South America Automotive Lubricants Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 1.61 Billion Liters |
| Market Volume (2026) | 1.72 Billion Liters |
| CAGR (2024 - 2026) | 3.36 % |
| Market Concentration | High |
South America Automotive Lubricants Market Analysis
The South America Automotive Lubricants Market size is estimated at 1.61 Billion Liters in 2024, and is expected to reach 1.72 Billion Liters by 2026, growing at a CAGR of 3.36% during the forecast period (2024-2026).
- Largest Segment by Vehicle Type - Commercial Vehicles : South America has a large number of pick-up trucks used for freight transportation. The region's aging CV fleet has been driving the need for lubricants during service.
- Fastest Segment by Vehicle Type - Motorcycles : Post-COVID-19, there has been an increase in demand for used and high-end motorcycles in countries such as Brazil, which is likely to augment the motorcycle lubricant demand.
- Largest Country Market - Brazil : Brazil has the highest proportion of PV, CV, and motorcycle fleets among all South American countries, making it the leading regional consumer of automotive lubricants.
- Fastest Growing Country Market - Colombia : The growing age of the motor vehicle fleet in Colombia, which requires more automotive lubricants than new vehicles, is propelling the Colombian market at a quicker rate.
South America Automotive Lubricants Market Trends
This section covers the major market trends shaping the South America Automotive Lubricants Market according to our research experts:
Largest Segment By Vehicle Type : Commercial Vehicles
- In South America, passenger vehicles (PV) accounted for the largest share of 52.42% in the total number of on-road vehicles in 2020, followed by motorcycles (MC) and commercial vehicles (CV), with shares of 24.2% and 31.53%, respectively.
- In the South American region, the commercial vehicle (CV) segment accounted for almost 45.9% share in the total number of on-road vehicles during 2020, followed by passenger vehicles (PV) and motorcycles (MC) with 42.6% and 11.4% shares, respectively. During the same year, travel restrictions to curb the COVID-19 outbreak significantly affected the usage of these vehicles and their lubricant consumption.
- During 2021-2026, the motorcycle segment is expected to witness the highest CAGR of 5.52%. The recovery of motorcycle sales combined with the easing down of COVID-19-related travel restrictions are likely to be the key factors driving this trend.
Largest Country : Brazil
- In the South American region, automotive lubricant consumption is the highest in Brazil, followed by Argentina and Colombia. In 2020, Brazil accounted for about 60% of the total automotive lubricant consumption in the region, whereas Argentina and Colombia accounted for shares of around 11.14% and 6.97%, respectively.
- The COVID-19 outbreak in 2020 significantly affected automotive lubricant consumption in many countries in the region. Argentina was the most affected with a 9.6% drop during 2019-2020, whereas Brazil was the least affected with a 7.73% drop in its automotive lubricant consumption.
- During 2021-2026, Colombia is likely to be the fastest-growing lubricant market as the consumption is likely to witness a CAGR of 4.82%, followed by Argentina and Brazil, which are expected to witness a CAGR of 3.82% and 3.53%, respectively.
South America Automotive Lubricants Industry Overview
The South America Automotive Lubricants Market is moderately consolidated, with the top five companies occupying 59.15%. The major players in this market are ExxonMobil Corporation, Iconic Lubrificantes, Petrobras, Royal Dutch Shell Plc and Terpel (sorted alphabetically).
South America Automotive Lubricants Market Leaders
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ExxonMobil Corporation
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Iconic Lubrificantes
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Petrobras
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Royal Dutch Shell Plc
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Terpel
*Disclaimer: Major Players sorted in no particular order
South America Automotive Lubricants 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: Ipiranga stations in Brazil began offering Texaco lubricants, a brand long recommended by major automakers in Brazil and worldwide, over the whole network.
- June 2021: TotalEnergies and Stellantis renewed their commercial partnership for the Peugeot, Citroen, and DS Automobiles brands for the next five years until 2026.
South America Automotive 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 Vehicle Type
4.1.1 Commercial Vehicles
4.1.2 Motorcycles
4.1.3 Passenger Vehicles
4.2 By Product Type
4.2.1 Engine Oils
4.2.2 Greases
4.2.3 Hydraulic Fluids
4.2.4 Transmission & Gear Oils
4.3 By Country
4.3.1 Argentina
4.3.2 Brazil
4.3.3 Colombia
4.3.4 Rest of South America
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 ExxonMobil Corporation
5.3.4 Iconic Lubrificantes
5.3.5 Petrobras
5.3.6 PETRONAS Lubricants International
5.3.7 Royal Dutch Shell Plc
5.3.8 Terpel
5.3.9 TotalEnergies
5.3.10 YPF
6. Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
South America Automotive Lubricants Industry Segmentation
| By Vehicle Type | |
| Commercial Vehicles | |
| Motorcycles | |
| Passenger Vehicles |
| By Product Type | |
| Engine Oils | |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
| By Country | |
| Argentina | |
| Brazil | |
| Colombia | |
| Rest of South America |
South America Automotive Lubricants Market Research FAQs
How big is the South America Automotive Lubricants Market?
The South America Automotive Lubricants Market size is expected to reach 1.61 billion Liters in 2024 and grow at a CAGR of 3.36% to reach 1.72 billion Liters by 2026.
What is the current South America Automotive Lubricants Market size?
In 2024, the South America Automotive Lubricants Market size is expected to reach 1.61 billion Liters.
Who are the key players in South America Automotive Lubricants Market?
ExxonMobil Corporation, Iconic Lubrificantes, Petrobras, Royal Dutch Shell Plc and Terpel are the major companies operating in the South America Automotive Lubricants Market.
Which segment has the biggest share in the South America Automotive Lubricants Market?
In the South America Automotive Lubricants Market, the Commercial Vehicles segment accounts for the largest share by vehicle type.
Which country has the biggest share in the South America Automotive Lubricants Market?
In 2024, Brazil accounts for the largest share by country in the South America Automotive Lubricants Market.
What years does this South America Automotive Lubricants Market cover, and what was the market size in 2023?
In 2023, the South America Automotive Lubricants Market size was estimated at 1.57 billion Liters. The report covers the South America Automotive Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South America Automotive Lubricants Market size for years: 2024, 2025 and 2026.
South America Automotive Lubricants Industry Report
Statistics for the 2023 South America Automotive Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South America Automotive Lubricants analysis includes a market forecast outlook to 202 and historical overview. Get a sample of this industry analysis as a free report PDF download.
