Market Size of Global Passenger Vehicles Lubricants Industry
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Forecast Data Period | 2024 - 2026 |
| Historical Data Period | 2015 - 2019 |
| CAGR (2024 - 2026) | 3.10 % |
| Market Concentration | High |
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Passenger Vehicles Lubricants Market Analysis
The Global Passenger Vehicles Lubricants Market size is estimated at 12.23 Billion Liters in 2024, and is expected to reach 13 Billion Liters by 2026, growing at a CAGR of 3.10% during the forecast period (2024-2026).
- Largest Segment by Product Type - Engine Oils : Since it has high-temperature and high-pressure uses, engine oil is the most popular product type in the PV sector, with large volume needs and shorter drain intervals.
- Fastest Segment by Product Type - Transmission & Gear Oils : Transmission oil consumption is expected to be the highest among all product categories in the PV sector, as the penetration of automatic cars & used cars is expected to rise.
- Largest Regional Market - Asia-Pacific : Asia-Pacific is home to countries with large vehicle fleets like China, India & Indonesia. As a result, lubricant consumption by this sector was highest in Asia-Pacific.
- Fastest Growing Regional Market - Africa : The high expected growth rate of car parc in countries like Morocco combined with low penetration of synthetic oils is likely to drive PV lubricant consumption in Africa.
