Philippines Automotive Engine Oil Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 83.62 Million Liters |
| Market Volume (2026) | 89.53 Million Liters |
| CAGR (2024 - 2026) | 3.47 % |
| Market Concentration | High |
Philippines Automotive Engine Oil Market Analysis
The Philippines Automotive Engine Oils Market size is estimated at 83.62 Million Liters in 2024, and is expected to reach 89.53 Million Liters by 2026, growing at a CAGR of 3.47% during the forecast period (2024-2026).
- Largest Segment by Vehicle Type - Commercial Vehicles : The average engine oil capacity of heavy-duty trucks and buses was high, resulting in the commercial vehicle sector consuming the most engine oil in the Philippines.
- Fastest Segment by Vehicle Type - Motorcycles : The anticipated rebound in motorcycle production and sales in the Philippines in 2021 is expected to boost motorcycle engine oil consumption over the forecast period.
Philippines Automotive Engine Oil Market Trends
This section covers the major market trends shaping the Philippines Automotive Engine Oils Market according to our research experts:
Largest Segment By Vehicle Type : Commercial Vehicles
- During 2015-2019, engine oil consumption in the Philippines recorded a CAGR of 3.23%. In 2020, engine oils accounted for about 77.29% share of automotive lubricants. The increase in on-road vehicle population drove the engine oil consumption during this period.
- 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 an 11.66% dip in engine oil consumption. The passenger vehicle (PV) segment recorded the largest decline of 18.31% in engine oil consumption during the year.
- In the next five years, the motorcycle segment is expected to register the highest growth of about 5.72% in engine oil consumption, followed by the PV segment (3.75%). The growth is likely to be driven by the strong demand for mopeds and motorcycles in the country over the next five years.
Philippines Automotive Engine Oil Industry Overview
The Philippines Automotive Engine Oils Market is fairly consolidated, with the top five companies occupying 78.84%. The major players in this market are BP Plc (Castrol), Chevron Corporation, Petron Corporation, Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).
Philippines Automotive Engine Oil Market Leaders
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BP Plc (Castrol)
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Chevron Corporation
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Petron Corporation
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Royal Dutch Shell Plc
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TotalEnergies
*Disclaimer: Major Players sorted in no particular order
Philippines Automotive Engine Oil 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.
- June 2021: Pilipinas Shell Petroleum Corp. extended its partnership with Isuzu Philippines Corp. till 2023. In this partnership, Shell has to supply its lubricants, fuels, and other products to Isuzu for two years.
- April 2021: Motul launched two engine oils, namely CLASSIC EIGHTIES 10W-40 and CLASSIC NINETIES 10W-30, for classic cars manufactured between the 1970s and 2000s.
Philippines Automotive Engine Oil 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 BP Plc (Castrol)
5.3.2 Chevron Corporation
5.3.3 ENEOS Corporation
5.3.4 ExxonMobil Corporation
5.3.5 Idemitsu Kosan Co. Ltd
5.3.6 Motul
5.3.7 Petron Corporation
5.3.8 Phoenix Petroleum
5.3.9 Royal Dutch Shell Plc
5.3.10 TotalEnergies
6. Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
Philippines Automotive Engine Oil Industry Segmentation
| By Vehicle Type | |
| Commercial Vehicles | |
| Motorcycles | |
| Passenger Vehicles |
Philippines Automotive Engine Oil Market Research FAQs
How big is the Philippines Automotive Engine Oils Market?
The Philippines Automotive Engine Oils Market size is expected to reach 83.62 million Liters in 2024 and grow at a CAGR of 3.47% to reach 89.53 million Liters by 2026.
What is the current Philippines Automotive Engine Oils Market size?
In 2024, the Philippines Automotive Engine Oils Market size is expected to reach 83.62 million Liters.
Who are the key players in Philippines Automotive Engine Oils Market?
BP Plc (Castrol), Chevron Corporation, Petron Corporation, Royal Dutch Shell Plc and TotalEnergies are the major companies operating in the Philippines Automotive Engine Oils Market.
Which segment has the biggest share in the Philippines Automotive Engine Oils Market?
In the Philippines Automotive Engine Oils Market, the Commercial Vehicles segment accounts for the largest share by vehicle type.
Which is the fastest growing segment in the Philippines Automotive Engine Oils Market?
In 2024, the Motorcycles segment accounts for the fastest growing by vehicle type in the Philippines Automotive Engine Oils Market.
What years does this Philippines Automotive Engine Oils Market cover, and what was the market size in 2023?
In 2023, the Philippines Automotive Engine Oils Market size was estimated at 81.12 million Liters. The report covers the Philippines Automotive Engine Oils Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Philippines Automotive Engine Oils Market size for years: 2024, 2025 and 2026.
Automotive Engine Oils in Philippines Industry Report
Statistics for the 2024 Automotive Engine Oils in Philippines market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Automotive Engine Oils in Philippines analysis includes a market forecast outlook 202 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Automotive Engine Oils Market in Philippines Report Snapshots
