LONDON–(BUSINESS WIRE)–Technavio has been monitoring the automotive engine oil market and it is poised to grow by 876.17 million L during 2020-2024, progressing at a CAGR of over 3% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions:
What are the major trends in the market?
Advances in engine oil technology is a major trend driving the growth of the market.
At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at 2.23% and the incremental growth of the market is anticipated to be 876.17 million L.
Who are the top players in the market?
Adolf Würth GmbH & Co. KG, BP Plc, Chevron Corp., China Petroleum & Chemical Corp., Exxon Mobil Corp., MOTUL SA, Petroliam Nasional Berhad, Royal Dutch Shell Plc, TOTAL SA, and Valvoline Inc., are some of the major market participants.
What is the key market driver?
The demand for full synthetic engine oil is one of the major factors driving the market.
How big is the APAC market?
The APAC region will contribute 54% of the market share.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Adolf Würth GmbH & Co. KG, BP Plc, Chevron Corp., China Petroleum & Chemical Corp., Exxon Mobil Corp., MOTUL SA, Petroliam Nasional Berhad, Royal Dutch Shell Plc, TOTAL SA, and Valvoline Inc. are some of the major market participants. The demand for full synthetic engine oil will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Automotive Engine Oil Market 2020-2024: Segmentation
Automotive Engine Oil Market is segmented as below:
- Passenger Vehicles
- Commercial Vehicles
- North America
- South America
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Automotive Engine Oil Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The automotive engine oil market report covers the following areas:
- Automotive Engine Oil Market Size
- Automotive Engine Oil Market Trends
- Automotive Engine Oil Market Industry Analysis
This study identifies advances in engine oil technology as one of the prime reasons driving the automotive engine oil market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Automotive Engine Oil Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist automotive engine oil market growth during the next five years
- Estimation of the automotive engine oil market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the automotive engine oil market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of automotive engine oil market vendors
Table of Contents:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market size and forecast 2019-2024
- Market Outlook
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: CUSTOMER LANDSCAPE
PART 07: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 08: MARKET SEGMENTATION BY VEHICLE TYPE
- Market segmentation by vehicle type
- Comparison by vehicle type
- Passenger vehicles – Market size and forecast 2019-2024
- Commercial vehicles – Market size and forecast 2019-2024
- Market opportunity by vehicle type
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Advances in engine oil technology
- Increasing number of launches of automotive engine oil
- Growing uptake of thinner engine oil
PART 12: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Adolf Würth GmbH & Co. KG
- BP Plc
- Chevron Corp.
- China Petroleum & Chemical Corp.
- Exxon Mobil Corp.
- MOTUL SA
- Petroliam Nasional Berhad
- Royal Dutch Shell Plc
- TOTAL SA
- Valvoline Inc.
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.