Global Car Engine Oil Market
Car Engine Oil Market Size And Forecast
According To Verified Market Research, Global Car Engine Oil Market is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2019 to 2026.
Global Car Engine Oil Market Outlook
Growing sales of passenger cars owing to ambition or desire to own a private car are driving the growth of the market. Government subsidies for car loans and leasing are another secondary factor to contribute growth. Automotive vehicle sale has been rising constantly provided by economic growth, high disposable income, and high spending power of consumers. The Asia Pacific is identified as one of the most attractive markets. Consumer awareness about fuel efficiency and high-performance variants are generating new opportunities for the growth in the market. However, the electrification of a passenger car is a new challenge for the market. Electrical vehicle needs lubricants that can meet specific requirements. Maintaining an EV motor is a different job from the IC engine. The engine requires different oil to minimize engine friction and transmission fuel.
Global Car Engine Oil Market Competitive Landscape
The Global Automotive Engine Oil Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as Motul, ENI GmbH, Valvoline, ExxonMobil Corporation, Sinopec Petroleum & Chemical Corp, Petroliam Nasional Berhad (PETRONAS), Fuchs Petrolub SE, Castrol, and Royal Dutch Shell PLC.
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