Market Size of Asia-pacific Passenger Vehicles Lubricants Industry
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Forecast Data Period | 2024 - 2026 |
| Historical Data Period | 2015 - 2019 |
| CAGR (2024 - 2026) | 4.81 % |
| Market Concentration | High |
APAC Passenger Vehicles Lubricants Market Analysis
The Asia-pacific Passenger Vehicles Lubricants Market size is estimated at 4.77 Billion Liters in 2024, and is expected to reach 5.24 Billion Liters by 2026, growing at a CAGR of 4.81% during the forecast period (2024-2026).
- Largest Segment by Product Type - Engine Oils : Engine oil is the leading product type due to its high volume requirements and low drain intervals. It is used for high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Transmission & Gear Oils : The expected recovery in passenger vehicle sales and production in Asia-Pacific from 2021 is likely to boost the demand for transmission oils during the forecast period.
- Largest Country Market - China : The high lubricant consumption in China can be attributed to the high passenger vehicle population in the country, along with a high servicing frequency of the vehicles.
- Fastest Growing Country Market - India : In India, sales growth of new and used passenger vehicles, supported by the increasing travel rate, is projected to augment the demand for lubricants at a healthy rate.
