$21.6bn
$X.Xbn
12,754
209
$X.Xbn
Motor oil manufacturers have faced a rollercoaster of challenges and recoveries in recent years. COVID-19 dramatically curtailed car usage, as travel restrictions and work-from-home arrangements reduced the need for oil changes. Although manufacturers rebounded when the economy reopened in 2021, it hasn't entirely recovered from the pandemic's initial impact. Continued hybrid work schedules have notably hampered the return to pre-pandemic levels. Higher oil prices have discouraged driving, although some consumers avoided public transportation to curb virus exposure, slightly mitigating the downturn in car usage. Revenue has been decreasing at a CAGR of 0.6% over the past five years to total an estimated $21.6 billion in 2024, including an estimated increase of 1.7% in 2024.
Industry revenue has declined at a CAGR of 0.6 % over the past five years, to reach an estimated $21.6bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Exxon Mobil Corporation | 3,842.7 | 215.5 | 5.6 | |
Bp Plc | 3,554.3 | 203.5 | 5.7 | |
Royal Dutch Shell Plc | 3,160.8 | 185.9 | 5.9 |
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Industry revenue is measured across several distinct product and services lines, including Synthetic motor oils, Conventional motor greases and Other. Synthetic motor oils is the largest segment of the Motor Oil Manufacturing in the US.
Conventional motor oils are the largest product segment
Operators in this industry primarily engage in blending or compounding refined petroleum to make lubricating blended motor oils and greases and/or re-refining used petroleum lubricating oils. Motor oil functions to separate and lubricate moving parts, reduce engine wear, cool engine parts and enhance engine fuel economy. Synthetic lubricants made from chemical products are mainly produced in the Chemical Product Manufacturing industry (IBISWorld report 32599).
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NAICS 32419 - Motor Oil Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Motor oil manufacturers are still struggling to recover post-pandemic. Older cars and fewer new car sales have been a silver lining for motor oil manufacturers.
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Motor oil manufacturers face strict environmental and noise regulations. These include the Clear Water Act, Resource Conservation and Recovery Act, Clean Air Act, the Cluster...
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Including values and annual change:
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Key data sources in the US include:
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The market size of the Motor Oil Manufacturing in the US industry in United States is $21.6bn in 2024.
There are 209 businesses in the Motor Oil Manufacturing in the US industry in United States, which has declined at a CAGR of 2.7 % between 2019 and 2024.
The market size of the Motor Oil Manufacturing in the US industry in United States has been declining at a CAGR of 0.6 % between 2019 and 2024.
Over the next five years, the Motor Oil Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Motor Oil Manufacturing market in United States are Exxon Mobil Corporation, Bp Plc and Royal Dutch Shell Plc
Manufacturing lubricating oils and greases made from refined petroleum and Manufacturing brake fluids made from refined petroleum are part of the Motor Oil Manufacturing in the US industry.
The company holding the most market share in United States is Exxon Mobil Corporation.
The level of competition is moderate and steady in the Motor Oil Manufacturing in the US industry in United States.