Global Automotive Engine Oil Market (2017-2024)- Research Nester
Global Automotive Engine Oil Market side,demand,Industry Analysis & Market Size and Forecast
Global Automotive Engine Oil Market side,demand,Industry Analysis & Market Size and Forecast
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<strong>Global</strong> <strong>Automotive</strong> <strong>Engine</strong> <strong>Oil</strong> <strong>Market</strong> Outlook:<br />
Industry Insights & Opportunity Evaluation,<br />
<strong>2017</strong>-<strong>2024</strong><br />
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<strong>Global</strong> <strong>Automotive</strong> <strong>Engine</strong> <strong>Oil</strong> <strong>Market</strong><br />
Overview<br />
<strong>Automotive</strong> engine oil refers to the lubricant which is used to oil the<br />
internal parts of an internal combustion engine. <strong>Automotive</strong> engine oil<br />
is made up of organic compounds, hydrocarbons and polyinternal<br />
olefins. These oils are enriched with certain additives such as engine<br />
stability additives and extreme pressure additives which boosts the<br />
performance of the engine. <strong>Automotive</strong> engine oil is used to prevent<br />
the engine seizure as engine oils reduce the wear on the moving parts<br />
such as piston and crankshaft and removes heat generated from<br />
engine. The market share of automotive engine oils has continuously<br />
been rising due to the increased usage and demand for automobiles.<br />
Apart from preventing engine failure, the automotive engine oil<br />
performs various other functions such as reducing engine noise,<br />
reducing friction and dissipation of heat from the engine. The<br />
continuous use of automotive engine oil increases the life of an<br />
automotive engine.<br />
<strong>Automotive</strong> engine oil has several properties such as high boiling point<br />
and low freezing point. This helps the automotive engine oil to stay in<br />
its liquid state while operating at different range of temperatures.<br />
Further, these oils do have a property of corrosive prevention which<br />
prevents the internal parts of engine from getting corroded. Further,<br />
automotive engine oils takes away suspended particles to the oil filter<br />
and helps to increase the efficiency of the engine. Moreover, the<br />
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increasing trend of owning a vehicle provides a major opportunity of<br />
the growth for the automotive engine oil market.<br />
<strong>Market</strong> Size and Forecast<br />
The market of automotive engine oil is anticipated to grow at<br />
compound annual growth rate (CAGR) of 5.32 % over the forecast<br />
period <strong>2017</strong>-<strong>2024</strong>. This can be attributed to various factors such as<br />
increasing number of automobiles on road, burgeoning middle class<br />
and rapid pace of urbanization.<br />
Regionally, Asia-Pacific accounted for the highest market percentage<br />
share of automotive engine oils in 2016. Further, it is anticipated to<br />
witness significant growth over the forecast period owing to the<br />
increasing demand and sales of automobiles. Moreover, increasing<br />
awareness level among consumers about the engine oil is propelling<br />
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the automotive engine oil market growth. China accounts for the<br />
highest market share of the automotive engine oil in the Asia-Pacific<br />
region.<br />
North America is also envisioned to bolster the global automotive<br />
engine oil market owing to the rising disposable income. Further,<br />
availability of base oils is anticipated to grow the market size of Middle<br />
East and Africa in the next few years.<br />
<strong>Market</strong> Segmentation<br />
Our-in depth analysis of the global automotive engine oil market<br />
includes the following segments:<br />
<br />
<br />
<br />
<br />
By Technology<br />
Premium Conventional engine <strong>Oil</strong><br />
Full Synthetic engine <strong>Oil</strong><br />
Synthetic Blend engine <strong>Oil</strong><br />
Higher Mileage engine <strong>Oil</strong><br />
