The global automotive engine oil market size is projected to reach USD 48.1
billion by 2025, according to a new report by Grand View Research, Inc. The
market is anticipated to register a CAGR of 3.7% during the forecast period.
Increasing demand for synthetic engine oil owing to excellent protection at
high temperature and exceptional resistance to thermal break down is the key
factor driving the industry growth.
Heavy-duty engine oils are mainly used as a
lubricant in internal combustion engines of heavy-duty-vehicles.Heavy Duty
Engine Oil provides various benefits, such as reduced wear and tear,
accumulation of dust, corrosion, and friction between engine parts. Rise in
demand for heavy-duty vehicles owing to burgeoning trade and advancements in
logistics has spurred product demand in this segment. Gasoline engines, also
referred to as petrol engines, have top piston rings, which possess the ability
to expose the motor oil in use to temperatures above 160 degree centigrade.
Majority of the gasoline engine vehicles
comprise of light trucks and passenger vehicles.Such engines cannot operate
smoothly with higher-viscosity oils as the engine type is not equipped to
function trouble-free with high heat generation. The industry is highly
characterized by the presence of major industry participants continuously
carrying out R&D on additives for engine oil to improve the performance and
reduce wear and tear of engine parts. Companies, such as Motul and Amsoil,
strategically ventured into joint business operations with oil & gas giants
to ensure long-term raw material procurement ease.
To request a sample copy
or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/automotive-engine-oil-market
https://www.grandviewresearch.com/industry-analysis/automotive-engine-oil-market
Further key findings from the study suggest:
· In terms of volume, the global automotive
engine oil market size is anticipated to exceed 16.0 kilotons by 2025
· Latin America is expected to witness a CAGR
of 3.1% from 2018 to 2025. Automotive vehicle production increased by 25.2% in
2017, which is said to have a positive impact on the region’s growth
· Companies in the market are focusing on
forming strategic collaborations to increase capacities and expand their reach
in the emerging global economies
· In 2018, Fuchs Petrolub SE announced to
invest USD 23.19 million in a new lubricant blending plant in Beresfield,
Australia
· Multinationals, such as HP Lubricants, have
introduced their own line of products (HP GASENOL 20W 50), specifically for CNG
and natural gas engines. These oils are used in heavy-duty trucks, as well as
passenger cars
Grand View Research has segmented the
global automotive engine oil market on the basis of grade, engine type, vehicle
type, and region:
Automotive Engine Oil Grade Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
Mineral
·
Semi-synthetic
·
Synthetic
Automotive Engine Oil Engine Type Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
Gasoline
·
Diesel
·
Alternative Fuel
Automotive Engine Oil Vehicle Type Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
Passenger Cars
·
Light Commercial Vehicles
·
Heavy Duty Vehicles
o
On-Highway Vehicle
o
Off-Highway Vehicle
·
Motorcycles
Automotive Engine Oil Regional Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
France
o
U.K.
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
o
Mexico
·
Middle East & Africa
o
Saudi Arabia
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare
For More Information: www.grandviewresearch.com
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