The Engine Oil market report provides overall structure and business outlook of the Global and regional industries. The study also involves the important Achievements of the market, Research & Development, new product launch, product responses and regional growth of the leading competitors operating in the market on a Global and local scale. This study provides information about the growth and revenue during the historic and forecasted period of 2015 to 2026. The structured analysis contains graphical as well as a diagrammatic representation of Global Naphtha Market with its specific geographical regions.
The engine oil market is expected to register a CAGR of 2.22% during the forecast period (2019-2024). Increasing adoption of high-performance lubricants, globally, has been driving the market over the recent past, and is expected to continue over the forecast period.
– Increasing automotive production and sales is expected to drive the demand for the market, during the forecast period.
– Modest impact of electric vehicles (EVs) in the future is likely to hinder the market growth.
– Numerous upcoming construction projects in North America and Asia-Pacific are projected to act as an opportunity for the market, in the future.
Market By Top Leading Players-
Bharat Petroleum Corp. Ltd, BP PLC, Caltex Australia Group, Chevron Corp., China National Petroleum Corp. (Petrochina), China Petrochemical Corp. (SINOPEC Group), ExxonMobil Corporation, Fuchs Petrolub SE, Gazpromneft – Lubricants Ltd, Gulf Oil Lubricants India Ltd, Hindustan Petroleum Corp. Ltd, Idemitsu Kosan Co. Ltd, Indian Oil Corp. Ltd, JXTG Nippon Oil & Energy Corporation, LukOil, Motul, Petrobras, PETRONAS Lubricants International, Phillips 66 Lubricants, PT Pertamina, Repsol, Royal Dutch Shell, SK Lubricants Co. Ltd, Tide Water Oil Co. (India) Ltd (Veedol International Ltd), Total SA, Valvoline Inc.
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Key Market Trends
Asia-Pacific Region to Dominate the Market
The Asia-Pacific region dominated the global market share in 2018. With rising demand for automobiles and the increasing investments in the automotive industry in countries, such as China, India, and Japan, the demand for engine oil is increasing in the region. China is the largest engine oil consumer in the region, as well as globally. Chinas automotive sector has been shaping for product evolution, with the country focusing on manufacturing products to ensure fuel economy and minimize emissions (owing to growing environmental concerns, as a result of the mounting pollution in the country). In India, the automotive industry has been witnessing a continued shift in the vehicle preferences, i.e., evolving vehicle parc, owing to consistent economic development, coupled with rising income; consumers moving from two- to four-wheelers, in turn, resulting in augmenting demand for passenger car motor oils (PCMO). Several automakers have started investing heavily in various segments of the industry, with increasing demand for vehicles. Overall, the market for engine oils is being driven with the growing automotive sales in the region.
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Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countriesGlobally for the market.
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