US Automotive Engine Oil Market Overviews
The US Automotive Engine Oil Market size was valued at USD 2.91 Bn. in 2023 and the total US Automotive Engine Oil revenue is expected to grow at a CAGR of 0.95% from 2024 to 2030, reaching nearly USD 3.11 Bn.
Automotive engine oil, commonly known as motor oil, is essential for maintaining engine health. It minimizes friction between moving parts, promoting efficient operation and reducing wear. Additionally, it serves as a coolant, absorbing and dissipating heat generated during combustion to prevent overheating. The oil’s cleaning properties help capture contaminants, preventing sludge accumulation and keeping the engine clean. Furthermore, it offers corrosion protection by neutralizing acids and preventing rust. Engine oil also plays a crucial role in sealing gaps between components, ensuring optimal performance and enhancing fuel efficiency.
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US Automotive Engine Oil Market Scope and Methodology:
The relationship between increasing vehicle sales and fleet size and the US automotive engine oil market is complex. This growth presents opportunities for innovation but also raises concerns regarding sustainability, competition, and environmental implications. Stakeholders in the US automotive engine oil market must navigate these challenges by investing in responsible practices, technological advancements, and alternative solutions. The effects of rising vehicle sales differ across various segments and oil types, with government policies related to fuel efficiency, emissions, and recycling significantly influencing the market. Additionally, the rise of electric vehicles and alternative lubricants could disrupt the traditional market landscape over the long term.
US Automotive Engine Oil Market Regional Insights
Mineral oil exhibits inferior performance compared to synthetics, with higher wear susceptibility, increased volatility, and subpar extreme temperature performance. Its shorter lifespan necessitates more frequent oil changes, elevating maintenance costs and environmental impact. The higher refining demands and shorter longevity make mineral oil less environmentally friendly, contributing to declining US Automotive Engine Oil market demand as consumers increasingly prefer the superior performance and longer lifespans of synthetic and semi-synthetic oils.
US Automotive Engine OilMarket Segmentation
Based on grade, the mineral segment captured the largest market share, approximately 57%, in the US Automotive Engine Oil Market in 2023. According to the STELLAR analysis, this segment is projected to grow at a CAGR of 0.95% during the forecast period. Its dominance in the US Automotive Engine Oil Market can be attributed to rapid technological advancements and the increasing adoption of smart devices with data connectivity and integration.
US Automotive Engine Oil Market Key Players
ExxonMobil Corporation
Chevron Corporation
Royal Dutch Shell
BP plc
Valvoline Inc.
TotalEnergies
Phillips 66
Petro-Canada Lubricants
AMSOIL Inc.
Castrol (BP Castrol)
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Key questions answered in the US Automotive Engine Oil Market are:
- What is US Automotive Engine Oil ?
- What was the US Automotive Engine Oil market size in 2023?
- What is the growth rate of the US Automotive Engine Oil Market?
- Which are the factors expected to drive the US Automotive Engine Oil market growth?
- What are the different segments of the US Automotive Engine Oil Market?
- What growth strategies are the players considering to increase their presence in US Automotive Engine Oil ?
- What are the upcoming industry applications and trends for the US Automotive Engine Oil Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the US Automotive Engine Oil Market?
- Who are the leading companies and what are their portfolios in US Automotive Engine Oil Market?
- What segments are covered in the US Automotive Engine Oil Market?
- Who are the key players in the US Automotive Engine Oil market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
About Stellar Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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