The global aftermarket for engine oil in passenger cars market size reached 1.1 Billion Gallons in 2022. Looking forward, the publisher expects the market to reach 1.38 Billion Gallons by 2028, exhibiting a growth rate (CAGR) of 3.86% during 2023-2028. The increasing demand for passenger cars, the escalating need for regular maintenance, check, and servicing in vehicles, rapid product innovations, widespread product availability across e-commerce platforms, and extensive research and development (R&D) activities are some of the key factors driving the market.
The aftermarket for engine oil in passenger cars refers to the sale and distribution of engine oil products that are not directly supplied by the original equipment manufacturer (OEM) or the vehicle manufacturer. It offers a diverse range of engine oil products to cater to different car models, engine types, and performance requirements. The aftermarket for engine oil in passenger cars helps ensure proper engine maintenance, enhances the performance of passenger car engines, and provides cost-effective solutions for oil changes and routine maintenance. As compared to purchasing OEM-branded oils, aftermarket engine oils are widely accessible through various channels, such as auto parts stores, online retailers, and independent service centers, and are cost-effective. Moreover, aftermarket engine oils are extensively used in pickup trucks, minivans, SUVs, and compact cars.
The aftermarket for engine oil in passenger cars refers to the sale and distribution of engine oil products that are not directly supplied by the original equipment manufacturer (OEM) or the vehicle manufacturer. It offers a diverse range of engine oil products to cater to different car models, engine types, and performance requirements. The aftermarket for engine oil in passenger cars helps ensure proper engine maintenance, enhances the performance of passenger car engines, and provides cost-effective solutions for oil changes and routine maintenance. As compared to purchasing OEM-branded oils, aftermarket engine oils are widely accessible through various channels, such as auto parts stores, online retailers, and independent service centers, and are cost-effective. Moreover, aftermarket engine oils are extensively used in pickup trucks, minivans, SUVs, and compact cars.
Aftermarket for Engine Oil in Passenger Cars Market Trends:
The increasing demand for passenger cars across the globe is one of the key factors propelling the market growth. In line with this, the rising need for regular maintenance and servicing is acting as another growth-inducing factor. Engine oil is widely used for regular maintenance to ensure optimal engine performance and longevity. Moreover, the widespread product adoption to maintain performance and prevent engine wear in aging vehicles is creating a positive outlook for the market. Apart from this, the introduction of advanced engine oils that can withstand higher temperatures and provide improved lubrication is providing an impetus to the market growth. Additionally, the increasing demand for engine oil products that contribute to reduced emissions and improved fuel efficiency due to the rising environmental consciousness among the masses is contributing to the market growth. Furthermore, the increasing awareness among consumers regarding the importance of regular vehicle maintenance, including oil changes, is positively influencing the market growth. Other factors, including significant growth in the automotive industry, enhanced focus on research and development (R&D) activities, and widespread product availability across e-commerce platforms, are repeating remunerative growth opportunities for the market.Key Market Segmentation:
The publisher provides an analysis of the key trends in each segment of the global aftermarket for engine oil in passenger cars market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on application.Application Insights:
- Pickup Trucks
- Minivans
- SUVs
- Compact Car
Regional Insights:
- North America
- United States
- Canada
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global aftermarket for engine oil in passenger cars market. Detailed profiles of all major companies have been provided. Some of the companies covered include Amsoil Inc., Castrol Limited (BP p.l.c.), Chevron Corporation (Hinduja Group), Gulf Oil Lubricants India Ltd, Shell plc, Valvoline Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report:
- How has the global aftermarket for engine oil in passenger cars market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global aftermarket for engine oil in passenger cars market?
- What is the impact of each driver, restraint, and opportunity on the global aftermarket for engine oil in passenger cars market?
- What are the key regional markets?
- Which countries represent the most attractive aftermarket for engine oil in passenger cars market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the aftermarket for engine oil in passenger cars market?
- What is the competitive structure of the global aftermarket for engine oil in passenger cars market?
- Who are the key players/companies in the global aftermarket for engine oil in passenger cars market?
Table of Contents
1 Preface3 Executive Summary9 Value Chain Analysis11 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Aftermarket for Engine Oil in Passenger Cars Market
6 Market Breakup by Application
7 Market Breakup by Region
8 Drivers, Restraints, and Opportunities
10 Porters Five Forces Analysis
12 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Amsoil Inc.
- Castrol Limited (BP p.l.c.)
- Chevron Corporation (Hinduja Group)
- Gulf Oil Lubricants India Ltd
- Shell plc
- Valvoline Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 150 |
| Published | July 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 1.1 Billion |
| Forecasted Market Value ( USD | $ 1.38 Billion |
| Compound Annual Growth Rate | 3.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 6 |
