Pune, India, March 03, 2022 (GLOBE NEWSWIRE) -- The global automotive engine oil market is set to gain momentum from the increasing demand for lower viscosity motor oil as they are capable of enhancing the fuel economy. Many OEMs have also begun recommending these types of oils to enhance performance. Fortune Business Insights™ provided this information in a recent report, titled, “Automotive Engine Oil Market Size, Share & Industry Analysis, By Grade (Mineral, Synthetic and Semi-synthetic), By Engine Type (Diesel, Petrol, Alternative Fuel), By Application Area (Passenger Vehicle, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV), Two-Wheeler, and Other), and Regional Forecast, 2019-2026.” The report further states that the automotive engine oil market size was USD 36.49 billion in 2018 and is projected to reach USD 45.66 billion by 2026, exhibiting a CAGR of 2.88% during the forecast period.
Get a Sample PDF Brochure:
Highlights of This Report:
- Market strategies and shares of key companies.
- A complete backdrop analysis consisting of an assessment of the parents market.
- Emerging regional market and niche segments.
- Evaluation and reporting of the latest industry developments.
- Significant changes in market dynamics.
- Insights of the automotive engine oil market trends and opportunities.
Drivers & Restraints-
Upsurging Demand for Synthetic Automotive Engine Oil to Boost Growth
The market is anticipated to be affected positively owing to the increasing demand for synthetic automotive engine oil. It is mainly considered to be a replacement for mineral based engine oil. This type of oil is experiencing high demand from the developed regions, such as Europe and North America. It consists of chemically similar properties that of mineral based oil. Synthetic engine oil is capable of extending oil change intervals, decreases oil consumption, and enhances fuel economy. It is also less likely to oxidize, is not volatile, and is resistant to temperature change. However, increasing sustainability issues for the companies to exist in the highly competitive market may hamper the automotive engine oil market growth during the forthcoming period.
Market Segments:
On the basis of type, the market is branched into:
- Alternative Fuels
- Petrol
- Diesel
In terms of Application Area, the market is segmented into:
- Passenger
- Vehicles
- LCV
- HCV
- Two-Wheeler
Based on the Grade, the market is divided into:
- Mineral
- Synthetic
- Semi-synthetic
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/toc/automotive-engine-oil-market-102715
Fortune Business Insights™ lists out the names of all the organizations present in the automotive engine oil market. They are as follows:
- ExxonMobil Corporation
- Valvoline, Inc.
- Fuchs Petrolub SE
- Castrol
- Royal Dutch Shell plc
- RelaDyne
- Pentagon Lubricants Private Limited
- HINDUJA GROUP
- Chevron Corporation
- Total S.A.
- Other players
Regional Analysis-
Rising Number of Vehicles to Favor Growth in Asia Pacific
The market is geographically classified into Europe, the Middle East and Africa, North America, Asia Pacific, and South America. Amongst these, Asia Pacific generated USD 12.41 billion in 2018 in terms of the market revenue. It is considered to be one of the fastest-growing and largest regions in the market because of the rising number of vehicles present in countries, such as Thailand, India, and China. China and India are projected to have the maximum number of vehicles on road. India is also considered to be the largest market for two wheelers. North America, on the other hand, would exhibit considerable growth backed by the increasing government support to promote the usage of energy-efficient oil. In Europe, the governments of various countries are implementing stringent rules to use environment-friendly oils.
Competitive Landscape-
Key Players Engage in Mergers & Acquisitions to Gain Competitive Edge
The market consists of several small, medium, and large scale companies that are presently adopting the strategy of mergers and acquisitions with other reputed enterprises to enhance their product offerings and other associated services. Below are a couple of the key industry developments:
- September 2019: RelaDyne joined hands with Circle Lubricants to broaden its geographic presence in the Northeast. It would also help the company in delivering its automotive and lubricant products throughout New Jersey, New York, and its surrounding areas.
- September 2019: Saudi Aramco completed the acquisition of 50% interest of Shell Saudi Arabia Limited in the SASREF joint venture. It would help the former in upsurging the capacity and complexity of its refineries.
Inquire Before Buying This Research Report:
https://www.fortunebusinessinsights.com/enquiry/queries/automotive-engine-oil-market-102715
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Global Automotive Engine Oil Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Grade
- Mineral
- Synthetic
- Semi-Synthetic
- Market Analysis, Insights and Forecast – By Engine Type
- Diesel
- Petrol
- Alternative Fuel
- Market Analysis, Insights and Forecast – By Application
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Two Wheelers
- Others
TOC Continued…!
Speak to Our Expert:
https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/automotive-engine-oil-market-102715
Read Related Insights:
Lubricants Market Size, Share & COVID-19 Impact Analysis, By Type (Automotive Oils, Industrial Oils, Marine Oil and Process Oils), By Grade (Mineral, Synthetic and Semi-synthetic), By Application (Automotive, Industrial and Others), and Regional Forecast, 2021-2028.
Automotive Lubricants Market Size, Share & Industry Analysis, By Oil Type (Synthetic, Semi-synthetic, and Conventional or Mineral), By Product Type (Engine Oil, Gear Oil, Transmission Fluids, Coolant, and Brake Fluid & Greases), and Regional Forecast, 2019-2026.
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower,
Baner - Mahalunge Road, Baner,
Pune-411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Connect us via Social Media Channels:
LinkedIn Facebook Twitter Blogs
