Europe Automotive Engine Oil Market: Industry Analysis and Forecast (2024-2030)

Europe Automotive Engine Oil Market Overview

Automotive engine oil, or motor oil, is vital for engine health. It reduces friction between moving parts, ensuring efficient operation and preventing wear. It also acts as a coolant, absorbing and dissipating heat generated during combustion to prevent overheating. The oil's cleaning properties collect contaminants, preventing sludge build up and maintaining engine cleanliness. Additionally, it provides corrosion protection by neutralizing acids and preventing rust. Engine oil aids in sealing gaps between components, ensuring optimal performance and fuel efficiency.

 

The comprehensive report covers a detailed analysis of the US Automotive Engine Oil Market. The Report focuses on the strategic partnership and development of the market leaders in the European automotive Engine Oil Market. The analysis offers crucial insights into the current European automotive Engine Oil Market and unravels emerging trends and possibilities. The report consists of various factors propelling the market growth of Europe. The analysis of the countries which hold the majority of the market share in Europe.

 

The Europe Automotive Engine Oil market report presents significant opportunities for stakeholders across the gaming ecosystem, driven by evolving consumer preferences, technological innovation, and strategic partnerships. Additionally, addressing regulatory hurdles, enhancing monetization strategies, and increasing into new markets has been imperative for ensuring sustained growth and competitiveness in the dynamic Automotive Engine Oil landscape in Europe.

 

To get more Insights: Request Free Sample Report

 

Europe Automotive Engine Oil Market Dynamics

The Surge of Engine Oils in Europe's Automotive Market

The increasing production of car and vehicle fuels in the region has boosted the demand for Automotive Engine oil in Europe as it is accounted as the largest hub for automobile manufacturing with various car manufacturers operating in the region. The rise of Synthetic oils in Europe because it is free from impurities and do not create sludge or deposits in engines has accelerated the market growth in Europe.

 

Market growth is driven by the increasing adoption of synthetic oils in both passenger vehicles and commercial fleets globally, driven by their ability to provide superior protection and performance benefits. The growing demand for fully synthetic engine oils is being driven by several factors, including the increasing complexity and sophistication that has propelled the market growth in Europe.

 

Engine oil manufacturers are continually innovating to develop high-performance lubricants that meet the evolving needs of modern engines, including those with turbocharged engines, hybrid systems, and electric powertrains.

 

The Impact of Electric Vehicles and Economic Factors on Europe's Engine Oil Market

The surging popularity of electric vehicles stands to rattle fossil fuel markets, with energy experts anticipating an erosion of oil demand for transportation around the globe has impacted the market growth in Europe. For instance, The recent signing of the Paris Agreement, along with rising air quality concerns and the diesel emissions scandal, have all precipitated diesel or fossil fuel restrictions. France is expected to ban all gasoline and diesel vehicles by 2040 resulting in lower demand for engine oil in Europe.

 

Original equipment manufacturers (OEM) are divesting from ICEs, adding momentum to the transition. Volvo, for example, has announced it will no longer develop new diesel engines, largely because it believes compliance with carbon emission regulations would be difficult to achieve at a reasonable cost.

 

The cost of engine oil fluctuates due to factors like changes in crude oil prices. As it makes it difficult for both producers and consumers to maintain stable pricing. Economic growth is one of the biggest factors affecting petroleum products and therefore crude oil—demand. Growing economies mean a higher energy demand and a rise in the cost of oil has been hindering the market growth of Europe.

 

Europe Automotive Engine Oil Market Segment Analysis

Based on Vehicle Type, the Passenger Vehicles Segment holds the largest share and is expected to grow with an increasing CAGR during the forecast period.  The European passenger car engine oil market has been segmented by many factors including performance, specifications, viscosity grade, base oils, elemental limits, and after-treatment system compatibility. The demand to increase the fuel efficiency of vehicles is not only to reduce fossil fuel consumption but also to reduce carbon dioxide (CO2) emissions has accelerated the market growth. The increase in several passenger cars in Europe compared to commercial vehicles has boosted the market growth in Europe and continuous change in engine oil has created the demand for the Automotive Engine Oil Market.

 

Based on Grade, the Mineral Oil segment is expected to dominate the country owing to cost-effectiveness and enhance the efficiency of the engine has increased the demand for the engine oil market in Europe. Mineral oils are mixed with advanced technology additives to give high anti-wear and detergency properties, thus providing longer engine life and maintaining maximum performance.

Europe Automotive Engine Oil Market Regional Analysis

The Report has covered several aspects related to the European automotive engine oil market that have influenced market growth and market trends in the region. Regional Sections include an analysis of all countries which are present in Europe.

 

Germany held the largest share in the Automotive Engine Oil Market and is expected to maintain its dominance during the forecast period. The automotive sector is the backbone industry in Germany, and the German automotive industry is a global leader. Germany is also one of the strongest countries in the world when it comes to high-tech automotive products, including autonomous driving technology. The rising number of vehicle manufacturers has generated demand for engine oil in Germany and has been boosting the market growth in Germany.

 

• 3.1 M passenger vehicles produced in 2022, making Germany Europe's leading production site.

 

Russia is set to be the second-largest country in Europe in terms of market size for industrial lubricants, with a focus on research and development driving innovation in the industrial lubricants sector.

 

The United Kingdom is expected to be the fastest growing country with a growing CAGR during the forecast period. Continuous advancement in lubricant formulations, such as synthetic and semi-synthetic oils, that improved performance and enhanced engine protection has propelled the market growth in the country.

 

Western Europe, comprising countries like Germany, France, and the United Kingdom, holds the largest share owing to the presence of major automotive manufacturers and a high concentration of vehicles in the region.

Europe Automotive Engine Oil Market Competitive Landscape

Competitive Landscape in the report represents the current market situation, mergers and acquisitions, and recent developments of the Market Leaders. The Increasing need for automotive engine oil in Europe provides revenue opportunities for manufacturers, distributors, and service providers in the market. Ongoing Collaboration with vehicle manufacturers, distributors, and retailers has helped to grow market reach and enhance brand visibility in Europe.

 

• In September 2023, TotalEnergies announced an agreement with Automotive Parts Services Group (The Group), a leading provider of automotive aftermarket parts and services, announced a strategic partnership aimed at delivering enhanced value to their customers.
• In 2023, Shell returned $23 billion to shareholders. In line with its progressive dividend policy, Shell is now increasing its dividend by 4%. We are also commencing a $3.5 billion buyback program for the upcoming months.

 

Europe Automotive Engine Oil Market Scope
Market Size in 2023	USD  2.30 Bn.
Market Size in 2030	USD 2.54 Bn.
CAGR (2024-2030)	1.45 %
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Grade Mineral  Semi-Synthetic  Fully-synthetic
	By Engine Type Gasoline Diesel Alternative Fuels
	By Vehicle Type Passenger Cars Light Commercial Vehicles Heavy-Duty Vehicles Motorcycle
Country Scope	Germany United Kingdom Spain France Italy Belgium Sweden Poland Russia

 

Europe Automotive Engine Oil Market Key Players

1. Total Energies
2. Royal Dutch Shell
3. BP plc
4. Lukoil
5. Fuchs Petrolub
6. Valvoline Inc.
7.  Wurth Group GmbH
8.  Castrol Ltd.
9. ExxonMobil
10. Eni GmbH
11.  Amsoil Inc.
12. Petronas

 

Country Breakdown:

United Kingdom Automotive Engine Oil Market: Industry Analysis and Forecast (2024-2030)

 

Germany Automotive Engine Oil Market: Industry Analysis and Forecast (2024-2030)