The scope of our recent study on the " "Engine Oil Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis - by Type and End-Use Industry" includes the factors fueling the engine oil market growth, revenue estimation, and forecast, market share analysis, and the identification of significant market players and their key developments.

The engine oil market size was valued at US$ 81.56 billion in 2024 and is expected to reach US$ 114.81 billion by 2031; it is estimated to register a CAGR of 5.2% from 2025 to 2031.

The engine oil market growth is driven by an increasing vehicle population, developing industrial and construction sectors, and the need for high-performance synthetic and semi-synthetic lubricants with better engine protection, fuel efficiency, and a longer drain interval. These sophisticated formulations are essential in contemporary engines, particularly turbocharged, direct-injection, and hybrid engines, where high temperatures, pressure, and close tolerances render traditional mineral oils ineffective. Additionally, using traditional oils in such engines can result in increased wear, sludge formation, and lower efficiency. Demand is rising as stricter emissions standards (Euro 7, EPA, China VI), growing electric and hybrid sales requiring specialized thermal fluids, and strong lubricant exports from India, China, and Southeast Asia reshape the market. With cost of ownership, engine longevity, and compliance with OEM standards becoming priorities for fleets and consumers, high-quality engine oils are now a critical component in an increasingly regulated automotive and industrial landscape.

The engine oil market analysis has been performed by considering the following segments: type and end-use industry. By type, the engine oil market is segmented into mineral oil, synthetic oil, and bio-based oil. The mineral oil segment accounted for the largest engine oil market share in 2024. Mineral oil is cost-effective and highly compatible. It is popular among fleet operators, older vehicle fleets, and price-sensitive emerging markets that use traditional gasoline and diesel engines. The oil provides strong film strength, inherent detergency, and excellent solubility with older additive packages, ensuring reliable lubrication under moderate operating conditions. It also offers superior seal compatibility while maintaining low component compatibility in engines designed before the adoption of tighter tolerances and turbocharging. This is especially relevant for high-mileage vehicles, heavy-duty off-road equipment, and mixed-fleet operations. In these cases, extreme performance is not required, but consistent protection against wear, oxidation, and deposit formation is critical. This protection becomes important when service intervals are long, or the vehicle operates in high-temperature, dusty environments, or with high-sulfur fuels. Mineral oil formulations are still widely used in price-sensitive sectors and remain the most common and effective base oil category for cost-conscious applications across the engine oil market.

In terms of end-use industry, the market is categorized into automotive, building and construction, power generation, mining and metallurgy, oil and gas, marine, aviation, and others. The automotive market is further segmented into passenger cars, light commercial vehicles, heavy commercial vehicles, and others.

The automotive segment held the largest share of the engine oil market in 2024, driven by its critical role in maintaining engine performance, efficiency, and longevity across passenger and commercial vehicles. Engine oils used in this segment offer an optimal combination of lubrication, thermal stability, and wear protection, making them suitable for a wide range of vehicle types and driving conditions. These formulations provide dependable resistance to oxidation, deposits, and friction, ensuring smooth operation during both everyday commuting and heavy-duty use. Their broad applicability and proven performance make them the preferred choice for automakers, service centers, and vehicle owners seeking reliable, cost-effective solutions that support engine cleanliness, fuel efficiency, and compliance with evolving emission standards.

The engine oil market is segmented into five main regions-North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The Asia Pacific region is expected to register the fastest CAGR in the global engine oil market from 2025 to 2031, driven by rapid expansion in the automotive, industrial, and transportation sectors across emerging economies. Rising vehicle ownership, growing commercial fleets, and increasing production of passenger cars and two-wheelers are significantly boosting the demand for high-performance engine oils. Strengthening economic activity, urbanization, and expanding logistics networks across China, India, Southeast Asia, and Australia further support market growth. Additionally, leading lubricant manufacturers are investing in localized production facilities, advanced formulation technologies, and distribution network enhancements to meet rising regional demand. Increasing consumer preference for reliable, fuel-efficient, and emission-compliant engine oils continues to reinforce the Asia Pacific's strong growth trajectory.

The report includes the segmentation of the global engine oil market as follows:

Based on type, the engine oil market is segmented into mineral oil, synthetic oil, and bio-based oil. In terms of end-use industry, the market is categorized into automotive, building and construction, power generation, mining and metallurgy, oil and gas, marine, aviation, and others. The automotive segment is segmented into passenger cars, light commercial vehicles, heavy commercial vehicles, and others.

The geographical scope of the engine oil market report focuses on North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The market in North America is segmented into the US, Canada, and Mexico. The market in Europe is categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The market in the Asia Pacific is divided into Australia, China, India, Japan, South Korea, and the Rest of the Asia Pacific. The engine oil market in the Middle East & Africa is classified into South Africa, Saudi Arabia, the UAE, and the Rest of the Middle East & Africa. The market in South & Central America is segmented into Brazil, Argentina, and the Rest of South & Central America.

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