How big is the Philippines Automotive Lubricants Market?

The Philippines Automotive Lubricants Market size is expected to reach 108.76 million Liters in 2024 and grow at a CAGR of 3.43% to reach 116.36 million Liters by 2026. Read More

What is the current Philippines Automotive Lubricants Market size?

In 2024, the Philippines Automotive Lubricants Market size is expected to reach 108.76 million Liters. Read More

Who are the key players in Philippines Automotive Lubricants Market?

BP Plc (Castrol), Chevron Corporation, Petron Corporation, Royal Dutch Shell Plc and TotalEnergies are the major companies operating in the Philippines Automotive Lubricants Market. Read More

Which segment has the biggest share in the Philippines Automotive Lubricants Market?

In the Philippines Automotive Lubricants Market, the Commercial Vehicles segment accounts for the largest share by vehicle type. Read More

Which is the fastest growing segment in the Philippines Automotive Lubricants Market?

In 2024, the Motorcycles segment accounts for the fastest growing by vehicle type in the Philippines Automotive Lubricants Market. Read More

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

In 2023, the Philippines Automotive Lubricants Market size was estimated at 105.57 million Liters. The report covers the Philippines Automotive Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Philippines Automotive Lubricants Market size for years: 2024, 2025 and 2026. Read More

Philippines Automotive Lubricants Market Trends

Statistics for the 2023 & 2024 Philippines Automotive Lubricants market trends, created by Mordor Intelligence™ Industry Reports. Philippines Automotive Lubricants trend report includes a market forecast to 2026 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Philippines Automotive Lubricants Industry

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

Largest Segment By Vehicle Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Commercial Vehicles</span>

In the Philippines, the motorcycle segment accounted for the largest share of 64.57% in the total number of on-road vehicles in 2020, followed by the commercial vehicle (CV) and passenger vehicle (PV) segments with shares of 21.23% and 14.21%, respectively.
The CV segment accounted for the largest share of 74.27% in the total lubricant consumption in 2020, followed by the motorcycle (16.16%) and PV (9.57%) segments, respectively. In 2020, the COVID-19 outbreak led to a notable dip in lubricant consumption, where PV lubricant consumption recorded the highest dip of 18%, followed by motorcycle (13.8%) and commercial vehicle (10%) consumption, respectively.
The motorcycle segment is projected to be the fastest-growing lubricant segment, recording a CAGR of 5.58% during 2021-2026. The growth is expected to be driven by the recovery in moped and motorcycle production and sales over the short term.