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Mexico Lubricants Market Size & Share Analysis - Growth Trends & Forecasts Up To 2026

The Mexico Lubricants Market is segmented by End User ( Automotive, Heavy Equipment, Metallurgy & Metalworking, Power Generation ) and by Product Type ( Engine Oils, Greases, Hydraulic Fluids, Metalworking Fluids, Transmission & Gear Oils ).

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Mexico Lubricants Market Size

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Mexico Lubricants Market
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svg icon Study Period 2015 - 2026
svg icon Market Volume (2024) 723.69 Million Liters
svg icon Market Volume (2026) 765.51 Million Liters
svg icon Largest Share by End User Automotive
svg icon CAGR (2024 - 2026) 2.85 %
svg icon Fastest Growing by End User Power Generation
svg icon Market Concentration High

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

Compare market size and growth of Mexico Lubricants Market with other markets in Chemicals & Materials Industry

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Mexico Lubricants Market Analysis

The Mexico Lubricants Market size is estimated at 723.69 Million Liters in 2024, and is expected to reach 765.51 Million Liters by 2026, growing at a CAGR of 2.85% during the forecast period (2024-2026).

  • Largest Segment by End-user Industry - Automotive : Automotive was the largest end-user segment in Mexico, owing to the higher amount of engine oil, gear oil, and greases used in vehicles compared to industrial applications.
  • Fastest Segment by End-user Industry - Power Generation : Due to the increased use of natural gas reactors and wind turbines for electricity generation in Mexico, power generation is likely to be the fastest-growing end user.
  • Largest Segment by Product Type - Engine Oils : Owing to the high volume of engine oil and high replacement frequencies required to lubricate gasoline engines, engine oil is projected to be the most consumed product type.
  • Fastest Segment by Product Type - Transmission & Gear Oils : Transmission and gear oils are expected to grow at a faster rate than any other product segment, as Mexico sees a spike in the use of electric cars and wind turbines.

Mexico Lubricants Market Trends

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

Largest Segment By End User : Automotive

  • Mexico's lubricants market was dominated by the automotive sector, which accounted for around 62% (in 2020) of the total lubricant consumption in the country. During 2015-2019, the lubricant consumption in the automotive sector recorded a CAGR of 2.44%
  • In 2020, the COVID-19 pandemic-related restrictions led to declined maintenance requirements from several industries. The major impact was observed in the automotive sector, which recorded a dip of 14.3%, followed by metallurgy & metalworking (11.8%) during the year.
  • Power generation is likely to be the fastest-growing end-user segment of the market studied. It registered a CAGR of 6.4% during 2021-2026, followed by metallurgy & metalworking, which recorded a CAGR of 3.47%. The expanding power generation capacity in the country is likely to drive the consumption of lubricants in the power generation sector.
Mexico Lubricants Market

Mexico Lubricants Industry Overview

The Mexico Lubricants Market is moderately consolidated, with the top five companies occupying 52.98%. The major players in this market are Bardahl, BP Plc (Castrol), ExxonMobil Corporation, Roshfrans and Royal Dutch Shell Plc (sorted alphabetically).

Mexico Lubricants Market Leaders

  1. Bardahl

  2. BP Plc (Castrol)

  3. ExxonMobil Corporation

  4. Roshfrans

  5. Royal Dutch Shell Plc

*Disclaimer: Major Players sorted in no particular order

Mexico Lubricants Market
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Mexico Lubricants Market News

  • May 2022: TotalEnergies, NEXUS Automotive Extend Strategic Partnership for a period of five years. As part of this partnership, TotalEnergies Lubricants will be expanding its presence in the burgeoning N! community, which has seen rapid growth in sales from EUR 7.2 billion in 2015 to nearly EUR 35 billion by the end of 2021.
  • March 2022: ExxonMobil Corporation company has appointed Jay Hooley as lead managing director of the company.
  • January 2022: Effective April 1, ExxonMobil Corporation was organized along three business lines - ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon Solutions.

