Automotive Engine Oil Industry will exhibit a CAGR of 2.88% and reach USD 45.66 billion by 2026, and the market value as per 2018 was USD 36.49 billion.
Fortune Business Insights™ provided this information in a recent report, titled, “Automotive engine oil industry Size, Share & Industry Analysis, By Grade (Mineral, Synthetic and Semi-synthetic), By Engine Type (Diesel, Petrol, Alternative Fuel), By Application Area (Passenger Vehicle, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV), Two Wheeler, and Other), and Regional Forecast, 2019-2026.”
The Automotive Engine Oil Industry Drivers and Restraints:
The market is anticipated to be affected positively owing to the increasing demand for synthetic automotive engine oil. It is mainly considered to be a replacement for mineral based engine oil.
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List of Significant Manufacturers in Automotive Engine Oil Industry are:
- ExxonMobil Corporation
- Valvoline, Inc.
- Fuchs Petrolub SE
- Royal Dutch Shell plc
- Pentagon Lubricants Private Limited
- HINDUJA GROUP
- Chevron Corporation
- Total S.A.
- Other players
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North America Emerged Dominant Attributed to Stringent Rules Imposed on Mandatory Use of Safety Equipment
Region-wise, North America earned a revenue of USD 1.71 billion in the year 2019 and received the highest personal protective equipment (COVID-19) in healthcare market share.
Some of the key industry developments in the Automotive Engine Oil Industry Include:
- September 2020: RelaDyne joined hands with Circle Lubricants to broaden its geographic presence in the Northeast. It would also help the company in delivering its automotive and lubricant products throughout New Jersey, New York, and its surrounding areas.
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