The global automotive engine oil market size is expected to gain momentum due to the increasing demand for low-viscosity motor oils that can improve fuel economy. Many OEMs have also started recommending these types of oils for better performance. Fortune Business Insights™ provided this information in a recent report titled “Automotive Engine Oil Market Size, Share and Industry Analysis, By Grade (Mineral, Synthetic, Semi-Synthetic), By Engine Type (Diesel, Gasoline, Alternative Fuel), By Application Segment (Passenger Car, Light Commercial) ) Vehicle (LCV), Heavy Commercial Vehicle (HCV), Two-Wheeler, Others), and Forecast by Region, 2019 to 2026.” The report further states that the automotive engine oil market size was US$ 36.49 billion in 2018 and is projected to reach US$ 45.66 billion by 2026, exhibiting a CAGR of 2.88% during the forecast period.

Fortune Business Insights™ lists the names of all organizations present in the Automotive Engine Oil market. They are:

ExxonMobil Corp.
Valvoline Inc.
Fuchs Petrolabs SE
Castrol
Royal Dutch Shell plc
Liladyne
Pentagon Lubricants Private Limited
Hinduja Group
Chevron Corp.
Total SA
Other Players
Highlights of this report:

Market strategies and shares of major companies.
Complete background analysis consisting of parent market evaluation.
Emerging regional markets and niche segments.
Ratings and reports on the latest trends in the industry.
Major changes in market dynamics.
Insights on trends and opportunities in the Automotive Engine Oil market.
Driver and restraints -

Surging demand for synthetic automotive engine oils drives growth

The automotive engine oil market share is expected to be positively impacted due to the increasing demand for automotive synthetic engine oil. It is primarily considered as an alternative to mineral-based engine oils. This type of oil is in high demand in developed regions such as Europe and North America. It has chemical properties similar to mineral oil. Synthetic engine oil can extend oil change intervals, reduce oil consumption, and improve fuel economy. It is also resistant to oxidation, does not volatilize, and is resistant to temperature changes. However, sustainability issues are increasing for companies to survive in a highly competitive market, which may hinder future growth of the automotive engine oil market.

Visit:  https://www.fortunebusinessinsights.com/automotive-engine-oil-market-102715

segment-

Diesel segment grows significantly due to cost efficiency

In terms of engine type, the market is segmented into alternative fuels, gasoline, and diesel. Of this, the diesel sector raised his 43.38% of the automotive engine oil market share in 2018. This growth is due to the cost-effectiveness of diesel engines compared to gasoline engines. They also hold more energy and are about 40% more efficient than gasoline engines. The combustion process reduces carbon dioxide emissions and is efficient.

Regional analysis-

Increasing number of vehicles driving growth in Asia Pacific

The automotive engine oil market share is geographically categorized into Europe, Middle East & Africa, North America, Asia Pacific, and South America. Out of this, Asia Pacific generated a market revenue of USD 12.41 billion in 2018. This region is considered to be one of the largest and fastest growing regions in the market due to the increasing number of vehicles in countries such as Thailand, India, and China. China and India are projected to have the largest number of vehicles plying on the roads. India is also considered to be the largest market for two-wheelers. Meanwhile, North America will show significant growth, supported by increasing government support to promote the use of energy-efficient oil. In Europe, governments are introducing strict rules for the use of environmentally friendly oil.

Blog related insights:

https://www.globenewswire.com/en/news-release/2020/05/11/2031157/0/en/Automotive-Engine-Oil-Market-Size-to-Touch-USD-45-66-Billion- By 2026, demand for low viscosity motor oil will increase to help growth, says - Fortune-Business-Insights.html