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. Read More

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. Read More

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. Read More

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. Read More

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. Read More

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. Read More

Singapore Passenger Vehicles Lubricants Market Trends

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

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.