Report Code: A10791 | Pages: NA | Jul 2023 | 1054 Views | ||
Author(s) : Eswara P | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Automotive Engine Oil Market
Request Now !Engine oil is an oil-based lubricant used to minimize the friction between the movable parts in an automotive engine and the transmission chamber. The automotive engine oil also helps in maintaining the temperature inside the engine chamber by reducing friction and also prevents the engine parts from corrosion. An engine with proper lubrication performs with maximum efficiency with better durability, thus engine oil is preferable option in maintaining smooth operation of engines.
COVID-19 scenario analysis:
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
With the rapid increase in globalization, there is a rise in disposable income among the consumers. This has resulted in a rapid growth in the number of private vehicles around the world and this has acted as a major driver for the growth of the automotive engine oil market. The growing environmental concerns about the depleting natural resources has increased the demand for highly efficient engine oil for better fuel efficiency and performance of the vehicles. The major manufacturers are focusing on developing better and more efficient synthetic engine oil big better coefficient of viscosity. This is expected to boost the growth of the global automotive engine oil market in near future. However, the growing popularity of electric vehicles in major countries limit the market growth.
In terms of market share, the market in the Asia-Pacific region holds a significant fraction of the global automotive engine oil market. This is because of the high population density and high number of vehicles used in the region leading to a huge demand of engine oil in the emerging economies such as India and China. The market in North America and Europe is also expected grow at a rapid pace due to the presence of several automobile manufacturers in the developed countries along with the growing demand for high performance engine oil in the market.
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Questions answered in the Automotive Engine Oil Market research report:
Automotive Engine Oil Market Report Highlights
Aspects | Details |
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By Grade |
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By Engine Type |
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By Vehicle Type |
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By Region |
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Key Market Players | LUKOIL oil company, Pentagon Lubricants Private Limited, ROSNEFT, Leo Lubricants Pvt. Ltd., Castrol Limited, HINDUJA GROUP, DANA LUBRICANTS FACTORY LLC, Sinopec Lubricant Company., Ashland Inc., Royal Dutch Shell plc |
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