Global Engine Oil Market Growth 2023-2029

Global Engine Oil Market Growth 2023-2029

Motor oil, engine oil, or engine lubricant is any one of various substances that consist of base oils enhanced with various additives, particularly antiwear additives, detergents, dispersants, and, for multi-grade oils, viscosity index improvers. Motor oil is used for lubrication of internal combustion engines. The main function of motor oil is to reduce friction and wear on moving parts and to clean the engine from sludge (one of the functions of dispersants) and varnish (detergents). It also neutralizes acids that originate from fuel and from oxidation of the lubricant (detergents), improves sealing of piston rings, and cools the engine by carrying heat away from moving parts.
LPI (LP Information)' newest research report, the “Engine Oil Industry Forecast” looks at past sales and reviews total world Engine Oil sales in 2022, providing a comprehensive analysis by region and market sector of projected Engine Oil sales for 2023 through 2029. With Engine Oil sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Engine Oil industry.
This Insight Report provides a comprehensive analysis of the global Engine Oil landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Engine Oil portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Engine Oil market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Engine Oil and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Engine Oil.
The global Engine Oil market size is projected to grow from US$ 31130 million in 2022 to US$ 34430 million in 2029; it is expected to grow at a CAGR of 34430 from 2023 to 2029.
Global key players of Engine Oil are Shell, Exxon Mobil, BP, etc. Among them, Shell is the biggest manufacturer with a share 15 %. North America, Europe, Asia-Pacific occupy most of market share. Each of them takes more than 30%, while Middle East and Africa takes only 3%.
This report presents a comprehensive overview, market shares, and growth opportunities of Engine Oil market by product type, application, key manufacturers and key regions and countries.
Market Segmentation:
Segmentation by type
Mineral Oil
Synthesis Oil
Segmentation by application
Commercial Vehicle
Passenger Car
Motorcycle
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Shell
Exxon Mobil
BP
Total
Chevron Corporation
Lukoil
Sinopec Lubricant
Valvoline
CNPC
Petronas
SK Lubricants
FUCHS
Key Questions Addressed in this Report
What is the 10-year outlook for the global Engine Oil market?
What factors are driving Engine Oil market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Engine Oil market opportunities vary by end market size?
How does Engine Oil break out type, application?
What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.