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Global Motor Oil Market: Analysis & Forecast 2018-2025
by prachitisharma98 · January 24, 2019
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Global Motor Oil Market to reach USD XX billion by 2025.
Global Motor Oil lubricants market shrank further by 1.8 percent as output totaled 1.58 million tons, wheareas a year earlier it had dropped by 4.7 percent. RPI forecasts that the market will continue to shrink at a slower rate. At a later stage, it is expected to rebound demonstrating a 6.2-percent growth by 2020 as total output tops 1.67 million tons.
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Automotive engine oil market is characterized by similar trends. For example Ersan Ilyasova Hawks Jersey , the private passenger vehicles segment declined in 2016 by 2 percent, however, RPI forecasts that in 2017 this trend will be reversed and the segment will slightly grow. By 2025, its growth will have reached 10 percent with total consumption exceeding 540 Dominique Wilkins Hawks Jersey ,000 tons a year.
Meanwhile, the competitive environment has changed significantly over the last two years. In 2014-2016, a large number of foreign engine oil producers with no production plants in Russia lost substantial chunks of their market shares in passenger cars and commercial vehicle segments, mostly due to a steep devaluation of the ruble.
One of the key trends in the automotive engine oil market is the redistribution of consumption via different sales channels. For example Dikembe Mutombo Hawks Jersey , the share of service stations grew from 27 percent in 2014 to 51 percent in 2016 and is expected to surpass the 40-percent mark by 2025, with the independent service stations sector growing at the fastest rate while the share of 鈥済arage鈥?servicing work is going to shrink.
The above-mentioned aspects as well as other market trends and specifics require scrutiny and must be taken into account by both oil producers and distributors when making operational and strategic decisions.
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