NEW YORK, May 25, 2021 /PRNewswire/ — The “Automotive Engine Oil Market by Application and Geography – Forecast and Analysis 2021-2025” report has been added to Technavio’s offering.
The automotive engine oil market is set to grow by 936.36 million liters, progressing at a CAGR of almost 4% during 2021-2025. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
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Automotive Engine Oil Market: Segmentation by Application
Based on the segmentation by application, the market generated maximum revenue in the passenger vehicles segment in 2020. The demand for passenger vehicles with an advanced fuel injection system, variable cylinder displacement, and hybrid powertrain is increasing. The segment is driven by the increasing demand for engine oil which is expected to have a positive impact on the passenger vehicles segment of the global automotive engine oil market during the forecast period.
Automotive Engine Oil Market: Segmentation by Geography
APAC held the largest market share in 2020 and the market growth in the region is expected to be faster compared to the growth of the market in other regions. The growth of the market in APAC can be attributed to the growing consumer awareness about the advantages of using synthetic oil.
Automotive Engine Oil Market: Opportunities
Factors such as the reopening of international boundaries for trading, growing consumer awareness about fully synthetic engine oil and stringent regulatory standards for automotive lubricants, and the higher consumer preference for large utility vehicles are further enhancing the growth of the market. Over the years, countries across the world have been making significant investments in the automotive sector. This is creating considerable demand for the automotive engine oil market thereby opening several growth opportunities for market vendors.
Know more about Techanavio’s analysis on the impact of Disruption Threats comparing Disruptive sources and Factors driving disruption:
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Key Market Dynamics:
- The growing number of vehicles in use.
- APAC driving market revenue.
- Growing demand for full synthetic engine oil.
- Fluctuating crude oil prices.
- The growing sales of all-electric cars.
- The growing availability of fake automotive lubricants.
- Adolf Wurth GmbH and Co. KG
- AMSOIL Inc.
- BP Plc
- Chevron Corp.
- China Petroleum and Chemical Corp.
- Eni Spa
- Exxon Mobil Corp.
- FUCHS PETROLUB SE
- Lucas Oil Products Inc.
- MOTUL SA
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Along with the market data, Technavio offers customizations as per the specific needs of the companies. The following customization options are available for the automotive engine oil market report:
- Further breakdown of the market segmentation in requested regions.
- Detailed analysis and profiling of additional market players, vendor segmentation, and vendor offerings.
Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation by Application
- Market Segmentation by Geography
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
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