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

The China Passenger Vehicles Lubricants Market is segmented by Product Type ( Engine Oils, Greases, Hydraulic Fluids, Transmission Oils )

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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/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Fastest Growing by Product Type: Transmission Oils
https://s3.mordorlabs.com/cagr/1629296433433_test~cagr_cagr.svg CAGR: 6.62 %

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Market Overview

The China Passenger Vehicles Lubricants Market stood at 2.33 billion liters in 2020 and is projected to register a CAGR of 6.62% to reach 3.43 billion liters in 2026.

  • 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 - Transmission Oils : Increasing electric vehicle (EV) sales and the use of automatic transmissions in the country are expected to enhance transmission oils' demand throughout the forecast period.

Scope of the Report

By Product Type
Engine Oils
Greases
Hydraulic Fluids
Transmission Oils

Report scope can be customized per your requirements. Click here.

Key Market Trends

Largest Segment By Product Type : Engine Oils

  • In China, among all product types, engine oils accounted for a share of 80.17% of the total passenger vehicle (PV) lubricant demand during 2020. During 2015-2019, the overall engine oil consumption increased at a CAGR of 7.95% due to a rise in travel rates of the domestic passenger vehicle fleet.
  • During 2020, PV engine oil consumption recorded a growth rate of 1.42%, while grease recorded negative growth of 6.26%. This negative trend in grease demand was majorly due to COVID-19 restrictions, which considerably reduced vehicle use and greater service requirements for greases.
  • Over the forecast period, the transmission oil segment is likely to be the fastest-growing segment with a CAGR of 7.5%. The growing demand for vehicles with automatic transmission systems is projected to drive the demand for transmission oils in the country over the coming years.

Competitive Landscape

The China Passenger Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 72.34%. 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

    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 Beijing Zhongrun Huayou Petrochemical Co. Ltd

        2. 5.3.2 BP PLC (Castrol)

        3. 5.3.3 China National Petroleum Corporation

        4. 5.3.4 China Petroleum & Chemical Corporation

        5. 5.3.5 ExxonMobil Corporation

        6. 5.3.6 Jiangsu Lopal Tech Co. Ltd

        7. 5.3.7 Qingdao COPTON Technology Co. Ltd

        8. 5.3.8 Royal Dutch Shell Plc

        9. 5.3.9 Tongyi Petrochemical Co. Ltd

        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, CHINA, 2015 - 2026

      Figure 2:  

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

      Figure 3:  

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

      Figure 4:  

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

      Figure 5:  

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

      Figure 6:  

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

      Figure 7:  

      CHINA PASSENGER VEHICLES LUBRICANTS MARKET, GREASES, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

      Figure 8:  

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

      Figure 9:  

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

      Figure 10:  

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

      Figure 11:  

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

      Figure 12:  

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

      Figure 13:  

      CHINA PASSENGER VEHICLES LUBRICANTS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021

      Figure 14:  

      CHINA 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 China Passenger Vehicles Lubricants Market market is studied from 2015 - 2026.

    The China Passenger Vehicles Lubricants Market stood at 2.33 billion liters in 2020 and is projected to register a CAGR of 6.62% to reach 3.43 billion liters in 2026.

    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.

    Increasing electric vehicle (EV) sales and the use of automatic transmissions in the country are expected to enhance transmission oils' demand throughout the forecast period.

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