Market Trends of Thailand Automotive Lubricants Industry
This section covers the major market trends shaping the Thailand 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 Thailand, motorcycles accounted for the largest share of 52.9% among the total number of on-road vehicles in 2020, followed by passenger vehicles (PVs) and commercial vehicles (CVs), with a share of 26.97% and 20.12%, respectively.
- The CV segment accounted for the highest share of 79% in total automotive lubricants consumption in 2020, followed by passenger vehicles (13%) and motorcycles (8%), respectively. In 2020, the COVID-19 outbreak led to a notable dip in lubricants consumption, where motorcycle lubricant consumption recorded the highest dip of 16.06%, followed by passenger vehicles (15.7%).
- The PV segment is projected to be the fastest-growing lubricant consumer, with a CAGR of 4.6% during 2021-2026. The expected initiation in sales of electric vehicles and recovery in average distance traveled by existing fleets are expected to drive the PV lubricant consumption during this period.
Understand The Key Trends Shaping This Market
Download PDF
