Press release
Consumption Lubricant By Volume | Automotive Engine Oil Market | Ken Research
Lubricants and automotive engine oil market players include Shell, British Petroleum, ExxonMobil, Total, Chevron, Pennzoil, Amsoil Inc., Kendall (Phillips), Fuchs Group, Valvoline, Castrol, Sinopec Corp., PetroChina, Idemitsu Oil & Gas Co. Ltd., Nippon Oil, Luk Oil, Petrobras, Petronas, PetroFer Chemie, Quaker Chemical Corporation, Zeller+Gmelin Corporation, Blaser Swisslube AG, Buhmwoo Chemical Ind. Co. Ltd.
Rising demand for machinery maintenance from manufacturing sector to reduce the operational cost will stimulate the growth of business in future. Asia Pacific is anticipated to witness highest growth owing to increase in demand from machining, plastics, mining, and metal forming industry mainly in India and China which has resulted in capability expansions over the forecast period. Consumption Lubricant By Volume is expected to exhibit substantial growth owing to strong domestic lubricant consumption demand through the manufacturing and automotive industries during the forecast period.
For More Information, refer to below links:-
https://www.kenresearch.com/tag/automotive-transportation-and-warehousing/lubricant/156.html
Automotive engine oil is used in the engine & transmission chamber of the vehicle to reduce the friction between the components of transmission and engine assembly. Furthermore, engine oils are approved by Original Equipment Manufacturer (OEMs) for use in their vehicles. Engine oil’s secondary function of is to maintain the temperature of the engine chamber and prevent the deterioration of engine parts due to oxidation. Automotive engine oils are derived from the petroleum, which is further processed to improve the quality of the engine oil.
Based on grade type, market is segregated as mineral grade, semi-synthetic grade and fully-synthetic grade. Based on engine type, market is segregated as diesel and engine oil. In addition, based on technology, market is segregated as premium conventional engine oil, synthetic blend engine oil, full synthetic engine oil, and higher mileage engine oil.
The global automotive engine oil market witnessed a considerable growth during the past few years. The government legislations for automotive engine oil, rise in disposable income, growth in automotive aftermarket and rise in demand within automotive market are driving factors for the growth of automotive engine oil market. The growing vehicle sales & its production in developing countries is an opportunity for market.
Based on geography, North-America is a major market for automotive engine oil mainly attributed to huge volume of motor vehicle in this region. It is followed by Asia Pacific and Europe. The market is witnessing a rising growth in Asia Pacific region. In recent years, China has become the global hub for automobile industry. Some of the other region in Asia Pacific such as Indonesia, India, Malaysia, Thailand and Philippines are growing into the prevalent markets for small car segment in the world.
Related Report:-
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/malaysia-automotive-lubricant-market-outlook-to-2025/342038-100.html
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Ken Research Pvt. Ltd.,
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Ken Research is a Global aggregator and publisher of Market intelligence, equity and economy reports. Ken Research provides business intelligence and operational advisory in 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies. Serving over 70% of fortune 500 companies globally, some of top consulting companies and Market leaders seek Ken Research’s intelligence to identify new revenue streams, customer/ vendor paradigm and pain points and due diligence on competition.
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