Market Size of Asia-pacific Automotive Engine Oils Industry
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Forecast Data Period | 2024 - 2026 |
| Historical Data Period | 2015 - 2019 |
| CAGR (2024 - 2026) | 4.30 % |
| Market Concentration | High |
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APAC Automotive Engine Oils Market Analysis
The Asia-pacific Automotive Engine Oils Market size is estimated at 7.63 Billion Liters in 2024, and is expected to reach 8.30 Billion Liters by 2026, growing at a CAGR of 4.30% during the forecast period (2024-2026).
- Largest Segment by Vehicle Type - Passenger Vehicles : The large population of passenger cars, high travel rates, and short service frequencies are the factors driving the engine oil consumption in the passenger vehicle segment.
- Fastest Segment by Vehicle Type - Motorcycles : Increasing servicing frequencies and the growing motorcycle population in India and ASEAN countries are driving engine oil consumption in this sector at a high rate.
- Largest Country Market - China : The high lubricant consumption in China can be attributed to the vehicle fleet in the country and the growing average age of the vehicles that need high lubricant usage.
- Fastest Growing Country Market - India : The gradual recovery in the average travel rate and the rise in sales of vehicles in 2021 are expected to boost the demand for engine oils in India in the coming years.
