Asia-pacific Passenger Vehicles Lubricants Market - Size, Share, Forecast & Covid-19 Impact (2022 - 2027)

The Asia-pacific Passenger Vehicles Lubricants Market is segmented by Product Type ( Engine Oils, Greases, Hydraulic Fluids, Transmission Oils ) and by Country ( China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Thailand, Vietnam )

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Market Snapshot

https://s3.mordorlabs.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period: 2015 - 2026
https://s3.mordorlabs.com/base%20year/1629296433432_test~base_year_base_year.svg Base Year: 2021
https://s3.mordorlabs.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Product Type: Engine Oils
https://s3.mordorlabs.com/globe/1629285706162_test~globe_globe.svg Largest Share by Country: China
https://s3.mordorlabs.com/cagr/1629296433433_test~cagr_cagr.svg CAGR: 5.95 %

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Market Overview

The Asia-pacific Passenger Vehicles Lubricants Market stood at 3.70 billion liters in 2020 and is projected to register a CAGR of 5.95% to reach 5.24 billion liters in 2026.

  • Largest Segment by Product Type - Engine Oils : Engine oil is the leading product type due to its high volume requirements and low drain intervals. It is used for high-temperature and high-pressure applications.
  • Fastest Segment by Product Type - Transmission Oils : The expected recovery in passenger vehicle sales and production in Asia-Pacific from 2021 is likely to boost the demand for transmission oils during the forecast period.
  • Largest Country Market - China : The high lubricant consumption in China can be attributed to the high passenger vehicle population in the country, along with a high servicing frequency of the vehicles.
  • Fastest Growing Country Market - India : In India, sales growth of new and used passenger vehicles, supported by the increasing travel rate, is projected to augment the demand for lubricants at a healthy rate.

Scope of the Report

By Product Type
Engine Oils
Greases
Hydraulic Fluids
Transmission Oils
By Country
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Thailand
Vietnam
Rest of Asia-Pacific

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Key Market Trends

Largest Segment By Product Type : Engine Oils

  • During 2015-2019, lubricant consumption in the Asia-Pacific passenger vehicle (PV) market recorded a CAGR of 4.52%. Engine oil was the dominating lubricant product type in this market, which accounted for a share of 79.12% in lubricant consumption in 2020. Engine oil was followed by transmission oils, which accounted for around 14.7% of the lubricant consumption in 2020.
  • In 2020, post the COVID-19 pandemic, the usage of passenger cars significantly dropped due to the restrictions put in place as a response to the pandemic. As a result, automotive lubricant consumption fell by 4.69% in comparison to 2019.
  • The expected recovery in production and sales of new passenger vehicles is likely to drive the lubricant consumption in this market. As a result, PV lubricant consumption is likely to witness a CAGR of 5.16% during 2021-2026.

Largest Country : China

  • In the Asia-Pacific region, passenger vehicle (PV) lubricant consumption is the highest in China, followed by India and Japan. In 2020, China accounted for 63.01% of total PV lubricant consumption in the region, while India and Japan accounted for a share of 10.83% and 6.76%, respectively.
  • The declined usage of passenger vehicles after the COVID-19 pandemic has negatively affected the PV lubricant consumption across the region in 2020. The Philippines was the most affected as it witnessed an 18.16% drop in consumption during 2019-2020, followed by Indonesia, which witnessed a 17.84% drop.
  • During 2021-2026, India is likely to be the fastest-growing PV lubricant market as the consumption is likely to grow at a CAGR of 6.57%, followed by China and Indonesia, which are expected to witness a CAGR of 5.80% and 4.79%, respectively.

Competitive Landscape

The Asia-pacific Passenger Vehicles Lubricants Market is moderately consolidated, with the top five companies occupying 56.89%. The major players in this market are BP PLC (Castrol), China National Petroleum Corporation, China Petroleum & Chemical Corporation, ExxonMobil Corporation and Royal Dutch Shell Plc (sorted alphabetically).

Recent Developments

    Table of Contents

    1. 1. Executive Summary & Key Findings

    2. 2. Introduction

      1. 2.1 Study Assumptions & Market Definition

      2. 2.2 Scope of the Study​

      3. 2.3 Research Methodology

    3. 3. Key Industry Trends

      1. 3.1 Automotive Industry Trends

      2. 3.2 Regulatory Framework

      3. 3.3 Value Chain & Distribution Channel Analysis

    4. 4. Market Segmentation

      1. 4.1 By Product Type

        1. 4.1.1 Engine Oils

        2. 4.1.2 Greases

        3. 4.1.3 Hydraulic Fluids

        4. 4.1.4 Transmission Oils

      2. 4.2 By Country

        1. 4.2.1 China

        2. 4.2.2 India

        3. 4.2.3 Indonesia

        4. 4.2.4 Japan

        5. 4.2.5 Malaysia

        6. 4.2.6 Philippines

        7. 4.2.7 Singapore

        8. 4.2.8 South Korea

        9. 4.2.9 Thailand

        10. 4.2.10 Vietnam

        11. 4.2.11 Rest of Asia-Pacific

    5. 5. Competitive Landscape

      1. 5.1 Key Strategic Moves

      2. 5.2 Market Share Analysis

      3. 5.3 Company Profiles

        1. 5.3.1 BP PLC (Castrol)

