Global Automotive Motor Oil Market : Demand, Overview, Price and Forecasts To 2025
Market Overview
The Global Automotive Motor Oil Market is expected to be valued at USD 28.30 Million metric tons by 2026, with a CAGR of 3.80% during the forecast period (2019–2026).
The report covers segmentation and drivers for a better glimpse of the market in the coming years. The automotive motor oil is used to reduce metal-to-metal contact in order to minimize overall friction and reduce damage. The main advantage of motor oil is to protect and improve the overall functioning of engines in passenger car and heavy-duty commercial vehicles. Moreover, the passenger car motor oils are made from a combination of base oils that are obtained from petroleum-based hydrocarbons. Such oils prevent the occurrence of corrosion and rust as well as obstruct the formation of deposits in the engine. There are four types of automotive motor oil which includes conventional motor oil, high-mileage motor oil, synthetic blend motor oil, and full synthetic motor oil.
Competitive Analysis
Some of the Key Industry Participants of the Global Automotive Motor Oil Market are Chevron Corporation (US), BP PLC (UK), Total (France), China Petroleum & Chemical Corporation (China), Petro‐Canada Lubricants Inc. (Canada), GP Petroleums Ltd (India), Caltex Australia (Australia), Petromin Corporation (Saudi Arabia), China National Petroleum Corporation (China).
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Market Synopsis
Exxon Mobil aims to increase its share in the global automotive motor oil market and expand its revenue by investing in proprietary technologies. It is focused on product development and acquisitions for catering to the changing requirements of the automotive industry. For instance, in June 2018, the company acquired PT Federal Karyatama for strengthening its market position in Indonesia.
Shell is working in collaboration with customers, governments, business partners, investors, and other stakeholders for strengthening its position in the global market. It is focused on producing low-carbon emission automotive motor oil to cater to the changing needs of the automotive industry. It aims to increase its production capacity by acquiring new production sites and expanding its production base by increasing its capital investments, which is expected to reach USD 30 billion by 2020.
Market Segmentation:
The global market for automotive motor oil is segmented based on type, sales channel, and vehicle type. By type, the global automotive motor oil market is segmented into conventional, synthetic blend, full synthetic, and high mileage. The synthetic blend segment held the largest market share in 2018. The synthetic blend is also called semi-synthetic oil, which is manufactured from conventional and synthetic oil. This oil is manufactured to derive the benefits of both synthetic and conventional oil, while reducing their drawbacks. The synthetic blend provides much better protection and performance.
By sales channel, the market is segmented as Quick Lube, Independent Workshop, Maintenance/Repair Shop, FWS/OEM dealership Service Station, Truck Stop. The Quick Lube segment held the largest market share in 2018. Quick lube service center provides quick, easy, and trusted services to customers to maintain their vehicles. The quick lube service center is primarily focused on the optimization of service quality, employee training and linking the manufacturers, dealers, and repair shops with each other.
Regional Analysis
Geographic analysis of the global automotive motor oil market spans across Europe, Americas, Greater China, Asia-Pacific.
In 2018, Europe dominated with a value of USD 6.31 million metric tons. The regional market value is expected to reach USD 7.47 million metric tons by 2026 with 2.1%CAGR during the forecast period. Europe is one of the prominent markets in the global automotive motor oil market. . The region strategically focuses to achieve a 20% reduction of emission by 2020. The European Union has set several standards for CO2 (carbon dioxide) and CO (carbon monoxide) emissions, which boost the demand for automotive motor oil. Also, manufacturers strategically make investments in the development of automotive motor oil to meet the standard specification regarding emissions. Considering the growing transport sector in Europe, the government agreed to target an emission reduction and set a sustainability-criteria to control fuel emission.The presence of major automotive companies, stringent government norms regarding emission control, and increased investment in the development of automotive motor oil will boost the revenue of Europe/AME during the forecast period. According to the International Trade Centre Statistics of 2018, there has been an increase in the export volume of diesel engines across Europe, which is expected to increase the demand for automotive motor oil.
LIST OF TABLES
Table 1 Global Tool Holder Market, By Region, 2017–2025
Table 2 North America: Tool Holder Market, By Country, 2017–2025
Table 3 Europe: Tool Holder Market, By Country, 2017–2025
Table 4 Asia-Pacific: Tool Holder Market, By Country, 2017–2025
Table 5 Rest Of The World: Tool Holder Market, By Region, 2017–2025
Table 6 Global Tool Holder Market, By Tool Holder Type, By Regions, 2017–2025
Table 7 North America: Tool Holder Market, By Tool Holder Type, By Country, 2017–2025
Table 8 Europe: Tool Holder Market, By Tool Holder Type, By Country, 2017–2025
Table 9 Asia-Pacific: Tool Holder Market, By Tool Holder Type, By Country, 2017–2025
Table 10 Rest Of The World: Tool Holder Market, By Tool Holder Type, By Country, 2017–2025
Continued…….
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LIST OF FIGURES
TABLE 1 LIST OF ASSUMPTIONS 30
TABLE 2 MAJOR GRANTED PATENTS ON AUTOMOTIVE MOTOR OIL (10 OCTOBER 2015 – 10 OCTOBER 2019) 43
TABLE 3 GLOBAL AUTOMOTIVE MOTOR OIL MARKET, BY TYPE 2017–2026 (MILLION METRIC TONS) 46
TABLE 4 GLOBAL AUTOMOTIVE MOTOR OIL MARKET, BY SALES CHANNEL, 2017–2026 (MILLION METRIC TONS) 48
TABLE 5 GLOBAL AUTOMOTIVE MOTOR OIL MARKET, BY VEHICLE TYPE, 2017–2026 (MILLION METRIC TONS) 51
TABLE 6 GLOBAL AUTOMOTIVE MOTOR OIL MARKET, BY REGION, 2017–2026 (MILLION METRIC TONS) 52
TABLE 7 EUROPE/AME: AUTOMOTIVE MOTOR OIL MARKET, BY COUNTRY, 2017–2026 (MILLION METRIC TONS) 54
TABLE 8 EUROPE/AME: AUTOMOTIVE MOTOR OIL MARKET, BY TYPE 2017–2026 (MILLION METRIC TONS) 55
TABLE 9 EUROPE/AME: AUTOMOTIVE MOTOR OIL MARKET, BY SALES CHANNEL, 2017–2026 (MILLION METRIC TONS) 55
TABLE 10 EUROPE/AME: AUTOMOTIVE MOTOR OIL MARKET, BY VEHICLE TYPE, 2017–2026 (MILLION METRIC TONS) 56
Continued…….
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