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<br />
<br />
<br />
<br />
By Additives<br />
Dispersants<br />
Friction modifiers<br />
Anti- wear agents<br />
Pour point depressants<br />
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Foam inhibitors<br />
Anti-oxidants<br />
<br />
<br />
By Distribution Channels<br />
Original Equipment Manufacturer (OEM)<br />
Aftermarket<br />
<br />
By Region<br />
North America (U.S. & Canada) <strong>Market</strong> size, Y-O-Y growth &<br />
Opportunity Analysis<br />
Latin America (Brazil, Mexico, Rest of Latin America) <strong>Market</strong> size, Y-<br />
O-Y growth & Opportunity Analysis<br />
<br />
<br />
<br />
Western and Eastern Europe (U.K., Germany, France, Italy, Spain,<br />
Hungary, Belgium, Netherlands & Luxembourg, Rest of Western<br />
Europe) <strong>Market</strong> size, Y-O-Y growth & Opportunity Analysis<br />
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand,<br />
South Korea & Rest of Asia) <strong>Market</strong> size, Y-O-Y growth & Opportunity<br />
Analysis.<br />
Middle East and Africa (China, India, Japan, Singapore, Australia,<br />
New Zealand, Rest of Asia) <strong>Market</strong> size, Y-O-Y growth & Opportunity<br />
Analysis<br />
Growth Drivers and Challenges<br />
The growth of the global automotive engine oil market is primarily<br />
driven by the increased sales and demand for automobiles on the road.<br />
The rapid pace of urbanization has led to the growth of global<br />
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automotive engine oil. Moreover, burgeoning middle class population<br />
and increasing consumer awareness about the engine oil benefits are<br />
anticipated to be the dynamic factor behind the rapid growth of global<br />
automotive engine oil market. Further, change of consumer preference<br />
from conventional to synthetic engine oil is another factor which is<br />
anticipated to drive the global market.<br />
However, rising supply of counterfeit engine oil product is believed to<br />
dampen the growth of global automotive engine oil market. Moreover,<br />
government regulations regarding the emission are anticipated to<br />
restraint the growth of automotive engine oil market. Nowadays,<br />
consumer wants to go for environment friendly products and lack of<br />
environment friendly engine oils that may dampen the growth of<br />
engine oil market.<br />
<br />
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Key Players<br />
Total S.A<br />
Company Overview<br />
Key Product Offerings<br />
Business Strategy<br />
SWOT Analysis<br />
Financials<br />
Saudi Arabian <strong>Oil</strong> Co.<br />
LUKOIL <strong>Oil</strong> Company<br />
Royal Dutch Shell plc<br />
Exxon Mobil Corporation<br />
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Castrol Limited<br />
Chevron Corporation<br />
Amsoil Inc.<br />
Statoil<br />
Sinopec Lubricant Company<br />
Scope and Context<br />
Overview of the Parent <strong>Market</strong><br />
Analyst View<br />
Segmentation<br />
<br />
<br />
<br />
<br />
The global automotive engine oil market is segmented as<br />
follows:<br />
By Technology Size & Y-O-Y Growth Analysis<br />
By Additives Size & Y-O-Y Growth Analysis<br />
By Distribution Channel Size & Y-O-Y Growth Analysis<br />
By Region <strong>Market</strong> Size & Y-O-Y Growth Analysis<br />
<strong>Market</strong> Dynamics<br />
Supply & Demand Risk<br />
Competitive Landscape<br />
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Porter’s Five Force Model<br />
Geographical Economic Activity<br />
Key Players (respective SWOT Analysis) and their Strategies and<br />
Product Portfolio<br />
Recent Trends and Developments<br />
Industry Growth Drivers and Challenges<br />
Key Information for Players to establish themselves in current<br />
dynamic environment<br />
To know more about <strong>Automotive</strong> <strong>Engine</strong> <strong>Oil</strong><br />
<strong>Market</strong> research, please visit:<br />
http://www.researchnester.com/reports/automotive-engine-oil-marketglobal-demand-analysis-opportunity-outlook-<strong>2024</strong>/288<br />
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