Asia-pacific Automotive Lubricants Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 9.92 Billion Liters |
| Market Volume (2026) | 10.82 Billion Liters |
| CAGR (2024 - 2026) | 4.44 % |
| Market Concentration | High |
Asia-pacific Automotive Lubricants Market Analysis
The Asia-pacific Automotive Lubricants Market size is estimated at 9.92 Billion Liters in 2024, and is expected to reach 10.82 Billion Liters by 2026, growing at a CAGR of 4.44% during the forecast period (2024-2026).
- Largest Segment by Vehicle Type - Passenger Vehicles : Increasing servicing frequencies and a growing passenger car population in India and ASEAN countries are driving the lubricant consumption in this sector at the highest rate.
- Fastest Segment by Vehicle Type - Passenger Vehicles : The expected recovery in passenger vehicle sales and production in Asia from 2021 is likely to drive the demand for engine oils in this sector during the forecast period.
- Largest Country Market - China : The highest lubricant consumption in China is attributed to the large vehicle fleet of the country and the growing average age of vehicles that require high lubricant usage.
- Fastest Growing Country Market - India : In India, a rebound in the sales of new and used vehicles, supported by increasing travel rates, is projected to augment the demand in the lubricants sector at a high rate.
Asia-pacific Automotive Lubricants Market Trends
This section covers the major market trends shaping the APAC Automotive Lubricants Market according to our research experts:
Largest Segment By Vehicle Type : Passenger Vehicles
- In the Asia-Pacific region, motorcycles accounted for a 54.25% share in the total number of on-road vehicles during 2020, followed by passenger vehicles and motorcycles, with 37.9% and 7.85% shares, respectively.
- The passenger vehicles segment accounted for the highest share of 47.17% in the total automotive lubricant volume consumption in 2020, followed by the commercial vehicles segment with a 35.91% share. During the same year, travel restrictions to curb the COVID-19 pandemic significantly affected the usage of these vehicles and their lubricant consumption.
- During 2021-2026, the passenger vehicles segment is expected to witness the highest CAGR of 5.16%. The recovery of passenger vehicle sales, combined with the easing down of COVID-19-related travel restrictions, is likely to be the key factor driving this trend.
Largest Country : China
- In Asia-Pacific, China has the highest automotive lubricant consumption, followed by India and Japan. In 2020, China accounted for about 46% of the total automotive lubricant consumption in the region. The country also recorded the largest shares in the consumption of engine oils and greases of about 46.39% and 38.8%, respectively.
- In 2020, the COVID-19 outbreak significantly affected automotive lubricant consumption in many Asia-Pacific countries. The automotive lubricant consumption in Singapore was the most affected, with a 17.4% drop during 2019-2020, whereas China was the least affected, with a 2.19% growth.
- During 2021-2026, India is estimated to be the fastest-growing lubricant market, as the consumption is likely to record a CAGR of 6.31%, followed by China and Indonesia, at an estimated CAGR of 5.41% and 5.20%, respectively.
Asia-pacific Automotive Lubricants Industry Overview
The Asia-pacific Automotive Lubricants Market is moderately consolidated, with the top five companies occupying 49.76%. The major players in this market are BP PLC (Castrol), China National Petroleum Corporation, China Petroleum & Chemical Corporation, ExxonMobil Corporation and Royal Dutch Shell Plc (sorted alphabetically).
Asia-pacific Automotive Lubricants Market Leaders
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BP PLC (Castrol)
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China National Petroleum Corporation
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China Petroleum & Chemical Corporation
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ExxonMobil Corporation
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Royal Dutch Shell Plc
*Disclaimer: Major Players sorted in no particular order
Asia-pacific Automotive Lubricants 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.
- December 2021: ExxonMobil introduced a line of synthetic engine oils, i.e., Mobil Super Pro, for SUVs in India.
- October 2021: Castrol, one of Malaysia's major automotive lubricant manufacturers, introduced Castrol Power1 Ultimate, a brand-new type of 100% synthetic engine oil that promises exceptional performance and endurance.
Asia-pacific Automotive 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
4.1 By Vehicle Type
4.1.1 Commercial Vehicles
4.1.2 Motorcycles
4.1.3 Passenger Vehicles
4.2 By Product Type
4.2.1 Engine Oils
4.2.2 Greases
4.2.3 Hydraulic Fluids
4.2.4 Transmission & Gear Oils
4.3 By Country
4.3.1 China
4.3.2 India
4.3.3 Indonesia
4.3.4 Japan
4.3.5 Malaysia
4.3.6 Philippines
4.3.7 Singapore
4.3.8 South Korea
4.3.9 Thailand
4.3.10 Vietnam
4.3.11 Rest of Asia-Pacific
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 China National Petroleum Corporation
5.3.4 China Petroleum & Chemical Corporation
5.3.5 ENEOS Corporation
5.3.6 ExxonMobil Corporation
5.3.7 GS Caltex
5.3.8 Idemitsu Kosan Co. Ltd
5.3.9 Indian Oil Corporation Limited
5.3.10 Motul
5.3.11 PT Pertamina
5.3.12 Royal Dutch Shell Plc
5.3.13 TotalEnergies
6. Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
Asia-pacific Automotive Lubricants Industry Segmentation
| By Vehicle Type | |
| Commercial Vehicles | |
| Motorcycles | |
| Passenger Vehicles |
| By Product Type | |
| Engine Oils | |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
| By Country | |
| China | |
| India | |
| Indonesia | |
| Japan | |
| Malaysia | |
| Philippines | |
| Singapore | |
| South Korea | |
| Thailand | |
| Vietnam | |
| Rest of Asia-Pacific |
Asia-pacific Automotive Lubricants Market Research FAQs
How big is the Asia-pacific Automotive Lubricants Market?
The Asia-pacific Automotive Lubricants Market size is expected to reach 9.92 billion Liters in 2024 and grow at a CAGR of 4.44% to reach 10.82 billion Liters by 2026.
What is the current Asia-pacific Automotive Lubricants Market size?
In 2024, the Asia-pacific Automotive Lubricants Market size is expected to reach 9.92 billion Liters.
Who are the key players in Asia-pacific Automotive Lubricants Market?
BP PLC (Castrol), China National Petroleum Corporation, China Petroleum & Chemical Corporation, ExxonMobil Corporation and Royal Dutch Shell Plc are the major companies operating in the Asia-pacific Automotive Lubricants Market.
Which segment has the biggest share in the Asia-pacific Automotive Lubricants Market?
In the Asia-pacific Automotive Lubricants Market, the Passenger Vehicles segment accounts for the largest share by vehicle type.
Which country has the biggest share in the Asia-pacific Automotive Lubricants Market?
In 2024, China accounts for the largest share by country in the Asia-pacific Automotive Lubricants Market.
What years does this Asia-pacific Automotive Lubricants Market cover, and what was the market size in 2023?
In 2023, the Asia-pacific Automotive Lubricants Market size was estimated at 9.45 billion Liters. The report covers the Asia-pacific Automotive Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-pacific Automotive Lubricants Market size for years: 2024, 2025 and 2026.
Asia-pacific Automotive Lubricants Industry Report
Statistics for the 2024 Asia-pacific Automotive Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-pacific Automotive Lubricants analysis includes a market forecast outlook 202 and historical overview. Get a sample of this industry analysis as a free report PDF download.
