How big is the Bulgaria Passenger Vehicles Lubricants Market?

The Bulgaria Passenger Vehicles Lubricants Market size is expected to reach 12.54 million Liters in 2024 and grow at a CAGR of 2.40% to reach 13.15 million Liters by 2026. Read More

What is the current Bulgaria Passenger Vehicles Lubricants Market size?

In 2024, the Bulgaria Passenger Vehicles Lubricants Market size is expected to reach 12.54 million Liters. Read More

Who are the key players in Bulgaria Passenger Vehicles Lubricants Market?

BP PLC (Castrol), ExxonMobil Corporation, Prista Oil, Royal Dutch Shell Plc and TotalEnergies are the major companies operating in the Bulgaria Passenger Vehicles Lubricants Market. Read More

Which segment has the biggest share in the Bulgaria Passenger Vehicles Lubricants Market?

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

Which is the fastest growing segment in the Bulgaria Passenger Vehicles Lubricants Market?

In 2024, the Hydraulic Fluids segment accounts for the fastest growing by product type in the Bulgaria Passenger Vehicles Lubricants Market. Read More

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

In 2023, the Bulgaria Passenger Vehicles Lubricants Market size was estimated at 12.41 million Liters. The report covers the Bulgaria Passenger Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Bulgaria Passenger Vehicles Lubricants Market size for years: 2024, 2025 and 2026. Read More

Bulgaria Passenger Vehicles Lubricants Market Trends

Statistics for the 2023 & 2024 Bulgaria Passenger Vehicles Lubricants market trends, created by Mordor Intelligence™ Industry Reports. Bulgaria 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 Bulgaria Passenger Vehicles Lubricants Industry

This section covers the major market trends shaping the Bulgaria 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>

The share of the passenger vehicles (PV) segment in the automotive lubricants market decreased from 68.91% in 2015 to 66.41% in 2019. Consumption of lubricants in the PV segment however recorded a CAGR of 1.76% during 2015-2019. This trend was directly proportional to the number of vehicles in use.
In 2020, passenger car population increased by 0.82%, which was quite low compared to the growth rate in the past few years. The consumption of lubricants in the PV segment experienced a drop of 15.25% in 2020.
The increasing consumer preference to buy used cars is estimated to grow the population of cars in the future. Currently, Bulgaria does not have strict emission standards or a scrappage policy. Hence, few European countries tend to export their old vehicles to Bulgaria. As a result, the consumption in the PV segment is expected to record a CAGR of 1.79% during 2021-2026.