Automotive Oil Market

Automotive Oil Market by Grade (Mineral, Semi-synthetic, Fully-synthetic) by Engine Type (Gasoline, Diesel, Alternative Fuel) by Application (Passenger Car, Commercial Vehicle) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028

Frequently Asked Questions

  • What is the global demand for Automotive Oil in terms of revenue?

    The global Automotive Oil valued at 37.58 Billion in 2020 and is expected to reach 53.48 Billion in 2028 growing at a CAGR of 4.51%%

  • Which are the prominent players in the market?

    The prominent players in the market are ExxonMobil, Conoil Plc, Shell, Forte Oil PLC, Total, Oando Plc, Chevron, Castrol, Engen..

  • At what CAGR is the market projected to grow within the forecast period?

    The market is project to grow at a CAGR of 4.51%% between 2021 and 2028.

  • What are the driving factors fueling the growth of the market.

    The driving factors of the Automotive Oil include

    • The rising demand for high mileage vehicles for better performance of the vehicle is anticipated to augment the growth of the automotive oil market during the forecast period. For high mileage vehicles, high mileage oil is infused with a unique blend of conditioning agents and additives that regular oil doesn’t have. The agents and additives help in slow leaks by conditioning engine seals that may have degraded over time, break up and dissolve sludge left behind by other oils, reduce oil loss caused by burn-off Improve your fuel efficiency and reduce general wear and tear on older engines. Hence, these factors are driving the demand for the automotive oil market in the years to come.
    • The increasing demand from emerging economies is expected to fuel the growth of the automotive oil market in the years to come. This is attributable to the presence highest number of vehicles present in developing economies especially in countries like China, India, and Thailand. Moreover, India and China are expected to have the highest number of vehicles on road and also India has the largest market for two-wheelers, which shall further drive the growth of the automotive oil market.

  • Which region accounted for the largest share in the market?

    Asia Pacific was the leading regional segment of the Automotive Oil in 2020.

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