How big is the Colombia Automotive Lubricants Market?

The Colombia Automotive Lubricants Market size is expected to reach 137.65 million Liters in 2024 and grow at a CAGR of 4.90% to reach 151.47 million Liters by 2026. Read More

What is the current Colombia Automotive Lubricants Market size?

In 2024, the Colombia Automotive Lubricants Market size is expected to reach 137.65 million Liters. Read More

Who are the key players in Colombia Automotive Lubricants Market?

Biomax, Chevron Corporation, Petromil SA, Royal Dutch Shell PLC and Terpel are the major companies operating in the Colombia Automotive Lubricants Market. Read More

Which segment has the biggest share in the Colombia Automotive Lubricants Market?

In the Colombia Automotive Lubricants Market, the Commercial Vehicles segment accounts for the largest share by vehicle type. Read More

Which is the fastest growing segment in the Colombia Automotive Lubricants Market?

In 2024, the Motorcycles segment accounts for the fastest growing by vehicle type in the Colombia Automotive Lubricants Market. Read More

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

In 2023, the Colombia Automotive Lubricants Market size was estimated at 131.91 million Liters. The report covers the Colombia Automotive Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Colombia Automotive Lubricants Market size for years: 2024, 2025 and 2026. Read More

Colombia Automotive Lubricants Market Trends

Statistics for the 2023 & 2024 Colombia Automotive Lubricants market trends, created by Mordor Intelligence™ Industry Reports. Colombia Automotive 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 Colombia Automotive Lubricants Industry

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

Largest Segment By Vehicle Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Commercial Vehicles</span>

In Colombia, motorcycles accounted for the largest share of 60.9% in the total number of on-road vehicles in 2020, followed by passenger vehicles (PV) and commercial vehicles (CV), with a share of 24.2% and 14.8%, respectively.
The CV segment accounted for the highest share of around 55.7% in the total automotive lubricant consumption in 2020, followed by PV (23.45%) and MC (20.83%), respectively. In 2020, the COVID-19 outbreak led to a notable dip in lubricants consumption, where PV lubricant consumption recorded the highest dip of 11.68%, followed by CV (6.92%) and MC (5.97%).
The commercial vehicle segment is projected to be the fastest-growing lubricant consumer, exhibiting a CAGR of 3.25% during 2021-2026. The growth is expected to be driven by the growing demand for medium and heavy-duty trucks in the country.