Mexico Passenger Vehicles Lubricants Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Forecast Data Period | 2024 - 2026 |
| Historical Data Period | 2015 - 2019 |
| CAGR (2024 - 2026) | 2.38 % |
| Market Concentration | High |
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Mexico Passenger Vehicles Lubricants Market Analysis
The Mexico Passenger Vehicles Lubricants Market size is estimated at 261.64 Million Liters in 2024, and is expected to reach 274.24 Million Liters by 2026, growing at a CAGR of 2.38% during the forecast period (2024-2026).
- Largest Segment by Product Type - Engine Oils : Engine oils form the leading product type, owing to their high volume requirements and low drain interval. They are used for high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Transmission & Gear Oils : An increase in the usage, sales, and maintenance requirements of passenger vehicles in the country may drive the demand for transmission oils during the forecast period.
Mexico Passenger Vehicles Lubricants Market Trends
This section covers the major market trends shaping the Mexico 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>
- During 2015-2019, the passenger vehicle lubricant consumption in Mexico witnessed a robust growth. The penetration of synthetic lubricants in Mexico during this period was very low in Mexico, unlike Canada and the United States. This factor, combined with the growing vehicle parc in the country, resulted in a consistent increase in lubricant consumption for this segment during this period.
- However, during 2020, the consumption dropped significantly, owing to the COVID-19 pandemic, which has caused a considerable decline in the maintenance requirements of the existing passenger vehicle fleet of the country.
- The passenger vehicle sales in Mexico are likely to recover at a much faster growth rate than in the United States and Canada. As a result, the passenger lubricant consumption is expected to witness a CAGR of 3.78% during the forecast period.
Mexico Passenger Vehicles Lubricants Industry Overview
The Mexico Passenger Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 65.38%. The major players in this market are Bardahl, BP PLC (Castrol), ExxonMobil Corporation, Roshfrans and Royal Dutch Shell Plc (sorted alphabetically).
Mexico Passenger Vehicles Lubricants Market Leaders
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Bardahl
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BP PLC (Castrol)
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ExxonMobil Corporation
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Roshfrans
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Royal Dutch Shell Plc
*Disclaimer: Major Players sorted in no particular order
Mexico Passenger Vehicles Lubricants Market News
- June 2021: TotalEnergies and Stellantis group renewed their partnership for cooperation across different segments. Along with the renewal of partnerships with Peugeot, Citroën, and DS Automobiles, the new collaboration extends to Opel, and Vauxhall as well. This partnership includes the development and innovation of lubricants, first-fill in Stellantis group vehicles, recommendation of Quartz lubricants, and shared usage of charging stations operated by TotalEnergies, among others.
- June 2021: Castrol launched Castrol ON TM, a new line of e-fluids for electric vehicles. It includes e-greases, e-thermal fluids, and e-transmission fluids, all of which are employed in different electrical vehicle applications.
- April 2021: Motul launched two engine oils, namely CLASSIC EIGHTIES 10W-40 and CLASSIC NINETIES 10W-30, for classic cars manufactured between the 1970s and 2000s.
Mexico Passenger Vehicles Lubricants Market Report - Table of Contents
1. Executive Summary & Key Findings
2. Introduction
- 2.1 Study Assumptions & Market Definition
- 2.2 Scope of the Study
- 2.3 Research Methodology
3. Key Industry Trends
- 3.1 Automotive Industry Trends
- 3.2 Regulatory Framework
- 3.3 Value Chain & Distribution Channel Analysis
4. Market Segmentation
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4.1 By Product Type
- 4.1.1 Engine Oils
- 4.1.2 Greases
- 4.1.3 Hydraulic Fluids
- 4.1.4 Transmission & Gear Oils
5. Competitive Landscape
- 5.1 Key Strategic Moves
- 5.2 Market Share Analysis
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5.3 Company Profiles
- 5.3.1 Bardahl
- 5.3.2 BP PLC (Castrol)
- 5.3.3 Chevron Corporation
- 5.3.4 ExxonMobil Corporation
- 5.3.5 Mexicana de Lubricantes S.A. de C.V.
- 5.3.6 Motul
- 5.3.7 Raloy
- 5.3.8 Roshfrans
- 5.3.9 Royal Dutch Shell Plc
- 5.3.10 TotalEnergies
- *List Not Exhaustive
6. Appendix
- 6.1 Appendix-1 References
- 6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
Mexico Passenger Vehicles Lubricants Industry Segmentation
| By Product Type | Engine Oils |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
Mexico Passenger Vehicles Lubricants Market Research FAQs
How big is the Mexico Passenger Vehicles Lubricants Market?
The Mexico Passenger Vehicles Lubricants Market size is expected to reach 261.64 million Liters in 2024 and grow at a CAGR of 2.38% to reach 274.24 million Liters by 2026.
What is the current Mexico Passenger Vehicles Lubricants Market size?
In 2024, the Mexico Passenger Vehicles Lubricants Market size is expected to reach 261.64 million Liters.
Who are the key players in Mexico Passenger Vehicles Lubricants Market?
Bardahl, BP PLC (Castrol), ExxonMobil Corporation, Roshfrans and Royal Dutch Shell Plc are the major companies operating in the Mexico Passenger Vehicles Lubricants Market.
Which segment has the biggest share in the Mexico Passenger Vehicles Lubricants Market?
In the Mexico Passenger Vehicles Lubricants Market, the Engine Oils segment accounts for the largest share by product type.
Which is the fastest growing segment in the Mexico Passenger Vehicles Lubricants Market?
In 2024, the Transmission & Gear Oils segment accounts for the fastest growing by product type in the Mexico Passenger Vehicles Lubricants Market.
What years does this Mexico Passenger Vehicles Lubricants Market cover, and what was the market size in 2023?
In 2023, the Mexico Passenger Vehicles Lubricants Market size was estimated at 256.69 million Liters. The report covers the Mexico Passenger Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Passenger Vehicles Lubricants Market size for years: 2024, 2025 and 2026.
Mexico Passenger Vehicles Lubricants Industry Report
Statistics for the 2024 Mexico Passenger Vehicles Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mexico Passenger Vehicles Lubricants analysis includes a market forecast outlook to 2026 and historical overview. Get a sample of this industry analysis as a free report PDF download.
