Market Size of Asia-pacific Automotive Lubricants Industry
| 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.
