How big is the Mexico Lubricants Market?

The Mexico Lubricants Market size is expected to reach 723.69 million Liters in 2024 and grow at a CAGR of 2.85% to reach 765.51 million Liters by 2026. Read More

What is the current Mexico Lubricants Market size?

In 2024, the Mexico Lubricants Market size is expected to reach 723.69 million Liters. Read More

Who are the key players in Mexico Lubricants Market?

Bardahl, BP Plc (Castrol), ExxonMobil Corporation, Roshfrans and Royal Dutch Shell Plc are the major companies operating in the Mexico Lubricants Market. Read More

Which segment has the biggest share in the Mexico Lubricants Market?

In the Mexico Lubricants Market, the Automotive segment accounts for the largest share by end user. Read More

Which is the fastest growing segment in the Mexico Lubricants Market?

In 2024, the Power Generation segment accounts for the fastest growing by end user in the Mexico Lubricants Market. Read More

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

In 2023, the Mexico Lubricants Market size was estimated at 703.21 million Liters. The report covers the Mexico Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Lubricants Market size for years: 2024, 2025 and 2026. Read More

Mexico Lubricants Market Trends

Statistics for the 2023 & 2024 Mexico Lubricants market trends, created by Mordor Intelligence™ Industry Reports. Mexico 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 mexico lubricants Industry

This section covers the major market trends shaping the Mexico Lubricants Market according to our research experts:

Largest Segment By End User : Automotive

Mexico's lubricants market was dominated by the automotive sector, which accounted for around 62% (in 2020) of the total lubricant consumption in the country. During 2015-2019, the lubricant consumption in the automotive sector recorded a CAGR of 2.44%
In 2020, the COVID-19 pandemic-related restrictions led to declined maintenance requirements from several industries. The major impact was observed in the automotive sector, which recorded a dip of 14.3%, followed by metallurgy & metalworking (11.8%) during the year.
Power generation is likely to be the fastest-growing end-user segment of the market studied. It registered a CAGR of 6.4% during 2021-2026, followed by metallurgy & metalworking, which recorded a CAGR of 3.47%. The expanding power generation capacity in the country is likely to drive the consumption of lubricants in the power generation sector.