Market Size of South America Automotive Engine Oils Industry
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Forecast Data Period | 2024 - 2026 |
| Historical Data Period | 2015 - 2019 |
| CAGR (2024 - 2026) | 3.15 % |
| Market Concentration | High |
South America Automotive Engine Oils Market Analysis
The South America Automotive Engine Oils Market size is estimated at 1.25 Billion Liters in 2024, and is expected to reach 1.33 Billion Liters by 2026, growing at a CAGR of 3.15% during the forecast period (2024-2026).
- Largest Segment by Vehicle Type - Commercial Vehicles : The commercial vehicle segment in the region consumes the majority of engine oil due to the high average engine oil capacity of heavy-duty trucks, pick-up trucks, and buses.
- Fastest Segment by Vehicle Type - Motorcycles : Post COVID-19 pandemic, there has been an increase in demand for used and high-end motorcycles in Brazil and Colombia, which may increase motorcycle engine oil consumption.
- Largest Country Market - Brazil : Brazil has the highest proportion of passenger vehicles, commercial vehicles, and motorcycles among all South American countries, making it the leading engine oil consumer.
- Fastest Growing Country Market - Colombia : The expected growth in the active vehicle fleet in Colombia, along with the widespread use of mineral oils, is likely to propel the demand for engine oils at a healthy rate.
