Colombia Automotive Engine Oils Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 110.66 Million Liters |
| Market Volume (2026) | 121.74 Million Liters |
| CAGR (2024 - 2026) | 4.89 % |
| Market Concentration | High |
Colombia Automotive Engine Oils Market Analysis
The Colombia Automotive Engine Oils Market size is estimated at 110.66 Million Liters in 2024, and is expected to reach 121.74 Million Liters by 2026, growing at a CAGR of 4.89% during the forecast period (2024-2026).
- Largest Segment by Vehicle Type - Commercial Vehicles : The commercial vehicle (CV) sector in Colombia consumes the majority of engine oils due to high average engine oil capacity of heavy-duty trucks, pick-up trucks, and buses.
- Fastest Segment by Vehicle Type - Motorcycles : In Colombia, there has been a rise in demand for old and high-end motorcycles since the COVID-19 pandemic, indicating the increasing motorcycle engine oil consumption.
Colombia Automotive Engine Oils Market Trends
This section covers the major market trends shaping the Colombia Automotive Engine Oils Market according to our research experts:
Largest Segment By Vehicle Type : Commercial Vehicles
- Engine oils accounted for about 79.8% of automotive lubricants in Colombia in 2020. During 2015-2019, engine oil consumption increased at a CAGR of 2.25% due to the country's growing active vehicle fleet and increasing service needs.
- In 2020, the COVID-19 outbreak led to a massive decline in the usage rate of the existing vehicle fleets in the country, which led to a 7.74% dip in engine oil consumption. The passenger vehicles (PVs) segment recorded the largest decline of 12.11% in engine oil consumption during the year.
- During 2021-2026, the commercial vehicle segment is expected to register the highest growth of about 3.77% in transmission oil consumption, followed by hydraulic fluids (3.36%). The growth is likely to be driven by increasing demand for new trucks and motorcycles in the country over the next five years.
Colombia Automotive Engine Oils Industry Overview
The Colombia Automotive Engine Oils Market is fairly consolidated, with the top five companies occupying 81.35%. The major players in this market are Biomax, Chevron Corporation, Petromil SA, Royal Dutch Shell PLC and Terpel (sorted alphabetically).
Colombia Automotive Engine Oils Market Leaders
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Biomax
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Chevron Corporation
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Petromil SA
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Royal Dutch Shell PLC
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Terpel
*Disclaimer: Major Players sorted in no particular order
Colombia Automotive Engine Oils Market News
- August 2021: Motul introduces a new and improved version of its flagship product, with a revolutionary formula that once again pushes the boundaries of performance, which would be showcased at the 24 Hours of Le Mans, the world's most famous racing event.
- August 2021: Megacomercial has been a Motul Importers Network Member in the auto, industry, marine, and heavy categories since 2019. It would now do so for Antioquia, Chocó, and the Atlantic Coast in the motorcycle segment.
- June 2021: TotalEnergies and Stellantis renewed their commercial partnership for the Peugeot, Citroen, and DS Automobiles brands for the next five years until 2026.
Colombia 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 Biomax
5.3.2 BP Plc (Castrol)
5.3.3 Chevron Corporation
5.3.4 Gulf Oil International
5.3.5 KIB Internatonal Business (Kroil)
5.3.6 Motul
5.3.7 Petrobras
5.3.8 Petromil SA
5.3.9 Primax
5.3.10 Royal Dutch Shell PLC
5.3.11 Terpel
5.3.12 TotalEnergies
6. Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
Colombia Automotive Engine Oils Industry Segmentation
| By Vehicle Type | |
| Commercial Vehicles | |
| Motorcycles | |
| Passenger Vehicles |
Colombia Automotive Engine Oils Market Research FAQs
How big is the Colombia Automotive Engine Oils Market?
The Colombia Automotive Engine Oils Market size is expected to reach 110.66 million Liters in 2024 and grow at a CAGR of 4.89% to reach 121.74 million Liters by 2026.
What is the current Colombia Automotive Engine Oils Market size?
In 2024, the Colombia Automotive Engine Oils Market size is expected to reach 110.66 million Liters.
Who are the key players in Colombia Automotive Engine Oils Market?
Biomax, Chevron Corporation, Petromil SA, Royal Dutch Shell PLC and Terpel are the major companies operating in the Colombia Automotive Engine Oils Market.
Which segment has the biggest share in the Colombia Automotive Engine Oils Market?
In the Colombia Automotive Engine Oils Market, the Commercial Vehicles segment accounts for the largest share by vehicle type.
Which is the fastest growing segment in the Colombia Automotive Engine Oils Market?
In 2024, the Motorcycles segment accounts for the fastest growing by vehicle type in the Colombia Automotive Engine Oils Market.
What years does this Colombia Automotive Engine Oils Market cover, and what was the market size in 2023?
In 2023, the Colombia Automotive Engine Oils Market size was estimated at 106.14 million Liters. The report covers the Colombia Automotive Engine Oils Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Colombia Automotive Engine Oils Market size for years: 2024, 2025 and 2026.
Colombia Automotive Engine Oils Industry Report
Statistics for the 2024 Colombia Automotive Engine Oils market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Colombia 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.
