Brandessence Market Research has published a new report title and According to Study “Automotive Engine Oil Market is valued at USD 35.07 Billion in 2021 and expected to reach USD 43.43 Billion by 2028 with a CAGR of 3.10% over the forecast period”.
The increase in demand of automobiles in developing countries is the driving factor of Automotive Engine Oil Market.
Automotive Engine Oil Market report published by the Brandessence Market Research and Consulting Pvt. Ltd. provides the detail information about Automotive Engine Oil market from various aspects. This report consists of drivers, challenges and opportunities which help the market to grow over the analysis period and recent trends which supports the growth of market.
Automotive engine oil is a lubricant applied in internal combustion engines, which works as the protector of the engine. In engine when moving parts like piston, gears, crank shaft come in to contact with each other creates friction which waste energy in the form of heat, converted from kinetic energy. This phenomenon also wears and tear away the engine leads to failure of engine. To solve this problem the automobile industry use engine oil which consists of base oil with additives. The engine oil creates a separating film between moving parts to minimize direct contact between them, decreases heat caused by friction, and reduces wear, thus protects the engine.
Automotive Engine Oil Market Share top 9 key Vendors participants are,
Global Automotive Engine Oil market report covers prominent players like Valvoline, Wurth Triathlon, Castrol, Mobil, Total Lubricants, Shell, Sinopec, BP Plc, Exxonmobil, Royal Dutch shell plc, Shell, Fuchs, Lukoil, Agip Synthetic PC, ProCare Lubricants, Amsoil, Petronas, Pennzoil, Motul, Havoline and others.
There are various factors that drives the automotive engine oil factor, one of them is increase in demand of the automobiles in developing countries like China, India, Brazil, Turkey. Other factors are growth in infrastructure, increase in mobility due to rapid urbanization, mega cities, satellite towns etc., increasing disposal income, aspiration of owning a vehicle and growth in logistics sector. Due to cultures like DIY (DO It Yourself) and DIFM (Do It for Me), in which vehicle owner either repair automobiles by their own or take it to professional facility also drives this market. Synthetic engine oil is also another factor which drives the market because it meets the demands like highly efficient engine, lower traction coefficient, reduced power consumption, increased service life, reduced flammability, and reduced wear and tear. With the advancement of technology in engine oil, the oil change interval for truck comes to 40,000 km and expected to increase further which decreases consumption of engine oil restricting the growth. Other restrictions are increasing supply of counterfeit oils, law and regulation on using low efficient engine oils etc. use of low viscosity lubricants and use of packaged engine oil like synthetic blend motor oil which can be easily refined are the opportunities of this market.
By Base Oil Type-
The regions covered in this Automotive Engine Oil market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Mobile Mapping is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
• Rest of Europe
• South Korea
• Rest Of APAC
• Rest of South America
Middle East and Africa
• Saudi Arabia
• South Africa
• Rest Of MEA
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 35.07 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||3.10%|
|Market Size Expected in 2028:||USD 43.43 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Castrol,Total Lubricants,Shell,Valvoline,Exxonmobil,Royal Dutch shell plc,Amsoil,Lukoil,Petronas|
|Segments Covered||By Technology ,By Additives ,By Base Oil Type|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
Key Benefits of Global Automotive Engine Oil Market Report:
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