Global Automotive Engine Oil Market 2024-2028
The automotive engine oil market is forecasted to grow by USD 14.29 bn during 2023-2028, accelerating at a CAGR of 4.71% during the forecast period. The report on the automotive engine oil market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by a growing number of vehicles in use, rising demand for automotive engine oil in APAC, and growing demand for full synthetic engine oil.
Technavio's automotive engine oil market is segmented as below:
By Application
- Passenger vehicles
- Commercial vehicles
By Type
- Diesel
- Petrol
- Alternative fuels
By Geographical Landscape
- APAC
- Europe
- North America
- South America
- Middle East and Africa
This study identifies the advances in engine oil technology as one of the prime reasons driving the automotive engine oil market growth during the next few years. Also, the increasing number of strategic alliances by vendors and the growing uptake of thinner engine oil will lead to sizable demand in the market.
The report on the automotive engine oil market covers the following areas:
- Automotive engine oil market sizing
- Automotive engine oil market forecast
- Automotive engine oil market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive engine oil market vendors that include AMSOIL Inc., BP Plc, Chevron Corp., China Petrochemical Corp., DMax Lubricants GmbH, Eni SpA, Exxon Mobil Corp., FUCHS PETROLUB SE, GS Global Corp., Hinduja Group Ltd., Idemitsu Kosan Co. Ltd., MOTUL SA, Nandan Group, PETRONAS Chemicals Group Berhad, PJSC LUKOIL, Polski Koncern Naftowy ORLEN SA, Repsol SA, Shell plc, TotalEnergies SE, and Valvoline Inc.. Also, the automotive engine oil market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.