Automotive Engine Oil Market Outlook:
Automotive Engine Oil Market size was valued at USD 41.6 billion in 2025 and is projected to reach USD 57.1 billion by the end of 2035, rising at a CAGR of 3.6% during the forecast period, i.e., 2026-2035. In 2026, the industry size of automotive engine oil is evaluated at USD 43.1 billion.
The global market is primarily driven by the increasing demand for internal combustion engine vehicles in operation and spare parts maintenance cycles, which directly associates with engine oil consumption for service and replacement. In this context, the U.S. Highway Statistics 2023 report showcased the continued prevalence and usage of internal combustion engine vehicles, highlighting the heightened demand for automotive engine oil. It also mentioned that there has been a total of 284.6 million registered vehicles in 2023, which included 197.1 million light-duty vehicles and more than 11.5 million buses and trucks. The operational fleet sustains high maintenance needs. Moreover, the average travel per vehicle was 11,408 miles, which indicates that substantial ongoing engine utilization driving routine lubrication requirements.
U.S. Highway Vehicle and Fuel Consumption Statistics, 2023
|
Category |
Registered Vehicles |
Average Miles per Vehicle |
Fuel Consumed (thousand gallons) |
Average MPG |
|
Light Duty Vehicles |
197,134,299 |
11,026 |
88,145,179 |
24.7 |
|
Motorcycles |
9,516,910 |
2,121 |
459,065 |
44.0 |
|
Buses |
967,525 |
18,295 |
2,396,495 |
7.4 |
|
Single-Unit Trucks |
62,103,995 |
11,360 |
39,334,720 |
17.9 |
|
Combination Trucks |
3,324,112 |
58,890 |
29,296,989 |
6.7 |
|
Total All Motor Vehicles |
284,614,269 |
11,408 |
176,795,288 |
18.4 |
Source: FHWA
Furthermore, the article published by ARF in September 2023 reported that in a span of one year, India’s oil imports from Russia surged from 1% to 40% of its total crude imports, the government saving approximately USD 3.6 billion in FY 2022‑23, whereas private refiners saved USD 7.6 billion. It also mentioned that India-based firms exported 3.8 million tons of processed Russian crude to Europe, thereby generating USD 20 billion in revenues for Russia and supporting its foreign exchange reserves. Meanwhile, investments in Russian energy projects have faced temporary operational halts owing to Western sanctions, but India continues to benefit from discounted crude prices and strengthened energy security. Hence, the bilateral energy partnership remains a strategic cornerstone, balancing geopolitical shifts and Western-imposed price caps thereby fostering long-term economic collaboration, stimulating progress in the market. Also, imports of lube oil are supporting the growth of the market by providing high-quality base stocks for lubricant production.
Monthly Imports of Lube Oil (LOBS) in India 2025-2026 (‘000 Metric Tonnes)
|
Month |
LOBS / Lube Oil Imports ('000 MT) |
|
April 2025 |
296 |
|
May 2025 |
243 |
|
June 2025 |
259 |
|
July 2025 |
261 |
|
August 2025 |
243 |
|
September 2025 |
298 |
|
October 2025 |
242 |
|
November 2025 |
232 |
|
Total |
2,073 |
Source: PPAC
