Thailand Automotive Lubricants Market Size
| Study Period | 2018 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 440.50 Million Liters |
| Market Volume (2026) | 460.24 Million Liters |
| CAGR (2024 - 2026) | 2.22 % |
| Market Concentration | High |
Thailand Automotive Lubricants Market Analysis
The Thailand Automotive Lubricants Market size is estimated at 440.5 Million Liters in 2024, and is expected to reach 460.24 Million Liters by 2026, growing at a CAGR of 2.22% during the forecast period (2024-2026).
- Largest Segment by Vehicle Type - Commercial Vehicles : Thailand has a large active passenger vehicle parc. As a result, the lubricant consumption of this sector occupies the highest share in the overall lubricant market.
- Fastest Segment by Vehicle Type - Passenger Vehicles : The recovery in motorcycle production, usage, and sales in Thailand from 2021 are likely to support the motorcycle lubricant market's healthy growth over the coming years.
- 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 for high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Hydraulic Fluids : The expected recovery of automotive sales and production in Thailand from 2021 is likely to drive the demand for hydraulic fluids in the country during the forecast period.
Thailand Automotive Lubricants Market Trends
This section covers the major market trends shaping the Thailand Automotive Lubricants Market according to our research experts:
Largest Segment By Vehicle Type : Commercial Vehicles
- In Thailand, motorcycles accounted for the largest share of 52.9% among the total number of on-road vehicles in 2020, followed by passenger vehicles (PVs) and commercial vehicles (CVs), with a share of 26.97% and 20.12%, respectively.
- The CV segment accounted for the highest share of 79% in total automotive lubricants consumption in 2020, followed by passenger vehicles (13%) and motorcycles (8%), respectively. In 2020, the COVID-19 outbreak led to a notable dip in lubricants consumption, where motorcycle lubricant consumption recorded the highest dip of 16.06%, followed by passenger vehicles (15.7%).
- The PV segment is projected to be the fastest-growing lubricant consumer, with a CAGR of 4.6% during 2021-2026. The expected initiation in sales of electric vehicles and recovery in average distance traveled by existing fleets are expected to drive the PV lubricant consumption during this period.
Thailand Automotive Lubricants Industry Overview
The Thailand Automotive Lubricants Market is moderately consolidated, with the top five companies occupying around 53%. The major players in this market are Bangchak Corporation, CHEVRON CORPORATION, ExxonMobil Corporation, PTT Lubricants and Royal Dutch Shell Plc (sorted alphabetically).
Thailand Automotive Lubricants Market Leaders
-
Bangchak Corporation
-
CHEVRON CORPORATION
-
ExxonMobil Corporation
-
PTT Lubricants
-
Royal Dutch Shell Plc
*Disclaimer: Major Players sorted in no particular order
Thailand 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.
- 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 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
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 ENEOS Corporation
5.3.5 ExxonMobil Corporation
5.3.6 Idemitsu Kosan Co. Ltd
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 Lubricants Industry Segmentation
| By Vehicle Type | |
| Commercial Vehicles | |
| Motorcycles | |
| Passenger Vehicles |
| By Product Type | |
| Engine Oils | |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
Thailand Automotive Lubricants Market Research FAQs
How big is the Thailand Automotive Lubricants Market?
The Thailand Automotive Lubricants Market size is expected to reach 440.50 million Liters in 2024 and grow at a CAGR of 2.22% to reach 460.24 million Liters by 2026.
What is the current Thailand Automotive Lubricants Market size?
In 2024, the Thailand Automotive Lubricants Market size is expected to reach 440.50 million Liters.
Who are the key players in Thailand Automotive Lubricants Market?
Bangchak Corporation, CHEVRON CORPORATION, ExxonMobil Corporation, PTT Lubricants and Royal Dutch Shell Plc are the major companies operating in the Thailand Automotive Lubricants Market.
Which segment has the biggest share in the Thailand Automotive Lubricants Market?
In the Thailand Automotive Lubricants Market, the Commercial Vehicles segment accounts for the largest share by vehicle type.
Which is the fastest growing segment in the Thailand Automotive Lubricants Market?
In 2024, the Passenger Vehicles segment accounts for the fastest growing by vehicle type in the Thailand Automotive Lubricants Market.
What years does this Thailand Automotive Lubricants Market cover, and what was the market size in 2023?
In 2023, the Thailand Automotive Lubricants Market size was estimated at 427.75 million Liters. The report covers the Thailand Automotive Lubricants Market historical market size for years: 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Thailand Automotive Lubricants Market size for years: 2024, 2025 and 2026.
Automotive Lubricant in Thailand Industry Report
Statistics for the 2024 Automotive Lubricant in Thailand market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Automotive Lubricant in Thailand analysis includes a market forecast outlook 202 and historical overview. Get a sample of this industry analysis as a free report PDF download.