        2. 5.3.2 China National Petroleum Corporation

        3. 5.3.3 China Petroleum & Chemical Corporation

        4. 5.3.4 ENEOS Corporation

        5. 5.3.5 ExxonMobil Corporation

        6. 5.3.6 Idemitsu Kosan Co. Ltd

        7. 5.3.7 Indian Oil Corporation Limited

        8. 5.3.8 PETRONAS Lubricants International

        9. 5.3.9 Royal Dutch Shell Plc

        10. 5.3.10 TotalEnergies

    6. 6. Appendix

      1. 6.1 Appendix-1 References

      2. 6.2 Appendix-2 List of Tables & Figures

    7. 7. Key Strategic Questions for Lubricants CEOs

    List of Tables & Figures

      Figure 1:  

      PASSENGER VEHICLES POPULATION, NUMBER OF UNITS, ASIA-PACIFIC, 2015 - 2026

      Figure 2:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, BY PRODUCT TYPE, 2015-2026

      Figure 3:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 4:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, ENGINE OILS, 2015-2026

      Figure 5:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, ENGINE OILS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

      Figure 6:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, GREASES, 2015-2026

      Figure 7:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, GREASES, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

      Figure 8:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, HYDRAULIC FLUIDS, 2015-2026

      Figure 9:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, HYDRAULIC FLUIDS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

      Figure 10:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, TRANSMISSION OILS, 2015-2026

      Figure 11:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, TRANSMISSION OILS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

      Figure 12:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, BY COUNTRY, 2015-2026

      Figure 13:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME SHARE (%), BY COUNTRY, 2020

      Figure 14:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, CHINA, 2015-2026

      Figure 15:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, CHINA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 16:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, INDIA, 2015-2026

      Figure 17:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, INDIA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 18:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, INDONESIA, 2015-2026

      Figure 19:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, INDONESIA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 20:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, JAPAN, 2015-2026

      Figure 21:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, JAPAN, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 22:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, MALAYSIA, 2015-2026

      Figure 23:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, MALAYSIA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 24:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, PHILIPPINES, 2015-2026

      Figure 25:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, PHILIPPINES, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 26:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, SINGAPORE, 2015-2026

      Figure 27:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, SINGAPORE, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 28:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, SOUTH KOREA, 2015-2026

      Figure 29:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, SOUTH KOREA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 30:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, THAILAND, 2015-2026

      Figure 31:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, THAILAND, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 32:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, VIETNAM, 2015-2026

      Figure 33:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, VIETNAM, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 34:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, REST OF ASIA-PACIFIC, 2015-2026

      Figure 35:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, REST OF ASIA-PACIFIC, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 36:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021

      Figure 37:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021

      Figure 38:  

      ASIA-PACIFIC PASSENGER VEHICLES LUBRICANTS MARKET SHARE(%), BY MAJOR PLAYERS, 2020

    Market Definition

    • Vehicle Types - Passenger Vehicles, Commercial Vehicles and Motorcycles are the vehicle types considered under the automotive lubricants market.
    • Product Types - For the purpose of this study, lubricant products such as engine oils, transmission oils, greases and hydraulic fluids are taken into consideration.
    • Service Refill - Service refill is the primary factor considered while accounting the lubricant consumption for each of the vehicle segments, under the study.
    • Factory Fill - First lubricant fill-ups for newly produced vehicles are considered.

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    Research Methodology

    Mordor Intelligence follows a four-step methodology in all our reports.

    • Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
    • Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
    • Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
    • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms

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    Frequently Asked Questions

    The Asia-pacific Passenger Vehicles Lubricants Market market is studied from 2015 - 2026.

    The Asia-pacific Passenger Vehicles Lubricants Market stood at 3.70 billion liters in 2020 and is projected to register a CAGR of 5.95% to reach 5.24 billion liters in 2026.

    Engine oil is the leading product type due to its high volume requirements and low drain intervals. It is used for high-temperature and high-pressure applications.

    The expected recovery in passenger vehicle sales and production in Asia-Pacific from 2021 is likely to boost the demand for transmission oils during the forecast period.

    The high lubricant consumption in China can be attributed to the high passenger vehicle population in the country, along with a high servicing frequency of the vehicles.

    In India, sales growth of new and used passenger vehicles, supported by the increasing travel rate, is projected to augment the demand for lubricants at a healthy rate.

    BP PLC (Castrol),China National Petroleum Corporation,China Petroleum & Chemical Corporation,ExxonMobil Corporation and Royal Dutch Shell Plc. are the major companies operating in Asia-pacific Passenger Vehicles Lubricants Market.