How big is the China Lubricants Market?

The China Lubricants Market size is expected to reach 11.27 billion Liters in 2024 and grow at a CAGR of 4.43% to reach 12.29 billion Liters by 2026. Read More

What is the current China Lubricants Market size?

In 2024, the China Lubricants Market size is expected to reach 11.27 billion Liters. Read More

Who are the key players in China 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 China Lubricants Market. Read More

Which segment has the biggest share in the China Lubricants Market?

In the China Lubricants Market, the Automotive segment accounts for the largest share by end user. Read More

Which is the fastest growing segment in the China Lubricants Market?

In 2024, the Power Generation segment accounts for the fastest growing by end user in the China Lubricants Market. Read More

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

In 2023, the China Lubricants Market size was estimated at 10.76 billion Liters. The report covers the China Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the China Lubricants Market size for years: 2024, 2025 and 2026. Read More

China Lubricants Market Trends

Statistics for the 2023 & 2024 China Lubricants market trends, created by Mordor Intelligence™ Industry Reports. China Lubricants trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of china lubricants Industry

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

Largest Segment By End User : Automotive

In 2020, the Chinese lubricant market was dominated by the automotive industry, which accounted for around 40% of the total lubricant consumption in the country. During 2015-2019, lubricant consumption in the automotive industry increased by around 30% due to the expanding vehicle fleet.
Despite COVID-19-related restrictions in 2019 and 2020, several industries witnessed a positive growth in their lubricant consumption. The highest growth was observed in the power generation industry, which recorded a growth of 9.48%, followed by heavy equipment (2.19%) during the year.
Power generation is likely to be the fastest-growing end-user industry in the market studied, with a CAGR of 6.87%, during 2021-2026, followed by automotive (5.41%). The expanding power generation capacity in the country is likely to drive the consumption of lubricants in the sector in the coming years.