Press release
Global Automotive Engine Oil Market to Witness an Outstanding Growth by 2020
TOC of this report is available upon request @ http://www.persistencemarketresearch.com/toc/2838
North America is the largest market for automotive engine oil mainly attributed to large volume of motor vehicle in this region. It is followed by Europe and Asia Pacific. The market is witnessing an escalating growth in Asia Pacific region. China, in recent years, has become the global hub for the automobile industry. Some of the other region in Asia Pacific such as India, Indonesia, Malaysia, Thailand and Philippines are growing into the largest markets for small car segment in the world.
Growing middle class, rising disposable income, developing surface transportation infrastructure, growing aspiration of owning private vehicles, increasing mobility due to development of satellite township near megacities and increase demand of goods carriers from micro, small and medium size enterprises are fueling the market for automotive engine oil in Asia Pacific region. Growing automotive aftermarket and do it yourself (DIY) culture in North America and Europe is fueling the growth of automotive engine oil in retail sector in these two region.
Some of the major players operating in the automotive engine oil market include Saudi Arabian Oil Co., Total S.A, Gazprom, ROSNEFT, LUKOIL oil company, Royal Dutch Shell plc, Exxon Mobil Corporation, BP p.l.c, Statoil, Chevron Corporation., Sinopec Lubricant Company, JIANGSU LOPAL TECH. CO.,LTD. and Ashland Inc.
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