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Philippines Automotive Engine Oils Market Size, Analysis: By Type: Mineral, Semi-Synthetic, Fully Synthetic; By Vehicle Type: Passenger Vehicles, Motorcycles, Commercial Vehicles; By Engine Type: Gasoline, Diesel, Alternative Fuel; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Philippines Automotive Engine Oils Market Size
The Philippines automotive engine oils market is projected to grow at a CAGR of 5.30% between 2024 and 2032.
Philippines Automotive Engine Oils Market Outlook
- As per industry reports, new vehicle sales in the Philippines witnessed an increase of 13 per cent from January to May 2024 compared to the previous car, boosting the demand for engine oils.
- ENOC Group, a global energy company, renewed its partnership with Kawasaki Motors (Philippines) Corporation in September 2023. Under this new agreement, Kawasaki can have access to ENOC Group's advanced lubricants.
- General Petroleum announced the launch of its new line of automotive lubricants in April 2024 in the Philippines. These lubricants are specifically designed to improve the performance of equipment and extend its lifespan.
Philippines Automotive Engine Oils Market Growth
The growth of the automotive sector, rising awareness among vehicle owners regarding engine efficiency and choosing eco-efficient engine oils, and the gradual shift towards implementation of synthetic oils are some of the major market drivers.
There is a noticeable shift in the country from traditional mineral oils to synthetic oils which offer improved performance, greater engine protection in difficult conditions, and longer intervals between oil changes. This transition is especially gaining popularity among owners of new vehicles or high-performance cars.
Furthermore, advancements in engine oil technology such as the development of multi-grade oils and additives that improve oil efficiency and engine protection, are influencing consumer preferences and patterns of usage in the market. For instance, unlike traditional single-grade oils, which are only suitable for specific temperature ranges, multi-grade oils can adapt to different conditions, which has made them highly popular among customers.
Philippines Automotive Engine Oils Industry Segmentation
“Philippines Automotive Engine Oils Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Mineral
- Semi-Synthetic
- Fully Synthetic
Market Breakup by Vehicle Type
- Passenger Vehicles
- Motorcycles
- Commercial Vehicles
Market Breakup by Engine Type
- Gasoline
- Diesel
- Alternative Fuel
Philippines Automotive Engine Oils Market Share
Based on engine type, the market is divided into gasoline, diesel, and alternative fuel. Gasoline holds the largest market share due to the abundance of cars, motorcycles, and scooters running on gasoline in the country which has resulted in an increased need for engine oils specifically designed for gasoline engines. Additionally, regular oil changes are necessary for gasoline engines to ensure optimal performance and longevity of vehicles, thereby creating a consistent demand for gasoline-based engine oils.
Leading Companies in the Philippines Automotive Engine Oils Market
The market players are readily developing bio-based engine oils amid the rising environmental concerns in the country.
- Shell Plc
- TotalEnergies SE
- Chevron Corp.
- BP Plc
- Eneos Holdings Inc.
- Petron Corporation
- Idemitsu Kosan Co., Ltd.
- Hinduja Group Ltd. (Gulf Oil International Ltd.)
- Udenna Corp. (Phoenix Petroleum Philippines, Inc.)
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Vehicle Type |
|
| Breakup by Engine Type |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Automotive Engine Oils Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Automotive Engine Oils Historical Market (2018-2023)
8.3 Asia Pacific Automotive Engine Oils Market Forecast (2024-2032)
9 Philippines Automotive Engine Oils Market Overview
9.1 Key Industry Highlights
9.2 Philippines Automotive Engine Oils Historical Market (2018-2023)
9.3 Philippines Automotive Engine Oils Market Forecast (2024-2032)
10 Philippines Automotive Engine Oils Market by Type
10.1 Mineral
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Semi-Synthetic
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Fully Synthetic
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 Philippines Automotive Engine Oils Market by Vehicle Type
11.1 Passenger Vehicles
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Motorcycles
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Commercial Vehicles
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
12 Philippines Automotive Engine Oils Market by Engine Type
12.1 Gasoline
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Diesel
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Alternative Fuel
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators of Demand
13.4 Key Indicators of Price
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Shell Plc
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 TotalEnergies SE
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Chevron Corp.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 BP Plc
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Eneos Holdings Inc.
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Petron Corporation
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 Idemitsu Kosan Co., Ltd.
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 Hinduja Group Ltd. (Gulf Oil International Ltd.)
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 Udenna Corp. (Phoenix Petroleum Philippines, Inc.)
14.2.9.1 Company Overview
14.2.9.2 Product Portfolio
14.2.9.3 Demographic Reach and Achievements
14.2.9.4 Certifications
14.2.10 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Automotive Engine Oils Market: Key Industry Highlights, 2018 and 2032
2. Philippines Automotive Engine Oils Market: Key Industry Highlights, 2018 and 2032
3. Philippines Automotive Engine Oils Historical Market: Breakup by Type (USD Million), 2018-2023
4. Philippines Automotive Engine Oils Market Forecast: Breakup by Type (USD Million), 2024-2032
5. Philippines Automotive Engine Oils Historical Market: Breakup by Vehicle Type (USD Million), 2018-2023
6. Philippines Automotive Engine Oils Market Forecast: Breakup by Vehicle Type (USD Million), 2024-2032
7. Philippines Automotive Engine Oils Historical Market: Breakup by Engine Type (USD Million), 2018-2023
8. Philippines Automotive Engine Oils Market Forecast: Breakup by Engine Type (USD Million), 2024-2032
9. Philippines Automotive Engine Oils Market Structure
Key Questions Answered in the Report
The market is estimated to grow at a CAGR of 5.30% between 2024 and 2032.
The market is being driven due to growth of the automotive sector, rising awareness among vehicle owners regarding engine efficiency and choosing eco-efficient engine oils, and the gradual shift towards implementation of synthetic oils.
The key trends aiding the market include a shift in the country from traditional mineral oils to synthetic oils and advancements in engine oil technology such as the development of multi-grade oils.
Based on type, market segmentations include mineral, semi-synthetic, and fully synthetic.
Different vehicle types considered in the market are passenger vehicles, motorcycles, and commercial vehicles.
Who are the key players in the Philippines automotive engine oils industry, according to the report?
The major players in the market are Shell Plc, TotalEnergies SE, Chevron Corp., BP Plc, Eneos Holdings Inc., Petron Corporation, Idemitsu Kosan Co., Ltd., Hinduja Group Ltd. (Gulf Oil International Ltd.), and Udenna Corp. (Phoenix Petroleum Philippines, Inc.), among others.
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