Automotive Engine Oil Market Overview:
Automotive engine oil Market is estimated to reach over USD 45.09 Billion in 2022, registering a CAGR of 3.36% during the forecast period (2023-2030), and the market is projected to be worth USD 57.8 Billion by 2030. Detailed analysis and research with respect to values, statistics, and drivers, restraints, and opportunities are accurate for the buyers to decide their goals and objectives. Every driving is elaborated with proper research and statistics from various major economies. The report is not only limited to the driving factors, opportunities, and challenges, but also comprise past scenario and consumer behavior, ongoing trends, and the future insights so that the companies can decide their production volume and reduce wastage.
The automotive engine oil market refers to the industry that produces and sells lubricants designed for use in internal combustion engines of automobiles, including passenger cars, commercial vehicles, and motorcycles. Engine oil is a critical component for the proper functioning and maintenance of an engine, as it reduces friction, prevents wear and tear, and removes contaminants.
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Some of the Key Players that are Profiled in this Reports:
· Shell plc
· Exxon Mobil Corporation
· LUKOIL oil company
· Chevron Corporation
· Sinopec Lubricant Company
· HINDUJA GROUP
· Other players
Synthetic, Synthetic Blend, and Conventional (Mineral).
By engine type
Diesel, Petrol (Gasoline), and Alternatives
By Vehicle type
Passenger Vehicle, Commercial Vehicles (HCV & LCV), Two-Wheeler, and Others
· North America– (U.S., Canada, Mexico)
· Europe– (Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe)
· Asia Pacific– (China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific)
· Latin America– (Brazil, Argentina, Chile, Rest of Latin America)
· The Middle East and Africa– (GCC, Turkey, Israel, Rest of MEA)
The Automotive Engine Oil Market Growth is segmented on the basis of product, application, end user, and geography. Moreover, the industry players profiled in the report are increasingly adopting various growth strategies to create niche market in the industry, increase their sales, and ultimately expand their global reach. The market is majorly dominated in geographies like North America, Europe, Latin America, Asia Pacific, and Middle East & Africa.
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