South America Automotive Lubricants Market Trends

Statistics for the 2023 & 2024 South America Automotive Lubricants market trends, created by Mordor Intelligence™ Industry Reports. South America Automotive 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 South America Automotive Lubricants Industry

This section covers the major market trends shaping the South America 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 South America, passenger vehicles (PV) accounted for the largest share of 52.42% in the total number of on-road vehicles in 2020, followed by motorcycles (MC) and commercial vehicles (CV), with shares of 24.2% and 31.53%, respectively.
  • In the South American region, the commercial vehicle (CV) segment accounted for almost 45.9% share in the total number of on-road vehicles during 2020, followed by passenger vehicles (PV) and motorcycles (MC) with 42.6% and 11.4% shares, respectively. During the same year, travel restrictions to curb the COVID-19 outbreak significantly affected the usage of these vehicles and their lubricant consumption.
  • During 2021-2026, the motorcycle segment is expected to witness the highest CAGR of 5.52%. The recovery of motorcycle sales combined with the easing down of COVID-19-related travel restrictions are likely to be the key factors driving this trend.
South America Automotive Lubricants Market : Largest Segment By Vehicle Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Commercial Vehicles</span>

Largest Country : <span style="font-family: 'regular_bold';color:#0e7db3;">Brazil</span>

  • In the South American region, automotive lubricant consumption is the highest in Brazil, followed by Argentina and Colombia. In 2020, Brazil accounted for about 60% of the total automotive lubricant consumption in the region, whereas Argentina and Colombia accounted for shares of around 11.14% and 6.97%, respectively.
  • The COVID-19 outbreak in 2020 significantly affected automotive lubricant consumption in many countries in the region. Argentina was the most affected with a 9.6% drop during 2019-2020, whereas Brazil was the least affected with a 7.73% drop in its automotive lubricant consumption.
  • During 2021-2026, Colombia is likely to be the fastest-growing lubricant market as the consumption is likely to witness a CAGR of 4.82%, followed by Argentina and Brazil, which are expected to witness a CAGR of 3.82% and 3.53%, respectively.
South America Automotive Lubricants Market : Largest Country : <span style="font-family: 'regular_bold';color:#0e7db3;">Brazil</span>

South America Automotive Lubricants Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2026