South Korea Automotive Engine Oils Market Size

Statistics for the 2023 & 2024 South Korea Automotive Engine Oils market size, created by Mordor Intelligence™ Industry Reports. South Korea Automotive Engine Oils 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 Korea Automotive Engine Oils Industry

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South Korea Automotive Engine Oils Market Summary
Study Period 2015 - 2026
Base Year For Estimation 2020
Forecast Data Period 2024 - 2026
Historical Data Period 2015 - 2019
CAGR (2024 - 2026) 2.88 %
Market Concentration High

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South Korea Automotive Engine Oils Market Analysis

The South Korea Automotive Engine Oils Market size is estimated at 201.38 Million Liters in 2024, and is expected to reach 213.15 Million Liters by 2026, growing at a CAGR of 2.88% during the forecast period (2024-2026).

  • Largest Segment by Vehicle Type - Passenger Vehicles : The passenger vehicle market is the largest market for automotive lubricants in South Korea due to the large active passenger vehicle parc, sales volumes, and usage activity.
  • Fastest Segment by Vehicle Type - Motorcycles : The recovery of motorcycle usage and sales in South Korea from 2021 is likely to be at a faster rate, which is expected to boost the consumption of engine oils in the country.

South Korea Automotive Engine Oils Market Size & Share Analysis - Growth Trends & Forecasts Up To 2026