Global Automotive Engine Oil Market Outlook, Opportunities And Strategies – Includes Automotive Engine Oil Market Size
Learn about the global automotive engine oil market through The Business Research Company, which provides information on automotive engine oil market size, automotive engine oil market drivers and restraints, automotive engine oil market players, the COVID-19 impact on the automotive engine oil market, and more.
The global automotive engine oil market size is expected to grow from $38.57 billion in 2021 to $41.07 billion in 2022 at a compound annual growth rate (CAGR) of 6.5%. The global automotive engine oils market size is expected to reach $47.79 billion in 2026 at a CAGR of 3.9%.
The increasing demand for carrier vehicles from small and medium scale enterprises is significantly driving the growth of the automotive engine oil market.
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The automotive engine oil market consists of the sale of automotive engine oil by entities (organizations, partnerships, and sole proprietors) that are used to reduce friction between the engine parts and cool down the automotive engine. Automotive engine oil is a type of oil used to lubricate the engine and other internal engine parts of a vehicle. For an engine to run smoothly throughout time, automotive engine oil performs a variety of functions such as lubrication, cleaning, cooling, and so on.
Global automotive engine oil market segments include:
By Grade: Mineral, Synthetic, Semi-Synthetic
By Engine: Gasoline, Diesel, Alternative Fuel
By Technology: Premium Conventional Engine Oil, Full Synthetic Engine Oil, Synthetic Blend Engine Oil, Higher Mileage Engine Oil
By Application: Passenger Vehicles, LCV, HCV, Two-Wheelers, Others
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific was the largest region in the automotive engine oil market in 2021.
Advancements in technology have emerged as the key trend gaining popularity in the automotive engine oil market. Major companies operating in the automotive engine oil sector are focused on bringing advancements in synthetic oil technology to meet consumer demand.
Major Market Players: Exxon Mobil Corporation, Valvoline Inc., Fuchs Petrolub SE, Castrol, Shell Plc, Chevron Corporation, BP Plc, TotalEnergies SE, Sinopec Group, MOTUL SA, Petroliam Nasional Berhad, Pentagon Lubricants, Eni S.p.A., Hinduja Group, and Saudi Aramco.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Automotive Engine Oil Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides automotive engine oil market overviews, analyzes and forecasts market size, share, automotive engine oil market players, automotive engine oil market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s automotive engine oil market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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