What is Vehicle Motor Oil Market?
Vehicle motor oil is designed to lubricate the inner components of internal combustion engines as well as to protect them against corrosion and keep them cool while in use. It is made up of base stock and additives. The base stock is made up of petroleum, synthetic chemicals or a mixture of two. The base stock lubricates engine’s moving parts and removes built-up heat. The additives are made up of oils and chemicals that are responsible for controlling oil viscosity and lubricity.
The market study is being classified, by Application (Passenger Cars, Light Commercial Vehicles, Heavy-Duty Vehicles and Motorcycles) and major geographies with country level break-up.
Saudi Arabian Oil Co. (Saudi Arabia), Total S.A. (France), Gazprom (Russia), ROSNEFT (Russia), LUKOIL oil company (Russia), Royal Dutch Shell Plc. (Netherlands), ExxonMobil Corporation (United States), Chevron Corporation (United States), Sinopec (China) and Jiangsu Lopal Tech. Co., Ltd. (China) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Ashland Inc. (United States), Motul (France) and Fuchs Petrolub (Germany).
Research Analyst at AMA predicts that Global Vendors will contribute to the maximum growth of Global Vehicle Motor Oil market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Vehicle Motor Oil market by Type, Application and Region.
On the basis of geography, the market of Vehicle Motor Oil has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Demand from Automotive Industry
- Increasing Number of Vehicles Worldwide
- Helps To Improve Performance of the Vehicles
Market Trend
- Rising Demand for Bio-Based Oils
Restraints
- Entrance of the Electric Vehicles in the Market
Opportunities
- Rising Demand from Developing Countries like China and India
- Increasing Awareness about Benefits of the Motor Oils among People
Challenges
- Presence of Low-Quality Oils in Cheaper Rates
On 20th Jun 2018, Royal Dutch Shell plc. and Maserati introduced a brand new co-branded motor oil known as Shell Helix Ultra Maserati 10W-60 the only recommended on all Maserati’s 2018 models across the globe equipped with the V6 Gasoline engine. This new product follows the previous Shell Helix Ultra Maserati 5W-40 for Maserati’s 2017 models. This new co-branded motor oil is part of Shell’s ongoing deal with Maserati as its exclusive lubricants supplier, which runs until 2020.
Key Target Audience
Vehicle Motor Oil Manufacturers, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user