Press release
Indonesia Automotive Engine Oil Market Expected To Reach USD 720.36 Mn 2030, to grow at a CAGR of 4.70% from 2024 to 2030
Indonesia Automotive Engine Oil Market
Market Estimation, Growth Drivers, and Opportunities
The Indonesia Automotive Engine Oil Market size was valued at USD 522.30 Mn. in 2023 and the total Indonesia Automotive Engine Oil revenue is expected to grow at a CAGR of 4.70% from 2024 to 2030, reaching nearly USD 720.36 Mn. in 2030.
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Several factors contribute to this anticipated growth:
Increasing Vehicle Ownership: Rising disposable incomes and urbanization have led to higher vehicle ownership, boosting the demand for automotive engine oils.
Economic Growth: Indonesia's steady economic expansion has spurred infrastructure development and increased transportation needs, further driving the automotive sector.
Technological Advancements: The introduction of high-performance and synthetic engine oils caters to modern engines, enhancing fuel efficiency and engine longevity.
Aftermarket Services Expansion: The growth of automotive aftermarket services, including maintenance and repair shops, has increased the consumption of engine oils.
Impact of Biodiesel Initiatives
Indonesia's commitment to renewable energy is evident in its biodiesel programs. The government plans to fully implement the B40 biodiesel program, which mandates a 40% palm oil blend in diesel fuel, by March 2025.
This initiative aims to reduce dependence on imported diesel and promote sustainable energy sources.
However, higher biodiesel mandates may tighten global palm oil supplies, potentially affecting export volumes and causing shortages for global consumers. This could lead to higher palm oil prices, impacting the cost structure of biodiesel production and, subsequently, the automotive engine oil market.
Get More Information Click Here: https://www.stellarmr.com/report/Indonesia-Automotive-Engine-Oil-Market/1755
Market Segmentation with Largest Market Share
The automotive engine oil market in Indonesia can be segmented based on product type and application:
By Product Type:
Mineral Engine Oil: Traditionally dominant due to cost-effectiveness, mineral engine oils continue to hold a significant market share.
By Application:
Passenger Vehicles: This segment accounts for the largest share, driven by the increasing number of personal vehicles.
To know the most attractive segments, click here for a free sample of the report: https://www.stellarmr.com/report/req_sample/Indonesia-Automotive-Engine-Oil-Market/1755
Competitive Analysis
The Indonesian automotive engine oil market is characterized by the presence of both global and local players. Major companies operating in this market include:
BP PLC (Castrol): Renowned for its high-quality lubricants, Castrol has a strong presence in Indonesia, offering products tailored to local market needs.
ExxonMobil Corporation: Through its Mobil brand, ExxonMobil provides a range of engine oils, focusing on innovation and performance.
PT Pertamina: As a state-owned enterprise, Pertamina dominates the local market with its extensive distribution network and brand recognition.
PT Wiraswasta Gemilang Indonesia (Evalube): Evalube has established itself as a reputable local brand, offering a variety of engine oils catering to different vehicle types.
Royal Dutch Shell Plc: Shell's presence in Indonesia is marked by its commitment to quality and technological advancement in lubricant products.
These companies continually invest in research and development to introduce products that meet evolving engine requirements and environmental standards.
Regional Analysis
Indonesia's automotive engine oil market is influenced by regional dynamics, including urbanization rates, economic activities, and infrastructure development. Major urban centers like Jakarta and Surabaya exhibit higher demand due to dense vehicle populations and established automotive service industries.
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About Stellar Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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