Automotive Engine Oil Market Driven By Increasing The Production Of Automobiles And Demand For Conventional And Synthetic Products

The global automotive engine oil market size is projected to reach USD 48.1 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 3.7% during the forecast period. Increasing demand for synthetic engine oil owing to excellent protection at high temperature and exceptional resistance to thermal break down is the key factor driving the industry growth.

Heavy-duty engine oils are mainly used as a lubricant in internal combustion engines of heavy-duty-vehicles.Heavy Duty Engine Oil provides various benefits, such as reduced wear and tear, accumulation of dust, corrosion, and friction between engine parts. Rise in demand for heavy-duty vehicles owing to burgeoning trade and advancements in logistics has spurred product demand in this segment. Gasoline engines, also referred to as petrol engines, have top piston rings, which possess the ability to expose the motor oil in use to temperatures above 160 degree centigrade.

Majority of the gasoline engine vehicles comprise of light trucks and passenger vehicles.Such engines cannot operate smoothly with higher-viscosity oils as the engine type is not equipped to function trouble-free with high heat generation. The industry is highly characterized by the presence of major industry participants continuously carrying out R&D on additives for engine oil to improve the performance and reduce wear and tear of engine parts. Companies, such as Motul and Amsoil, strategically ventured into joint business operations with oil & gas giants to ensure long-term raw material procurement ease.

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Further key findings from the study suggest:

• In terms of volume, the global automotive engine oil market size is anticipated to exceed 16.0 kilotons by 2025
• Latin America is expected to witness a CAGR of 3.1% from 2018 to 2025. Automotive vehicle production increased by 25.2% in 2017, which is said to have a positive impact on the region’s growth
• Companies in the market are focusing on forming strategic collaborations to increase capacities and expand their reach in the emerging global economies
• In 2018, Fuchs Petrolub SE announced to invest USD 23.19 million in a new lubricant blending plant in Beresfield, Australia
• Multinationals, such as HP Lubricants, have introduced their own line of products (HP GASENOL 20W 50), specifically for CNG and natural gas engines. These oils are used in heavy-duty trucks, as well as passenger cars

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Grand View Research has segmented the global automotive engine oil market on the basis of grade, engine type, vehicle type, and region:

Automotive Engine Oil Grade Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

• Mineral
• Semi-synthetic
• Synthetic

Automotive Engine Oil Engine Type Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

• Gasoline
• Diesel
• Alternative Fuel

Automotive Engine Oil Vehicle Type Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

• Passenger Cars
• Light Commercial Vehicles
• Heavy Duty Vehicles
• On-Highway Vehicle
• Off-Highway Vehicle
• Motorcycles

Automotive Engine Oil Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• Saudi Arabia

About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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