Global Automotive Engine Oil Market 2018-2022
About Automotive Engine Oil
Automotive engine oil reduces the wear and tear in engine components, such as connecting rods, moving engine’s crankshaft, and bearings. It also prevents rust and corrosion.
Technavio’s analysts forecast Global Automotive Engine Oil market to grow at a CAGR of 4.5% from 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the Global Automotive Engine Oil market for the period 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report - Global Automotive Engine Oil Market 2018-2022.
Technavio recognizes the following companies as the key players in the Global Automotive Engine Oil market for 2018-2022: BP, Chevron, Exxon Mobil, Shell, Valvoline
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is the growing demand for low viscosity engine oil.”
According to the report, one driver in the market is the growing use of synthetic engine oil.
Further, the report states that one challenge in the market is the continuously rising demand for BEVs.