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Asia-pacific Passenger Vehicles Lubricants Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2026

The Asia-pacific Passenger Vehicles Lubricants Market is segmented by Product Type ( Engine Oils, Greases, Hydraulic Fluids, Transmission & Gear Oils ) and by Country ( China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Thailand, Vietnam )

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APAC Passenger Vehicles Lubricants Market Size

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Asia-pacific Passenger Vehicles Lubricants Market
Study Period 2015 - 2026
Base Year For Estimation 2020
Market Volume (2024) 4.77 Billion Liters
Market Volume (2026) 5.24 Billion Liters
CAGR (2024 - 2026) 4.81 %
Market Concentration High

Compare market size and growth of Asia-pacific Passenger Vehicles Lubricants Market with other markets in Chemicals & Materials Industry

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APAC Passenger Vehicles Lubricants Market Analysis

The Asia-pacific Passenger Vehicles Lubricants Market size is estimated at 4.77 Billion Liters in 2024, and is expected to reach 5.24 Billion Liters by 2026, growing at a CAGR of 4.81% 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 low drain intervals. It is used for high-temperature and high-pressure applications.
  • Fastest Segment by Product Type - Transmission & Gear Oils : The expected recovery in passenger vehicle sales and production in Asia-Pacific from 2021 is likely to boost the demand for transmission oils during the forecast period.
  • Largest Country Market - China : The high lubricant consumption in China can be attributed to the high passenger vehicle population in the country, along with a high servicing frequency of the vehicles.
  • Fastest Growing Country Market - India : In India, sales growth of new and used passenger vehicles, supported by the increasing travel rate, is projected to augment the demand for lubricants at a healthy rate.

APAC Passenger Vehicles Lubricants Market Trends

This section covers the major market trends shaping the APAC Passenger Vehicles Lubricants Market according to our research experts:

Largest Segment By Product Type : Engine Oils

  • During 2015-2019, lubricant consumption in the Asia-Pacific passenger vehicle (PV) market recorded a CAGR of 4.52%. Engine oil was the dominating lubricant product type in this market, which accounted for a share of 79.12% in lubricant consumption in 2020. Engine oil was followed by transmission oils, which accounted for around 14.7% of the lubricant consumption in 2020.
  • In 2020, post the COVID-19 pandemic, the usage of passenger cars significantly dropped due to the restrictions put in place as a response to the pandemic. As a result, automotive lubricant consumption fell by 4.69% in comparison to 2019.
  • The expected recovery in production and sales of new passenger vehicles is likely to drive the lubricant consumption in this market. As a result, PV lubricant consumption is likely to witness a CAGR of 5.16% during 2021-2026.
Asia-pacific Passenger Vehicles Lubricants Market

Largest Country : China

  • In the Asia-Pacific region, passenger vehicle (PV) lubricant consumption is the highest in China, followed by India and Japan. In 2020, China accounted for 63.01% of total PV lubricant consumption in the region, while India and Japan accounted for a share of 10.83% and 6.76%, respectively.
  • The declined usage of passenger vehicles after the COVID-19 pandemic negatively affected the PV lubricant consumption across the region in 2020. The Philippines was the most affected, as it witnessed an 18.16% drop in consumption during 2019-2020, followed by Indonesia, which witnessed a 17.84% drop.
  • During 2021-2026, India is likely to be the fastest-growing PV lubricant market, as the consumption is likely to register a CAGR of 6.57%, followed by China and Indonesia, which are expected to witness a CAGR of 5.80% and 4.79%, respectively.
Asia-pacific Passenger Vehicles Lubricants Market

APAC Passenger Vehicles Lubricants Industry Overview

The Asia-pacific Passenger Vehicles Lubricants Market is moderately consolidated, with the top five companies occupying 56.89%. 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).

