NEW YORK, May 10, 2016 /PRNewswire/ -- 2015 North American Category Management Report—Lubricants : Synthetic Engine Oil will Become the Sought After Lubricant Because of the Efficiency Factor
Engine oil lubricants can be broadly classified into 3 categories: mineral engine oil, synthetic engine oil, and recycled engine oil. Synthetic engine oil can be further classified into full synthetics and synthetic blends. Replacement rates will likely decrease in the next 3 to 5 years as all forms of engine oil look to increase performance and decrease the frequency of replacement. Traditional market competitors will dominate the North American market. eRetail and eCommerce will likely become the preferred form of service channel for the do-it-yourself category. Market leaders will likely invest in research and development in the quest for better additive components. Synthetic engine oil is better positioned to absorb the advancements in this segment.
Mineral engine oil will drive unit shipment and revenue because of better service and increasing vehicles in operation (VIO).
Revenue will increase from $ Billion in 2015 to an estimated $ Billion in 2022. Unit shipments will rise from Million gallons to approximately Million gallons over the same time frame.
Mineral engine oil is likely to account for about %, while full synthetics and synthetic blends will likely make up % and %, respectively, of the total units sold in gallons from 2015 to 2022.
The average price of conventional full synthetics and synthetic blends is likely to increase in the next to years because of the increase in research and development (R&D), mainly to engineer better additives and alternative base oil components.
Warehouse distributors (WD) make up the largest and most preferred form of distribution network for engine oil distribution.
With %, WDs make up the single most biggest channel of distribution. Auto retailers and eRetailers will likely enjoy higher growth. 4 With %, Mobil is the most preferred engine oil across segments and across all makes in North America.
With %, Castrol is the second most preferred across all automobile makes; however, Castrol with % accounts for the most sought after engine oil for domestic North American vehicles.
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