Growth projected in OEM genuine oil heavy-duty market

摘要

Vehicle manufacturers protect their engines while creating additional revenue streams. The heavy-duty motor oil (HDMO) market is projected to grow steadily and slowly over the next few years as the commercial vehicle market continues to expand. OEM genuine oil use in this market is still relatively minor and in the U.S. accounts for around 8% market share. While some off-highway OEMs such as John Deere have had a genuine oil for quite some time, others have only recently begun to introduce their own genuine oils or have begun promoting genuine oil use. The increasing availability of genuine oils, OEMs looking to promote genuine oil and parts (fleet expansion and replacement of older vehicles) is projected to help grow the genuine oil share at nearly 5% (compound annual growth rate) in the U.S. (see Figure 1).