What is the current South America Passenger Vehicles Lubricants Market size?

In 2024, the South America Passenger Vehicles Lubricants Market size is expected to reach 642.29 million Liters. Read More

Who are the key players in South America Passenger Vehicles Lubricants Market?

ExxonMobil Corporation, Iconic Lubrificantes, Petrobras, Royal Dutch Shell Plc and Terpel are the major companies operating in the South America Passenger Vehicles Lubricants Market. Read More

Which segment has the biggest share in the South America Passenger Vehicles Lubricants Market?

In the South America Passenger Vehicles Lubricants Market, the Engine Oils segment accounts for the largest share by product type. Read More

Which country has the biggest share in the South America Passenger Vehicles Lubricants Market?

In 2024, Brazil accounts for the largest share by country in the South America Passenger Vehicles Lubricants Market. Read More

What years does this South America Passenger Vehicles Lubricants Market cover, and what was the market size in 2023?

In 2023, the South America Passenger Vehicles Lubricants Market size was estimated at 626.11 million Liters. The report covers the South America Passenger Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South America Passenger Vehicles Lubricants Market size for years: 2024, 2025 and 2026. Read More

South America Passenger Vehicles Lubricants Market Trends

Q: How big is the South America Passenger Vehicles Lubricants Market?

The South America Passenger Vehicles Lubricants Market size is expected to reach 642.29 million Liters in 2024 and grow at a CAGR of 2.81% to reach 678.94 million Liters by 2026. Read More

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

This section covers the major market trends shaping the South America 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>

During 2015-2019, lubricant consumption in the South American passenger vehicle (PV) sector increased at a CAGR of 1.36%. Engine oil was the dominating lubricant product type in this sector, which accounted for a share of nearly 78% in lubricant consumption of this sector in 2020. Engine oil is followed by transmission oils, which accounted for 14.2% of the lubricant consumption in 2020.
In 2020, post the COVID-19 outbreak, the usage of passenger cars significantly dropped due to the restrictions put in place as a response to the pandemic. As a result, automotive lubricant consumption in this sector fell by nearly 9.53%, in comparison to 2019.
The expected recovery in production and sales of new passenger vehicles is likely to drive the lubricant consumption in this sector. As a result, PV lubricant consumption is likely to register a CAGR of 2.58% during 2021-2026.

South America Passenger Vehicles Lubricants Market : Largest Segment By Product Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Engine Oils</span>

Understand The Key Trends Shaping This Market

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

In the South American region, passenger vehicle (PV) lubricant consumption is the highest in Brazil, followed by Argentina and Colombia. In 2020, Brazil accounted for 64.6% of the total PV lubricant consumption in the region, whereas Argentina and Colombia accounted for a share of 10% and 3.9%, respectively.
In 2020, the reduced usage of the passenger vehicle fleet after the COVID-19 outbreak negatively affected the PV lubricant consumption across the region. Argentina was the most affected as it witnessed a 15.08% drop in consumption during 2019-2020, followed by Colombia, which witnessed an 11.6% drop.
During 2021-2026, Colombia is likely to be the fastest-growing PV lubricant market, as the consumption is likely to register a CAGR of 4.73%, followed by Brazil and Argentina, which are expected to witness a CAGR of 3.25% and 2.43%, respectively.