Asia-pacific Automotive Lubricants Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Forecast Data Period | 2024 - 2026 |
| Historical Data Period | 2015 - 2019 |
| CAGR (2024 - 2026) | 4.44 % |
| Market Concentration | High |
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Asia-pacific Automotive Lubricants Market Analysis
The Asia-pacific Automotive Lubricants Market size is estimated at 9.92 Billion Liters in 2024, and is expected to reach 10.82 Billion Liters by 2026, growing at a CAGR of 4.44% during the forecast period (2024-2026).
- Largest Segment by Vehicle Type - Passenger Vehicles : Increasing servicing frequencies and a growing passenger car population in India and ASEAN countries are driving the lubricant consumption in this sector at the highest rate.
- Fastest Segment by Vehicle Type - Passenger Vehicles : The expected recovery in passenger vehicle sales and production in Asia from 2021 is likely to drive the demand for engine oils in this sector during the forecast period.
- Largest Country Market - China : The highest lubricant consumption in China is attributed to the large vehicle fleet of the country and the growing average age of vehicles that require high lubricant usage.
- Fastest Growing Country Market - India : In India, a rebound in the sales of new and used vehicles, supported by increasing travel rates, is projected to augment the demand in the lubricants sector at a high rate.
Asia-pacific Automotive Lubricants Market Trends
This section covers the major market trends shaping the APAC Automotive Lubricants Market according to our research experts:
Largest Segment By Vehicle Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Passenger Vehicles</span>
- In the Asia-Pacific region, motorcycles accounted for a 54.25% share in the total number of on-road vehicles during 2020, followed by passenger vehicles and motorcycles, with 37.9% and 7.85% shares, respectively.
- The passenger vehicles segment accounted for the highest share of 47.17% in the total automotive lubricant volume consumption in 2020, followed by the commercial vehicles segment with a 35.91% share. During the same year, travel restrictions to curb the COVID-19 pandemic significantly affected the usage of these vehicles and their lubricant consumption.
- During 2021-2026, the passenger vehicles segment is expected to witness the highest CAGR of 5.16%. The recovery of passenger vehicle sales, combined with the easing down of COVID-19-related travel restrictions, is likely to be the key factor driving this trend.
Largest Country : <span style="font-family: 'regular_bold';color:#0e7db3;">China</span>
- In Asia-Pacific, China has the highest automotive lubricant consumption, followed by India and Japan. In 2020, China accounted for about 46% of the total automotive lubricant consumption in the region. The country also recorded the largest shares in the consumption of engine oils and greases of about 46.39% and 38.8%, respectively.
- In 2020, the COVID-19 outbreak significantly affected automotive lubricant consumption in many Asia-Pacific countries. The automotive lubricant consumption in Singapore was the most affected, with a 17.4% drop during 2019-2020, whereas China was the least affected, with a 2.19% growth.
- During 2021-2026, India is estimated to be the fastest-growing lubricant market, as the consumption is likely to record a CAGR of 6.31%, followed by China and Indonesia, at an estimated CAGR of 5.41% and 5.20%, respectively.
Asia-pacific Automotive Lubricants Industry Overview
The Asia-pacific Automotive Lubricants Market is moderately consolidated, with the top five companies occupying 49.76%. The major players in this market are BP PLC (Castrol), China National Petroleum Corporation, China Petroleum & Chemical Corporation, ExxonMobil Corporation and Royal Dutch Shell Plc (sorted alphabetically).
Asia-pacific Automotive Lubricants Market Leaders
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BP PLC (Castrol)
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China National Petroleum Corporation
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China Petroleum & Chemical Corporation
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ExxonMobil Corporation
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Royal Dutch Shell Plc
*Disclaimer: Major Players sorted in no particular order
Asia-pacific Automotive Lubricants Market News
- January 2022: Effective April 1, ExxonMobil Corporation was organized along three business lines - ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon Solutions.
- December 2021: ExxonMobil introduced a line of synthetic engine oils, i.e., Mobil Super Pro, for SUVs in India.
- October 2021: Castrol, one of Malaysia's major automotive lubricant manufacturers, introduced Castrol Power1 Ultimate, a brand-new type of 100% synthetic engine oil that promises exceptional performance and endurance.
