Mexico Automotive Engine Oils Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 314.65 Million Liters |
| Market Volume (2026) | 323.90 Million Liters |
| CAGR (2024 - 2026) | 1.46 % |
| Market Concentration | High |
Mexico Automotive Engine Oils Market Analysis
The Mexico Automotive Engine Oils Market size is estimated at 314.65 Million Liters in 2024, and is expected to reach 323.90 Million Liters by 2026, growing at a CAGR of 1.46% during the forecast period (2024-2026).
- Largest Segment by Vehicle Type - Passenger Vehicles : The highest proportion of passenger vehicle population and their service requirements in Mexico is attributed to the highest engine oil consumption in the sector.
- Fastest Segment by Vehicle Type - Motorcycles : The meteoric rise in the sales of street and off-road motorcycles in Mexico after the COVID-19 outbreak may drive engine oil consumption in the motorcycles segment.
Mexico Automotive Engine Oils Market Trends
This section covers the major market trends shaping the Mexico Automotive Engine Oils Market according to our research experts:
Largest Segment By Vehicle Type : Passenger Vehicles
- The engine oil consumption in Mexico increased by 10.19% during 2015-2017.
- This growth was driven by the growing vehicle parc and low drain intervals of mineral-based engine oils. During 2017-2019, the engine oil consumption saw a slight decline of 0.11% due to the increasing usage of the API SN and SM grade synthetic oils, which have high drain intervals. However, unlike Canada and the United States, the penetration of synthetic engine oils was significantly low during this period. The engine oil consumption further declined by 14.26% during 2019-2020, due to the COVID-19 pandemic.
- The Mexican government's expected publishment of new engine oil standards, combined with engine downsizing trends, may negatively affect the recovery of the country's engine oil consumption. As a result, engine oil consumption is likely to register a CAGR of 2.92% during 2021-2026.
Mexico Automotive Engine Oils Industry Overview
The Mexico Automotive Engine Oils Market is moderately consolidated, with the top five companies occupying 63.64%. The major players in this market are Bardahl, BP PLC (Castrol), ExxonMobil Corporation, Roshfrans and Royal Dutch Shell Plc (sorted alphabetically).
Mexico Automotive Engine Oils Market Leaders
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Bardahl
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BP PLC (Castrol)
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ExxonMobil Corporation
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Roshfrans
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Royal Dutch Shell Plc
*Disclaimer: Major Players sorted in no particular order
Mexico 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.
- 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.
- 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.
Mexico 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 Bardahl
5.3.2 BP PLC (Castrol)
5.3.3 Chevron Corporation
5.3.4 ExxonMobil Corporation
5.3.5 Mexicana de Lubricantes S.A. de C.V.
5.3.6 Raloy
5.3.7 Roshfrans
5.3.8 Royal Dutch Shell Plc
5.3.9 TotalEnergies
5.3.10 Valvoline Inc.
6. Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
Mexico Automotive Engine Oils Industry Segmentation
| By Vehicle Type | |
| Commercial Vehicles | |
| Motorcycles | |
| Passenger Vehicles |
Mexico Automotive Engine Oils Market Research FAQs
How big is the Mexico Automotive Engine Oils Market?
The Mexico Automotive Engine Oils Market size is expected to reach 314.65 million Liters in 2024 and grow at a CAGR of 1.46% to reach 323.90 million Liters by 2026.
What is the current Mexico Automotive Engine Oils Market size?
In 2024, the Mexico Automotive Engine Oils Market size is expected to reach 314.65 million Liters.
Who are the key players in Mexico Automotive Engine Oils Market?
Bardahl, BP PLC (Castrol), ExxonMobil Corporation, Roshfrans and Royal Dutch Shell Plc are the major companies operating in the Mexico Automotive Engine Oils Market.
Which segment has the biggest share in the Mexico Automotive Engine Oils Market?
In the Mexico Automotive Engine Oils Market, the Passenger Vehicles segment accounts for the largest share by vehicle type.
Which is the fastest growing segment in the Mexico Automotive Engine Oils Market?
In 2024, the Motorcycles segment accounts for the fastest growing by vehicle type in the Mexico Automotive Engine Oils Market.
What years does this Mexico Automotive Engine Oils Market cover, and what was the market size in 2023?
In 2023, the Mexico Automotive Engine Oils Market size was estimated at 308.78 million Liters. The report covers the Mexico Automotive Engine Oils Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Automotive Engine Oils Market size for years: 2024, 2025 and 2026.
Mexico Automotive Engine Oils Industry Report
Statistics for the 2023 Mexico Automotive Engine Oils market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mexico Automotive Engine Oils analysis includes a market forecast outlook to 202 and historical overview. Get a sample of this industry analysis as a free report PDF download.
