Norway Automotive Engine Oils Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 14.20 Million Liters |
| Market Volume (2026) | 14.01 Million Liters |
| CAGR (2024 - 2026) | -0.67 % |
| Market Concentration | High |
Norway Automotive Engine Oils Market Analysis
The Norway Automotive Engine Oils Market size is estimated at 14.20 Million Liters in 2024, and is expected decline to 14.01 Million Liters by 2026.
- Largest Segment by Vehicle Type - Commercial Vehicles : The highest engine oil demand from the commercial vehicles sector in Norway is attributed to the high average volume of engine oil changes and cycles for commercial vehicles.
- Fastest Segment by Vehicle Type - Commercial Vehicles : The expected recovery of production and sales of commercial vehicles in Norway from 2021 is likely to boost the engine oil consumption during the forecast period.
Norway Automotive Engine Oils Market Trends
This section covers the major market trends shaping the Norway Automotive Engine Oils Market according to our research experts:
Largest Segment By Vehicle Type : Commercial Vehicles
- During 2015-2019, engine oil consumption decreased at a CAGR of 1.79%. This trend was majorly due to a significant rise in EV penetration in the PVs segment and the increased preference for synthetic oils in the CVs segment.
- In 2020, overall automotive sales registered a decline of about 8.23% in the country due to the impact of the COVID-19 outbreak. The motorcycles segment was the only segment that witnessed growth, resulting in a smaller decline in the demand for engine oils.
- Over the forecast period, the consumption of engine oils is projected to record a negative CAGR of 0.35%, with commercial vehicles majorly driving the demand; also caused by Norway aiming to achieve 100% electric vehicle penetration by 2025. The motorcycles segment is also expected to add to the demand for engine oils in the country.
Norway Automotive Engine Oils Industry Overview
The Norway Automotive Engine Oils Market is moderately consolidated, with the top five companies occupying 53.18%. The major players in this market are BP PLC (Castrol), ExxonMobil Corporation, FUCHS, Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).
Norway Automotive Engine Oils Market Leaders
-
BP PLC (Castrol)
-
ExxonMobil Corporation
-
FUCHS
-
Royal Dutch Shell Plc
-
TotalEnergies
*Disclaimer: Major Players sorted in no particular order
Norway 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.
- October 2021: Valvoline and Cummins extended their long-standing marketing and technology collaboration agreement for another five years. Cummins will endorse and promote Valvoline's Premium Blue engine oil for its heavy-duty diesel engines and generators and will distribute Valvoline products through its global distribution networks.
- June 2021: TotalEnergies and Stellantis group renewed their partnership for cooperation across different segments. Along with the renewal of partnerships with Peugeot, Citroën, and DS Automobiles, the new collaboration extends to Opel, and Vauxhall as well. This partnership includes the development and innovation of lubricants, first-fill in Stellantis group vehicles, recommendation of Quartz lubricants, and shared usage of charging stations operated by TotalEnergies, among others.
Norway 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
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 Champion Lubricants
5.3.3 CHEVRON CORPORATION
5.3.4 ExxonMobil Corporation
5.3.5 FUCHS
5.3.6 Motul
5.3.7 Royal Dutch Shell Plc
5.3.8 TotalEnergies
5.3.9 Valvoline Inc.
6. Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
Norway Automotive Engine Oils Industry Segmentation
| By Vehicle Type | |
| Commercial Vehicles | |
| Motorcycles | |
| Passenger Vehicles |
Norway Automotive Engine Oils Market Research FAQs
What is the current Norway Automotive Engine Oils Market size?
In 2024, the Norway Automotive Engine Oils Market size is expected to reach 14.20 million Liters.
Who are the key players in Norway Automotive Engine Oils Market?
BP PLC (Castrol), ExxonMobil Corporation, FUCHS, Royal Dutch Shell Plc and TotalEnergies are the major companies operating in the Norway Automotive Engine Oils Market.
Which segment has the biggest share in the Norway Automotive Engine Oils Market?
In the Norway Automotive Engine Oils Market, the Commercial Vehicles segment accounts for the largest share by vehicle type.
Which is the fastest growing segment in the Norway Automotive Engine Oils Market?
In 2024, the Commercial Vehicles segment accounts for the fastest growing by vehicle type in the Norway Automotive Engine Oils Market.
What years does this Norway Automotive Engine Oils Market cover, and what was the market size in 2023?
In 2023, the Norway Automotive Engine Oils Market size was estimated at 14.17 million Liters. The report covers the Norway Automotive Engine Oils Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Norway Automotive Engine Oils Market size for years: 2024, 2025 and 2026.
Norway Automotive Engine Oils Industry Report
Statistics for the 2023 Norway Automotive Engine Oils market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Norway Automotive Engine Oils analysis includes a market forecast outlook to 202 and historical overview. Get a sample of this industry analysis as a free report PDF download.
