Lewes, DE -- (SBWIRE) -- 01/11/2017 -- Report forecast the global aftermarket for engine oil in passenger cars to grow at a CAGR of 3.21% during the period 2016-2020.

Engine oil in passenger cars is used to reduce friction and wear and tear of the connecting rods and moving engine crankshaft, bearings, and pistons. Engine oil serves as an effective coolant as it prevents the formation of rust and corrosion. Synthetic engine oils are now being widely accepted as the standard engine oil by OEMs due to better compatibility with the environment as well as technical benefits over conventional mineral oil engine oils.

The report covers the present scenario and the growth prospects of the global aftermarket for engine oil in passenger cars for 2016-2020. To calculate the market size, the report considers the number of parc vehicles, average engine oil capacity of the vehicles, and average distance required for changing engine oil in cars in different regions.

The market is divided into the following segments based on geography:
- Americas
- APAC
- Europe

According to the report, one of the major drivers for this market is rise in number of parc vehicles. There has been a continuous increase in the number of parc vehicles across all regions. The major factors contributing to the rise of parc vehicles is the continuous rise in the number of new registrations and longer life of cars, pushing the car parc number across the world. As a result, there is less scrappage of cars.

Further, the report states that one of the major factors hindering the growth of this market is increased focus on downsizing of engines. The downsizing of engines is a major challenge for this market as it leads to decrease in the consumption of engine oil, negatively affecting the total revenue earned by the firms operating in this market. OEMs are focusing more to downsize the capacity of the already downsized engines to make it even more powerful and more efficient at the same time.

Global Aftermarket for Engine Oil in Passenger Cars 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global aftermarket for engine oil in passenger cars: Shell, ExxonMobil, and British Petroleum.

Other Prominent Vendors in the market are: Castrol, Gulf Oil, Motorcraft, and Valvoline.

Market driver
- Rise in number of parc vehicles
- For a full, detailed list, view our report

Market challenge
- Increased focus on downsizing of engines
- For a full, detailed list, view our report

Market trend
- Growing use of synthetic oils in APAC
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 55 pages and 30 Exhibits "Global Aftermarket for Engine Oil in Passenger Cars 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by engine capacity type, Geographical segmentation, Key leading countries, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/global-aftermarket-engine-oil-passenger-cars-2016-2020

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