How big is the Spain Passenger Vehicles Lubricants Market?

The Spain Passenger Vehicles Lubricants Market size is expected to reach 83.51 million Liters in 2024 and grow at a CAGR of 2.14% to reach 87.12 million Liters by 2026. Read More

What is the current Spain Passenger Vehicles Lubricants Market size?

In 2024, the Spain Passenger Vehicles Lubricants Market size is expected to reach 83.51 million Liters. Read More

Who are the key players in Spain Passenger Vehicles Lubricants Market?

BP PLC (Castrol), CEPSA, ExxonMobil Corporation, Repsol and Royal Dutch Shell Plc are the major companies operating in the Spain Passenger Vehicles Lubricants Market. Read More

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

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

Which is the fastest growing segment in the Spain Passenger Vehicles Lubricants Market?

In 2024, the Hydraulic Fluids segment accounts for the fastest growing by product type in the Spain Passenger Vehicles Lubricants Market. Read More

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

In 2023, the Spain Passenger Vehicles Lubricants Market size was estimated at 81.77 million Liters. The report covers the Spain Passenger Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Spain Passenger Vehicles Lubricants Market size for years: 2024, 2025 and 2026. Read More

Spain Passenger Vehicles Lubricants Market Trends

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

This section covers the major market trends shaping the Spain 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>

The share of the passenger vehicles (PVs) segment in the overall automotive lubricant consumption increased from 45.5% in 2015 to 47.4% in 2019. The PV lubricants segment exhibited a CAGR of 3.53% during 2015-2019 due to the gradual growth in the active vehicle parc and vehicle service requirements.
Due to the lockdown imposed to curb the spread of COVID-19, the consumption of PV lubricants dropped by 18.82% in 2020. The volume share of the PV segment in the automotive lubricants market declined by nearly 3% in 2020, as compared to 2019.
In 2021, the Spanish Prime Minister announced an aid package worth USD 4.2 billion for the hard-hit auto industry to promote the production and sales of cleaner cars. This factor, along with the expected recovery in the sales of new and used cars, is projected to drive PV lubricant consumption at a CAGR of 2.18% during 2021-2026.