Automotive Engine Oil Market delivers a comprehensive study on current market trends. The outcome also includes revenue forecasts, statistics, market valuations which illustrates its growth trends and competitive landscape as well as the key players in the business.
Automotive Engine Oil Market is valued at USD 6062.57 Million in 2017 and expected to reach USD 7120.80 Million by 2024 with the CAGR of 2.32% over the forecast period. The increase in demand of automobiles in developing countries is the driving factor of Automotive Engine Oil Market.
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Automotive Engine Oil Market report published by the Brandessence Market Research and Consulting Pvt. Ltd. provides the detail information about Automotive Engine Oil market from various aspects. This report consists of drivers, challenges and opportunities which help the market to grow over the analysis period and recent trends which supports the growth of market.
Automotive Engine Oil Market Key Players
- Total Lubricants
- Royal Dutch shell plc
Automotive engine oil is a lubricant applied in internal combustion engines, which works as the protector of the engine. In engine when moving parts like piston, gears, crank shaft come in to contact with each other creates friction which waste energy in the form of heat, converted from kinetic energy. This phenomenon also wears and tear away the engine leads to failure of engine. To solve this problem the automobile industry use engine oil which consists of base oil with additives. The engine oil creates a separating film between moving parts to minimize direct contact between them, decreases heat caused by friction, and reduces wear, thus protects the engine.
There are various factors that drives the automotive engine oil factor, one of them is increase in demand of the automobiles in developing countries like China, India, Brazil, Turkey. Other factors are growth in infrastructure, increase in mobility due to rapid urbanization, mega cities, satellite towns etc., increasing disposal income, aspiration of owning a vehicle and growth in logistics sector. Due to cultures like DIY (DO It Yourself) and DIFM (Do It for Me), in which vehicle owner either repair automobiles by their own or take it to professional facility also drives this market. Synthetic engine oil is also another factor which drives the market because it meets the demands like highly efficient engine, lower traction coefficient, reduced power consumption, increased service life, reduced flammability, and reduced wear and tear.
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Automotive Engine Oil Market Segmentation
Premium Conventional engine Oil
Full Synthetic engine Oil
Synthetic Blend engine Oil
Higher Mileage engine Oil
Anti- wear agents
Pour point depressants
By Base Oil Type
With the advancement of technology in engine oil, the oil change interval for truck comes to 40,000 km and expected to increase further which decreases consumption of engine oil restricting the growth. Other restrictions are increasing supply of counterfeit oils, law and regulation on using low efficient engine oils etc. use of low viscosity lubricants and use of packaged engine oil like synthetic blend motor oil which can be easily refined are the opportunities of this market.
Table of Content
- Chapter – Report Methodology
Market Size Estimates
USP’s of Report
- Chapter – Global Automotive Engine Oil Market Overview: Qualitative Analysis
Global Automotive Engine Oil Market Classification
- Chapter – Global Automotive Engine Oil Market Overview: Quantitative Analysis
Global Automotive Engine Oil Market Revenue (USD Million), Market Share (%) and Growth Rate (%), 2014- 2024
Global Automotive Engine Oil Market Consumption (Thousand litre), Market Share (%) and Growth Rate (%), 2014- 2024
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