China Passenger Vehicles Lubricants Market Size
|Study Period:||2015 - 2026|
|Largest Share by Product Type:||Engine Oils|
|Fastest Growing by Product Type:||Transmission & Gear Oils|
*Disclaimer: Major Players sorted in no particular order
China Passenger Vehicles Lubricants Market Analysis
The China Passenger Vehicles Lubricants Market stood at 2.58 billion liters in 2021 and is projected to register a CAGR of 5.80% 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 & Gear 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.
China Passenger Vehicles Lubricants Industry Segmentation
|By Product Type|
|Transmission & Gear Oils|
China Passenger Vehicles Lubricants Market Trends
This section covers the major market trends shaping the China Passenger Vehicles Lubricants Market according to our research experts:
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.
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China Passenger Vehicles Lubricants Industry Overview
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).
China Passenger Vehicles Lubricants Market Leaders
BP PLC (Castrol)
China National Petroleum Corporation
China Petroleum & Chemical Corporation
Royal Dutch Shell Plc
*Disclaimer: Major Players sorted in no particular order
China Passenger Vehicles Lubricants Market News
- July 2021: TotalEnergies unveiled a new product (hybrid transmission fluid), which is specially made for Great Wall Motors to use in hybrid technology vehicles for high efficiency and high performance.
- May 2021: Jiangsu Lopal Tech Co. Ltd launched two new National VI lubricants, especially for Volkswagen's high-end gasoline engines and long-range diesel engines.
- 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.
China Passenger Vehicles Lubricants Market Report - 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
3.2. Regulatory Framework
3.3. Value Chain & Distribution Channel Analysis
4. Market Segmentation
4.1. By Product Type
4.1.1. Engine Oils
4.1.3. 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. Beijing Zhongrun Huayou Petrochemical Co. Ltd
5.3.2. BP PLC (Castrol)
5.3.3. China National Petroleum Corporation
5.3.4. China Petroleum & Chemical Corporation
5.3.5. ExxonMobil Corporation
5.3.6. Jiangsu Lopal Tech Co. Ltd
5.3.7. Qingdao COPTON Technology Co. Ltd
5.3.8. Royal Dutch Shell Plc
5.3.9. Tongyi Petrochemical Co. Ltd
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, 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 & GEAR OILS, 2015-2026
- Figure 11:
- CHINA PASSENGER VEHICLES LUBRICANTS MARKET, TRANSMISSION & GEAR 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
- 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.
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