How big is the Vietnam Passenger Vehicles Lubricants Market?

The Vietnam Passenger Vehicles Lubricants Market size is expected to reach 16.98 million Liters in 2024 and grow at a CAGR of 3.07% to reach 18.04 million Liters by 2026. Read More

What is the current Vietnam Passenger Vehicles Lubricants Market size?

In 2024, the Vietnam Passenger Vehicles Lubricants Market size is expected to reach 16.98 million Liters. Read More

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

BP Plc (Castrol), Mekong Petrochemical JSC, Petrolimex (PLX), Royal Dutch Shell Plc and TotalEnergies are the major companies operating in the Vietnam Passenger Vehicles Lubricants Market. Read More

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

In the Vietnam 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 Vietnam Passenger Vehicles Lubricants Market?

In 2024, the Transmission & Gear Oils segment accounts for the fastest growing by product type in the Vietnam Passenger Vehicles Lubricants Market. Read More

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

In 2023, the Vietnam Passenger Vehicles Lubricants Market size was estimated at 16.45 million Liters. The report covers the Vietnam Passenger Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Vietnam Passenger Vehicles Lubricants Market size for years: 2024, 2025 and 2026. Read More

Vietnam Passenger Vehicles Lubricants Market Trends

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

This section covers the major market trends shaping the Vietnam 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 Vietnam, passenger vehicles (PVs) is the smallest segment in terms of automotive lubricant consumption. During 2015-2019, the PV lubricant consumption witnessed a CAGR of 4.69%, primarily due to the surge in the country's active car population.
In 2020, PVs accounted for about 7.35% 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 86.48% during 2020. During 2020, PV lubricants consumption declined by 15.83% due to the lower usage of the vehicle fleet post-COVID-19 outbreak.
During 2021-2026, the transmission oils segment is likely to be the fastest-growing, with a CAGR of 6.32%. This growth is likely to be driven by rising sales of automatic passenger cars and recovery in average distance traveled in the country.