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. Read More

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. Read More

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. Read More

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. Read More

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. Read More

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. Read More

Thailand Passenger Vehicles Lubricants Market Trends

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

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.