How big is the Japan Passenger Vehicles Lubricants Market?

The Japan Passenger Vehicles Lubricants Market size is expected to reach 249.42 million Liters in 2024 and grow at a CAGR of 0.34% to reach 251.11 million Liters by 2026. Read More

What is the current Japan Passenger Vehicles Lubricants Market size?

In 2024, the Japan Passenger Vehicles Lubricants Market size is expected to reach 249.42 million Liters. Read More

Who are the key players in Japan Passenger Vehicles Lubricants Market?

Cosmo Energy Holdings Co. Ltd, ENEOS Corporation, ExxonMobil Corporation, Idemitsu Kosan Co. Ltd and Royal Dutch Shell Plc are the major companies operating in the Japan Passenger Vehicles Lubricants Market. Read More

Which segment has the biggest share in the Japan Passenger Vehicles Lubricants Market?

In the Japan 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 Japan Passenger Vehicles Lubricants Market?

In 2024, the Hydraulic Fluids segment accounts for the fastest growing by product type in the Japan Passenger Vehicles Lubricants Market. Read More

What years does this Japan Passenger Vehicles Lubricants Market cover, and what was the market size in 2023?

In 2023, the Japan Passenger Vehicles Lubricants Market size was estimated at 248.59 million Liters. The report covers the Japan Passenger Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Japan Passenger Vehicles Lubricants Market size for years: 2024, 2025 and 2026. Read More

Japan Passenger Vehicles Lubricants Market Trends

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

This section covers the major market trends shaping the Japan 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 Japan, passenger vehicle (PV) is the leading segment in terms of automotive lubricant consumption. During 2015-2019, the country recorded a negative CAGR of 2.7% in PV lubricant consumption due to a decline in the annual average distance traveled by passenger vehicles and changes in engine dynamics.
In 2020, PVs accounted for about 49% of the total automotive lubricant consumption in Japan. Engine oils accounted for the largest share of 72% in PV lubricant consumption during the year. During 2020, PV lubricant consumption declined by 12.66% due to COVID-19, which led to a dip in PV sales and delays in service intervals.
During 2021-2026, the hydraulic fluids segment is likely to be the fastest-growing segment, with a CAGR of 1.99%. The growth is expected to be driven by an increase in the annual average distance traveled and a rise in sales of passenger vehicles.