Press release
Engine Oil Market to Eyewitness Massive Growth by 2027 | Gazpromneft Lubricants, LUKOIL Oil Company, ROSNEFT, Royal Dutch Shell, Saudi Arabian Oil, Exxon Mobil, Castrol
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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.
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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.
Key players profiled in the engine oil market report include Total S.A, Gazpromneft Lubricants, Ltd., LUKOIL oil company, ROSNEFT, Royal Dutch Shell plc., Saudi Arabian Oil Co., Exxon Mobil Corporation, BP plc., Statoil, Chevron Corporation., Sinopec Lubricant Company, Jiangsu Tech. Company Limited, Castrol Limited, and Ashland Inc.
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Key Benefits
• The report includes an extensive analysis of the factors that drive and restrain the global engine oil market.
• The factors that affect the growth and the market projections from 2017 to 2023 are included.
• The report provides quantitative & qualitative trends to assist the stakeholders to understand the opportunities prevailing in the market.
• An in-depth analysis of key segments has been provided.
• Competitive intelligence highlights the business practices followed by leading market players globally.
Engine Oil Market Key Segments
By Type
• Conventional Engine Oil
• Synthetic Engine Oil
• Synthetic Blend Oil
• High-Mileage Engine Oil
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By Geography
• North America
• Europe
• Asia-Pacific
• 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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