Mexico Lubricants Market Report - Table of Contents

  1. 1. Executive Summary & Key Findings

  2. 2. Introduction

    1. 2.1. Study Assumptions & Market Definition

    2. 2.2. Scope of the Study

    3. 2.3. Research Methodology

  3. 3. Key Industry Trends

    1. 3.1. Automotive Industry Trends

    2. 3.2. Manufacturing Industry Trends

    3. 3.3. Power Generation Industry Trends

    4. 3.4. Regulatory Framework

    5. 3.5. Value Chain & Distribution Channel Analysis

  4. 4. Market Segmentation

    1. 4.1. By End User

      1. 4.1.1. Automotive

      2. 4.1.2. Heavy Equipment

      3. 4.1.3. Metallurgy & Metalworking

      4. 4.1.4. Power Generation

      5. 4.1.5. Other End-user Industries

    2. 4.2. By Product Type

      1. 4.2.1. Engine Oils

      2. 4.2.2. Greases

      3. 4.2.3. Hydraulic Fluids

      4. 4.2.4. Metalworking Fluids

      5. 4.2.5. Transmission & Gear Oils

      6. 4.2.6. Other Product Types

  5. 5. Competitive Landscape

    1. 5.1. Key Strategic Moves

    2. 5.2. Market Share Analysis

    3. 5.3. Company Profiles

      1. 5.3.1. Bardahl

      2. 5.3.2. BP Plc (Castrol)

      3. 5.3.3. Chevron Corporation

      4. 5.3.4. ExxonMobil Corporation

      5. 5.3.5. FUCHS

      6. 5.3.6. Mexicana de Lubricantes S.A. de C.V.

      7. 5.3.7. Raloy

      8. 5.3.8. Roshfrans

      9. 5.3.9. Royal Dutch Shell Plc

      10. 5.3.10. TotalEnergies

  6. 6. Appendix

    1. 6.1. Appendix-1 References

    2. 6.2. Appendix-2 List of Tables & Figures

  7. 7. Key Strategic Questions for Lubricants CEOs

List of Tables & Figures

  1. Figure 1:  
  2. VEHICLE POPULATION, NUMBER OF UNITS, MEXICO, 2015 - 2026
  1. Figure 2:  
  2. COMMERCIAL VEHICLES POPULATION, NUMBER OF UNITS, MEXICO, 2015 - 2026
  1. Figure 3:  
  2. MOTORCYCLES POPULATION, NUMBER OF UNITS, MEXICO, 2015 - 2026
  1. Figure 4:  
  2. PASSENGER VEHICLES POPULATION, NUMBER OF UNITS, MEXICO, 2015 - 2026
  1. Figure 5:  
  2. MANUFACTURING VALUE ADDED, USD BILLION (CURRENT VALUE), MEXICO, 2015 - 2020
  1. Figure 6:  
  2. POWER GENERATION CAPACITY, GIGAWATT (GW), MEXICO, 2015 - 2020
  1. Figure 7:  
  2. MEXICO LUBRICANTS MARKET, VOLUME IN LITERS, BY END USER, 2015-2026
  1. Figure 8:  
  2. MEXICO LUBRICANTS MARKET, VOLUME SHARE (%), BY END USER, 2020
  1. Figure 9:  
  2. MEXICO LUBRICANTS MARKET, VOLUME IN LITERS, AUTOMOTIVE, 2015-2026
  1. Figure 10:  
  2. MEXICO LUBRICANTS MARKET, AUTOMOTIVE, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
  1. Figure 11:  
  2. MEXICO LUBRICANTS MARKET, VOLUME IN LITERS, HEAVY EQUIPMENT, 2015-2026
  1. Figure 12:  
  2. MEXICO LUBRICANTS MARKET, HEAVY EQUIPMENT, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
  1. Figure 13:  
  2. MEXICO LUBRICANTS MARKET, VOLUME IN LITERS, METALLURGY & METALWORKING, 2015-2026
  1. Figure 14:  
  2. MEXICO LUBRICANTS MARKET, METALLURGY & METALWORKING, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
  1. Figure 15:  
  2. MEXICO LUBRICANTS MARKET, VOLUME IN LITERS, POWER GENERATION, 2015-2026
  1. Figure 16:  
  2. MEXICO LUBRICANTS MARKET, POWER GENERATION, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
  1. Figure 17:  
  2. MEXICO LUBRICANTS MARKET, VOLUME IN LITERS, OTHER END-USER INDUSTRIES, 2015-2026
  1. Figure 18:  
  2. MEXICO LUBRICANTS MARKET, OTHER END-USER INDUSTRIES, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
  1. Figure 19:  
  2. MEXICO LUBRICANTS MARKET, VOLUME IN LITERS, BY PRODUCT TYPE, 2015-2026
  1. Figure 20:  
  2. MEXICO LUBRICANTS MARKET, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
  1. Figure 21:  
  2. MEXICO LUBRICANTS MARKET, VOLUME IN LITERS, ENGINE OILS, 2015-2026
  1. Figure 22:  
  2. MEXICO LUBRICANTS MARKET, ENGINE OILS, VOLUME SHARE (%), BY END USER, 2020
  1. Figure 23:  
  2. MEXICO LUBRICANTS MARKET, VOLUME IN LITERS, GREASES, 2015-2026
  1. Figure 24:  
  2. MEXICO LUBRICANTS MARKET, GREASES, VOLUME SHARE (%), BY END USER, 2020
  1. Figure 25:  
  2. MEXICO LUBRICANTS MARKET, VOLUME IN LITERS, HYDRAULIC FLUIDS, 2015-2026
  1. Figure 26:  
  2. MEXICO LUBRICANTS MARKET, HYDRAULIC FLUIDS, VOLUME SHARE (%), BY END USER, 2020
  1. Figure 27:  
  2. MEXICO LUBRICANTS MARKET, VOLUME IN LITERS, METALWORKING FLUIDS, 2015-2026
  1. Figure 28:  
  2. MEXICO LUBRICANTS MARKET, METALWORKING FLUIDS, VOLUME SHARE (%), BY END USER, 2020
  1. Figure 29:  
  2. MEXICO LUBRICANTS MARKET, VOLUME IN LITERS, TRANSMISSION & GEAR OILS, 2015-2026
  1. Figure 30:  
  2. MEXICO LUBRICANTS MARKET, TRANSMISSION & GEAR OILS, VOLUME SHARE (%), BY END USER, 2020
  1. Figure 31:  
  2. MEXICO LUBRICANTS MARKET, VOLUME IN LITERS, OTHER PRODUCT TYPES, 2015-2026
  1. Figure 32:  
  2. MEXICO LUBRICANTS MARKET, OTHER PRODUCT TYPES, VOLUME SHARE (%), BY END USER, 2020
  1. Figure 33:  
  2. MEXICO LUBRICANTS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
  1. Figure 34:  
  2. MEXICO LUBRICANTS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
  1. Figure 35:  
  2. MEXICO LUBRICANTS MARKET SHARE(%), BY MAJOR PLAYERS, 2020

