Colombia Automotive Lubricants Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 137.65 Million Liters |
| Market Volume (2026) | 151.47 Million Liters |
| CAGR (2024 - 2026) | 4.90 % |
| Market Concentration | High |
Colombia Automotive Lubricants Market Analysis
The Colombia Automotive Lubricants Market size is estimated at 137.65 Million Liters in 2024, and is expected to reach 151.47 Million Liters by 2026, growing at a CAGR of 4.90% during the forecast period (2024-2026).
- Largest Segment by Vehicle Type - Commercial Vehicles : Columbia's commercial vehicle segment has the highest significant lubricant consumption due to its high average lubricant volumes and the presence of older trucks.
- Fastest Segment by Vehicle Type - Motorcycles : Increasing production and sales, as well as a revival in travel rates in Colombia, are expected to drive motorcycle lubricant sales at a healthy rate in the future.
- Largest Segment by Product Type - Engine Oils : Engine oil is the most popular product type used in Colombian vehicles as it is consumed in large quantities and replaced more frequently than other product categories.
- Fastest Segment by Product Type - Transmission & Gear Oils : Transmission oil consumption is expected to expand faster than other product types in Colombia due to the growing penetration of automatic cars and electric vehicles.
Colombia Automotive Lubricants Market Trends
This section covers the major market trends shaping the Colombia Automotive Lubricants Market according to our research experts:
Largest Segment By Vehicle Type : Commercial Vehicles
- In Colombia, motorcycles accounted for the largest share of 60.9% in the total number of on-road vehicles in 2020, followed by passenger vehicles (PV) and commercial vehicles (CV), with a share of 24.2% and 14.8%, respectively.
- The CV segment accounted for the highest share of around 55.7% in the total automotive lubricant consumption in 2020, followed by PV (23.45%) and MC (20.83%), respectively. In 2020, the COVID-19 outbreak led to a notable dip in lubricants consumption, where PV lubricant consumption recorded the highest dip of 11.68%, followed by CV (6.92%) and MC (5.97%).
- The commercial vehicle segment is projected to be the fastest-growing lubricant consumer, exhibiting a CAGR of 3.25% during 2021-2026. The growth is expected to be driven by the growing demand for medium and heavy-duty trucks in the country.
Colombia Automotive Lubricants Industry Overview
The Colombia Automotive Lubricants Market is fairly consolidated, with the top five companies occupying 80.73%. The major players in this market are Biomax, Chevron Corporation, Petromil SA, Royal Dutch Shell PLC and Terpel (sorted alphabetically).
Colombia Automotive Lubricants 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 Lubricants Market News
- October 2021: Valvoline and Cummins extended their long-standing marketing and technology collaboration agreement for another five years. Cummins will endorse and promote Valvoline's Premium Blue engine oil for its heavy-duty diesel engines and generators and will distribute Valvoline products through its global distribution networks.
- 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.
Colombia 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
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 Motul
5.3.6 Petrobras
5.3.7 Petromil SA
5.3.8 Primax
5.3.9 Royal Dutch Shell PLC
5.3.10 Terpel
5.3.11 TotalEnergies
5.3.12 Valvoline Inc.
6. Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
Colombia Automotive Lubricants Industry Segmentation
| By Vehicle Type | |
| Commercial Vehicles | |
| Motorcycles | |
| Passenger Vehicles |
| By Product Type | |
| Engine Oils | |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
Colombia Automotive Lubricants Market Research FAQs
How big is the Colombia Automotive Lubricants Market?
The Colombia Automotive Lubricants Market size is expected to reach 137.65 million Liters in 2024 and grow at a CAGR of 4.90% to reach 151.47 million Liters by 2026.
What is the current Colombia Automotive Lubricants Market size?
In 2024, the Colombia Automotive Lubricants Market size is expected to reach 137.65 million Liters.
Who are the key players in Colombia Automotive Lubricants Market?
Biomax, Chevron Corporation, Petromil SA, Royal Dutch Shell PLC and Terpel are the major companies operating in the Colombia Automotive Lubricants Market.
Which segment has the biggest share in the Colombia Automotive Lubricants Market?
In the Colombia Automotive Lubricants Market, the Commercial Vehicles segment accounts for the largest share by vehicle type.
Which is the fastest growing segment in the Colombia Automotive Lubricants Market?
In 2024, the Motorcycles segment accounts for the fastest growing by vehicle type in the Colombia Automotive Lubricants Market.
What years does this Colombia Automotive Lubricants Market cover, and what was the market size in 2023?
In 2023, the Colombia Automotive Lubricants Market size was estimated at 131.91 million Liters. The report covers the Colombia Automotive Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Colombia Automotive Lubricants Market size for years: 2024, 2025 and 2026.
Colombia Automotive Lubricants Industry Report
Statistics for the 2024 Colombia Automotive Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Colombia 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.
