Thailand Passenger Vehicles Lubricants Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Forecast Data Period | 2024 - 2026 |
| Historical Data Period | 2015 - 2019 |
| CAGR (2024 - 2026) | 3.55 % |
| Market Concentration | High |
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Thailand Passenger Vehicles Lubricants Market Analysis
The Thailand Passenger Vehicles Lubricants Market size is estimated at 61.55 Million Liters in 2024, and is expected to reach 66 Million Liters by 2026, growing at a CAGR of 3.55% during the forecast period (2024-2026).
- Largest Segment by Product Type - Engine Oils : Engine oil is the leading product type due to its high volume requirements and shorter drain intervals, as it is used for high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Transmission & Gear Oils : The expected recovery of passenger vehicle sales and production in Thailand from 2021 is expected to drive the demand for transmission oils during the forecast period.
Thailand Passenger Vehicles Lubricants Market Trends
This section covers the major market trends shaping the Thailand 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>
- In Thailand, the passenger vehicles segment is the second-largest segment in terms of automotive lubricant consumption. During 2015-2019, the country recorded a CAGR of 1.23% in PV lubricant consumption, majorly driven by the growth in sedan and rental vehicles.
- In 2020, the passenger vehicles segment accounted for about 13% of the total automotive lubricant consumption in the country. Engine oil accounted for the largest share in PV lubricant consumption, with a share of about 69.4% during the year. During 2020, PV lubricant consumption declined by 6.8% due to the COVID-19 pandemic, which led to a dip in PV sales and extended service intervals.
- During 2021-2026, the transmission oils segment is likely to be the fastest-growing segment with a CAGR of 5.01%. This growth is likely to be driven by the recovery in annual average distance traveled, production, and sales.
Thailand Passenger Vehicles Lubricants Industry Overview
The Thailand Passenger Vehicles Lubricants Market is moderately consolidated, with the top five companies occupying 51.52%. The major players in this market are Bangchak Corporation, CHEVRON CORPORATION, ExxonMobil Corporation, PTT Lubricants and Royal Dutch Shell Plc (sorted alphabetically).
Thailand Passenger Vehicles Lubricants Market Leaders
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Bangchak Corporation
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CHEVRON CORPORATION
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ExxonMobil Corporation
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PTT Lubricants
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Royal Dutch Shell Plc
*Disclaimer: Major Players sorted in no particular order
Thailand Passenger Vehicles Lubricants Market News
- June 2021: Shell and Ezyhaul (a digital road freight platform) were working closely to transform Thailand's freight market further. The partnership is expected to provide Thai business owners with immediate access to Shell and Ezyhaul offerings and prospects to expand their operations.
- April 2021: Esso (Thailand) Public Company Limited unveiled its updated Mobil Super line offering. It also introduced Mobil Super 3000 All-in-One Protection, Mobil Super 2000 Friction Fighter, and Mobil Super 1000 Everyday Protection engine oils.
- April 2021: Chevron introduced Havoline Lifelong Full Synthetic motor oil, a newly branded version of the Chevron Havoline PRO-DS High Mileage Full Synthetic motor oil, exclusively with Walmart.
Thailand Passenger Vehicles Lubricants Market Report - Table of Contents
1. Executive Summary & Key Findings
2. Introduction
- 2.1 Study Assumptions & Market Definition
- 2.2 Scope of the Study
- 2.3 Research Methodology
3. Key Industry Trends
- 3.1 Automotive Industry Trends
- 3.2 Regulatory Framework
- 3.3 Value Chain & Distribution Channel Analysis
4. Market Segmentation
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4.1 By Product Type
- 4.1.1 Engine Oils
- 4.1.2 Greases
- 4.1.3 Hydraulic Fluids
- 4.1.4 Transmission & Gear Oils
5. Competitive Landscape
- 5.1 Key Strategic Moves
- 5.2 Market Share Analysis
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5.3 Company Profiles
- 5.3.1 Bangchak Corporation
- 5.3.2 BP PLC (Castrol)
- 5.3.3 CHEVRON CORPORATION
- 5.3.4 ENEOS Corporation
- 5.3.5 ExxonMobil Corporation
- 5.3.6 Idemitsu Kosan Co. Ltd
- 5.3.7 PTT Lubricants
- 5.3.8 Royal Dutch Shell Plc
- 5.3.9 Siam Pan Group Public Co. Ltd
- 5.3.10 Thai Petroleum & Trading Co. Ltd
- *List Not Exhaustive
6. Appendix
- 6.1 Appendix-1 References
- 6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
** Subject To AvailablityThailand Passenger Vehicles Lubricants Industry Segmentation
| By Product Type | Engine Oils |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
Thailand Passenger Vehicles Lubricants Market Research FAQs
How big is the Thailand Passenger Vehicles Lubricants Market?
The Thailand Passenger Vehicles Lubricants Market size is expected to reach 61.55 million Liters in 2024 and grow at a CAGR of 3.55% to reach 66.00 million Liters by 2026.
What is the current Thailand Passenger Vehicles Lubricants Market size?
In 2024, the Thailand Passenger Vehicles Lubricants Market size is expected to reach 61.55 million Liters.
Who are the key players in Thailand Passenger Vehicles Lubricants Market?
Bangchak Corporation, CHEVRON CORPORATION, ExxonMobil Corporation, PTT Lubricants and Royal Dutch Shell Plc are the major companies operating in the Thailand Passenger Vehicles Lubricants Market.
Which segment has the biggest share in the Thailand Passenger Vehicles Lubricants Market?
In the Thailand Passenger Vehicles Lubricants Market, the Engine Oils segment accounts for the largest share by product type.
Which is the fastest growing segment in the Thailand Passenger Vehicles Lubricants Market?
In 2024, the Transmission & Gear Oils segment accounts for the fastest growing by product type in the Thailand Passenger Vehicles Lubricants Market.
What years does this Thailand Passenger Vehicles Lubricants Market cover, and what was the market size in 2023?
In 2023, the Thailand Passenger Vehicles Lubricants Market size was estimated at 59.50 million Liters. The report covers the Thailand Passenger Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Thailand Passenger Vehicles Lubricants Market size for years: 2024, 2025 and 2026.
Thailand Passenger Vehicles Lubricants Industry Report
Statistics for the 2024 Thailand Passenger Vehicles Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Thailand Passenger Vehicles Lubricants analysis includes a market forecast outlook to 2026 and historical overview. Get a sample of this industry analysis as a free report PDF download.
