The global Engine Oil market size is projected to reach USD 34.82 billion by 2029

Motor oil, engine oil, or engine lubricant is any one of various substances that consist of base oils enhanced with various additives, particularly antiwear additives, detergents, dispersants, and, for multi-grade oils, viscosity index improvers. Motor oil is used for lubrication of internal combustion engines. The main function of motor oil is to reduce friction and wear on moving parts and to clean the engine from sludge (one of the functions of dispersants) and varnish (detergents). It also neutralizes acids that originate from fuel and from oxidation of the lubricant (detergents), improves sealing of piston rings, and cools the engine by carrying heat away from moving parts

According to the new market research report “Global Engine Oil Market Report 2023-2029”, published by GlobalInfoResearch, the global Engine Oil market size is projected to reach USD 34.82 billion by 2029, at a CAGR of 1.2% during the forecast period.

• Global Engine Oil MarketSize(US$ Million), 2018-2029

Source: GlobalInfoResearch, “Global Engine Oil Market 2023 by Manufacturers, Regions, Type and Application, Forecast to 2029”.

• Global Engine Oil Top12Players Ranking and Market Share（Based on data of 2021, Continually updated）

Source: GlobalInfoResearch, “Global Engine Oil Market 2023 by Manufacturers, Regions, Type and Application, Forecast to 2029”.

The global key manufacturers of Engine Oil include Shell, Exxon Mobil, BP, Total, Chevron Corporation, Sinopec Lubricant, Lukoil, Valvoline, CNPC, Petronas, etc. In 2021, the global top five players had a share approximately 48.0% in terms of revenue.

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