Press release
Engine Oil Market by 2027 May Turn as Winner after Covid-19 Pandemic | Total S.A, Gazpromneft Lubricants, LUKOIL oil, ROSNEFT, Royal Dutch Shell, Saudi Arabian Oil, Exxon Mobil Corp, BP plc, Statoil, Chevron Corp
Get detailed COVID-19 impact analysis on the Engine Oil Market @ https://www.alliedmarketresearch.com/request-for-customization/2095?reqfor=covid
Lubrication of the engine parts is the vital function of an engine oil. The engine oil lubricates the engine parts for its efficient movement, thereby reducing the extent of metal contact, friction, and heat generation within the engine. In addition, cleaning & cooling the engine parts, sealing the gaps, and rust prevention are the other functions carried out by the engine oil. Engine oils are prepared by addition of substances, such as viscosity index improvers, antioxidants, metal detergents, and others to the base oil. The kind of oil used in vehicles varies depending upon the engine type.
Increase in sales of automobiles, owing to growth in purchasing capacity of individuals, and upsurge in demand for passenger cars in developing countries, such as China and India, are the key factors that drive the market growth during the forecast period.. However, presence of low-priced and counterfeit engine oils in the market has emerged to be a challenge for market players.
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The market is segmented based on engine oil type as conventional oil, synthetic engine oil, synthetic blend oil, and high-mileage engine oil. Conventional engine oils originate in varying viscosity and quality levels and and preferred for engines with simple design. Similarly, synthetic oils are known for their better performance in extreme high and extreme low temperatures. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits
o The report includes an extensive analysis of the factors that drive and restrain the global engine oil market.
o The factors that affect the growth and the market projections from 2017 to 2023 are included.
o The report provides quantitative & qualitative trends to assist the stakeholders to understand the opportunities prevailing in the market.
o An in-depth analysis of key segments has been provided.
o Competitive intelligence highlights the business practices followed by leading market players globally.
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Engine Oil Market Key Segments
By Type
o Conventional Engine Oil
o Synthetic Engine Oil
o Synthetic Blend Oil
o High-Mileage Engine Oil
By Geography
o North America
o Europe
o Asia-Pacific
o LAMEA
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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