|Study Period:||2015 - 2026|
|Largest Share by Vehicle Type:||Passenger Vehicles|
|Fastest Growing by Vehicle Type:||Commercial Vehicles|
The Bulgaria Automotive Engine Oils Market is at 13.56 million liters in 2021 and is projected to register a CAGR of 2.22% to reach 15.13 million liters in 2026. In 2020, the COVID-19 outbreak disrupted the economy of Bulgaria and consumer travel activities, causing a sudden dip of over 12% in engine oil consumption, in the passenger vehicle segment.
- Largest Segment by Vehicle Type - Passenger Vehicles : The highest engine oil consumption in the passenger vehicles sector is attributed to the large existing fleet of used passenger vehicle population in the country.
- Fastest Segment by Vehicle Type - Commercial Vehicles : The expected recovery in the sales of commercial vehicles in the country from 2021 is anticipated to boost engine oil consumption levels during the forecast period.
Scope of the Report
|By Vehicle Type|
Key Market Trends
Largest Segment By Vehicle Type : Passenger Vehicles
- The primary role of engine oils is to ensure that engines are adequately lubricated to run smoothly and have a longer lifespan. In 2020, engine oils accounted for a 74.29% volume share of the overall automotive lubricant share. Engine oil consumption increased at a CAGR of 2.22% during 2015-2019 due to the rising population of used cars and commercial trucks.
- In 2020, the COVID-19 outbreak resulted in a huge decline in the usage of the existing vehicle fleet of the country. Hence, engine oil consumption in the country decreased by around 12.86% compared to 2019.
- During 2021-2026, engine oil consumption is expected to increase at a CAGR of 2.22%. The smaller impact of engine downsizing in future models and the increase in the number of vehicles present on the road in Bulgaria are the primary reasons behind such optimistic growth projections.
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The Bulgaria Automotive Engine Oils Market is fairly consolidated, with the top five companies occupying 93.57%. The major players in this market are BP PLC (Castrol), ExxonMobil Corporation, Prista Oil, Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).
- May 2021: ADDINOL developed ADDINOL Professional 0530 FA-4, which is a high-performance motor oil for commercial vehicles with reduced HTHS viscosity.
- April 2021: Texaco Lubricants introduced three new engine oils within the successful Texaco Havoline ProDS range, each with manufacturer approvals. The oils have been designed to provide enhanced wear protection even with a lubricant layer of 2 microns.
- April 2021: FUCHS Lubricants unveiled TITAN GT1 FLEX C23 SAE 5W-30, a new high-performance engine oil for use in passenger cars and vans.
Table of Contents
1. Executive Summary & Key Findings
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
3.1.1 Overall Vehicles
3.1.2 Commercial Vehicles
3.1.4 Passenger Vehicles
3.2 Regulatory Framework
3.3 Value Chain & Distribution Channel Analysis
4. Market Segmentation
4.1 By Product Grade
4.2 By Vehicle Type
4.2.1 Commercial Vehicles
4.2.3 Passenger Vehicles
5. Competitive Landscape
5.1 Key Strategic Moves
5.2 Market Share Analysis
5.3 Company Profiles
5.3.1 AVIA International
5.3.2 BP PLC (Castrol)
5.3.3 CHEVRON CORPORATION
5.3.4 ExxonMobil Corporation
5.3.6 LIQUI MOLY
5.3.8 Prista Oil
5.3.9 Royal Dutch Shell Plc
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
List of Tables & Figures
VEHICLE POPULATION, NUMBER OF UNITS, BULGARIA, 2015 - 2026
COMMERCIAL VEHICLES POPULATION, NUMBER OF UNITS, BULGARIA, 2015 - 2026
MOTORCYCLES POPULATION, NUMBER OF UNITS, BULGARIA, 2015 - 2026
PASSENGER VEHICLES POPULATION, NUMBER OF UNITS, BULGARIA, 2015 - 2026
BULGARIA AUTOMOTIVE ENGINE OILS MARKET, VOLUME SHARE (%), BY PRODUCT GRADE, 2020
BULGARIA AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, BY VEHICLE TYPE, 2015-2026
BULGARIA AUTOMOTIVE ENGINE OILS MARKET, VOLUME SHARE (%), BY VEHICLE TYPE, 2020
BULGARIA AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, COMMERCIAL VEHICLES, 2015-2026
BULGARIA AUTOMOTIVE ENGINE OILS MARKET, COMMERCIAL VEHICLES, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
BULGARIA AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, MOTORCYCLES, 2015-2026
BULGARIA AUTOMOTIVE ENGINE OILS MARKET, MOTORCYCLES, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
BULGARIA AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, PASSENGER VEHICLES, 2015-2026
BULGARIA AUTOMOTIVE ENGINE OILS MARKET, PASSENGER VEHICLES, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
BULGARIA AUTOMOTIVE ENGINE OILS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
BULGARIA AUTOMOTIVE ENGINE OILS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
BULGARIA AUTOMOTIVE ENGINE OILS MARKET SHARE(%), BY MAJOR PLAYERS, 2019
- 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.
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