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Automotive Engine Oil Market - Current Impact to Make Big Changes During Forecast Period 2021-2027

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Arshad Shaha
Automotive Engine Oil Market - Current Impact to Make Big Changes During Forecast Period 2021-2027

Automotive Engine Oil Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2018-2024 – Increasing demand for automobiles in developing countries is the driving factor of automotive engine oil market.    

Key Players for Global Automotive Engine Oil Market Reports–

Global Automotive Engine Oil market report covers prominent players like Valvoline, Wurth Triathlon, Castrol, Mobil, Total Lubricants, Shell, Sinopec, BP Plc, Exxonmobil, Royal Dutch shell plc, Shell, Fuchs, Lukoil, Agip Synthetic PC, ProCare Lubricants, Amsoil, Petronas, Pennzoil, Motul, Havoline and others.  

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.

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Automotive engine oil is an engine lubricant which is a mix of base oils enhanced with additives like anti wear additives, detergents, dispersants, corrosion and oxidation inhibitors.

The moving parts of engine when comes in to contact with each other creates friction and waste useful power by converting kinetic energy in to heat. The friction also wears away the engine parts which leads to lower efficiency and degradation of engine. This increases fuel consumption, decreases power output and in worst cases seizing of engine.

To tackle the problem engine oil is used which reduces friction and wear on moving parts. It also cleans the engine from sludge, neutralizes acid created from oil and lubricant and cools the engine. It is also called protector of engine.

The automotive engine oil market is divided in to four types on the basis of technology, which are premium conventional engine oil (used in two, three wheelers and small cars), fully synthetic engine oil (used for high-tech cars), synthetic blend engine oil (used for SUVs and heavy-duty vehicles) and highest mileage engine oil (used to reduce viscosity loss). On the basis of additive use the market is segmented in to dispersants, friction modifiers, anti-wear agents, pour point depressants, foam inhibitors and antioxidants. On the basis of base oil type the market is classified in to synthetic type, part synthetic and mineral type.

Increasing Demand of Automobiles in Developing Countries is the Driving Factor of Automotive Engine oil Market.

Synthetic engine oil is tailor-made and chemically synthesized to meet the modern demand for highly efficient engines, lower traction coefficient, reduced power consumption, increased service life, reduced flammability, and reduced wear and tear. Due to the above advantages, its demand is growing among automobile industries as well as consumers who want to have tailor-made luxury cars, which in turn drives the automotive engine oil market. Other factors driving the market are increasing mobility on account of urbanization, megacities, increasing disposal income, growing aspiration of possessing a vehicle, and growing demand for logistics.

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Automotive Engine Oil Market Segmentation

By Technology

Premium Conventional engine Oil, Full Synthetic engineOil, Synthetic Blend engineOil, Higher Mileage engineOil

By Additives

Dispersants, Friction modifiers, Anti- wearagents, Pour point depressants, Foam inhibitors, Anti-oxidants

By Base Oil Type

Synthetic, Mineral

By Region

North America

  • Canada

Europe

  • UK
  • France
  • Germany
  • Italy

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia

Latin America

  • Brazil
  • Mexico

MiddleEast and Africa

  • GCC
  • Africa
  • Rest of the MiddleEast and Africa

About us:Brandessence Market Research and Consulting Pvt. ltd.

Brandessence market research publishes market research reports & business insights produced by highly qualified and experienced industry analysts. Our research reports are available in a wide range of industry verticals including aviation, food & beverage, healthcare, ICT, Construction, Chemicals and lot more. Brand Essence Market Research report will be best fit for senior executives, business development managers, marketing managers, consultants, CEOs, CIOs, COOs, and Directors, governments, agencies, organizations and Ph.D. Students. We have a delivery center in Pune, India and our sales office is in London.

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