Automotive Engine Oil Market to Grow by 876.17 Million L in 2020, Adolf Wurth GmbH & Co. KG and BP Plc Emerge as Key Contributors to Growth | Technavio
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. Download a Free Sample Report on COVID-19
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries. However, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a Low impact on the automotive engine oil market. The market growth in 2020 is likely to increase compared to the market growth in 2019.
Frequently Asked Questions-
Based on segmentation by vehicle type, which is the leading segment in the market?
The passenger vehicles are expected to be the leading segment based on vehicle type in the global market during the forecast period.
What are the major trends in the market?
APAC driving market revenue is one of the major trends in the market.
At what rate is the market projected to grow?
Growing at a CAGR of over 3%, 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 are the key market drivers and challenges?
Growing number of vehicles-in-use is one of the major factors driving the market. However, the fluctuating crude oil prices restraints the market growth.
How big is the APAC market?
The APAC region will contribute 54% of market growth.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Adolf Wurth GmbH & Co. KG, BP Plc, Chevron Corp., China Petrochemical 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 growing number of vehicles-in-use will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this automotive engine oil market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
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 Analysis
This study identifies APAC driving market revenue 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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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:
Executive Summary
Market Landscape
Market ecosystem
Value chain analysis
Market Sizing
Market definition
Market segment analysis
Market size 2019
Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
Five forces summary
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market condition
Market Segmentation by Vehicle Type
Market segments
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
Customer Landscape
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 by geography
Market drivers
Market challenges
Market trends
Vendor Landscape
Vendor landscape
Landscape disruption
Vendor Analysis
Vendors covered
Market positioning of vendors
Adolf Wurth GmbH & Co. KG
BP Plc
Chevron Corp.
China Petrochemical Corp.
Exxon Mobil Corp.
MOTUL SA
Petroliam Nasional Berhad
Royal Dutch Shell Plc
Total SA
Valvoline Inc.
Appendix
Scope of the report
Currency conversion rates for US$
Research methodology
List of abbreviations
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