Singapore 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) | 4.96 % |
| Market Concentration | High |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Singapore Passenger Vehicles Lubricants Market Analysis
The Singapore Passenger Vehicles Lubricants Market size is estimated at 6.49 Million Liters in 2024, and is expected to reach 7.15 Million Liters by 2026, growing at a CAGR of 4.96% during the forecast period (2024-2026).
- Largest Segment by Product Type - Engine Oils : Engine oils form the leading product type due to their high volume requirements and short drain intervals, as they are used in high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Transmission & Gear Oils : Increasing electric vehicle (EV) sales and the adoption of automatic transmissions in the country are expected to enhance transmission oils' demand in the coming years.
Singapore Passenger Vehicles Lubricants Market Trends
This section covers the major market trends shaping the Singapore 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 Singapore, passenger vehicle (PV) was the second-largest segment in terms of automotive lubricant consumption in 2020. During 2015-2019, the country recorded a 0.69% drop in PV lubricant consumption as the high ownership costs negatively affected the PV usage.
- In 2020, passenger vehicles accounted for about 49.16% of the total automotive lubricant consumption in the country. Engine oils accounted for the largest share of about 90% in PV lubricant consumption during the year. During 2020, PV lubricant consumption declined by 17.58% due to the less usage of the vehicle fleet post the COVID-19 outbreak.
- During 2021-2026, the transmission oils segment is expected to be the fastest-growing segment, with a CAGR of 3.70%. This growth is likely to be driven by a rise in sales of passenger cars and a recovery in average distance traveled in the country.
Singapore Passenger Vehicles Lubricants Industry Overview
The Singapore Passenger Vehicles Lubricants Market is moderately consolidated, with the top five companies occupying 52.95%. The major players in this market are BP Plc (Castrol), Chevron Corporation, ExxonMobil Corporation, Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).
Singapore Passenger Vehicles Lubricants Market Leaders
-
BP Plc (Castrol)
-
Chevron Corporation
-
ExxonMobil Corporation
-
Royal Dutch Shell Plc
-
TotalEnergies
*Disclaimer: Major Players sorted in no particular order
Singapore Passenger Vehicles Lubricants Market News
- May 2021: Suzuki Singapore partnered with Motul to unveil the all-new Suzuki Swift Sports Car with Motul's high-performance lubricants. Customers would receive a complimentary upgrade to Motul's engine oils for an entire year.
- 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.
- March 2021: Castrol announced the launch of Castrol ON (a Castrol e-fluid range that includes e-gear oils, e-coolants, and e-greases) to its product portfolio. This range is specially designed for electric vehicles.
Singapore 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
-
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
-
5.3 Company Profiles
- 5.3.1 AP Oil
- 5.3.2 BP Plc (Castrol)
- 5.3.3 Chevron Corporation
- 5.3.4 ExxonMobil Corporation
- 5.3.5 Idemitsu Kosan Co. Ltd
- 5.3.6 LIQUI MOLY
- 5.3.7 Motul
- 5.3.8 Royal Dutch Shell Plc
- 5.3.9 TotalEnergies
- 5.3.10 United Oil Company Pte Ltd
- *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
** Subject To AvailablitySingapore Passenger Vehicles Lubricants Industry Segmentation
| By Product Type | Engine Oils |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
Singapore Passenger Vehicles Lubricants Market Research FAQs
How big is the Singapore Passenger Vehicles Lubricants Market?
The Singapore Passenger Vehicles Lubricants Market size is expected to reach 6.49 million Liters in 2024 and grow at a CAGR of 4.96% to reach 7.15 million Liters by 2026.
What is the current Singapore Passenger Vehicles Lubricants Market size?
In 2024, the Singapore Passenger Vehicles Lubricants Market size is expected to reach 6.49 million Liters.
Who are the key players in Singapore Passenger Vehicles Lubricants Market?
BP Plc (Castrol), Chevron Corporation, ExxonMobil Corporation, Royal Dutch Shell Plc and TotalEnergies are the major companies operating in the Singapore Passenger Vehicles Lubricants Market.
Which segment has the biggest share in the Singapore Passenger Vehicles Lubricants Market?
In the Singapore Passenger Vehicles Lubricants Market, the Engine Oils segment accounts for the largest share by product type.
Which is the fastest growing segment in the Singapore Passenger Vehicles Lubricants Market?
In 2024, the Transmission & Gear Oils segment accounts for the fastest growing by product type in the Singapore Passenger Vehicles Lubricants Market.
What years does this Singapore Passenger Vehicles Lubricants Market cover, and what was the market size in 2023?
In 2023, the Singapore Passenger Vehicles Lubricants Market size was estimated at 6.32 million Liters. The report covers the Singapore Passenger Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Singapore Passenger Vehicles Lubricants Market size for years: 2024, 2025 and 2026.
Singapore Passenger Vehicles Lubricants Industry Report
Statistics for the 2024 Singapore Passenger Vehicles Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Singapore 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.
