The Automotive Engine Oil market Size and Share Analysis | Industry Growth Forecast to 2026.


Posted August 18, 2020 by fortunebusiness

The automotive engine oil market will exhibit a CAGR of 2.88% and reach USD 45.66 billion by 2026,and the market value as per 2018 was USD 36.49 billion.
 
The automotive engine oil market will exhibit a CAGR of 2.88% and reach USD 45.66 billion by 2026,and the market value as per 2018 was USD 36.49 billion.

Fortune Business Insights™ provided this information in a recent report, titled, “Automotive Engine Oil Market Size, Share & Industry Analysis, By Grade (Mineral, Synthetic and Semi-synthetic), By Engine Type (Diesel, Petrol, Alternative Fuel), By Application Area (Passenger Vehicle, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV), Two Wheeler, and Other), and Regional Forecast, 2019-2026.”

The automotive engine oil market Drivers and Restraints:
The market is anticipated to be affected positively owing to the increasing demand for synthetic automotive engine oil. It is mainly considered to be a replacement for mineral based engine oil. This type of oil is experiencing high demand from the developed regions, such as Europe and North America. It consists of chemically similar properties that of mineral based oil. Synthetic engine oil is capable of extending oil change intervals, decreases oil consumption, and enhances fuel economy. It is also less likely to oxidize, is not volatile, and is resistant to temperature change. However, increasing sustainability issues for the companies to exist in the highly competitive market may hamper the automotive engine oil market growth during the forthcoming period.
List of Significant Manufacturers in automotive engine oil market are:

• ExxonMobil Corporation
• Valvoline, Inc.
• Fuchs Petrolub SE
• Castrol
• Royal Dutch Shell plc
• RelaDyne
• Pentagon Lubricants Private Limited
• HINDUJA GROUP
• Chevron Corporation
• Total S.A.
• Other players

To gain more insights into the market with a detailed table of content and figures, Click Here: https://www.fortunebusinessinsights.com/automotive-engine-oil-market-102715



Some of the key industry developments in the automotive engine oil market Include:

• September 2020: RelaDyne joined hands with Circle Lubricants to broaden its geographic presence in the Northeast. It would also help the company in delivering its automotive and lubricant products throughout New Jersey, New York, and its surrounding areas.
• September 2020: Saudi Aramco completed the acquisition of 50% interest of Shell Saudi Arabia Limited in the SASREF joint venture. It would help the former in upsurging the capacity and complexity of its refineries.
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By fortune business insights
Phone 09326370357
Business Address Fortune Business Insights™ Pvt. Ltd. 308, Supreme Headquarters, Survey No. 36, Baner, Pune-Bangalore Highway, Pune - 411045
Country India
Categories Advertising , Publishing , Services
Tags automotive engine oil market , market growth , market share , market size
Last Updated August 18, 2020