises exceptional performance and endurance.
APAC Automotive Engine Oils Market Report - Table of Contents
1. Executive Summary & Key Findings
2. Introduction
2.1 Study Assumptions & Market Definition
2.2 Scope of the Study
2.3 Research Methodology
3. Key Industry Trends
3.1 Automotive Industry Trends
3.2 Regulatory Framework
3.3 Value Chain & Distribution Channel Analysis
4. Market Segmentation
4.1 By Vehicle Type
4.1.1 Commercial Vehicles
4.1.2 Motorcycles
4.1.3 Passenger Vehicles
4.2 By Product Grade
4.3 By Country
4.3.1 China
4.3.2 India
4.3.3 Indonesia
4.3.4 Japan
4.3.5 Malaysia
4.3.6 Philippines
4.3.7 Singapore
4.3.8 South Korea
4.3.9 Thailand
4.3.10 Vietnam
4.3.11 Rest of Asia-Pacific
5. Competitive Landscape
5.1 Key Strategic Moves
5.2 Market Share Analysis
5.3 Company Profiles
5.3.1 BP Plc (Castrol)
5.3.2 Chevron Corporation
5.3.3 China National Petroleum Corporation
5.3.4 China Petroleum & Chemical Corporation
5.3.5 ExxonMobil Corporation
5.3.6 Indian Oil Corporation Limited
5.3.7 Motul
5.3.8 PT Pertamina
5.3.9 Royal Dutch Shell Plc
5.3.10 TotalEnergies
6. Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
APAC Automotive Engine Oils Industry Segmentation
| By Vehicle Type | |
| Commercial Vehicles | |
| Motorcycles | |
| Passenger Vehicles |
| By Country | |
| China | |
| India | |
| Indonesia | |
| Japan | |
| Malaysia | |
| Philippines | |
| Singapore | |
| South Korea | |
| Thailand | |
| Vietnam | |
| Rest of Asia-Pacific |
APAC Automotive Engine Oils Market Research FAQs
How big is the Asia-pacific Automotive Engine Oils Market?
The Asia-pacific Automotive Engine Oils Market size is expected to reach 7.63 billion Liters in 2024 and grow at a CAGR of 4.30% to reach 8.30 billion Liters by 2026.
What is the current Asia-pacific Automotive Engine Oils Market size?
In 2024, the Asia-pacific Automotive Engine Oils Market size is expected to reach 7.63 billion Liters.
Who are the key players in Asia-pacific Automotive Engine Oils Market?
BP Plc (Castrol), China National Petroleum Corporation, China Petroleum & Chemical Corporation, ExxonMobil Corporation and Royal Dutch Shell Plc are the major companies operating in the Asia-pacific Automotive Engine Oils Market.
Which segment has the biggest share in the Asia-pacific Automotive Engine Oils Market?
In the Asia-pacific Automotive Engine Oils Market, the Passenger Vehicles segment accounts for the largest share by vehicle type.
Which country has the biggest share in the Asia-pacific Automotive Engine Oils Market?
In 2024, China accounts for the largest share by country in the Asia-pacific Automotive Engine Oils Market.
What years does this Asia-pacific Automotive Engine Oils Market cover, and what was the market size in 2023?
In 2023, the Asia-pacific Automotive Engine Oils Market size was estimated at 7.28 billion Liters. The report covers the Asia-pacific Automotive Engine Oils Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-pacific Automotive Engine Oils Market size for years: 2024, 2025 and 2026.
Asia Pacific Automotive Engine Oil Industry Report
Statistics for the 2023 Asia Pacific Automotive Engine Oil market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia Pacific Automotive Engine Oil analysis includes a market forecast outlook to 202 and historical overview. Get a sample of this industry analysis as a free report PDF download.
