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North America Passenger Vehicles Lubricants Market Size

Statistics for the 2023 & 2024 North America Passenger Vehicles Lubricants market size, created by Mordor Intelligence™ Industry Reports. North America Passenger Vehicles Lubricants size report includes a market forecast to 202 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of North America Passenger Vehicles Lubricants Industry

North America Passenger Vehicles Lubricants Market Summary
Study Period 2015 - 2026
Base Year For Estimation 2020
Forecast Data Period 2024 - 2026
Historical Data Period 2015 - 2019
CAGR (2024 - 2026) 0.98 %
Market Concentration High

North America Passenger Vehicles Lubricants Market Analysis

The North America Passenger Vehicles Lubricants Market size is estimated at 3.54 Billion Liters in 2024, and is expected to reach 3.61 Billion Liters by 2026, growing at a CAGR of 0.98% during the forecast period (2024-2026).

  • Largest Segment by Product Type - Engine Oils : Engine oil is the leading product type due to its high volume requirements and low drain interval, as it is used for high-temperature and high-pressure applications.
  • Fastest Segment by Product Type - Engine Oils : The expected recovery of passenger vehicle sales in the country and the growing usage of the existing vehicle fleet may drive the demand for engine oils during 2021-2026.
  • Largest Country Market - United States : The United States is one of the largest passenger vehicle markets, globally, and a leading lubricant consumer in North America, due to its high passenger vehicle population.
  • Fastest Growing Country Market - Mexico : The expected recovery in passenger vehicle production and sales in domestic and export markets are expected to drive the passenger vehicle lubricant demand in Mexico.

North America Passenger Vehicles Lubricants Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2026