Press release
Engine Oil Market Analysis, Growth By Top Companies, Trends By Types And Forecast To 2022-2031
According to a new report published by Allied Market Research, titled, "Engine Oil Market," The engine oil market was valued at $40.5 billion in 2021, and is estimated to reach $55.1 billion by 2031, growing at a CAGR of 3.1% from 2022 to 2031.
The concept of engine oil is typically attributed to motor oil, which is designed to lubricate the inner components of internal combustion engines and protect them against corrosion and keep them cool while in use. Engine oils are rated by their grade and viscosity. Moreover, it also polishes all the functional components of an electrical motor to protect and prevent rust from rusting in automobile metallic materials. Automotive vehicle sales have witnessed constant growth over the past few years, majorly in Europe and Asia, owing to the rise in population and consumer spending capacity. According to the International Organization of Motor Vehicle Manufacturers (OICA), the total automotive production across the globe increased by 9% in the first nine months of 2021 compared to 2020.
Download Report (PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/2095
The leading players operating in the engine oil market are Adolf Würth GmbH & Co. KG, AMSOIL INC., Ashland, BP p.l.c, Castrol Limited, Chevron Corporation, Exxon Mobil Corporation, Gazpromneft - Lubricants, Ltd., GS Caltex India, Jiangsu Lopal Tech.Co., Ltd., Lukoil, RN-Lubricants LLC, Saudi Arabian Oil Co., Shell, TotalEnergies, Valvoline, and Vip Oil Products Ltd.
The factors such as increase in sales of automobiles in developing countries, growing demand for high mileage vehicles, and demand for lower viscosity motor oil supplement the growth of the engine oil market. However, rise in sales of electric vehicles and fluctuating raw material prices are the factors expected to hamper the growth of the market. In addition, emerging demand for synthetic engine oil and trend of new rivals entering the engine oil industry creates market opportunities for the key players operating in the engine oil market.
Interested to Procure The Data? Inquire here at
https://www.alliedmarketresearch.com/purchase-enquiry/2095
KEY FINDINGS OF THE STUDY
By grade, the fully synthetic segment dominated the global engine oil market in terms of growth rate.
By sales channel, the OEM segment dominated the global engine oil market in terms of growth rate.
By engine type, the gasoline segment dominated the global engine oil market in terms of growth rate.
By vehicle type, the heavy commercial vehicles segment dominated the global engine oil market in terms of growth rate.
For More Detail On Engine Oil Market: https://www.alliedmarketresearch.com/engine-oil-market
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
About Allied Market Research
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
The concept of engine oil is typically attributed to motor oil, which is designed to lubricate the inner components of internal combustion engines and protect them against corrosion and keep them cool while in use. Engine oils are rated by their grade and viscosity. Moreover, it also polishes all the functional components of an electrical motor to protect and prevent rust from rusting in automobile metallic materials. Automotive vehicle sales have witnessed constant growth over the past few years, majorly in Europe and Asia, owing to the rise in population and consumer spending capacity. According to the International Organization of Motor Vehicle Manufacturers (OICA), the total automotive production across the globe increased by 9% in the first nine months of 2021 compared to 2020.
Download Report (PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/2095
The leading players operating in the engine oil market are Adolf Würth GmbH & Co. KG, AMSOIL INC., Ashland, BP p.l.c, Castrol Limited, Chevron Corporation, Exxon Mobil Corporation, Gazpromneft - Lubricants, Ltd., GS Caltex India, Jiangsu Lopal Tech.Co., Ltd., Lukoil, RN-Lubricants LLC, Saudi Arabian Oil Co., Shell, TotalEnergies, Valvoline, and Vip Oil Products Ltd.
The factors such as increase in sales of automobiles in developing countries, growing demand for high mileage vehicles, and demand for lower viscosity motor oil supplement the growth of the engine oil market. However, rise in sales of electric vehicles and fluctuating raw material prices are the factors expected to hamper the growth of the market. In addition, emerging demand for synthetic engine oil and trend of new rivals entering the engine oil industry creates market opportunities for the key players operating in the engine oil market.
Interested to Procure The Data? Inquire here at
https://www.alliedmarketresearch.com/purchase-enquiry/2095
KEY FINDINGS OF THE STUDY
By grade, the fully synthetic segment dominated the global engine oil market in terms of growth rate.
By sales channel, the OEM segment dominated the global engine oil market in terms of growth rate.
By engine type, the gasoline segment dominated the global engine oil market in terms of growth rate.
By vehicle type, the heavy commercial vehicles segment dominated the global engine oil market in terms of growth rate.
For More Detail On Engine Oil Market: https://www.alliedmarketresearch.com/engine-oil-market
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
About Allied Market Research
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
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