Asia-pacific Automotive Lubricants Market Report - Table of Contents
1. Executive Summary & Key Findings
2. Introduction
- 2.1 Study Assumptions & Market Definition
- 2.2 Scope of the Study
- 2.3 Research Methodology
3. Key Industry Trends
- 3.1 Automotive Industry Trends
- 3.2 Regulatory Framework
- 3.3 Value Chain & Distribution Channel Analysis
4. Market Segmentation
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4.1 By Vehicle Type
- 4.1.1 Commercial Vehicles
- 4.1.2 Motorcycles
- 4.1.3 Passenger Vehicles
-
4.2 By Product Type
- 4.2.1 Engine Oils
- 4.2.2 Greases
- 4.2.3 Hydraulic Fluids
- 4.2.4 Transmission & Gear Oils
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4.3 By Country
- 4.3.1 China
- 4.3.2 India
- 4.3.3 Indonesia
- 4.3.4 Japan
- 4.3.5 Malaysia
- 4.3.6 Philippines
- 4.3.7 Singapore
- 4.3.8 South Korea
- 4.3.9 Thailand
- 4.3.10 Vietnam
- 4.3.11 Rest of Asia-Pacific
5. Competitive Landscape
- 5.1 Key Strategic Moves
- 5.2 Market Share Analysis
-
5.3 Company Profiles
- 5.3.1 BP PLC (Castrol)
- 5.3.2 CHEVRON CORPORATION
- 5.3.3 China National Petroleum Corporation
- 5.3.4 China Petroleum & Chemical Corporation
- 5.3.5 ENEOS Corporation
- 5.3.6 ExxonMobil Corporation
- 5.3.7 GS Caltex
- 5.3.8 Idemitsu Kosan Co. Ltd
- 5.3.9 Indian Oil Corporation Limited
- 5.3.10 Motul
- 5.3.11 PT Pertamina
- 5.3.12 Royal Dutch Shell Plc
- 5.3.13 TotalEnergies
- *List Not Exhaustive
6. Appendix
- 6.1 Appendix-1 References
- 6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
Asia-pacific Automotive Lubricants Industry Segmentation
| By Vehicle Type | Commercial Vehicles |
| Motorcycles | |
| Passenger Vehicles | |
| By Product Type | Engine Oils |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils | |
| By Country | China |
| India | |
| Indonesia | |
| Japan | |
| Malaysia | |
| Philippines | |
| Singapore | |
| South Korea | |
| Thailand | |
| Vietnam | |
| Rest of Asia-Pacific |
Asia-pacific Automotive Lubricants Market Research FAQs
How big is the Asia-pacific Automotive Lubricants Market?
The Asia-pacific Automotive Lubricants Market size is expected to reach 9.92 billion Liters in 2024 and grow at a CAGR of 4.44% to reach 10.82 billion Liters by 2026.
What is the current Asia-pacific Automotive Lubricants Market size?
In 2024, the Asia-pacific Automotive Lubricants Market size is expected to reach 9.92 billion Liters.
Who are the key players in Asia-pacific Automotive Lubricants Market?
BP PLC (Castrol), China National Petroleum Corporation, China Petroleum & Chemical Corporation, ExxonMobil Corporation and Royal Dutch Shell Plc are the major companies operating in the Asia-pacific Automotive Lubricants Market.
Which segment has the biggest share in the Asia-pacific Automotive Lubricants Market?
In the Asia-pacific Automotive Lubricants Market, the Passenger Vehicles segment accounts for the largest share by vehicle type.
Which country has the biggest share in the Asia-pacific Automotive Lubricants Market?
In 2024, China accounts for the largest share by country in the Asia-pacific Automotive Lubricants Market.
What years does this Asia-pacific Automotive Lubricants Market cover, and what was the market size in 2023?
In 2023, the Asia-pacific Automotive Lubricants Market size was estimated at 9.45 billion Liters. The report covers the Asia-pacific Automotive Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-pacific Automotive Lubricants Market size for years: 2024, 2025 and 2026.
Asia-pacific Automotive Lubricants Industry Report
Statistics for the 2024 Asia-pacific Automotive Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-pacific Automotive Lubricants analysis includes a market forecast outlook 202 and historical overview. Get a sample of this industry analysis as a free report PDF download.
