Singapore Automotive Engine Oils Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 12.07 Million Liters |
| Market Volume (2026) | 13.09 Million Liters |
| CAGR (2024 - 2026) | 4.14 % |
| Market Concentration | High |
Singapore Automotive Engine Oils Market Analysis
The Singapore Automotive Engine Oils Market size is estimated at 12.07 Million Liters in 2024, and is expected to reach 13.09 Million Liters by 2026, growing at a CAGR of 4.14% during the forecast period (2024-2026).
- Largest Segment by Vehicle Type - Passenger Vehicles : High usage rates of passenger vehicles and the frequency of service needs have led to the segment being the largest among all vehicle types, in terms of lubricant demand.
- Fastest Segment by Vehicle Type - Motorcycles : The anticipated robust rebound in motorcycle usage and sales in Singapore, starting in 2021, is expected to boost motorcycle engine oil consumption over the forecast period.
Singapore Automotive Engine Oils Market Trends
This section covers the major market trends shaping the Singapore Automotive Engine Oils Market according to our research experts:
Largest Segment By Vehicle Type : Passenger Vehicles
- In Singapore, engine oils accounted for about 88.51% of automotive lubricants in 2020. During 2015-2019, engine oil consumption in the country recorded a 4.52% drop. The increasing maintenance costs of vehicles are hindering their usage and their engine oil consumption in the country.
- In 2020, the COVID-19 outbreak led to a massive decline in the usage rate of the existing vehicle fleets in the country, which led to a 17.38% dip in engine oil consumption. The passenger vehicle (PV) segment recorded the largest decline of 17.56% in engine oil consumption during 2020.
- Between 2021-2026, the motorcycles segment is expected to register the highest growth of about 4.67% in engine oil consumption, followed by the PV segment (2.58%). The growth is likely to be driven by strong demand for mopeds and motorcycles in the country over the next five years.
Singapore Automotive Engine Oils Industry Overview
The Singapore Automotive Engine Oils Market is moderately consolidated, with the top five companies occupying 48.61%. The major players in this market are BP Plc (Castrol), Chevron Corporation, ExxonMobil Corporation, Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).
Singapore Automotive Engine Oils Market Leaders
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BP Plc (Castrol)
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Chevron Corporation
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ExxonMobil Corporation
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Royal Dutch Shell Plc
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TotalEnergies
*Disclaimer: Major Players sorted in no particular order
Singapore 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.
- September 2021: ExxonMobil Asia Pacific Pte Ltd established the MobilSM Fleet Care (MFC) program for its lubricant clients, which provides fleet owners and operators with a holistic picture of their fleet's operating performance.
- May 2021: Suzuki Singapore partnered with Motul to unveil the all-new Suzuki Swift Sports Car with Motul's high-performance lubricants. Customers would receive a complimentary upgrade to Motul's engine oils for an entire year.
Singapore 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 AP Oil
5.3.2 BP Plc (Castrol)
5.3.3 Chevron Corporation
5.3.4 ENEOS Corporation
5.3.5 ExxonMobil Corporation
5.3.6 Idemitsu Kosan Co. Ltd
5.3.7 Motul
5.3.8 Repsol
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
Singapore Automotive Engine Oils Industry Segmentation
| By Vehicle Type | |
| Commercial Vehicles | |
| Motorcycles | |
| Passenger Vehicles |
Singapore Automotive Engine Oils Market Research FAQs
How big is the Singapore Automotive Engine Oils Market?
The Singapore Automotive Engine Oils Market size is expected to reach 12.07 million Liters in 2024 and grow at a CAGR of 4.14% to reach 13.09 million Liters by 2026.
What is the current Singapore Automotive Engine Oils Market size?
In 2024, the Singapore Automotive Engine Oils Market size is expected to reach 12.07 million Liters.
Who are the key players in Singapore Automotive Engine Oils Market?
BP Plc (Castrol), Chevron Corporation, ExxonMobil Corporation, Royal Dutch Shell Plc and TotalEnergies are the major companies operating in the Singapore Automotive Engine Oils Market.
Which segment has the biggest share in the Singapore Automotive Engine Oils Market?
In the Singapore Automotive Engine Oils Market, the Passenger Vehicles segment accounts for the largest share by vehicle type.
Which is the fastest growing segment in the Singapore Automotive Engine Oils Market?
In 2024, the Motorcycles segment accounts for the fastest growing by vehicle type in the Singapore Automotive Engine Oils Market.
What years does this Singapore Automotive Engine Oils Market cover, and what was the market size in 2023?
In 2023, the Singapore Automotive Engine Oils Market size was estimated at 11.77 million Liters. The report covers the Singapore Automotive Engine Oils Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Singapore Automotive Engine Oils Market size for years: 2024, 2025 and 2026.
Singapore Automotive Engine Oils Industry Report
Statistics for the 2024 Singapore Automotive Engine Oils market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Singapore Automotive Engine Oils analysis includes a market forecast outlook to 2026 and historical overview. Get a sample of this industry analysis as a free report PDF download.
