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Vietnam 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; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Vietnam Automotive Engine Oils Market Size
The Vietnam automotive engine oils market is projected to grow at a CAGR of 6.90% between 2024 and 2032.
Vietnam Automotive Engine Oils Market Outlook
- As per the industry reports, the total vehicle sales in Vietnam witnessed a growth of 2 per cent in April 2024 compared to the previous year, fuelling the growth of engine oils.
- In Vietnam, there was a sale of around 404,294 vehicles in 2023, which maintained a steady demand for engine oils.
- The emergence of low-viscosity oils due to their ability to reduce friction and enhance fuel efficiency is one of the crucial market trends.
Vietnam Automotive Engine Oils Market Growth
Growing vehicle ownership in Vietnam, expansion of the automotive sector and its production capacities in the country, and innovations in engine oil technology are some of the crucial market trends. The market is driven by advancements in engine oil technology, which include the development of synthetic and semi-synthetic oils. These innovations offer improved engine protection, efficiency, and performance, meeting the demands of consumers who seek high-end products for their vehicles.
Manufacturers are placing a greater emphasis on the production of eco-friendly engine oils as they are designed to minimise emissions and adhere to strict environmental laws and regulations, meeting the rising demand for sustainability in the automotive sector. Moreover, the adoption of advanced technologies in vehicles necessitates high-performance engine oils that can meet specific performance criteria and enhance the efficiency of engines.
Vietnam Automotive Engine Oils Industry Segmentation
“Vietnam 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
Market Breakup by Region
- Southeast
- Red River Delta
- Mekong River Delta
- South Central Coast
- Others
Vietnam Automotive Engine Oils Market Share
Based on vehicle type, the market is divided into passenger vehicles, motorcycles, and commercial vehicles. Passenger vehicles account for a major market share due to rapid urbanisation in Vietnam which has resulted in an increase in car ownership. Moreover, government funding for better road infrastructure and urban development is making car ownership more feasible and appealing among customers as better roads and transportation systems enable the smoother driving of passenger vehicles.
Leading Companies in the Vietnam Automotive Engine Oils Market
The market participants are developing advanced engine oils to gain a competitive edge in the market.
- Shell Plc
- TotalEnergies SE
- Exxon Mobil Corp.
- Motul S.A.
- Chevron Corp.
- BP Plc
- Petrolimex Petrochemical Corporation
- Ap Saigon Petro JSC
- Mekong Petrochemical JSC
- Phuc Thanh Trading & Manufacturing Co. (Nikko Lubricant Vietnam)
- 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 |
|
| Breakup by Region |
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| 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 Vietnam Automotive Engine Oils Market Overview
9.1 Key Industry Highlights
9.2 Vietnam Automotive Engine Oils Historical Market (2018-2023)
9.3 Vietnam Automotive Engine Oils Market Forecast (2024-2032)
10 Vietnam 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 Vietnam 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 Vietnam 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 Vietnam Automotive Engine Oils Market by Region
13.1 Southeast
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Red River Delta
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Mekong River Delta
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Central Coast
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators of Demand
14.4 Key Indicators of Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Shell Plc
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 TotalEnergies SE
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Exxon Mobil Corp.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Motul S.A.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Chevron Corp.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 BP Plc
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Petrolimex Petrochemical Corporation
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Ap Saigon Petro JSC
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Mekong Petrochemical JSC
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Phuc Thanh Trading & Manufacturing Co. (Nikko Lubricant Vietnam)
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 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. Vietnam Automotive Engine Oils Market: Key Industry Highlights, 2018 and 2032
3. Vietnam Automotive Engine Oils Historical Market: Breakup by Type (USD Million), 2018-2023
4. Vietnam Automotive Engine Oils Market Forecast: Breakup by Type (USD Million), 2024-2032
5. Vietnam Automotive Engine Oils Historical Market: Breakup by Vehicle Type (USD Million), 2018-2023
6. Vietnam Automotive Engine Oils Market Forecast: Breakup by Vehicle Type (USD Million), 2024-2032
7. Vietnam Automotive Engine Oils Historical Market: Breakup by Engine Type (USD Million), 2018-2023
8. Vietnam Automotive Engine Oils Market Forecast: Breakup by Engine Type (USD Million), 2024-2032
9. Vietnam Automotive Engine Oils Historical Market: Breakup by Region (USD Million), 2018-2023
10. Vietnam Automotive Engine Oils Market Forecast: Breakup by Region (USD Million), 2024-2032
11. Vietnam Automotive Engine Oils Market Structure
Key Questions Answered in the Report
The market is estimated to grow at a CAGR of 6.90% between 2024 and 2032.
The market is being driven due to growing vehicle ownership in Vietnam, expansion of the automotive sector and its production capacities in the country, and innovations in engine oil technology.
The key trends aiding the market include greater emphasis on the production of eco-friendly engine oils and the adoption of advanced technologies in vehicles which necessitates high-performance engine oils.
Regions considered in the market are Southeast, Red River Delta, Mekong River Delta, and South Central Coast, among others.
Based on type, market segmentations include mineral, semi-synthetic, and fully synthetic.
Different engine types are gasoline, diesel, and alternative fuel.
The major players in the market are Shell Plc, TotalEnergies SE, Exxon Mobil Corp., Motul S.A, Chevron Corp., BP Plc, Petrolimex Petrochemical Corporation, Ap Saigon Petro JSC, Mekong Petrochemical JSC, and Phuc Thanh Trading & Manufacturing Co. (Nikko Lubricant Vietnam), among others.
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