How big is the China Passenger Vehicles Lubricants Market?

The China Passenger Vehicles Lubricants Market size is expected to reach 3.08 billion Liters in 2024 and grow at a CAGR of 5.53% to reach 3.43 billion Liters by 2026. Read More

What is the current China Passenger Vehicles Lubricants Market size?

In 2024, the China Passenger Vehicles Lubricants Market size is expected to reach 3.08 billion Liters. Read More

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

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

In the China 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 China Passenger Vehicles Lubricants Market?

In 2024, the Transmission & Gear Oils segment accounts for the fastest growing by product type in the China Passenger Vehicles Lubricants Market. Read More

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

In 2023, the China Passenger Vehicles Lubricants Market size was estimated at 2.91 billion Liters. The report covers the China Passenger Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the China Passenger Vehicles Lubricants Market size for years: 2024, 2025 and 2026. Read More

China Passenger Vehicles Lubricants Market Trends

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

This section covers the major market trends shaping the China 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>

In China, among all product types, engine oils accounted for a share of 80.17% of the total passenger vehicle (PV) lubricant demand during 2020. During 2015-2019, the overall engine oil consumption increased at a CAGR of 7.95% due to a rise in travel rates of the domestic passenger vehicle fleet.
During 2020, PV engine oil consumption recorded a growth rate of 1.42%, while grease recorded negative growth of 6.26%. This negative trend in grease demand was majorly due to COVID-19 restrictions, which considerably reduced vehicle use and greater service requirements for greases.
Over the forecast period, the transmission oil segment is likely to be the fastest-growing segment with a CAGR of 7.5%. The growing demand for vehicles with automatic transmission systems is projected to drive the demand for transmission oils in the country over the coming years.