Automotive engine oil refers to the lubricant which is
used to oil the internal parts of an internal combustion engine.
Automotive engine oil is made up of organic compounds, hydrocarbons and
polyinternal olefins. These oils are enriched with certain additives such
as engine stability additives and extreme pressure additives which boosts the
performance of the engine. Automotive engine oil is used to prevent the engine
seizure as engine oils reduce the wear on the moving parts such as piston and crankshaft
and removes heat generated from engine. The market share of automotive
engine oils has continuously been rising due to the increased usage and demand
for automobiles. Apart from preventing engine failure, the automotive engine
oil performs various other functions such as reducing engine noise, reducing
friction and dissipation of heat from the engine. The continuous use of
automotive engine oil increases the life of an automotive engine.
Automotive
engine oil has several properties such as high boiling point and low freezing
point. This helps the automotive engine oil to stay in its liquid state while
operating at different range of temperatures. Further, these oils do have a
property of corrosive prevention which prevents the internal parts of engine
from getting corroded. Further, automotive engine oils takes away suspended
particles to the oil filter and helps to increase the efficiency of the engine.
Moreover, the increasing trend of owning a vehicle provides a major opportunity
of the growth for the automotive engine oil market.
Market Size and Forecast
The market of automotive engine oil
is anticipated to grow at compound annual growth rate (CAGR) of 5.32 % over the
forecast period 2017-2024. This can be attributed to various factors such as
increasing number of automobiles on road, burgeoning middle class and rapid
pace of urbanization. Regionally, Asia-Pacific accounted for the highest market
percentage share of automotive engine oils in 2016. Further, it is anticipated
to witness significant growth over the forecast period owing to the increasing
demand and sales of automobiles. Moreover, increasing awareness level among
consumers about the engine oil is propelling the automotive engine oil market
growth. China accounts for the highest market share of the automotive engine
oil in the Asia-Pacific region.
North
America is also envisioned to bolster the global automotive engine oil
market owing to the rising disposable income. Further, availability
of base oils is anticipated to grow the market size of Middle East and Africa
in the next few years.
Market Segmentation
Our-in
depth analysis of the global automotive engine oil market includes the
following segments:
By
Technology
·
Premium
Conventional engine Oil
·
Full
Synthetic engine Oil
·
Synthetic
Blend engine Oil
·
Higher
Mileage engine Oil
By
Additives
·
Dispersants
·
Friction
modifiers
·
Anti-
wear agents
·
Pour
point depressants
·
Foam
inhibitors
·
Anti-oxidants
By
Distribution Channels
·
Original
Equipment Manufacturer (OEM)
·
Aftermarket
By Region
·
North
America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity
Analysis
·
Latin
America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth &
Opportunity Analysis
·
Western
and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium,
Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth
& Opportunity Analysis
·
Asia-Pacific
(China, India, Japan, Singapore, Australia, New Zealand, South Korea & Rest
of Asia) Market size, Y-O-Y growth & Opportunity Analysis.
·
Middle
East and Africa (China, India, Japan, Singapore, Australia, New Zealand, Rest
of Asia) Market size, Y-O-Y growth & Opportunity Analysis
Growth Drivers and Challenges
The growth
of the global automotive engine oil market is primarily driven by the increased
sales and demand for automobiles on the road. The rapid pace of urbanization
has led to the growth of global automotive engine oil. Moreover, burgeoning
middle class population and increasing consumer awareness about the engine oil
benefits are anticipated to be the dynamic factor behind the rapid growth of
global automotive engine oil market. Further, change of consumer preference
from conventional to synthetic engine oil is another factor which is
anticipated to drive the global market.
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However,
rising supply of counterfeit engine oil product is believed to dampen the
growth of global automotive engine oil market. Moreover, government regulations
regarding the emission are anticipated to restraint the growth of automotive
engine oil market. Nowadays, consumer wants to go for environment friendly
products and lack of environment friendly engine oils that may dampen the
growth of engine oil market.
Key Players
·
Total
S.A
o Company Overview
o Key Product Offerings
o Business Strategy
o SWOT Analysis
o Financials
·
Saudi
Arabian Oil Co.
·
LUKOIL
Oil Company
·
Royal
Dutch Shell plc
·
Exxon
Mobil Corporation
·
Castrol
Limited
·
Chevron
Corporation
·
Amsoil
Inc.
·
Statoil
·
Sinopec
Lubricant Company
Scope and
Context
Overview
of the Parent Market
Analyst
View
Segmentation
The global
automotive engine oil market is segmented as
follows:
·
By
Technology Size & Y-O-Y Growth Analysis
·
By
Additives Size & Y-O-Y Growth Analysis
·
By
Distribution Channel Size & Y-O-Y Growth Analysis
·
By
Region Market Size & Y-O-Y Growth Analysis
Market
Dynamics
Supply
& Demand Risk
Competitive
Landscape
Porter’s
Five Force Model
Geographical
Economic Activity
Key
Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent
Trends and Developments
Industry
Growth Drivers and Challenges
Key
Information for Players to establish themselves in current dynamic environment
To know
more about this research, kindly visit:
For Table of Content &
Free Sample Report Contact:
Ajay
Daniel
Email:
ajay.daniel@researchnester.com
U.S. +1 646 586 9123
U.K. +44 203 608 5919
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