Colombia Passenger Vehicles Lubricants Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Forecast Data Period | 2024 - 2026 |
| Historical Data Period | 2015 - 2019 |
| CAGR (2024 - 2026) | 5.08 % |
| Market Concentration | High |
Colombia Passenger Vehicles Lubricants Market Analysis
The Colombia Passenger Vehicles Lubricants Market size is estimated at 27.08 Million Liters in 2024, and is expected to reach 29.90 Million Liters by 2026, growing at a CAGR of 5.08% during the forecast period (2024-2026).
- Largest Segment by Product Type - Engine Oils : Engine oil is the most popular product in Colombian SUVs and Sedans as it is consumed in large quantities and replaced more frequently than other product categories.
- Fastest Segment by Product Type - Transmission & Gear Oils : Transmission oil consumption is expected to expand faster than other product types in Colombia due to the growing penetration of automatic cars and electric vehicles.
Colombia Passenger Vehicles Lubricants Market Trends
This section covers the major market trends shaping the Colombia 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 Colombia, passenger vehicles (PVs) are the second-largest consumer of automotive lubricants. During 2015-2019, the PV lubricant consumption increased at a CAGR of 1.57%, primarily due to a surge in the car population in the country.
- In 2020, PVs accounted for about 23.45% of the total automotive lubricant consumption in the country. Engine oil accounted for the largest share in PV lubricant consumption, at around 80.2%, during the year. During 2020, PV lubricant consumption declined by 11.68% due to the lower usage of the vehicle fleet post the COVID-19 outbreak.
- During 2021-2026, the transmission oils segment is likely to be the fastest-growing lubricant type, at a CAGR of 6.1%. This growth may be driven by rising sales of passenger cars and a recovery in average distance traveled in the country.
Colombia Passenger Vehicles Lubricants Industry Overview
The Colombia Passenger Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 79.90%. The major players in this market are Biomax, Chevron Corporation, Petromil SA, Royal Dutch Shell PLC and Terpel (sorted alphabetically).
Colombia Passenger Vehicles Lubricants Market Leaders
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Biomax
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Chevron Corporation
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Petromil SA
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Royal Dutch Shell PLC
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Terpel
*Disclaimer: Major Players sorted in no particular order
Colombia Passenger Vehicles Lubricants Market News
- August 2021: Motul introduces a new and improved version of its flagship product, with a revolutionary formula that once again pushes the boundaries of performance, which would be showcased at the 24 Hours of Le Mans, the world's most famous racing event.
- April 2021: Motul launched two engine oils, namely CLASSIC EIGHTIES 10W-40 and CLASSIC NINETIES 10W-30, for classic cars manufactured between the 1970s and 2000s.
- April 2021: Kia Corporation and TotalEnergies renewed their partnership, with TotalEnergies continuing to be Kia Corporation's approved lubricant sales partner in dealer networks until March 2026.
Colombia Passenger Vehicles Lubricants Market Report - Table of Contents
1. Executive Summary & Key Findings
2. Introduction
- 2.1 Study Assumptions & Market Definition
- 2.2 Scope of the Study
- 2.3 Research Methodology
3. Key Industry Trends
- 3.1 Automotive Industry Trends
- 3.2 Regulatory Framework
- 3.3 Value Chain & Distribution Channel Analysis
4. Market Segmentation
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4.1 By Product Type
- 4.1.1 Engine Oils
- 4.1.2 Greases
- 4.1.3 Hydraulic Fluids
- 4.1.4 Transmission & Gear Oils
5. Competitive Landscape
- 5.1 Key Strategic Moves
- 5.2 Market Share Analysis
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5.3 Company Profiles
- 5.3.1 Biomax
- 5.3.2 BP Plc (Castrol)
- 5.3.3 Chevron Corporation
- 5.3.4 Gulf Oil International
- 5.3.5 Motul
- 5.3.6 Petrobras
- 5.3.7 Petromil SA
- 5.3.8 Primax
- 5.3.9 Royal Dutch Shell PLC
- 5.3.10 Terpel
- 5.3.11 TotalEnergies
- 5.3.12 Valvoline Inc.
- *List Not Exhaustive
6. Appendix
- 6.1 Appendix-1 References
- 6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
** Subject To AvailablityColombia Passenger Vehicles Lubricants Industry Segmentation
| By Product Type | Engine Oils |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
Colombia Passenger Vehicles Lubricants Market Research FAQs
How big is the Colombia Passenger Vehicles Lubricants Market?
The Colombia Passenger Vehicles Lubricants Market size is expected to reach 27.08 million Liters in 2024 and grow at a CAGR of 5.08% to reach 29.90 million Liters by 2026.
What is the current Colombia Passenger Vehicles Lubricants Market size?
In 2024, the Colombia Passenger Vehicles Lubricants Market size is expected to reach 27.08 million Liters.
Who are the key players in Colombia Passenger Vehicles Lubricants Market?
Biomax, Chevron Corporation, Petromil SA, Royal Dutch Shell PLC and Terpel are the major companies operating in the Colombia Passenger Vehicles Lubricants Market.
Which segment has the biggest share in the Colombia Passenger Vehicles Lubricants Market?
In the Colombia Passenger Vehicles Lubricants Market, the Engine Oils segment accounts for the largest share by product type.
Which is the fastest growing segment in the Colombia Passenger Vehicles Lubricants Market?
In 2024, the Transmission & Gear Oils segment accounts for the fastest growing by product type in the Colombia Passenger Vehicles Lubricants Market.
What years does this Colombia Passenger Vehicles Lubricants Market cover, and what was the market size in 2023?
In 2023, the Colombia Passenger Vehicles Lubricants Market size was estimated at 25.91 million Liters. The report covers the Colombia Passenger Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Colombia Passenger Vehicles Lubricants Market size for years: 2024, 2025 and 2026.
Colombia Passenger Vehicles Lubricants Industry Report
Statistics for the 2024 Colombia Passenger Vehicles Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Colombia Passenger Vehicles Lubricants analysis includes a market forecast outlook to 2026 and historical overview. Get a sample of this industry analysis as a free report PDF download.
