The automotive industry comprises a wide range of companies and organizations involved in the design, development, manufacturing, marketing, and selling of motor vehicles.
The automotive industry is a major industrial and economic force worldwide. It makes 60 million cars and trucks a year, and they are responsible for almost half the world’s consumption of oil.
In automotive industries of the other belligerents were smaller in scale, and their facilities for armaments manufacture were proportionately greater than in the United States or Great Britain.
In Automotive Industry, oil required for the maintenance of the automobiles is at its peak. All these factors lead to the growth of global automotive oil & fuel market.
However, the surging cost of the fuels such as diesel and gasoline are leading to the unaffordability of the use of automobiles that can slowdown the growth of automotive oil & fuel market. Also, the risk of explosion of vehicles, specially the vehicles running on gas is scaring people to opt for these kinds of vehicles that can again hamper the automotive oil & fuel market.