Research Nester published a report titled “Automotive Engine OilMarket: Global Demand Analysis & Opportunity Outlook 2033” which delivers detailed overview of the global automotive engine oilmarket in terms of market segmentation by technology, vehicle type, additivesand by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global automotive engine oil market is anticipated to grow with a CAGR of ~6% during the forecast period, i.e., 2023-2033. The market is segmented by vehicle type into passenger car, light commercial v, heavy commercial vehicles, and others. Out of these, the passenger car segment is anticipated to garner the largest revenue by the end of 2033 owing to the accelerating passenger car market worldwide. According to estimates, the Indian passenger car market accounted for USD 32 billion in 2021 and is estimated to reach USD 53 billion in 2027. Moreover, the rising disposable income and rising awareness of the benefits of engine oil in vehicles among people are expected to fuel segment growth during the forecast period.

The global automotive engine oil market is estimated to garner significant revenue by the end of 2033, up from modest revenue in the year 2022. Rapid urbanization, growing crude petroleum production, rise in demand for automobiles and motorcycles in developing countries such as India and Japan, increasing exports of medium oils along with accelerating the automotive industry are some of the major factors anticipated to drive the growth of the market during the forecast period.

Geographically, the global automotive engine oil market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in Asia Pacific is projected to garner the largest revenue by the end of 2033 baked by the rise in demand and increasing sales of commercial vehicles coupled with increasing crude oil production and a huge base of customers with high purchasing power. It was observed that commercial vehicle sales grew by 8.21 % with nearly 54,000 vehicles sold in August 2021 to over 67,100 units sold in August 2022. 

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Rapid GrowthIn The Automotive Sector To Drive The Market Growth

It was observed that the automobile sector in India produced nearly 22,930,200 vehicle units in April 2021 with a modest increase from 22,600,600 units manufactured in April 2020.

The increasing awareness of the benefits of motor oil in vehicles such as the reduction of friction, and the protection and lubrication of engine parts should propel the demand for motor oil. Therefore, globally increasing development in the automotive industry worldwide along with growing demand for automobiles is projected to fuel global automotive 1engine oil market growth during the forecast period.

However, strict regulation by government towards fuel emission is expected to operate as key restraint to the growth of global automotive engine oil market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global automotive engine oil market which includes company profiling of Valvoline, Inc., Shell Plc, Total S.A, Arabol Lubricants, LUKOIL Oil Company, Exxon Mobil Corporation, Castrol Limited, Chevron Corporation, Amsoil Inc., Sinopec Lubricant Company. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive engine oilmarket that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

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