Automotive engine oils are used for the lubrication of internal combustion engines. The main function of automotive engine oil is to reduce friction and wear on moving parts and to clean the engine from sludge and varnish. It also neutralizes acids that originate from fuel and from the oxidation of the lubricant, improves sealing of piston rings, and cools the engine by carrying heat away from moving parts.
MARKET DYNAMICS
The automotive engine oil market has witnessed significant growth owing to the increasing production of automobiles and increase demand for goods carriers from small and medium-sized enterprises. Moreover, Growing middle class, rising disposable income, and developing surface transportation infrastructure provides a significant opportunity for the key players operating in the automotive engine oil market over the forecast period. However, the rising preference of society for electric vehicles is projected to hamper the overall growth of the automotive engine oil market.
MARKET SCOPE
The "Global Automotive Engine Oil Market Analysis to 2028" is a specialized and in-depth study of the Chemicals and Materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the automotive engine oil market with detailed market segmentation by grade, type, vehicle type and geography. The global automotive engine oil market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading automotive engine oil market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global automotive engine oil market is segmented on the basis of grade, type and vehicle type. On the basis of grade, the automotive engine oil market is segmented into mineral, semi-synthetic, and fully-synthetic. On the basis of type, the automotive engine oil market is segmented into gasoline, diesel, and alternative fuel. Based on vehicle type the global automotive engine oil market is divided into passenger cars, light commercial vehicles, heavy duty vehicles, and motorcycles. The heavy duty vehicles segment is further bifurcated into, on-highway vehicle and off-highway vehicle.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global automotive engine oil market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The automotive engine oil market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the automotive engine oil market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive engine oil market in these regions.
MARKET PLAYERS
The reports cover key developments in the automotive engine oil market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from automotive engine oil market are anticipated to lucrative growth opportunities in the future with the rising demand for automotive engine oil in the global market. Below mentioned is the list of few companies engaged in the automotive engine oil market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the automotive engine oil market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Castrol
- ENI GmbH
- ExxonMobil Corp
- Fuchs Petrolub SE
- JIANGSU LOPAL TECH. CO.,LTD.
- LUKOIL oil company
- Petroliam Nasional Berhad (PETRONAS)
- Royal Dutch Shell PLC
- Sinopec Petroleum & Chemical Corp
- Valvoline, Inc
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