The global engine oil market is forecasted to experience sustained growth.
The global engine oil market is expected to achieve steady growth, with a projected compound annual growth rate (CAGR) of 3.1% during the forecast period from 2023 to 2031. The market size is anticipated to increase from 41.7 billion USD in 2022 to 54.8 billion USD by 2031. Factors driving market growth include the increasing penetration rate of automobiles, the development of transportation infrastructure, and the rise in the number of vehicles owned. Additionally, with advancements in engine technology, the demand for high-performance engine oils is also on the rise. For application methods, please check the [PDF download] button or apply directly through the related links.
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Major Companies: TotalEnergies Shell Chevron Corporation Saudi Arabian Oil Co. RN-Lubricants LLC GS Caltex India Vip Oil Products Ltd. Ashland Inc. BP plc. Gazpromneft Lubricants Ltd Adolf Würth GmbH & Co. KG JIANGSU LOPAL TECH. CO. LTD Exxon Mobil Corporation Lukoil Castrol Limited Valvoline Amsoil Inc. By Grade: Mineral Semi-synthetic Fully synthetic By Sales Channel: OEM Aftermarket By Engine Type: Gasoline Diesel By Vehicle Type: Passenger Cars Light Commercial Vehicles Heavy Commercial Vehicles Motorcycles
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