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Automotive Engine Oil Market 2023 - By Industry Growth, Emerging Trends, Key Players, Competitive Analysis And Forecast To 2032
Automotive Engine Oil Market
Automotive Engine Oil Market Size, Growth Rate, And Forecast
The global automotive engine oil market size grew from $38.61 billion in 2022 to $38.22 billion in 2023 at a compound annual growth rate (CAGR) of -1.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive engine oil market size is expected to grow to $44.62 billion in 2027 at a CAGR of 3.9%.
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Automotive Engine Oil Market Drivers
The increasing demand for carrier vehicles from small and medium scale enterprises is significantly driving the growth of the automotive engine oil market. The carrier vehicles are lightweight commercial vehicles used to carry goods. The production of lightweight commercial vehicles is increasing globally.
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Automotive Engine Oil Market Segments
• By Grade: Mineral, Synthetic, Semi-Synthetic
• By Engine: Gasoline, Diesel, Alternative Fuel
• By Technology: Premium Conventional Engine Oil, Full Synthetic Engine Oil, Synthetic Blend Engine Oil, Higher Mileage Engine Oil
• By Application: Passenger Vehicles, LCV, HCV, Two-Wheelers, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Automotive Engine Oil market.
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Automotive Engine Oil Market Key Players
Major competitors in the Automotive Engine Oil market include Exxon Mobil Corporation, Valvoline Inc., Fuchs Petrolub SE, Castrol, Shell PLC., Chevron Corporation, BP PLC.
The Business Research Company's "Global Automotive Engine Oil Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Automotive Engine Oil Market Include:
1. Executive Summary
2. Automotive Engine Oil Market Characteristics
3. Automotive Engine Oil Market Trends And Strategies
4. Automotive Engine Oil Market - Macro Economic Scenario
5. Automotive Engine Oil Market Size And Growth
.......................
26. Africa Automotive Engine Oil Market
27. Automotive Engine Oil Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Engine Oil Market
29. Automotive Engine Oil Market Future Outlook and Potential Analysis
30. Appendix
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