Global Automotive Engine Oil Market : Industry Analysis and Forecast (2019-2026) – by Technology, Additives, Distribution channel, Base oil type and Region.
Global Automotive Engine Oil Market is expected to reach US$ XX Bn by 2026 from US$ 19.47 Bn in 2019 at CAGR of XX%.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The major driving factor of the market is increasing use of synthetic engine oil. Automotive engine oil has various properties such as high boiling point and low freezing point. This assists the automotive engine oil to stay in its liquid state while operating at a different range of temperatures. Additional, these oils have a property of corrosive prevention which prevents the internal parts of an engine from getting corroded.
Further, automotive engine oils take away suspended particles to the oil filter and aids to increase the efficiency of the engine. Also, the increasing trend of owning a vehicle provides a major opportunity for the growth of the automotive engine oil market. The major factors restraining the growth of the automotive engine oil market include a volatile price of raw materials and growth in the electric vehicles market.
Global automotive engine oil market is segmented by technology, additives, distribution channel, base oil type and region. Technology is segregated into premium conventional engine oil, fully synthetic engine oil, synthetic blend engine oil and higher mileage engine oil. Additives are divided by dispersants, friction modifiers, anti-wear agents, pour point depressants, foam inhibitors and anti-oxidants. A distribution channel is classified into OEM and aftermarket. Base oil type is split into synthetic and mineral. Region-wise divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Based on the distribution channel, the aftermarket is dominating the automotive engine oil market. Increasing disposable income, government legislation for automotive engine oil, growing automotive aftermarket and increase in demand within an automotive market are driving the growth of the automotive engine oil market. Growing vehicle sales and its production in developing countries are an opportunity in the market.
On the basis of technology, premium conventional engine oil which is used in two or three wheelers and small cars. The driver of premium conventional engine oil is thanks to the extreme cleanliness and consistency of the molecular structure achieved in the processing. Conventional base oils are usually only lightly refined, with not all of the inherent impurities removed from the petroleum. Rather than being simply refined, the crude for premium conventional engine oil is engineered to produce a uniform molecular structure that offers superior lubrication.
In terms of region, Asia-Pacific region dominated the global automotive engine oil market share in 2018. With increasing demand for automobiles and the rising investments in the automotive industry in countries such as China, India, and Japan, are responsible for the growth of the region. China is the largest engine oil consumer in the region, as well as globally.
The key players operating in the global automotive engine oil market are, Total S.A, Gazpromneft Lubricants, Ltd., LUKOIL oil company, ROSNEFT, Royal Dutch Shell plc., Saudi Arabian Oil Co., Exxon Mobil Corporation, BP plc., Statoil, Chevron Corporation., Sinopec Lubricant Company, Jiangsu Tech. Company Limited, Castrol Limited, and Ashland Inc.
The objective of the report is to present a comprehensive analysis of the Global Automotive Engine Oil Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors in the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Automotive Engine Oil Market dynamics, structure by analyzing the market segments and project the Global Automotive Engine Oil Market size. Clear representation of competitive analysis of key players by End-User Industry, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Automotive Engine Oil Market make the report investor’s guide.
Scope of the Global Automotive Engine Oil Market
Global Automotive Engine Oil Market, by Technology
• Premium Conventional engine Oil
• Full Synthetic engine Oil
• Synthetic Blend engine Oil
• Higher Mileage engine Oil
Global Automotive Engine Oil Market, by Additives
• Friction modifiers
• Anti- wear agents
• Pour point depressants
• Foam inhibitors
Global Automotive Engine Oil Market, by Distribution channel
Global Automotive Engine Oil Market, by Base oil type
Global Automotive Engine Oil Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in the Global Automotive Engine Oil Market
• Total S.A
• Gazpromneft Lubricants, Ltd.
• LUKOIL Oil Company
• Royal Dutch Shell plc.
• Saudi Arabian Oil Co.
• Exxon Mobil Corporation
• BP plc.
• Chevron Corporation.
• Sinopec Lubricant Company
• Jiangsu Tech. Company Limited
• Castrol Limited
• Ashland Inc.
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Name: Vikas Godage
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