North America Automotive Engine Oil Market Outlook

the north american automotive engine oil market is expected to register a healthy growth rate over a period of nearly twelve years from 2018 to 2032. this growth is expected to be supported by the increasing demand for motor vehicle engines, expansion of the automotive aftermarket, and development of new engine technologies. in recent years, the north american automotive engine oil market witnessed notable growth following the increase in demand for engine oil in order to meet the stringent regulations and standards regarding emissions of pollutants and fuel economy. automotive engine oil helps in the safe and long-term operation of an engine’s internal parts, thereby ensuring a better performance of the engine. consequently, manufacturers are increasingly focusing on the use of high-performance engine oils in order to ensure better performance internally and externally. in addition, the rising industry for automotive aftermarket products and services is expected to benefit the north american automotive engine oil market. organizations such as the north american automotive aftermarket suppliers association (naasa) are also engaging themselves in research and development activities for innovative engine oils and lubricants in order to enhance the performance and extend the lifespan of the engines. the improvement in the aftermarket is expected to increase the demand for automotive engine oil. on the other hand, technological advancements such as electric and hybrid vehicles substituted the conventional internal combustion engines and are expected to create challenges for the market. the market is expected to be affected due to the increasing substitution of lubricant oil with electric motor oil in the hybrid vehicles. moreover, high cost of synthetic automotive engine oil is also expected to hinder the market growth as it may become difficult for consumers to purchase them in large numbers. overall, with the rising demand for motor vehicles and advancements in lubricants, the north american automotive engine oil market is expected to experience a healthy growth rate over the forecast period.