The United Kingdom Automotive Engine Oils Market size is estimated at 123.66 Million Liters in 2024, and is expected to reach 128.62 Million Liters by 2026, growing at a CAGR of 1.99% during the forecast period (2024-2026).
Key Highlights
- Largest Segment by Vehicle Type - Passenger Vehicles : The highest engine oil consumption among all the vehicle sectors is attributed to the high proportion of active passenger vehicle population in the United Kingdom.
- Fastest Segment by Vehicle Type - Motorcycles : The expected recovery of the production and sales of motorcycles in Poland from 2021 is likely to boost the engine oil consumption in motorcycles during the forecast period.
UK Automotive Engine Oils Market Trends
Largest Segment By Vehicle Type : Passenger Vehicles
- During 2015-2019, the consumption of automotive engine oils decreased at a CAGR of 1.41%. The decline was majorly due to a drop in vehicle sales due to uncertainties related to Brexit and an increase in the application of synthetic engine oils to extend engine oil change intervals.
- In 2020, automotive sales were further affected by the COVID-19 pandemic, leading to a dip of about 27% in sales. The motorcycles segment was the least affected, with a dip of about 2.7% in sales during the year. Such trends led to a decline of about 17.98% in engine oil consumption during 2020.
- During 2021-2026, engine oil consumption is likely to record a CAGR of 1.63%, with demand majorly driven by a surge in travel rates of passenger and commercial vehicles. Electric vehicle penetration in the passenger vehicles segment is expected to have a slight impact on engine oil consumption in the future.
UK Automotive Engine Oils Industry Overview
The United Kingdom Automotive Engine Oils Market is fairly consolidated, with the top five companies occupying 67.81%. The major players in this market are BP PLC (Castrol), ExxonMobil Corporation, Petronas Lubricants International, Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).
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