Global Engine Oil Market is expected to grow at a significant CAGR in the upcoming years as the scope, product types and its applications are increasing across the globe. Lubrication is the key function of the engine oil. The engine oil lubricates the engine parts for its effective movement, thus reducing the extent of metal friction, contact, and heat generation within the engine. In addition, cooling and cleaning the engine parts, rust prevention, and sealing the gaps are the other functions carried out by the engine oil.

Moreover, the Engine oils are prepared by adding materials such as viscosity index improvers, metal detergents, antioxidants, and the others to the base oil. The kind of oil used in vehicles differs dependent upon the engine type. Engine Oil Market is categorized based on product type, vehicle type, engine type, application and geography.

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The market is categorized based on product types such as Conventional Engine Oil, Synthetic Engine Oil, High-Mileage Engine Oil, Synthetic Blend Oil. Engine Oil Market is categorized based on vehicle type such as Passenger Car, Commercial Vehicle, Motorcycle. Engine Oil industry is categorized based on engine type into Gasoline, Diesel, Natural Gas. The market is categorized based on application into Automotive, Industrial.

Engine Oil Market is categorized based on geography into Asia Pacific (China, India, ASEAN, Australia & New Zealand), Japan, Middle East and Africa (GCC countries, S. Africa, Rest Of MEA), North America (U.S., Canada), Latin America (Brazil, Rest of Latin America), Western Europe (Germany, Italy, France, England, Spain, Rest of Western Europe), and Eastern Europe (Poland, Russia, Rest of Eastern Europe).

North America has been at the forefront with regards to Engine Oil Market and will continue to rule the roost in the years to come. Some of the key players that fuel the growth of the Engine Oil Industry include BP, Exxon Mobil, Total Lubricants, Dow Corning, Petro-Canada, Axel Christiernsson, FUCHS, Chevron, LUKOIL, Shell, SKF, Indian Oil Corporation, CNOOC, Sinopec, Quaker Chemical, CNPC, JX Nippon Oil & Energy Corporation, Southwestern Petroleum Corporation, Klüber. The key players are focusing on inorganic growth to sustain themselves amidst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.

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