Mexico Lubricants Industry Segmentation

By End User
Automotive
Heavy Equipment
Metallurgy & Metalworking
Power Generation
Other End-user Industries
By Product Type
Engine Oils
Greases
Hydraulic Fluids
Metalworking Fluids
Transmission & Gear Oils
Other Product Types
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Market Definition

  • Vehicle Types and Industrial Equipment - Automotive (Passenger Vehicles, Commercial Vehicles and Motorcycles), Power Generation, Heavy Equipment, Metallurgy & Metalworking and Other End-user Industries (Marine, Aviation etc.) are considered under the lubricants market.​
  • Product Types - For the purpose of this study, lubricant products such as engine oils, transmission & gear oils, hydraulic fluids, metalworking fluids, and greases are taken into consideration.​
  • Service Refill - Service/maintenance refill is considered while accounting the lubricant consumption for each of the vehicle and equipment, under the study.​
  • Factory Fill - First lubricant fill-ups for newly produced vehicles and industrial equipment are considered under the study.
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Research Methodology

Mordor Intelligence follows a four-step methodology in all our reports.

  • Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
  • Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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Mexico Lubricants Market Research FAQs

The Mexico Lubricants Market size is expected to reach 723.69 million Liters in 2024 and grow at a CAGR of 2.85% to reach 765.51 million Liters by 2026.

In 2024, the Mexico Lubricants Market size is expected to reach 723.69 million Liters.

Bardahl, BP Plc (Castrol), ExxonMobil Corporation, Roshfrans and Royal Dutch Shell Plc are the major companies operating in the Mexico Lubricants Market.

In the Mexico Lubricants Market, the Automotive segment accounts for the largest share by end user.

In 2024, the Power Generation segment accounts for the fastest growing by end user in the Mexico Lubricants Market.

In 2023, the Mexico Lubricants Market size was estimated at 703.21 million Liters. The report covers the Mexico Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Lubricants Market size for years: 2024, 2025 and 2026.

Mexico Lubricants Industry Report

Statistics for the 2024 Mexico Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mexico Lubricants analysis includes a market forecast outlook 202 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Mexico Lubricants Market Report Snapshots

Mexico Lubricants Market Size & Share Analysis - Growth Trends & Forecasts Up To 2026