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Automotive Engine Oil Market to reach $7120.80 Million by 2024 | Valvoline, Castrol, Total, Shell, BP, Petronas

03-12-2020 07:59 AM CET | Business, Economy, Finances, Banking & Insurance

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Automotive Engine Oil Market

Automotive Engine Oil Market

Automotive Engine Oil Market is valued at USD 6062.57 Million in 2017 and expected to reach USD 7120.80 Million by 2024 with the CAGR of 2.32% over the forecast period. Increasing demand for automobiles in developing countries is the driving factor of automotive engine oil market.

Automotive engine oil is an engine lubricant which is a mix of base oils enhanced with additives like anti wear additives, detergents, dispersants, corrosion and oxidation inhibitors. The moving parts of engine when comes in to contact with each other creates friction and waste useful power by converting kinetic energy in to heat. The friction also wears away the engine parts which leads to lower efficiency and degradation of engine. This increases fuel consumption, decreases power output and in worst cases seizing of engine. To tackle the problem engine oil is used which reduces friction and wear on moving parts. It also cleans the engine from sludge, neutralizes acid created from oil and lubricant and cools the engine. It is also called protector of engine.

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Key Players for Global Automotive Engine Oil Market Reports-
Global Automotive Engine Oil market report covers prominent players like Valvoline, Wurth Triathlon, Castrol, Mobil, Total Lubricants, Shell, Sinopec, BP Plc, Exxonmobil, Royal Dutch shell plc, Fuchs, Lukoil, Agip Synthetic PC, ProCare Lubricants, Amsoil, Petronas, Pennzoil, Motul, Havoline and others.

The regions covered in this Automotive Engine Oil Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Automotive Engine Oil market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
North America has largest share in Automotive Engine Oil Market

North America is dominating the market with market share of around 38% on account of existing and growing number of automobiles in the region. Asia pacific is estimated to have highestgrowth rate in automotive engine oil market in forecasting period of 2017-24 due to increasing infrastructural development, increase in passenger cars and increase in automobile industry, especially in china. India, Malaysia, Thailand and Philippines are also expected to have increasein share of this market due to increasing disposal income and demand of individual vehicle. Increasing level of awareness of engine oil among consumers in developing countries helps the market to grow in these regions. Availability of basic oils in middle-east and Africa is estimated to help in growth of automotive engine oil market.

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Key Benefits for Global Automotive Engine Oil Market Reports -
o Global market report covers in depth historical and forecast analysis.
o Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
o Global market report helps to identify opportunities in market place.
o Global market report covers extensive analysis of emerging trends and competitive landscape.
Automotive Engine Oil Market Segmentation

By Technology
o Premium Conventional engine Oil
o Full Synthetic engine Oil
o Synthetic Blend engine Oil
o Higher Mileage engine Oil

By Additives
o Dispersants
o Friction modifiers
o Anti- wear agents
o Pour point depressants
o Foam inhibitors
o Anti-oxidants

By Base Oil Type
o Synthetic
o Mineral

By Region
o North America
o U.S.
o Canada
o Europe
o U.K.
o France
o Germany
o Italy
o Asia Pacific
o China
o Japan
o India
o Southeast Asia
o Latin America
o Brazil
o Mexico
o Middle East and Africa
o GCC
o Africa
o Rest of Middle East and Africa

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