The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The Business Research Company’s Automotive Engine Oil Global Market Report 2024 offers crucial insights into the automotive engine oil market help businesses analyse and build stronger strategies.

The automotive engine oil market has experienced robust growth in recent years, driven by factors such as increased car ownership, expansion of the automotive industry, and growing urbanization. As the market continues to evolve, fueled by technological advancements and shifting consumer preferences, it is poised for significant expansion in the foreseeable future.

Historic Growth and Market Outlook

• The market size surged from $41.47 billion in 2023 to $43.81 billion in 2024, with a CAGR of 5.6%.
• Factors such as increased car ownership and growing urbanization have contributed to historic growth trends.
• Projections indicate further growth, with the market expected to reach $54.12 billion by 2028, boasting a CAGR of 5.4%.

SMEs’ Demand for Carrier Vehicles Driving Market Growth

• Small and medium-scale enterprises (SMEs) are fueling demand for carrier vehicles, thereby stimulating growth in the automotive engine oil market.
• The production of lightweight commercial vehicles, commonly used as carrier vehicles, has witnessed a global uptick.
• The rise in production translates to increased demand for automotive engine oil, accentuating market growth dynamics.

Advancements in Technology Propel Market Expansion

• Technological advancements play a pivotal role in shaping the automotive engine oil market landscape.
• Companies are focusing on developing energy-efficient engine oils to meet evolving consumer demands.
• Uno Minda’s launch of BS VI-compliant automotive engine oils underscores the industry’s commitment to innovation and sustainability.

Strategic Acquisition Amplifies Market Presence

• AMSOIL INC.’s acquisition of Benz Oil signifies strategic consolidation within the automotive engine oil market.
• The acquisition strengthens AMSOIL’s industrial business unit while expanding its product portfolio and market reach.
• Such strategic maneuvers reflect the dynamic nature of the market and the pursuit of sustained growth.

Market Segmentation and Technological Trends

• The market is segmented based on grade, engine type, technology, and application, reflecting its diverse landscape.
• Grades include mineral, synthetic, and semi-synthetic engine oils catering to different vehicle requirements.
• Technology-wise, premium conventional engine oil, full synthetic engine oil, and synthetic blend engine oil dominate the market, meeting various performance needs.

Regional Dynamics and Asia-Pacific Dominance

• Asia-Pacific emerged as the largest region in the automotive engine oil market in 2023, fueled by rapid industrialization and rising vehicle ownership.
• The region’s burgeoning automotive sector, coupled with stringent emission standards, propels market growth.
• As Asia-Pacific continues to witness economic expansion, it remains a key market segment driving global demand for automotive engine oil.

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Read The Full Automotive Engine Oil Market Report Here:
https://www.thebusinessresearchcompany.com/report/automotive-engine-oil-global-market-report

The Automotive Engine Oil Global Market Report 2024  provides a comprehensive outlook of the automotive engine oil market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The automotive engine oil market forecast offers a thorough analysis on automotive engine oil market size, automotive engine oil market share, prominent players and their strategies.

The Table Of Content For The Automotive Engine Oil Market Include:

1. Automotive Engine Oil Market Executive Summary
2. Automotive Engine Oil Market Segments
3. Automotive Engine Oil Market Size And Automotive Engine Oil Market Growth Rate
4. Key Automotive Engine Oil Market Trends
5. Major Automotive Engine Oil Market Drivers
……
25. Key Mergers And Acquisitions In The Automotive Engine Oil Market
26. Top Automotive Engine Oil Companies
27. Automotive Engine Oil Market Opportunities And Strategies
28. Automotive Engine Oil Market, Conclusions And Recommendations
29. Appendix

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