Bulgaria Automotive Engine Oils Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Forecast Data Period | 2024 - 2026 |
| Market Volume (2024) | 14.38 Million Liters |
| Market Volume (2026) | 15.13 Million Liters |
| CAGR (2024 - 2026) | 2.57 % |
| Market Concentration | High |
Bulgaria Automotive Engine Oils Market Analysis
The Bulgaria Automotive Engine Oils Market size is estimated at 14.38 Million Liters in 2024, and is expected to reach 15.13 Million Liters by 2026, growing at a CAGR of 2.57% during the forecast period (2024-2026).
- Largest Segment by Vehicle Type - Passenger Vehicles : The highest engine oil consumption in the passenger vehicles sector is attributed to the large existing fleet of used passenger vehicle population in the country.
- Fastest Segment by Vehicle Type - Commercial Vehicles : The expected recovery in the sales of commercial vehicles in the country from 2021 is anticipated to boost engine oil consumption levels during the forecast period.
Bulgaria Automotive Engine Oils Market Trends
This section covers the major market trends shaping the Bulgaria Automotive Engine Oils Market according to our research experts:
Largest Segment By Vehicle Type : Passenger Vehicles
- The primary role of engine oils is to ensure that engines are adequately lubricated to run smoothly and have a longer lifespan. In 2020, engine oils accounted for a 74.29% volume share of the overall automotive lubricant share. Engine oil consumption increased at a CAGR of 2.22% during 2015-2019 due to the rising population of used cars and commercial trucks.
- In 2020, the COVID-19 outbreak resulted in a huge decline in the usage of the existing vehicle fleet of the country. Hence, engine oil consumption in the country decreased by around 12.86% compared to 2019.
- During 2021-2026, engine oil consumption is expected to increase at a CAGR of 2.22%. The smaller impact of engine downsizing in future models and the increase in the number of vehicles present on the road in Bulgaria are the primary reasons behind such optimistic growth projections.
Bulgaria Automotive Engine Oils Industry Overview
The Bulgaria Automotive Engine Oils Market is fairly consolidated, with the top five companies occupying 93.57%. The major players in this market are BP PLC (Castrol), ExxonMobil Corporation, Prista Oil, Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).
Bulgaria Automotive Engine Oils Market Leaders
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BP PLC (Castrol)
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ExxonMobil Corporation
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Prista Oil
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Royal Dutch Shell Plc
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TotalEnergies
*Disclaimer: Major Players sorted in no particular order
Bulgaria 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.
- June 2021: TotalEnergies and Stellantis group renewed their partnership for cooperation across different segments. Along with the renewal of partnerships with Peugeot, Citroën, and DS Automobiles, the new collaboration extends to Opel, and Vauxhall as well. This partnership includes the development and innovation of lubricants, first-fill in Stellantis group vehicles, recommendation of Quartz lubricants, and shared usage of charging stations operated by TotalEnergies, among others.
- April 2021: Texaco Lubricants introduced three new engine oils within the successful Texaco Havoline ProDS range, each with manufacturer approvals. The oils have been designed to provide enhanced wear protection even with a lubricant layer of 2 microns.
Bulgaria 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 AVIA International
5.3.2 BP PLC (Castrol)
5.3.3 CHEVRON CORPORATION
5.3.4 ExxonMobil Corporation
5.3.5 Gazprom
5.3.6 LIQUI MOLY
5.3.7 Motul
5.3.8 Prista Oil
5.3.9 Royal Dutch Shell Plc
5.3.10 TotalEnergies
6. Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
Bulgaria Automotive Engine Oils Industry Segmentation
| By Vehicle Type | |
| Commercial Vehicles | |
| Motorcycles | |
| Passenger Vehicles |
Bulgaria Automotive Engine Oils Market Research FAQs
How big is the Bulgaria Automotive Engine Oils Market?
The Bulgaria Automotive Engine Oils Market size is expected to reach 14.38 million Liters in 2024 and grow at a CAGR of 2.57% to reach 15.13 million Liters by 2026.
What is the current Bulgaria Automotive Engine Oils Market size?
In 2024, the Bulgaria Automotive Engine Oils Market size is expected to reach 14.38 million Liters.
Who are the key players in Bulgaria Automotive Engine Oils Market?
BP PLC (Castrol), ExxonMobil Corporation, Prista Oil, Royal Dutch Shell Plc and TotalEnergies are the major companies operating in the Bulgaria Automotive Engine Oils Market.
Which segment has the biggest share in the Bulgaria Automotive Engine Oils Market?
In the Bulgaria Automotive Engine Oils Market, the Passenger Vehicles segment accounts for the largest share by vehicle type.
Which is the fastest growing segment in the Bulgaria Automotive Engine Oils Market?
In 2024, the Commercial Vehicles segment accounts for the fastest growing by vehicle type in the Bulgaria Automotive Engine Oils Market.
What years does this Bulgaria Automotive Engine Oils Market cover, and what was the market size in 2023?
In 2023, the Bulgaria Automotive Engine Oils Market size was estimated at 14.18 million Liters. The report covers the Bulgaria Automotive Engine Oils Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Bulgaria Automotive Engine Oils Market size for years: 2024, 2025 and 2026.
Bulgaria Automotive Engine Oils Industry Report
Statistics for the 2024 Bulgaria Automotive Engine Oils market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Bulgaria 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.
Bulgaria Automotive Engine Oils Report Snapshots
