Bulgaria Passenger Vehicles Lubricants Market Size
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Study Period: | 2015 - 2026 |
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Largest Share by Product Type: | Engine Oils |
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Fastest Growing by Product Type: | Hydraulic Fluids |
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CAGR: | 1.79 % |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Bulgaria Passenger Vehicles Lubricants Market Analysis
The Bulgaria Passenger Vehicles Lubricants Market is at 12.03 million liters in 2021 and is projected to register a CAGR of 1.79% to reach 13.15 million liters in 2026. Uncertainity around the fluctuations in COVID outbreak, closure of borders and changing consumer preferences have been severly impact the imports and sales of motorcycles in Bulgaria.
- Largest Segment by Product Type - Engine Oils : Engine oils form the leading product type due to their high volume requirements and short drain intervals, as they are used in high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Hydraulic Fluids : In Bulgaria, the expected recovery in the imports, sales, and usage of used cars since 2021 is likely to drive the demand for hydraulic fluids during the forecast period.
Bulgaria Passenger Vehicles Lubricants Industry Segmentation
| By Product Type | |
| Engine Oils | |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
Bulgaria Passenger Vehicles Lubricants Market Trends
This section covers the major market trends shaping the Bulgaria Passenger Vehicles Lubricants Market according to our research experts:
Largest Segment By Product Type : Engine Oils
- The share of the passenger vehicles (PV) segment in the automotive lubricants market decreased from 68.91% in 2015 to 66.41% in 2019. Consumption of lubricants in the PV segment however recorded a CAGR of 1.76% during 2015-2019. This trend was directly proportional to the number of vehicles in use.
- In 2020, passenger car population increased by 0.82%, which was quite low compared to the growth rate in the past few years. The consumption of lubricants in the PV segment experienced a drop of 15.25% in 2020.
- The increasing consumer preference to buy used cars is estimated to grow the population of cars in the future. Currently, Bulgaria does not have strict emission standards or a scrappage policy. Hence, few European countries tend to export their old vehicles to Bulgaria. As a result, the consumption in the PV segment is expected to record a CAGR of 1.79% during 2021-2026.
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Bulgaria Passenger Vehicles Lubricants Industry Overview
The Bulgaria Passenger Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 98.10%. The major players in this market are BP PLC (Castrol), ExxonMobil Corporation, Prista Oil, Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).
Bulgaria Passenger Vehicles Lubricants Market Leaders
BP PLC (Castrol)
ExxonMobil Corporation
Prista Oil
Royal Dutch Shell Plc
TotalEnergies
*Disclaimer: Major Players sorted in no particular order
Bulgaria Passenger Vehicles Lubricants Market News
- June 2021: TotalEnergies and Stellantis group renewed their partnership for cooperation across different segments. Along with the renewal of partnerships with Peugeot, Citroën, and DS Automobiles, the new collaboration extends to Opel, and Vauxhall as well. This partnership includes the development and innovation of lubricants, first-fill in Stellantis group vehicles, recommendation of Quartz lubricants, and shared usage of charging stations operated by TotalEnergies, among others.
- 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: Motul launched two engine oils, namely CLASSIC EIGHTIES 10W-40 and CLASSIC NINETIES 10W-30, for classic cars manufactured between the 1970s and 2000s.
Bulgaria Passenger Vehicles 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 Product Type
4.1.1. Engine Oils
4.1.2. Greases
4.1.3. Hydraulic Fluids
4.1.4. Transmission & Gear Oils
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. Eni SpA
5.3.5. ExxonMobil Corporation
5.3.6. INSA
5.3.7. Motul
5.3.8. Prista Oil
5.3.9. Royal Dutch Shell Plc
5.3.10. TotalEnergies
6. Appendix
6.1. Appendix-1 References
6.2. Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
List of Tables & Figures
Figure 1:
PASSENGER VEHICLES POPULATION, NUMBER OF UNITS, BULGARIA, 2015 - 2026
Figure 2:
BULGARIA PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, BY PRODUCT TYPE, 2015-2026
Figure 3:
BULGARIA PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 4:
BULGARIA PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, ENGINE OILS, 2015-2026
Figure 5:
BULGARIA PASSENGER VEHICLES LUBRICANTS MARKET, ENGINE OILS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020
Figure 6:
BULGARIA PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, GREASES, 2015-2026
Figure 7:
BULGARIA PASSENGER VEHICLES LUBRICANTS MARKET, GREASES, VOLUME SHARE (%), BY VEHICLE TYPE, 2020
Figure 8:
BULGARIA PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, HYDRAULIC FLUIDS, 2015-2026
Figure 9:
BULGARIA PASSENGER VEHICLES LUBRICANTS MARKET, HYDRAULIC FLUIDS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020
Figure 10:
BULGARIA PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, TRANSMISSION & GEAR OILS, 2015-2026
Figure 11:
BULGARIA PASSENGER VEHICLES LUBRICANTS MARKET, TRANSMISSION & GEAR OILS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020
Figure 12:
BULGARIA PASSENGER VEHICLES LUBRICANTS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
Figure 13:
BULGARIA PASSENGER VEHICLES LUBRICANTS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
Figure 14:
BULGARIA PASSENGER VEHICLES LUBRICANTS MARKET SHARE(%), BY MAJOR PLAYERS, 2019
Market Definition
- Vehicle Types - Passenger Vehicles are considered under the passenger vehicle lubricants market.
- Product Types - For the purpose of this study, lubricant products such as engine oils, transmission & gear oils, hydraulic fluids and greases are taken into consideration.
- Service Refill - Service/maintenance refill is considered while accounting the lubricant consumption for passenger vehicles, under the study.
- Factory Fill - First lubricant fill-ups for newly produced passenger vehicles are considered under the study.
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
