Major factor driving growth of the global automotive engine oil market is increasing automotive production. In addition, rising disposable income and rising demand for advanced engine oil from luxury car for greater performance is another factor expected to support growth of the global automotive engine oil market.
The global automotive engine oil market is segmented on the basis of type, distribution channel, and region.
The type segment of global automotive engine oil market is segmented on the basis of conventional engine oil, synthetic engine oil, synthetic blend oil, and high-mileage engine oil.
The distribution channel segment of global automotive engine oil market is segmented on the basis of OEM and Aftermarket.
On the basis of region, the global automotive engine oil market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
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The market in Asia Pacific is expected to account for largest share in the global market in terms of revenue, owing to increasing two wheelers production in countries such as India and China, and presence of major manufacturers in countries in the region. According to India Brand Equity Foundation report sales of two-wheelers in India is expected to grow 8-10 per cent in FY18. The markets in North America and Europe are expected to account for significant revenue shares in the global market. The market in Europe is projected to register lucrative CAGR in terms of revenue over the forecast period, owing to rising spending capacity and presence of major vehicle manufacturers operating in economies in this region.
Key players operating in the global automotive engine oil market include Gazpromneft Lubricants, Ltd., LUKOIL oil company, Royal Dutch Shell plc., Saudi Arabian Oil Co., Exxon Mobil Corporation, Chevron Corporation., Sinopec Lubricant Company, Jiangsu Tech. Company Limited, Castrol Limited, and Ashland Inc.