How big is the Philippines Passenger Vehicles Lubricants Market?

The Philippines Passenger Vehicles Lubricants Market size is expected to reach 10.80 million Liters in 2024 and grow at a CAGR of 4.35% to reach 11.76 million Liters by 2026. Read More

What is the current Philippines Passenger Vehicles Lubricants Market size?

In 2024, the Philippines Passenger Vehicles Lubricants Market size is expected to reach 10.80 million Liters. Read More

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

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

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

In the Philippines 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 Philippines Passenger Vehicles Lubricants Market?

In 2024, the Transmission & Gear Oils segment accounts for the fastest growing by product type in the Philippines Passenger Vehicles Lubricants Market. Read More

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

In 2023, the Philippines Passenger Vehicles Lubricants Market size was estimated at 10.39 million Liters. The report covers the Philippines Passenger Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Philippines Passenger Vehicles Lubricants Market size for years: 2024, 2025 and 2026. Read More

Philippines Passenger Vehicles Lubricants Market Trends

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

This section covers the major market trends shaping the Philippines 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 the Philippines, the passenger vehicle (PV) segment is the third largest segment in terms of automotive lubricant consumption. During 2015-2019, the country recorded a CAGR of 1.80% in PV lubricant consumption, majorly driven by the rising on-road PV population.
In 2020, PVs accounted for about 9.57% of the total automotive lubricant consumption in the country. Engine oil accounted for the largest share in PV lubricant consumption, with a share of about 85% during the year. In 2020, PV lubricant consumption declined by 18.16% due to the extended service intervals of PVs post the COVID-19 outbreak.
During 2021-2026, the transmission oil segment is expected to be the fastest-growing segment, recording a CAGR of 5.76%. This growth is likely to be driven by a rise in sales of automatic cars and a recovery in average distance traveled in the country.