Philippines Passenger Vehicles Lubricants Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 10.80 Million Liters |
| Market Volume (2026) | 11.76 Million Liters |
| CAGR (2024 - 2026) | 4.35 % |
| Market Concentration | High |
Philippines Passenger Vehicles Lubricants Market Analysis
The Philippines Passenger Vehicles Lubricants Market size is estimated at 10.80 Million Liters in 2024, and is expected to reach 11.76 Million Liters by 2026, growing at a CAGR of 4.35% during the forecast period (2024-2026).
- Largest Segment by Product Type - Engine Oils : Engine oil is the leading product type due to its high volume requirements and shorter drain intervals, as it is used in high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Transmission & Gear Oils : A rise in the adoption of automatic transmissions and gradual expansion in the electric vehicles sector may boost the sector's transmission oils demand in the future.
Philippines Passenger Vehicles Lubricants Market Trends
This section covers the major market trends shaping the Philippines Passenger Vehicles Lubricants Market according to our research experts:
Largest Segment By Product Type : Engine Oils
- In the Philippines, the passenger vehicle (PV) segment is the third largest segment in terms of automotive lubricant consumption. During 2015-2019, the country recorded a CAGR of 1.80% in PV lubricant consumption, majorly driven by the rising on-road PV population.
- In 2020, PVs accounted for about 9.57% of the total automotive lubricant consumption in the country. Engine oil accounted for the largest share in PV lubricant consumption, with a share of about 85% during the year. In 2020, PV lubricant consumption declined by 18.16% due to the extended service intervals of PVs post the COVID-19 outbreak.
- During 2021-2026, the transmission oil segment is expected to be the fastest-growing segment, recording a CAGR of 5.76%. This growth is likely to be driven by a rise in sales of automatic cars and a recovery in average distance traveled in the country.
Philippines Passenger Vehicles Lubricants Industry Overview
The Philippines Passenger Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 76.11%. The major players in this market are BP Plc (Castrol), Chevron Corporation, Petron Corporation, Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).
Philippines Passenger Vehicles Lubricants 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 Passenger Vehicles Lubricants Market News
- 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.
- March 2021: Castrol announced the launch of Castrol ON (a Castrol e-fluid range that includes e-gear oils, e-coolants, and e-greases) to its product portfolio. This range is specially designed for electric vehicles.
- March 2021: Hyundai Motor Company and Royal Dutch Shell PLC announced a five-year global business cooperation agreement, with a new focus on clean energy and carbon reduction, to help Hyundai continue its transformation as a Smart Mobility Solution Provider.
Philippines Passenger Vehicles 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 Product Type
4.1.1 Engine Oils
4.1.2 Greases
4.1.3 Hydraulic Fluids
4.1.4 Transmission & Gear Oils
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 Gulf Oil International
5.3.4 Petron Corporation
5.3.5 Phoenix Petroleum
5.3.6 PTT Lubricants
5.3.7 Rainchem International Inc.
5.3.8 Royal Dutch Shell Plc
5.3.9 SEAOIL Philippines Inc.
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 Passenger Vehicles Lubricants Industry Segmentation
| By Product Type | |
| Engine Oils | |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
Philippines Passenger Vehicles Lubricants Market Research FAQs
How big is the Philippines Passenger Vehicles Lubricants Market?
The Philippines Passenger Vehicles Lubricants Market size is expected to reach 10.80 million Liters in 2024 and grow at a CAGR of 4.35% to reach 11.76 million Liters by 2026.
What is the current Philippines Passenger Vehicles Lubricants Market size?
In 2024, the Philippines Passenger Vehicles Lubricants Market size is expected to reach 10.80 million Liters.
Who are the key players in Philippines Passenger Vehicles Lubricants Market?
BP Plc (Castrol), Chevron Corporation, Petron Corporation, Royal Dutch Shell Plc and TotalEnergies are the major companies operating in the Philippines Passenger Vehicles Lubricants Market.
Which segment has the biggest share in the Philippines Passenger Vehicles Lubricants Market?
In the Philippines Passenger Vehicles Lubricants Market, the Engine Oils segment accounts for the largest share by product type.
Which is the fastest growing segment in the Philippines Passenger Vehicles Lubricants Market?
In 2024, the Transmission & Gear Oils segment accounts for the fastest growing by product type in the Philippines Passenger Vehicles Lubricants Market.
What years does this Philippines Passenger Vehicles Lubricants Market cover, and what was the market size in 2023?
In 2023, the Philippines Passenger Vehicles Lubricants Market size was estimated at 10.39 million Liters. The report covers the Philippines Passenger Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Philippines Passenger Vehicles Lubricants Market size for years: 2024, 2025 and 2026.
Philippines Passenger Vehicles Lubricants Industry Report
Statistics for the 2024 Philippines Passenger Vehicles Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Philippines Passenger Vehicles Lubricants analysis includes a market forecast outlook to 2026 and historical overview. Get a sample of this industry analysis as a free report PDF download.
