Automotive Engine Oil Market Share

The Asia Pacific region automotive engine oil market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The increasing demand and sale of commercial vehicles in the region. For instance, India witnessed an increase in the sales of commercial vehicles by 8.21% with 54,000 vehicles sold in August 2021 going up to 67,100 vehicles sold in August 2022. In addition, the presence of a large customer population, increasing production of automobiles, and rise in crude oil production in countries such as China coupled with rising government funding and investments in product advancement are contributing factors expected to drive regional market growth over the forecast period.