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Asia-pacific Automotive Lubricants Market Size

Statistics for the 2023 & 2024 Asia-pacific Automotive Lubricants market size, created by Mordor Intelligence™ Industry Reports. Asia-pacific Automotive Lubricants size report includes a market forecast to 202 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Asia-pacific Automotive Lubricants Industry

Asia-pacific Automotive Lubricants Market Summary
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

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 SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2026