Automotive Engine Oil Market Growth Forecasts - A USD 47.7 Bn Industry Opportunity By 2030Posted by rahul nikade on August 16th, 2022 Automotive Engine Oil Industry Overview The global automotive engine oil market is estimated to reach USD 47.70 billion by 2030 according to a new report by Grand View Research, Inc. Growth can be attributed to the emerging need for high-performance engine oils due to tactical vehicle mechanisms and operational blueprints being implemented by multinational automobile manufacturers. Additives are used to improve the properties and performance of the oil. Additives are characterized by their functions such as viscosity improvers, friction reducers, anti-oxidants, rust & corrosion inhibitors, anti-foaming agents, pour point depressants, foreign particle depressants, and extreme pressure additives, anti-wear additives, and acid neutralizers. Additives are selected according to the engine design and performance level. Engine manufacturers define the suitable API gravity of oil to be used for better performance and less wear & tear. Automotive Engine Oil Market Segmentation Grand View Research has segmented the global automotive engine oil market report on the basis of grade, engine type, vehicle type, and region: Based on the Grade Insights, the market is segmented into mineral, semi-synthetic and fully-synthetic
Based on the Engine Type Insights, the market is segmented into gasoline, diesel and alternative fuels
Based on the Vehicle Type Insights, the market is segmented into passenger cars, light commercial vehicles, heavy-duty vehicles and motorcycle
Automotive Engine Oil Regional Outlook
Key Companies Profile & Market Share Insights A majority of the manufacturers are integrated across different stages of the value chain. Base oil and additives are the main raw materials employed in the manufacturing of the product. Thus, numerous manufacturers of the product such as ExxonMobil and Royal Dutch Shell produce their own base oil supplies to vertically integrate production. Some prominent players in the global automotive engine oil market include:
Order a free sample PDF of the Automotive Engine Oil Market Intelligence Study, published by Grand View Research. About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc. Phone: 1-415-349-0058 Toll Free: 1-888-202-9519 Email: sales@grandviewresearch.com Web: https://www.grandviewresearch.com
Like it? Share it!More by this author |