How big is the Europe Passenger Vehicles Lubricants Market?

The Europe Passenger Vehicles Lubricants Market size is expected to reach 1.81 billion Liters in 2024 and grow at a CAGR of 2.19% to reach 1.89 billion Liters by 2026. Read More

What is the current Europe Passenger Vehicles Lubricants Market size?

In 2024, the Europe Passenger Vehicles Lubricants Market size is expected to reach 1.81 billion Liters. Read More

Who are the key players in Europe Passenger Vehicles Lubricants Market?

BP PLC (Castrol), ExxonMobil Corporation, LUKOIL, Royal Dutch Shell Plc and TotalEnergies are the major companies operating in the Europe Passenger Vehicles Lubricants Market. Read More

Which segment has the biggest share in the Europe Passenger Vehicles Lubricants Market?

In the Europe Passenger Vehicles Lubricants Market, the Engine Oils segment accounts for the largest share by product type. Read More

Which country has the biggest share in the Europe Passenger Vehicles Lubricants Market?

In 2024, Germany accounts for the largest share by country in the Europe Passenger Vehicles Lubricants Market. Read More

What years does this Europe Passenger Vehicles Lubricants Market cover, and what was the market size in 2023?

In 2023, the Europe Passenger Vehicles Lubricants Market size was estimated at 1.76 billion Liters. The report covers the Europe Passenger Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Passenger Vehicles Lubricants Market size for years: 2024, 2025 and 2026. Read More

Europe Passenger Vehicles Lubricants Market Trends

Statistics for the 2023 & 2024 Europe Passenger Vehicles Lubricants market trends, created by Mordor Intelligence™ Industry Reports. Europe Passenger Vehicles Lubricants 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 Europe Passenger Vehicles Lubricants Industry

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

Largest Segment By Product Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Engine Oils</span>

During 2015-2019, lubricant consumption in the European passenger vehicle sector increased at a CAGR of 1.21%. This growth is due to the rise in active passenger vehicle fleets and their maintenance requirements. Additionally, the high average age of vehicles in countries like Russia has been a driving factor for lubricant consumption.
In 2020, post the COVID-19 outbreak, the usage of passenger cars significantly dropped due to the restrictions put in place as a response to the pandemic. Hence, lubricant consumption fell by 18.6% compared to 2019.
The supply shortage of semiconductors and the ongoing pandemic are likely to restrict the growth of lubricant consumption in passenger vehicles in Europe in 2021 and 2022. Expected recovery in sales and production of new vehicles are likely to support the demand for lubricants of passenger vehicles in the coming years.

Europe Passenger Vehicles Lubricants Market

Understand The Key Trends Shaping This Market

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Largest Country : <span style="font-family: 'regular_bold';color:#0e7db3;">Germany</span>

In Europe, passenger vehicle (PV) lubricant consumption is the highest in Germany, followed by Russia. In 2020, Germany accounted for 17.61% of the total PVs' lubricant consumption in Europe. The country also accounted for the largest shares in grease, hydraulic fluid, and transmission oil consumption, occupying 15.56%, 16.06%, and 20.51%, respectively, in 2020.
Russia recorded the largest volume share of 18.63% in the European PV engine oils market in 2020. However, in 2020, the COVID-19 outbreak and subsequent social restrictions significantly impacted vehicle production and sales.
Uncertainties caused by consequent COVID-19 waves and production issues due to semiconductor shortages are expected to reduce the pace of sales recovery. However, the automotive sector is likely to grow from 2022, projecting a CAGR of 3.14% for the European PV lubricants market.