Vietnam Passenger Vehicles Lubricants Market Analysis by Mordor Intelligence
The Vietnam Passenger Vehicles Lubricants Market size is estimated at 17.50 million liters in 2025, and is expected to reach 20.36 million liters by 2030, at a CAGR of 3.07% during the forecast period (2025-2030).
- 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 : The expected growth in the penetration of automatic transmissions and increasing need for older cars are expected to augment the transmission oils segment in the near future.
Vietnam Passenger Vehicles Lubricants Market Trends and Insights
Largest Segment By Product Type : Engine Oils
- In Vietnam, passenger vehicles (PVs) is the smallest segment in terms of automotive lubricant consumption. During 2015-2019, the PV lubricant consumption witnessed a CAGR of 4.69%, primarily due to the surge in the country's active car population.
- In 2020, PVs accounted for about 7.35% 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 86.48% during 2020. During 2020, PV lubricants consumption declined by 15.83% due to the lower usage of the vehicle fleet post-COVID-19 outbreak.
- During 2021-2026, the transmission oils segment is likely to be the fastest-growing, with a CAGR of 6.32%. This growth is likely to be driven by rising sales of automatic passenger cars and recovery in average distance traveled in the country.
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Competitive Landscape
The Vietnam Passenger Vehicles Lubricants Market is moderately consolidated, with the top five companies occupying 59.31%. The major players in this market are BP Plc (Castrol), Mekong Petrochemical JSC, Petrolimex (PLX), Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).
Vietnam Passenger Vehicles Lubricants Industry Leaders
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BP Plc (Castrol)
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Mekong Petrochemical JSC
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Petrolimex (PLX)
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Royal Dutch Shell Plc
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TotalEnergies
- *Disclaimer: Major Players sorted in no particular order
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Recent Industry Developments
- April 2021: Motul launched two engine oils, namely CLASSIC EIGHTIES 10W-40 and CLASSIC NINETIES 10W-30, for classic cars manufactured between the 1970s and 2000s.
- 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.
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Vietnam Passenger Vehicles Lubricants Market Report Scope
By Product Type
| Engine Oils |
| Greases |
| Hydraulic Fluids |
| Transmission & Gear Oils |
| By Product Type | Engine Oils |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
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Key Questions Answered in the Report
How big is the Vietnam Passenger Vehicles Lubricants Market?
The Vietnam Passenger Vehicles Lubricants Market size is expected to reach 17.50 million Liters in 2025 and grow at a CAGR of 3.07% to reach 20.36 million Liters by 2030.
What is the current Vietnam Passenger Vehicles Lubricants Market size?
In 2025, the Vietnam Passenger Vehicles Lubricants Market size is expected to reach 17.50 million Liters.
Who are the key players in Vietnam Passenger Vehicles Lubricants Market?
BP Plc (Castrol), Mekong Petrochemical JSC, Petrolimex (PLX), Royal Dutch Shell Plc and TotalEnergies are the major companies operating in the Vietnam Passenger Vehicles Lubricants Market.
What years does this Vietnam Passenger Vehicles Lubricants Market cover, and what was the market size in 2024?
In 2024, the Vietnam Passenger Vehicles Lubricants Market size was estimated at 16.96 million Liters. The report covers the Vietnam Passenger Vehicles Lubricants Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Vietnam Passenger Vehicles Lubricants Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Vietnam Passenger Vehicles Lubricants Market Report
Statistics for the 2025 Vietnam Passenger Vehicles Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vietnam Passenger Vehicles Lubricants analysis includes a market forecast outlook for 2025 to 2030) and historical overview. Get a sample of this industry analysis as a free report PDF download.
