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. Read More

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. Read More

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. Read More

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. Read More

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. Read More

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. Read More

Colombia Passenger Vehicles Lubricants Market Trends

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

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.