Industry Research.co study on “Engine Oil Market” with various segments like market strategy, investment plan, industry share, growth factors, industry policy, revenue, opportunity, demand and 2024 forecast. Engine Oil Market report provides emerging market drivers, challenges, opportunities for Engine Oil Industry. It focuses on the latest trends and recent developments of Engine Oil Industry. Engine Oil market report will help you to know each and every fact of keyword industry. It also covers growth potential, market size, demand by buyer and suppliers and forecast details.
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Competitive Analysis: Engine Oil market report presents the market competitive landscape and a corresponding detailed analysis of the major key players in the industry. Top leading companies in Engine Oil market are:
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Scope of the Report:
Engine Oil Market Covers Following Points in TOC:
Chapter 1: Engine Oil Market Definition
Chapter 2: Research Methodology of Engine Oil Market
Chapter 3: Engine Oil Market Executive Summary
Chapter 4: Engine Oil Market Overview Includes Current Market Scenario, Porter’s Five Forces Analysis, Bargaining Power of Suppliers and Consumers, Threat of New Entrants and Substitute Product and Services
Chapter 5: Market Dynamics Covers Drivers, Restraints, Opportunities and Challenges
Chapter 6: Engine Oil Market Segmentation by Types, End-User, and Applications Forecast to 2024
Chapter 7: Engine Oil Market Segmentation by Geographical Regions
Chapter 8: Competitive Landscape of Engine Oil Market Includes Mergers & Acquisition Analysis, Agreements, Collaborations, and Partnerships, New Products Launches
Chapter 9: Key Players for Engine Oil Market
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Key Market Trends:
Automotive and Other Transportation Segment Dominated the Market
– Engine oils are widely used to lubricate internal combustion engines, and are composed of 75-90% base oils and 10-25% additives.
– They are typically used for applications, such as wear reduction, corrosion protection, and smooth operation of the engine internals. They function by creating a thin film between the moving parts, for enhancing heat transfer and reducing tension during the contact of parts.
– High-mileage engine oils are in demand, owing to the properties that help in oil leak prevention and reduction in oil-burn offs. Most light and heavy vehicle diesel and gasoline engines use 10W40 and 15W40 viscosity grade oils, globally.
– Technological advancements are imposing a threat to the growth of engine oils, owing to the increased engine oil change intervals.
– The increasing production and sales of light-duty vehicles are estimated to have a direct impact on engine oil consumption, which, in turn, is anticipated to drive the demand for the engine oil market during the forecast period.
Asia-Pacific Region to Dominate the Market
The Asia-Pacific region dominated the global market share in 2018. With rising demand for automobiles and the increasing investments in the automotive industry in countries, such as China, India, and Japan, the demand for engine oil is increasing in the region. China is the largest engine oil consumer in the region, as well as globally. Chinas automotive sector has been shaping for product evolution, with the country focusing on manufacturing products to ensure fuel economy and minimize emissions (owing to growing environmental concerns, as a result of the mounting pollution in the country). In India, the automotive industry has been witnessing a continued shift in the vehicle preferences, i.e., evolving vehicle parc, owing to consistent economic development, coupled with rising income; consumers moving from two- to four-wheelers, in turn, resulting in augmenting demand for passenger car motor oils (PCMO). Several automakers have started investing heavily in various segments of the industry, with increasing demand for vehicles. Overall, the market for engine oils is being driven with the growing automotive sales in the region.
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