How big is the Asia-pacific Passenger Vehicles Lubricants Market?

The Asia-pacific Passenger Vehicles Lubricants Market size is expected to reach 4.77 billion Liters in 2024 and grow at a CAGR of 4.81% to reach 5.24 billion Liters by 2026. Read More

What is the current Asia-pacific Passenger Vehicles Lubricants Market size?

In 2024, the Asia-pacific Passenger Vehicles Lubricants Market size is expected to reach 4.77 billion Liters. Read More

Who are the key players in Asia-pacific Passenger Vehicles 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 Passenger Vehicles Lubricants Market. Read More

Which segment has the biggest share in the Asia-pacific Passenger Vehicles Lubricants Market?

In the Asia-pacific Passenger Vehicles Lubricants Market, the Engine Oils segment accounts for the largest share by product type. Read More

Which country has the biggest share in the Asia-pacific Passenger Vehicles Lubricants Market?

In 2024, China accounts for the largest share by country in the Asia-pacific Passenger Vehicles Lubricants Market. Read More

What years does this Asia-pacific Passenger Vehicles Lubricants Market cover, and what was the market size in 2023?

In 2023, the Asia-pacific Passenger Vehicles Lubricants Market size was estimated at 4.53 billion Liters. The report covers the Asia-pacific Passenger Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-pacific Passenger Vehicles Lubricants Market size for years: 2024, 2025 and 2026. Read More

Asia-pacific Passenger Vehicles Lubricants Market Trends

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

Market Trends of Asia-pacific Passenger Vehicles Lubricants Industry

This section covers the major market trends shaping the APAC Passenger Vehicles Lubricants Market according to our research experts:

Largest Segment By Product Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Engine Oils</span>

During 2015-2019, lubricant consumption in the Asia-Pacific passenger vehicle (PV) market recorded a CAGR of 4.52%. Engine oil was the dominating lubricant product type in this market, which accounted for a share of 79.12% in lubricant consumption in 2020. Engine oil was followed by transmission oils, which accounted for around 14.7% of the lubricant consumption in 2020.
In 2020, post the COVID-19 pandemic, the usage of passenger cars significantly dropped due to the restrictions put in place as a response to the pandemic. As a result, automotive lubricant consumption fell by 4.69% in comparison to 2019.
The expected recovery in production and sales of new passenger vehicles is likely to drive the lubricant consumption in this market. As a result, PV lubricant consumption is likely to witness a CAGR of 5.16% during 2021-2026.

Asia-pacific Passenger Vehicles Lubricants Market : Largest Segment By Product Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Engine Oils</span>

Understand The Key Trends Shaping This Market

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Largest Country : <span style="font-family: 'regular_bold';color:#0e7db3;">China</span>

In the Asia-Pacific region, passenger vehicle (PV) lubricant consumption is the highest in China, followed by India and Japan. In 2020, China accounted for 63.01% of total PV lubricant consumption in the region, while India and Japan accounted for a share of 10.83% and 6.76%, respectively.
The declined usage of passenger vehicles after the COVID-19 pandemic negatively affected the PV lubricant consumption across the region in 2020. The Philippines was the most affected, as it witnessed an 18.16% drop in consumption during 2019-2020, followed by Indonesia, which witnessed a 17.84% drop.
During 2021-2026, India is likely to be the fastest-growing PV lubricant market, as the consumption is likely to register a CAGR of 6.57%, followed by China and Indonesia, which are expected to witness a CAGR of 5.80% and 4.79%, respectively.