As per this study the Global Automotive Engine Oil Market was valued USD 38.24 BN (by revenue) in 2022 and is anticipated to reach USD 53.15 BN by 2030 with a CAGR of 4.2%. By volume, the market was estimated XX Kilo Tons in 2022 and is expected to reach XX Kilo Tons by 2030 with a CAGR of XX%.
Automotive engine oil is basically a viscous lubricant that is derived from the crude oil. These oils are used to reduce friction, prevent wear in moving parts of an engine and increase its life cycle. Engine oils with different grades such as mineral, semi-synthetic, and fully synthetic are widely used in different types of vehicles like passenger cars, light commercial vehicles, heavy-duty vehicles, and motorcycles.
Market Dynamics
The increasing adoption of automotive vehicles across the globe along with rising demand and manufacturing of vehicles is fueling the automotive engine oil market growth. Additionally, the increasing adoption of high-performance lubricants like fully synthetic oils is further propelling the market demand. On the flip side, volatile price of crude oil, and the modest impact of electric vehicles is likely to impede market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of automotive engine oil.
Market Segmentation
The broad automotive engine oil market has been sub-grouped into grade, type and vehicle type. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Grade
- Mineral
- Semi-Synthetic
- Fully-synthetic
By Engine Type
- Gasoline
- Diesel
- Alternative Fuels
By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Heavy-Duty Vehicles
- Motorcycle
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for automotive engine oil in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Automotive Engine Oil Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the Automotive Engine Oil market include Valvoline, Wurth Group, Castrol, ExxonMobil, Eni GmbH, Amsoil Inc., Petronas, Fuchs Petrolub, Sinopec Lubricant Company, Lotos, Motul. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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