Japan Automotive Engine Oils Market Size, Share, and COVID-19 Impact Analysis, By Grade (Mineral, Semi-synthetic, Fully-synthetic), By Engine Type (Gasoline, Diesel, Alternative Fuels), By Vehicle Type (Passenger Cars, Motorcycle), and Japan Automotive Engine Oils Market Insights Forecasts to 2033

Industry: Automotive & Transportation

RELEASE DATE Jan 2024
REPORT ID SI3490
PAGES 200
REPORT FORMAT PathSoft

Japan Automotive Engine Oils Market Insights Forecasts to 2033

  • The Japan Automotive Engine Oils Market Size was valued at USD 341.27 Million Liters in 2023.
  • The Market Size is Growing at a CAGR of 0.97% from 2023 to 2033.
  • The Japan Automotive Engine Oils Market Size is Expected to Reach USD 375.86 Million Liters by 2033.

Japan Automotive Engine Oils Market

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The Japan Automotive Engine Oils Market Size is expected to reach USD 375.86 Million liters by 2033, at a CAGR of 0.97% during the forecast period 2023 to 2033.

 

Market Overview

Automotive engine oils are essential for lubrication, cooling, and protection in internal combustion engines. These oils are precisely developed to satisfy the stringent demands of modern engines, which operate at high temperatures and pressures. Engine oils have various important purposes, including reducing friction between moving parts, preventing corrosion, and cleaning pollutants from the engine. They also help to keep a consistent temperature within the engine by dispersing heat. Furthermore, engine oils are available in a variety of formulas and viscosities to meet the needs of a wide range of vehicles, from compact cars to heavy-duty trucks. Furthermore, Japan manufacturers provide oils with modern additives to boost fuel efficiency, reduce pollutants, and increase engine life. The variety of available engine lubricants, including synthetic, semi-synthetic, and mineral oils, provide a diverse variety of alternatives adapted to specific driving circumstances and individual needs. Regular oil changes are required to ensure peak engine performance and longevity. Moreover, government-imposed rigorous environmental rules and emission requirements are encouraging automobile manufacturers to use eco-friendly and efficient engine oils, creating a favorable background for market advancement. Aside from that, the increasing use of engine oils specifically designed for modern internal combustion engines with features such as turbocharging, direct injection, and cylinder deactivation is expected to drive the growth of the automotive engine oils market in Japan over the forecast period.

 

Report Coverage

This research report categorizes the market for Japan automotive engine oils market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japan automotive engine oils market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Japan automotive engine oils market.

 

Japan Automotive Engine Oils Market Report Coverage

Report CoverageDetails
Base Year:2023
Market Size in 2023:USD 341.27 Million
Forecast Period:2023-2033
Forecast Period 2023-2033 CAGR:0.97%
2033 Value Projection:375.86 Million
Historical Data for:2019-2022
No. of Pages:200
Tables, Charts & Figures:115
Segments covered:By Grade, By Engine Type, By Vehicle Type
Companies Covered:Fuchs Japan Ltd., Japan Sun Oil Company, Ltd., AKT Japan Co. Ltd, Motul, Castrol, Cosmo Energy Holdings Co., Ltd., ENEOS Corporation, and other key companies.
Pitfalls & Challenges:Covid-19 Empact,Challenges,Growth, Analysis.

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Driving Factors

The automotive engine oils market in Japan is primarily driven by a number of important variables, indicating a strong spike in demand, owing to the automotive industry's rapid growth. The most significant of these drivers is the rigorous intensification of vehicle manufacturing and sales, which needs increasing consumption of engine oils, therefore contributing to the region's market expansion. Additionally, the ongoing developments and advancements in engine oil compositions, which are creating significant market potential, are working as a catalyst for increasing the overall growth path Similarly, increased consumer knowledge of engine oils' critical role in improving vehicle performance, longevity, and fuel efficiency is driving market expansion in Japan.

 

Restraining Factors

The automotive engine oil market for automotive engine oil is facing a number of challenges due to changeable price changes, overuse or product shortages, currency fluctuations, ongoing improvements in the efficient product, and environmental laws. The number of competitors has increased, raising concerns about the organization's ability to compete in high-risk, high-reward markets. The cost of production is high since it involves a complex process of driving out finished goods. Customers want a competitively priced product; thus, pricing is a significant challenge. As a result, the buyer has difficulty purchasing the product.

 

Market Segment

  • In 2023, the fully-synthetic segment accounted for the largest revenue share over the forecast period.

Based on the grade, the Japan automotive engine oils market is segmented into mineral, semi-synthetic, and fully-synthetic. Among these, the fully-synthetic segment has the largest revenue share over the forecast period. This is owing to a variety of beneficial qualities, including increased lubrication, improved stability, smaller deposits, reduced degradation, and more. It protects the engine three times better than regular mineral oils, cleans up to five times better, and cuts engine wear and tear in half when compared to petroleum-based oils.

 

  • In 2023, the diesel segment accounted for the largest revenue share over the forecast period.

On the basis of engine type, the Japan automotive engine oils market is segmented into gasoline, diesel, and alternative fuels. Among these, the diesel segment has the largest revenue share over the forecast period. Compared to gasoline engines, diesel engines are somewhat more in demand. Diesel cars are more expensive than gasoline cars, owing to the lower cost of diesel fuel. Diesel engines utilize 40% more energy than gasoline engines, making them 40% more efficient. The combustion process is more efficient and emits less carbon dioxide.

 

  • In 2023, the passenger cars segment is expected to hold the largest share of the Japan automotive engine oils market during the forecast period.          

Based on the vehicle type, the Japan automotive engine oils market is classified into passenger cars, and motorcycle. Among these, the passenger cars segment is expected to hold the largest share of the Japan automotive engine oils market during the forecast period. Consumer preferences in the passenger vehicle category have changed over the past ten years in Japan. Consumers are increasingly preferring vehicles that produce less greenhouse gases and consume less petroleum while maintaining outstanding overall performance. These factors have led to significant foreign investment in the sector to manufacture a product that meets the automotive engine oil market demand.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Japan automotive engine oils market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

  • Fuchs Japan Ltd.
  • Japan Sun Oil Company, Ltd.
  • AKT Japan Co. Ltd
  • Motul
  • Castrol
  • Cosmo Energy Holdings Co., Ltd.
  • ENEOS Corporation
  • Others

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting and Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the Japan Automotive Engine Oils Market based on the below-mentioned segments:

 

Japan Automotive Engine Oils Market, By Grade

  • Mineral
  • Semi-synthetic
  • Fully-synthetic

 

Japan Automotive Engine Oils Market, By Engine Type

  • Gasoline
  • Diesel
  • Alternative Fuels

 

Japan Automotive Engine Oils Market, By Vehicle Type

  • Passenger Cars
  • Motorcycle

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