Argentina Automotive Engine Oils Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 150.32 Million Liters |
| Market Volume (2026) | 161.68 Million Liters |
| CAGR (2024 - 2026) | 3.71 % |
| Market Concentration | High |
Argentina Automotive Engine Oils Market Analysis
The Argentina Automotive Engine Oils Market size is estimated at 150.32 Million Liters in 2024, and is expected to reach 161.68 Million Liters by 2026, growing at a CAGR of 3.71% during the forecast period (2024-2026).
- Largest Segment by Vehicle Type - Commercial Vehicles : Argentina's commercial vehicle (CV) sector consumes the most engine oil due to the high average engine oil capacity of heavy-duty trucks, pickup trucks, and buses.
- Fastest Segment by Vehicle Type - Commercial Vehicles : Argentina's CV engine oil demand is expected to rise faster than other segments, owing to the government's tax exemption announcement that would boost the CV population.
Argentina Automotive Engine Oils Market Trends
This section covers the major market trends shaping the Argentina Automotive Engine Oils Market according to our research experts:
Largest Segment By Vehicle Type : Commercial Vehicles
- In Argentina, engine oils accounted for about 82.35% of automotive lubricants consumption in 2020. During 2015-2019, engine oil consumption recorded a CAGR of 2.47%. The growing active vehicle fleet and increasing service needs in the country were the key drivers of this trend.
- In 2020, the COVID-19 pandemic led to a massive decline in the usage rate of the existing vehicle fleets in the country, which led to a 9.61% dip in engine oil consumption. The passenger vehicles (PV) segment recorded the largest decline of 15.3% in engine oil consumption during the year.
- During 2021-2026, the commercial vehicle segment is expected to register the highest growth of about 4.34% in engine oil consumption, followed by the motorcycles segment (3.98%). The growth is likely to be driven by increasing demand for new trucks and motorcycles in the country over the next five years.
Argentina Automotive Engine Oils Industry Overview
The Argentina Automotive Engine Oils Market is fairly consolidated, with the top five companies occupying 71.19%. The major players in this market are BP Plc (Castrol), ExxonMobil Corporation, Royal Dutch Shell Plc, TotalEnergies and YPF (sorted alphabetically).
Argentina Automotive Engine Oils Market Leaders
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BP Plc (Castrol)
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ExxonMobil Corporation
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Royal Dutch Shell Plc
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TotalEnergies
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YPF
*Disclaimer: Major Players sorted in no particular order
Argentina Automotive Engine Oils Market News
- January 2022: Effective April 1, ExxonMobil Corporation was organized along three business lines - ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon Solutions.
- November 2021: Puma Energy recently entered into a contract with Kia Argentina. Puma is expected to provide Kia with its lubricants and oils for the optimal maintenance of Kia vehicles.
- October 2021: Valvoline and Cummins extended their long-standing marketing and technology collaboration agreement for another five years. Cummins will endorse and promote Valvoline's Premium Blue engine oil for its heavy-duty diesel engines and generators and will distribute Valvoline products through its global distribution networks.
Argentina Automotive Engine Oils 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
4.1 By Vehicle Type
4.1.1 Commercial Vehicles
4.1.2 Motorcycles
4.1.3 Passenger Vehicles
4.2 By Product Grade
5. Competitive Landscape
5.1 Key Strategic Moves
5.2 Market Share Analysis
5.3 Company Profiles
5.3.1 BP Plc (Castrol)
5.3.2 Chevron Corporation
5.3.3 ExxonMobil Corporation
5.3.4 Gulf Oil International
5.3.5 Petrobras
5.3.6 Petronas Lubricants International
5.3.7 Puma Energy
5.3.8 Royal Dutch Shell Plc
5.3.9 TotalEnergies
5.3.10 Valvoline Inc.
5.3.11 YPF
6. Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
Argentina Automotive Engine Oils Industry Segmentation
| By Vehicle Type | |
| Commercial Vehicles | |
| Motorcycles | |
| Passenger Vehicles |
Argentina Automotive Engine Oils Market Research FAQs
How big is the Argentina Automotive Engine Oils Market?
The Argentina Automotive Engine Oils Market size is expected to reach 150.32 million Liters in 2024 and grow at a CAGR of 3.71% to reach 161.68 million Liters by 2026.
What is the current Argentina Automotive Engine Oils Market size?
In 2024, the Argentina Automotive Engine Oils Market size is expected to reach 150.32 million Liters.
Who are the key players in Argentina Automotive Engine Oils Market?
BP Plc (Castrol), ExxonMobil Corporation, Royal Dutch Shell Plc, TotalEnergies and YPF are the major companies operating in the Argentina Automotive Engine Oils Market.
Which segment has the biggest share in the Argentina Automotive Engine Oils Market?
In the Argentina Automotive Engine Oils Market, the Commercial Vehicles segment accounts for the largest share by vehicle type.
Which is the fastest growing segment in the Argentina Automotive Engine Oils Market?
In 2024, the Commercial Vehicles segment accounts for the fastest growing by vehicle type in the Argentina Automotive Engine Oils Market.
What years does this Argentina Automotive Engine Oils Market cover, and what was the market size in 2023?
In 2023, the Argentina Automotive Engine Oils Market size was estimated at 145.30 million Liters. The report covers the Argentina Automotive Engine Oils Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Argentina Automotive Engine Oils Market size for years: 2024, 2025 and 2026.
Argentina Automotive Engine Oils Industry Report
Statistics for the 2024 Argentina Automotive Engine Oils market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Argentina Automotive Engine Oils analysis includes a market forecast outlook to 2026 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Argentina Automotive Engine Oils Report Snapshots
