Quick Summary:
The global passenger car motor oil (PCMO) market offers compelling growth prospects driven by vital factors shaping the automotive sector. PCMO is essential to the efficient functioning of passenger car engines. Its superior lubricating properties mitigate the friction in the engine's moving components, prevent rust, inhibit deposit formation and contribute significantly to the longevity and reliability of engine components.
A surge in passenger car sales, in both developed and developing regions, signals robust demand for PCMO. Increasing consumer awareness concerning high-quality motor oils is further catalyzing the shift from mono-grade to multi-grade oils. This ongoing transformation contributes substantially to enhancing pumpability, performance efficiency, and mileage even in cold start-up conditions. The extensive analysis provided in this report provides valuable insights into sub-segment trends in viscosity grade and types at a global and regional level, alongside a detailed investigation of the competitive landscape of the market, equipping potential investors with proactive strategies in this burgeoning field.
Passenger car motor oil, or PCMO, helps in protecting and improving the overall functioning of engines in passenger cars. The motor oil lubricates the internal combustion engines which reduces the friction created in the moving parts. Passenger car motor oils are made from a combination of base oils that are obtained from petroleum-based hydrocarbons. These oils prevent the occurrence of corrosion and rust as well as obstruct the formation of deposits in the engine.
On account of factors such as increasing population, rising income levels, improving road infrastructure, etc., the sales of passenger cars are rising across both developed and developing regions. This has created a positive impact on the demand of passenger car motor oils. Moreover, across developed regions like Europe and North America, consumers are becoming aware of the benefits offered by high-quality motor oils. For instance, there has been a shift among consumers form mono-grade to multi-grade oils, which offer improved pumpability, mileage and performance efficiency in cold start-up temperatures by reducing the startup lead time. Moreover, passenger car motor oils also provide benefits in terms of reduction of friction and wear, equipment protection, temperature control, increased lifespan and efficiency, and enhance the reliability of engine components.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global passenger car motor oil market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on viscosity grade and type.Breakup by Viscosity Grade:
- Multi Grade
- 25W-50/25W-60
- 15W-40/15W-50
- 20W-40/20W-50
- 10W-30/10W-40
- Mono Grade
- SAE 40
- SAE 30
- SAE 50
- SAE 20
Breakup by Type:
- Full Synthetic
- Synthetic Blend
- Conventional
- High Mileage
Regional Insights
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
Competitive Landscape:
The report has also analysed the competitive landscape of the market along with the profiles of the key players.Key Questions Answered in This Report:
- How has the global passenger car motor oil market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global passenger car motor oil industry?
- What has been the impact of COVID-19 on the global passenger car motor oil industry?
- What is the breakup of the market based on the viscosity grade?
- What is the breakup of the market based on the type?
- What are the various stages in the value chain of the global passenger car motor oil industry?
- What are the key driving factors and challenges in the global passenger car motor oil industry?
- What is the structure of the global passenger car motor oil industry and who are the key players?
- What is the degree of competition in the global passenger car motor oil industry?
- What are the profit margins in the global passenger car motor oil industry
What is the estimated value of the Global Passenger Car Motor Oil Market?
What is the growth rate of the Global Passenger Car Motor Oil Market?
What is the forecasted size of the Global Passenger Car Motor Oil Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 141 |
| Published | July 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 20.1 Billion |
| Forecasted Market Value ( USD | $ 22.2 Billion |
| Compound Annual Growth Rate | 1.7% |
| Regions Covered | Global |
Table of Contents
Methodology
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