IMARC Group’s latest research report, titled “Passenger Car Motor Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
The global passenger car motor oil market size reached US$ 19.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 21.8 Billion by 2027, exhibiting a growth rate (CAGR) of 1.8% during 2022-2027. Passenger car motor oil (PCMO) is generally utilized for protecting and enhancing the overall functioning of engines in passenger cars. It helps in minimizing the friction created in the moving parts by lubricating the internal combustion engines. Additionally, it prevents the occurrence of corrosion and rust while restricting the formation of deposits in the engine. The demand for passenger car motor oil is increasing across the globe due to the growing manufacturing of vehicles.
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Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation by product type, ingredient, distribution channel and application.
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape for Passenger Car Motor Oil Market
- Strategies of major players and product offerings
The global market is majorly driven by the rising adoption of passenger cars among the masses. This is attributed to the inflating disposable incomes and shifting lifestyle preferences of individuals. Apart from this, the increasing need for high-performance motor oils due to the implementation of tactical vehicle mechanisms by automobile manufacturers, coupled with continual technological advancements, is creating a positive outlook for the market. Some of the other factors driving the market include rapid urbanization, automotive industry expansion, and road infrastructure development.
COVID-19 Impact Overview:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Key Market Segmentation:
Market Breakup by Viscosity Grade:
- SAE 40
- SAE 30
- SAE 50
- SAE 20
Market Breakup by Type:
- Full Synthetic
- Synthetic Blend
- High Mileage
Market Breakup by Region:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
TOC for the Passenger Car Motor Oil Market Research Report:
- Scope and Methodology
- Executive Summary
- Global Passenger Car Motor Oil Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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