The engine is the chief component of a vehicle, and engine oils serve to be its companion in smooth and effective working. Engine oil is used as a lubricant to avoid friction on the moving parts and to clean the sludge from the engine. Engine oils also help in neutralizing acids originating from fuels. The leading key players are striving for improvements in the quality of engine oil due to the rising demand and production of automobiles and the growing upsurge of passenger cars all around the globe.
MARKET DYNAMICS
The engine oil market is projected to grow in the forecast period keeping in mind the developments in the quality of engine oil coupled with the rising production and sales of the automobile industry. The increasing implementation of high-performance lubricants has boosted the growth of the engine oil market. However, the introduction of electric vehicles might restrict the growth of the engine oil market. On the other hand, technological advances to improve the properties of engine and engine oil are likely to showcase growth opportunities for the engine oil market during the forecast period.
MARKET SCOPE
The "Global 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 engine oil market with detailed market segmentation by type, additives, end-user industry, and geography. The global 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 engine oil market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global engine oil market is segmented on the basis of type, additives, and end-user industry. Based on type, the market is segmented as premium conventional oil, synthetic blend engine oil, fully synthetic engine oil, and higher mileage engine oil. On the basis of additives, the market is segmented as dispersants, anti-oxidants, pour point depressants, form inhibitors, and others. On the basis of end-use industry, the market is segmented as power generation, automotive and other transportation, heavy equipment, metallurgy and metalworking, chemical manufacturing, and other end-user industry.
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 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 & Central America. The 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 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 & Central America after evaluating political, economic, social and technological factors affecting the engine oil market in these regions.
MARKET PLAYERS
The reports cover key developments in the 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 the way for the expansion of business and customer base of market players. The market payers from engine oil market are anticipated to lucrative growth opportunities in the future with the rising demand for engine oil in the global market. Below mentioned is the list of few companies engaged in the engine oil market.
The report also includes the profiles of key engine oil companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.
- Amsoil Inc.
- Arabol Lubricants
- BP PLC
- Chevron Corporation
- China Petrochemical Corp
- ExxonMobil Corporation
- Lukoil Company
- Royal Dutch Shell
- Sinolec Lubricant Company
- Total SA