APAC Passenger Vehicles Lubricants Market Leaders

  1. BP PLC (Castrol)

  2. China National Petroleum Corporation

  3. China Petroleum & Chemical Corporation

  4. ExxonMobil Corporation

  5. Royal Dutch Shell Plc

*Disclaimer: Major Players sorted in no particular order

Asia-pacific Passenger Vehicles Lubricants Market
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APAC Passenger Vehicles Lubricants Market News

  • December 2021: ExxonMobil introduced a line of synthetic engine oils, i.e., Mobil Super Pro, for SUVs in India.
  • September 2021: Shell partnered with ReadyAssist, a Bengaluru-based 24-hour roadside assistance firm, to provide a seamless oil changing service across the country. Customers can get a free lube change for their vehicles when they buy Shell lubricants through ReadyAssist, which will be accessible at up to 5,500 third-party retail outlets across the country.
  • September 2021: ExxonMobil launched the Mobil Super All-in-One Protection SUV Pro synthetic engine oil for SUVs.

APAC Passenger Vehicles Lubricants Market Report - Table of Contents

  1. 1. Executive Summary & Key Findings

  2. 2. Introduction

    1. 2.1 Study Assumptions & Market Definition

    2. 2.2 Scope of the Study

    3. 2.3 Research Methodology

  3. 3. Key Industry Trends

    1. 3.1 Automotive Industry Trends

    2. 3.2 Regulatory Framework

    3. 3.3 Value Chain & Distribution Channel Analysis

  4. 4. Market Segmentation

    1. 4.1 By Product Type

      1. 4.1.1 Engine Oils

      2. 4.1.2 Greases

      3. 4.1.3 Hydraulic Fluids

      4. 4.1.4 Transmission & Gear Oils

    2. 4.2 By Country

      1. 4.2.1 China

      2. 4.2.2 India

      3. 4.2.3 Indonesia

      4. 4.2.4 Japan

      5. 4.2.5 Malaysia

      6. 4.2.6 Philippines

      7. 4.2.7 Singapore

      8. 4.2.8 South Korea

      9. 4.2.9 Thailand

      10. 4.2.10 Vietnam

      11. 4.2.11 Rest of Asia-Pacific

  5. 5. Competitive Landscape

    1. 5.1 Key Strategic Moves

    2. 5.2 Market Share Analysis

    3. 5.3 Company Profiles

      1. 5.3.1 BP PLC (Castrol)

      2. 5.3.2 China National Petroleum Corporation

      3. 5.3.3 China Petroleum & Chemical Corporation

      4. 5.3.4 ENEOS Corporation

      5. 5.3.5 ExxonMobil Corporation

      6. 5.3.6 Idemitsu Kosan Co. Ltd

      7. 5.3.7 Indian Oil Corporation Limited

      8. 5.3.8 PETRONAS Lubricants International

      9. 5.3.9 Royal Dutch Shell Plc

      10. 5.3.10 TotalEnergies

  6. 6. Appendix

    1. 6.1 Appendix-1 References

    2. 6.2 Appendix-2 List of Tables & Figures

  7. 7. Key Strategic Questions for Lubricants CEOs

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APAC Passenger Vehicles Lubricants Industry Segmentation

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
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APAC Passenger Vehicles Lubricants Market Research FAQs

The Asia-pacific Passenger Vehicles Lubricants Market size is expected to reach 4.77 billion Liters in 2024 and grow at a CAGR of 4.81% to reach 5.24 billion Liters by 2026.

In 2024, the Asia-pacific Passenger Vehicles Lubricants Market size is expected to reach 4.77 billion Liters.

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 Passenger Vehicles Lubricants Market.

In the Asia-pacific Passenger Vehicles Lubricants Market, the Engine Oils segment accounts for the largest share by product type.

In 2024, China accounts for the largest share by country in the Asia-pacific Passenger Vehicles Lubricants Market.

In 2023, the Asia-pacific Passenger Vehicles Lubricants Market size was estimated at 4.53 billion Liters. The report covers the Asia-pacific Passenger Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-pacific Passenger Vehicles Lubricants Market size for years: 2024, 2025 and 2026.

Asia-pacific Passenger Vehicles Lubricants Industry Report

Statistics for the 2024 Asia-pacific Passenger Vehicles Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-pacific 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.

Asia-pacific Passenger Vehicles Lubricants Report Snapshots

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Asia-pacific Passenger Vehicles Lubricants Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2026