Thailand Automotive Engine Oils Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 276.84 Million Liters |
| Market Volume (2026) | 286.45 Million Liters |
| CAGR (2024 - 2026) | 1.72 % |
| Market Concentration | High |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Thailand Automotive Engine Oils Market Analysis
The Thailand Automotive Engine Oils Market size is estimated at 276.84 Million Liters in 2024, and is expected to reach 286.45 Million Liters by 2026, growing at a CAGR of 1.72% during the forecast period (2024-2026).
- Largest Segment by Vehicle Type - Commercial Vehicles : The average engine oil consumption of commercial vehicles is high. As a result, this sector accounted for the largest share of the overall engine oil consumption.
- Fastest Segment by Vehicle Type - Passenger Vehicles : The recovery of car production and sales in Thailand from 2021 is expected to be at a faster rate, boosting the growth rate of engine oil consumption in the near future.
Thailand Automotive Engine Oils Market Trends
This section covers the major market trends shaping the Thailand Automotive Engine Oils Market according to our research experts:
Largest Segment By Vehicle Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Commercial Vehicles</span>
- In Thailand, engine oils accounted for about 64% of automotive lubricants in 2020. During 2015-2019, engine oil consumption in the country recorded a CAGR of 0.22%. The increase in the vehicle population drove 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 a 14.4% dip in engine oil consumption. The motorcycle segment recorded the largest decline of 16.4% in engine oil consumption during the year.
- Over the forecast period, the passenger vehicle (PV) segment is expected to register the highest growth of about 4.57% in engine oil consumption. The growth is likely to be driven by PV sales in the country over the next five years. However, the growth is likely to be restrained to some extent due to the increasing electric vehicle sales and usage of synthetic oils.
Thailand Automotive Engine Oils Industry Overview
The Thailand Automotive Engine Oils Market is moderately consolidated, with the top five companies occupying 56.88%. The major players in this market are Bangchak Corporation, CHEVRON CORPORATION, ExxonMobil Corporation, PTT Lubricants and Royal Dutch Shell Plc (sorted alphabetically).
Thailand Automotive Engine Oils Market Leaders
-
Bangchak Corporation
-
CHEVRON CORPORATION
-
ExxonMobil Corporation
-
PTT Lubricants
-
Royal Dutch Shell Plc
*Disclaimer: Major Players sorted in no particular order
Thailand 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.
- September 2021: ExxonMobil Asia Pacific Pte Ltd established the MobilSM Fleet Care (MFC) program for its lubricant clients, which provides fleet owners and operators with a holistic picture of their fleet's operating performance.
- June 2021: Shell and Ezyhaul (a digital road freight platform) were working closely to transform Thailand's freight market further. The partnership is expected to provide Thai business owners with immediate access to Shell and Ezyhaul offerings and prospects to expand their operations.
Thailand 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 Bangchak Corporation
5.3.2 BP PLC (Castrol)
5.3.3 CHEVRON CORPORATION
5.3.4 ExxonMobil Corporation
5.3.5 LIQUI MOLY
5.3.6 PTG Energy Public Company Limited
5.3.7 PTT Lubricants
5.3.8 Royal Dutch Shell Plc
5.3.9 Siam Pan Group Public Co. Ltd
5.3.10 Thai Petroleum & Trading Co. Ltd
6. Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
Thailand Automotive Engine Oils Industry Segmentation
| By Vehicle Type | |
| Commercial Vehicles | |
| Motorcycles | |
| Passenger Vehicles |
Thailand Automotive Engine Oils Market Research FAQs
How big is the Thailand Automotive Engine Oils Market?
The Thailand Automotive Engine Oils Market size is expected to reach 276.84 million Liters in 2024 and grow at a CAGR of 1.72% to reach 286.45 million Liters by 2026.
What is the current Thailand Automotive Engine Oils Market size?
In 2024, the Thailand Automotive Engine Oils Market size is expected to reach 276.84 million Liters.
Who are the key players in Thailand Automotive Engine Oils Market?
Bangchak Corporation, CHEVRON CORPORATION, ExxonMobil Corporation, PTT Lubricants and Royal Dutch Shell Plc are the major companies operating in the Thailand Automotive Engine Oils Market.
Which segment has the biggest share in the Thailand Automotive Engine Oils Market?
In the Thailand Automotive Engine Oils Market, the Commercial Vehicles segment accounts for the largest share by vehicle type.
Which is the fastest growing segment in the Thailand Automotive Engine Oils Market?
In 2024, the Passenger Vehicles segment accounts for the fastest growing by vehicle type in the Thailand Automotive Engine Oils Market.
What years does this Thailand Automotive Engine Oils Market cover, and what was the market size in 2023?
In 2023, the Thailand Automotive Engine Oils Market size was estimated at 269.85 million Liters. The report covers the Thailand Automotive Engine Oils Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Thailand Automotive Engine Oils Market size for years: 2024, 2025 and 2026.
Thailand Engine Oil Industry Report
Statistics for the 2023 Thailand Engine Oil market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Thailand Engine Oil analysis includes a market forecast outlook to 202 and historical overview. Get a sample of this industry analysis as a free report PDF download.
