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. Read More

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. Read More

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. Read More

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. Read More

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. Read More

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. Read More

Bulgaria Automotive Engine Oils Market Trends

Statistics for the 2023 & 2024 Bulgaria Automotive Engine Oils market trends, created by Mordor Intelligence™ Industry Reports. Bulgaria Automotive Engine Oils 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 Bulgaria Automotive Engine Oils Industry

This section covers the major market trends shaping the Bulgaria Automotive Engine Oils Market according to our research experts:

Largest Segment By Vehicle Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Passenger Vehicles</span>

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.