Passenger Car Motor Oil (PCMO): Worldwide Market Outlook to 2022, Dominated by BP, Chevron, Exxon Mobil, Shell, Total, and Valvoline – ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Global Passenger Car Motor Oil (PCMO) Market 2018-2022" report has been added to ResearchAndMarkets.com's offering.
It is predicted that this market will grow at a CAGR of more than 4 % by 2022.
Modern car engines are produced to be compatible to use low-viscosity engine oil that reduces internal drag. Low-viscosity engine oil increases the vehicle's fuel efficiency by maintaining optimal performance of the engine. It also reduces the exhaust emissions and increases engine responsiveness.
New vehicles are benefiting from these developments and with the emergence of stringent regulations, the demand for low-viscosity grade motor oil is expected to increase significantly, contributing to the growth of the passenger car motor oil (PCMO) market.
Rising vehicle population leading to high consumption of PCMO
The demand for passenger cars is growing from the middle-class income group, especially in countries such as China and India, boosting the sales of passenger cars globally. Therefore, the increasing number of vehicles in use across the world will drive the growth of the passenger car motor oil market during the forecast period.
High investment required to change the additive technology
Emission standards are witnessing constant evolution across the world, leading to several developments to improve the efficiency of modern vehicles. Thus, motor oil vendors need to deal with a huge cost pressure to test the changes occurring in these standards. This presents a major challenge to the growth of the global PCMO market.
Competitive Landscape
With the presence of a considerable number of companies, this market appears to be fragmented. This market research report will help clients identify new growth opportunities. Several companies in the PCMO market are focusing on developing low-viscosity grade motor oil that are compatible with new modern vehicle engines.
Key Players- BP
- Chevron
- Exxon Mobil
- Shell
- Total
- Valvoline
Topics Covered
1. Executive Summary
2. Scope of the Report
3. Research Methodology
4. Market Landscape
5. Market Sizing
6. Five Forces Analysis
7. Market Segmentation by Application
8. Customer Landscape
9. Market Segmentation by Viscosity Grade
10. Regional Landscape
11. Decision Framework
12. Drivers and Challenges
13. Market Trends
14. Vendor Landscape
15. Vendor Analysis For more information about this report visit https://www.researchandmarkets.com/research/wbnqk4/passenger_car?w=4Contacts
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Related
Topics: Oil,
Cars,
Lubricants
and Greases