How big is the Vietnam Automotive Lubricants Market?

The Vietnam Automotive Lubricants Market size is expected to reach 244.50 million Liters in 2024 and grow at a CAGR of 4.33% to reach 266.13 million Liters by 2026. Read More

What is the current Vietnam Automotive Lubricants Market size?

In 2024, the Vietnam Automotive Lubricants Market size is expected to reach 244.50 million Liters. Read More

Who are the key players in Vietnam Automotive Lubricants Market?

BP Plc (Castrol), Mekong Petrochemical JSC, Petrolimex (PLX), Royal Dutch Shell Plc and TotalEnergies are the major companies operating in the Vietnam Automotive Lubricants Market. Read More

Which segment has the biggest share in the Vietnam Automotive Lubricants Market?

In the Vietnam Automotive Lubricants Market, the Motorcycles segment accounts for the largest share by vehicle type. Read More

Which is the fastest growing segment in the Vietnam Automotive Lubricants Market?

In 2024, the Motorcycles segment accounts for the fastest growing by vehicle type in the Vietnam Automotive Lubricants Market. Read More

What years does this Vietnam Automotive Lubricants Market cover, and what was the market size in 2023?

In 2023, the Vietnam Automotive Lubricants Market size was estimated at 233.94 million Liters. The report covers the Vietnam Automotive Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Vietnam Automotive Lubricants Market size for years: 2024, 2025 and 2026. Read More

Vietnam Automotive Lubricants Market Trends

Statistics for the 2023 & 2024 Vietnam Automotive Lubricants market trends, created by Mordor Intelligence™ Industry Reports. Vietnam Automotive Lubricants trend report includes a market forecast to 202 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Vietnam Automotive Lubricants Industry

This section covers the major market trends shaping the Vietnam Automotive Lubricants Market according to our research experts:

Largest Segment By Vehicle Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Motorcycles</span>

In Vietnam, motorcycles accounted for the largest share, 94.08%, in the total number of on-road vehicles in 2020, followed by passenger vehicles (PVs) and commercial vehicles (CVs), with a share of 3.70% and 2.22%, respectively.
The MC segment accounted for the highest share, 71.38%, in the total automotive lubricant consumption in 2020, followed by CV (21.27%) and PV (7.35%), respectively. In 2020, the COVID-19 outbreak led to a notable dip in lubricant consumption, where PV lubricant consumption recorded the highest dip of 15.83%, followed by CV (7.11%) and MC (2.91%).
The motorcycle segment is projected to be the fastest-growing lubricant consumer, with a CAGR of 4.85% over the period 2021-2026. The growth is expected to be driven by the recovery in mopeds and motorcycles production and sales in the coming years.