Global Heavy Duty Motor Oil Market 2015-2019
About heavy duty motor oil
HDMO refers to motor oils for diesel engines used in highway vehicles and in mining and agricultural equipment. HDMO reduces friction and wear and tear of the moving engine's crankshaft, connecting rods, bearings, and pistons. It also serves as an effective coolant while inhibiting the formation of deposits and preventing rust and corrosion.
The market figures in the report includes different viscosity grade variants, namely mono-grade and multi-grade. The report also gives an overview of different function class and chemical class of HDMO additives such as dispersants, antioxidants, and detergents.
Technavio's analysts forecast the global heavy duty motor oil market to grow at a CAGR of 1.98% over the period 2014-2019.
Covered in this report
Technavio’s report, Global Heavy Duty Motor Oil Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from various industry experts. The report includes a comprehensive discussion of the market, an extensive coverage on different types of engine oil standards and specifications, application areas, chemical class, viscosity grades, and demand-supply dynamics in various geographies. The report provides comments on both the existing market landscape and its growth prospects over the forecast period. The report further includes a discussion of the key vendors operating in this market.
The report presents data on the following segments of the market:
Technavio Announces the Publication of its Research Report – Global Heavy Duty Motor Oil Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Heavy Duty Motor Oil Market: BASF, Chevron Oronite, Dow, Lonza and Lubrizol
Other Prominent Vendors in the market are: Chemtura, Evonik, King Industries, Croda, Huntsman, Multisol, and Total.
Commenting on the report, an analyst from Technavio’s team said: “One major trend being observed, particularly in Generation Y, is their care for the environment. A survey reveals that this section of individuals are increasingly questioning the economics of owning a car as a result of its incompatibility with their lifestyles. With a growing urban population and lack of enough infrastructural amenities in most cities, there is an increased occurrence of traffic snarls and pollution exposure.”
According to the report, that growing awareness of energy efficiency has been one of the key drivers behind the growth of this market. This, coupled with an increased demand for automobiles and implementation of new emission control measures by various countries across the world is leading to increased adoption of lubricants and specialty fluids such as HDMO.
Further, the report states that alongside the above changes, increased evolution of electric vehicle is one of the major challenges confronting the market.
BASF, Chevron Oronite, Dow, Lonza, Lubrizol, Chemtura, Evonik, King Industries, Croda, Huntsman, Multisol, Total.
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