Europe Automotive Engine Oils - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2021 - 2026)

The Europe Automotive Engine Oils Market size is estimated at 2.25 Billion Liters in 2024, and is expected to reach 2.31 Billion Liters by 2026, growing at a CAGR of 1.32% during the forecast period (2024-2026).

Key Highlights

• Largest Segment by Vehicle Type - Passenger Vehicles : The highest lubricant consumption from the passenger vehicles sector was due to the high annual travel rates and requirement of regular oil changes in vehicles in Europe.
• Fastest Segment by Vehicle Type - Passenger Vehicles : The expected recovery of the production and sales of passenger vehicles in Europe from 2021 is likely to boost their engine oil consumption during the forecast period.
• Largest Country Market - Russia : Compared to other European countries, Russia is the largest market for engine oils owing to the large population of old commercial trucks and passenger vehicles.
• Fastest Growing Country Market - Poland : The gradual recovery in average travel rates and rise in the sales of new passenger vehicles are expected to boost the demand for engine oils in Poland in the coming years.

Europe Automotive Engine Oils Market Trends

Largest Segment By Vehicle Type : Passenger Vehicles

• Engine oils are the most used automotive lubricants among all product types and account for more than 70% of the total lubricant consumption volume in the industry. During 2015-2018, engine oil consumption witnessed significant growth. However, the region's declining annual mileage and production output of vehicles caused a 1% drop in engine oil consumption during 2019.
• In 2020, the COVID-19 outbreak resulted in a huge decline in the usage of existing European vehicle fleets. As a result, engine oil consumption in the region decreased by around 15.83%.
• Despite the expected recovery in sales and production of passenger vehicles, an increase in the penetration of electric vehicles is expected to have a negative impact on engine oil consumption. Additionally, the persisting COVID-19 crisis is likely to hinder the growth of engine oil consumption in the region.

Largest Country : Russia

• During 2015-2019, the European automotive engine oil market witnessed an increase of around 2% in engine oil demand. During this period, Russia was the leading consumer of automotive engine oils among European countries, owing to the presence of many old commercial vehicles in the country.
• Poland is expected to be the fastest-growing automotive engine oil market in Europe during the forecast period. The anticipated growth in the number of low-cost passenger vehicle units in the country is likely to drive engine oil consumption significantly.
• Major countries, like Germany, France, and the United Kingdom, are likely to witness a rapid surge in electric vehicle adoption due to the financial incentives provided by the governments. This trend is expected to hamper the growth in engine oil consumption in Europe during the next five years.

Europe Automotive Engine Oils Industry Overview

The Europe Automotive Engine Oils Market is moderately consolidated, with the top five companies occupying 49.74%. The major players in this market are BP PLC (Castrol), ExxonMobil Corporation, LUKOIL, Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).

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• The market estimate (ME) sheet in Excel format
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