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South America Passenger Vehicles Lubricants Market Size

Statistics for the 2023 & 2024 South America Passenger Vehicles Lubricants market size, created by Mordor Intelligence™ Industry Reports. South America Passenger Vehicles Lubricants size report includes a market forecast to 202 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of South America Passenger Vehicles Lubricants Industry

South America Passenger Vehicles Lubricants Market Summary
Study Period 2015 - 2026
Base Year For Estimation 2020
Forecast Data Period 2024 - 2026
Historical Data Period 2015 - 2019
CAGR (2024 - 2026) 2.81 %
Market Concentration High

South America Passenger Vehicles Lubricants Market Analysis

The South America Passenger Vehicles Lubricants Market size is estimated at 642.29 Million Liters in 2024, and is expected to reach 678.94 Million Liters by 2026, growing at a CAGR of 2.81% during the forecast period (2024-2026).

  • Largest Segment by Product Type - Engine Oils : Engine oil is the leading product type in South America due to high volume requirements and shorter drain intervals as it has high-temperature and high-pressure applications.
  • Fastest Segment by Product Type - Greases : The increasing production of motor vehicles in South America, combined with the recovering annual travel rates, is likely to boost the demand for greases in the coming years.
  • Largest Country Market - Brazil : Brazil has the highest proportion of passenger cars among all South American countries, making it the largest consumer of passenger vehicle lubricants in the region.
  • Fastest Growing Country Market - Colombia : The presence of an older passenger vehicle fleet and the potential expansion in new vehicle sales are likely to augment the Colombian passenger vehicle lubricants market.

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