Global Automotive Oil Recycling Market Overview:
Automotive Oil Recycling is the process of restoring the properties of used oil in order to make it usable for other applications. These oils are used in vehicles and also are used for industrial applications. It also involves different methods that include filtering, which helps in removing solids present in oils. The government agency also is contributing to recycling oil. For example, regulatory agencies across the world are increasingly engaging in initiatives in educating about the vast health hazards of the inadequate disposal of used automotive oil. The rising number of automobiles across the globe is driving the market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Growing Trend of Automobiles oil Recycling in Developing Countries and A Range of Automotive Manufacturers have Become Aware of the huge Environmental Significance of Automotive Oil Recycling is also Trending
Market Growth Drivers:
The Constant Focus of Regulatory Agencies to Prolong the Utility of Automotive Fluids is Driving the Market and Increasing Number of Automobiles Across the World
Challenges:
Issue Related Towards the Content of the Highly Toxic Material While These Oils are in the Processing
Restraints:
Rising Supply of Counterfeit Engine Oil Product is Hampering the Market and Government Regulations Regarding the Emission are Anticipated to Restrain the growth of this Market
Opportunities:
Growing Demand for Re-Refined used Oil in a Petroleum Refinery is also Boosting the Automotive Oil Recycling Market and Increase in Government Regulations on Automotive Oil Recycling Market During the Forecast Period
Competitive Landscape:
Some of the key players profiled in the report are Auto Blue Oils (South Africa), Terrapure Environmental (United States), Recycle Oil Company (United States), Safety-Kleen Systems, Inc (United States), Waste360 (United States), Wren Oil (Australia), Heritage-Crystal Clean, Inc (United States), Clean Harbors (United States), Fluid Solutions GmbH (Germany) and FCC Austria Abfall Service AG (Austria). Additionally, following companies can also be profiled that are part of our coverage like NOCO (United States), Dirk Group (United Kingdom), World Oil Corp (United States), Illinois Recovery Group Inc. (IRG) (United States) and Veolia (France). Analyst at AMA Research see United States Vendors to retain maximum share of Global Automotive Oil Recycling market by 2028. Considering Market by Refining Process, the sub-segment i.e. Distillation will boost the Automotive Oil Recycling market.
Latest Market Insights:
In March 2021, GFL Environmental Inc., a leading North American diversified environmental services company, acquired Terrapure Environmental Ltd. and its subsidiaries' solid waste and environmental solutions business for a total purchase price of CAD 927.5 million. The acquisition excluded the battery recycling business carried out by Terrapure.
In July 2019, in Newfoundland and Labrador, there was an upcoming recycling program coupled with Canada that is also aiming to recycle automotive oil and other products for the dealership as well as garages. The company planned to recycle around 7000 liters of oil annually.
What Can be Explored with the Automotive Oil Recycling Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Automotive Oil Recycling Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Automotive Oil Recycling
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Automotive Oil Recycling market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Automotive Oil Recycling market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Potential Investors, Government Bodies and Associations, Up and Down Stream Vendors, Private Research Organizations, Suppliers and Distributors and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.