Market Trends of Germany Passenger Vehicles Lubricants Industry
This section covers the major market trends shaping the Germany 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>
- Since 2016, engine oil consumption in passenger vehicles in Germany has been consistently declining. Despite growth in passenger vehicle parc, declining service intervals of passenger cars and growing penetration of electric cars have been the key factors causing this drop.
- In 2020, post the COVID-19 outbreak, the usage of passenger cars significantly dropped due to restrictions imposed to curb the pandemic. Thus, lubricant consumption levels dropped by around 19% in 2020.
- Although passenger vehicle sales in the country have been showing significant recovery, the second wave of the COVID-19 pandemic is likely to impact lubricant consumption. The shortage in semiconductor supply is also likely to restrict the production of major automotive OEMs in the country, and thereby impact lubricant consumption.
Understand The Key Trends Shaping This Market
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