Passenger Car Motor Oil (PCMO) Market by Application, Viscosity Grade, and Geography - Forecast and Analysis 2020-2024

  • Published: Dec 2020
  • Pages: 120
  • SKU: IRTNTR44969
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The passenger car motor oil (PCMO) market size has the potential to grow by 508.60 million gallons during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by application (passenger cars and LCVs), viscosity grade (multi-grade engine oils and mono-grade engine oils), and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including BP Plc, Chevron Corp., China National Petroleum Corp., China Petrochemical Corp., Exxon Mobil Corp., FUCHS PETROLUB SE, Idemitsu Kosan Co. Ltd., Royal Dutch Shell Plc, Total SA, and Valvoline Inc.

Market Overview

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Market Competitive Analysis

The PCMO market is fragmented. BP Plc, Chevron Corp., China National Petroleum Corp., and China Petrochemical Corp. are some of the major market participants. Factors such as rising vehicle population leading to high consumption of PCMO, prominence of pure ICE-based vehicles in the automotive market, and continuous enhancement in the motor oil standards will offer immense growth opportunities. However, the high investment needed to make changes to additive technology, the growing popularity of battery-powered vehicles, and increased focus on engine downsizing may impede market growth. To make the most of the opportunities, vendors should focus on growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this passenger car motor oil market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this passenger car motor oil market analysis report provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • BP Plc
  • Chevron Corp.
  • China National Petroleum Corp.
  • China Petrochemical Corp.
  • Exxon Mobil Corp.
  • FUCHS PETROLUB SE
  • Idemitsu Kosan Co. Ltd.
  • Royal Dutch Shell Plc
  • Total SA
  • Valvoline Inc.

 

Passenger Car Motor Oil (PCMO) Market: Segmentation by Geography

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The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. APAC will offer several growth opportunities to market vendors during the forecast period. The automotive industry marching toward the adoption of low viscosity grades, the growing adoption of synthetic motor oils, and the growing use of multi-grade motor oil will significantly influence PCMO market growth in this region.

60% of the market’s growth will originate from APAC during the forecast period. China, Japan, South Korea (Republic of Korea), and India are the key markets for passenger car motor oil in APAC. This report provides an accurate prediction of the contribution of all segments to the growth of the passenger car motor oil market size.

Passenger Car Motor Oil (PCMO) Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive passenger car motor oil market growth during the next five years
  • Precise estimation of the PCMO market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the passenger car motor oil industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of passenger car motor oil market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The passenger car motor oil (pcmo) market growth will increase by $508.60 million gal during 2019-2024.
The passenger car motor oil (pcmo) market is expected to grow at a CAGR of 4.09% during 2019-2024.
Technavio has segmented the passenger car motor oil (pcmo) market by application (Passenger cars and LCVs) and geographic (APAC, Europe, North America, MEA, and South America).
BP Plc, Chevron Corp., China National Petroleum Corp., China Petrochemical Corp., Exxon Mobil Corp., FUCHS PETROLUB SE, Idemitsu Kosan Co. Ltd., Royal Dutch Shell Plc, Total SA, Valvoline Inc. are a few of the key vendors in the passenger car motor oil (pcmo) market.
APAC will register the highest growth rate of 60.31% among the other regions. Therefore, the passenger car motor oil (pcmo) market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • China
  • US
  • Japan
  • Germany
  • South Korea (Republic of Korea)
  • India
The key factors driving the passenger car motor oil (pcmo) market growth are:
  • Rising vehicle population leading to high consumption of PCMO
  • Automotive industry marching toward adoption of low viscosity grades
The passenger car motor oil (pcmo) market vendors should focus on grabbing business opportunities from the passenger cars segment as it accounted for the largest market share in the base year.
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