Colombia Automotive Lubricants Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2026

The Colombia Automotive Lubricants Market is segmented by Vehicle Type ( Commercial Vehicles, Motorcycles, Passenger Vehicles ) and by Product Type ( Engine Oils, Greases, Hydraulic Fluids, Transmission & Gear 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: 2020
https://s3.mordorlabs.com/passenger_vehicles/1629285650768_test~passenger_vehicles_passenger_vehicles.svg Largest Share by Vehicle Type: Commercial Vehicles
https://s3.mordorlabs.com/passenger_vehicles/1629285650768_test~passenger_vehicles_passenger_vehicles.svg Fastest Growing by Vehicle Type: Motorcycles
https://s3.mordorlabs.com/cagr/1629296433433_test~cagr_cagr.svg CAGR: 4.57 %

Key Players

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Market Overview

The Colombia Automotive Lubricants Market stood at 121.12 million liters in 2021 and is projected to register a CAGR of 4.57% to reach 151.47 million liters in 2026.

  • Largest Segment by Vehicle Type - Commercial Vehicles : Columbia's commercial vehicle segment has the highest significant lubricant consumption due to its high average lubricant volumes and the presence of older trucks.
  • Fastest Segment by Vehicle Type - Motorcycles : Increasing production and sales, as well as a revival in travel rates in Colombia, are expected to drive motorcycle lubricant sales at a healthy rate in the future.
  • Largest Segment by Product Type - Engine Oils : Engine oil is the most popular product type used in Colombian vehicles as it is consumed in large quantities and replaced more frequently than other product categories.
  • Fastest Segment by Product Type - Transmission & Gear Oils : Transmission oil consumption is expected to expand faster than other product types in Colombia due to the growing penetration of automatic cars and electric vehicles.

Scope of the Report

By Vehicle Type
Commercial Vehicles
Motorcycles
Passenger Vehicles
By Product Type
Engine Oils
Greases
Hydraulic Fluids
Transmission & Gear Oils

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

Key Market Trends

Largest Segment By Vehicle Type : Commercial Vehicles

  • In Colombia, motorcycles accounted for the largest share of 60.9% in the total number of on-road vehicles in 2020, followed by passenger vehicles (PV) and commercial vehicles (CV), with a share of 24.2% and 14.8%, respectively.
  • The CV segment accounted for the highest share of around 55.7% in the total automotive lubricant consumption in 2020, followed by PV (23.45%) and MC (20.83%), respectively. In 2020, the COVID-19 outbreak led to a notable dip in lubricants consumption, where PV lubricant consumption recorded the highest dip of 11.68%, followed by CV (6.92%) and MC (5.97%).
  • The commercial vehicle segment is projected to be the fastest-growing lubricant consumer, exhibiting a CAGR of 3.25% during 2021-2026. The growth is expected to be driven by the growing demand for medium and heavy-duty trucks in the country.

Competitive Landscape

The Colombia Automotive Lubricants Market is fairly consolidated, with the top five companies occupying 80.73%. The major players in this market are Biomax, Chevron Corporation, Petromil SA, Royal Dutch Shell PLC and Terpel (sorted alphabetically).

Major Players

*Disclaimer: Major Players are sorted alphabetically

Recent Developments

  • October 2021: Valvoline and Cummins extended their long-standing marketing and technology collaboration agreement for another five years. Cummins will endorse and promote Valvoline's Premium Blue engine oil for its heavy-duty diesel engines and generators and will distribute Valvoline products through its global distribution networks.
  • August 2021: Motul introduces a new and improved version of its flagship product, with a revolutionary formula that once again pushes the boundaries of performance, which would be showcased at the 24 Hours of Le Mans, the world's most famous racing event.
  • August 2021: Megacomercial has been a Motul Importers Network Member in the auto, industry, marine, and heavy categories since 2019. It would now do so for Antioquia, Chocó, and the Atlantic Coast in the motorcycle segment.

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 Vehicle Type

      1. 4.1.1 Commercial Vehicles

      2. 4.1.2 Motorcycles

      3. 4.1.3 Passenger Vehicles

    2. 4.2 By Product Type

      1. 4.2.1 Engine Oils

      2. 4.2.2 Greases

      3. 4.2.3 Hydraulic Fluids

      4. 4.2.4 Transmission & Gear 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 Biomax

      2. 5.3.2 BP Plc (Castrol)

      3. 5.3.3 Chevron Corporation

      4. 5.3.4 Gulf Oil International

      5. 5.3.5 Motul

      6. 5.3.6 Petrobras

      7. 5.3.7 Petromil SA

      8. 5.3.8 Primax

      9. 5.3.9 Royal Dutch Shell PLC

      10. 5.3.10 Terpel

      11. 5.3.11 TotalEnergies

      12. 5.3.12 Valvoline Inc.

  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:  

    VEHICLE POPULATION, NUMBER OF UNITS, COLOMBIA, 2015 - 2026

    Figure 2:  

    COMMERCIAL VEHICLES POPULATION, NUMBER OF UNITS, COLOMBIA, 2015 - 2026

    Figure 3:  

    MOTORCYCLES POPULATION, NUMBER OF UNITS, COLOMBIA, 2015 - 2026

    Figure 4:  

    PASSENGER VEHICLES POPULATION, NUMBER OF UNITS, COLOMBIA, 2015 - 2026

    Figure 5:  

    COLOMBIA AUTOMOTIVE LUBRICANTS MARKET, VOLUME IN LITERS, BY VEHICLE TYPE, 2015-2026

    Figure 6:  

    COLOMBIA AUTOMOTIVE LUBRICANTS MARKET, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

    Figure 7:  

    COLOMBIA AUTOMOTIVE LUBRICANTS MARKET, VOLUME IN LITERS, COMMERCIAL VEHICLES, 2015-2026

    Figure 8:  

    COLOMBIA AUTOMOTIVE LUBRICANTS MARKET, COMMERCIAL VEHICLES, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 9:  

    COLOMBIA AUTOMOTIVE LUBRICANTS MARKET, VOLUME IN LITERS, MOTORCYCLES, 2015-2026

    Figure 10:  

    COLOMBIA AUTOMOTIVE LUBRICANTS MARKET, MOTORCYCLES, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 11:  

    COLOMBIA AUTOMOTIVE LUBRICANTS MARKET, VOLUME IN LITERS, PASSENGER VEHICLES, 2015-2026

    Figure 12:  

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

    Figure 13:  

    COLOMBIA AUTOMOTIVE LUBRICANTS MARKET, VOLUME IN LITERS, BY PRODUCT TYPE, 2015-2026

    Figure 14:  

    COLOMBIA AUTOMOTIVE LUBRICANTS MARKET, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 15:  

    COLOMBIA AUTOMOTIVE LUBRICANTS MARKET, VOLUME IN LITERS, ENGINE OILS, 2015-2026

    Figure 16:  

    COLOMBIA AUTOMOTIVE LUBRICANTS MARKET, ENGINE OILS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

    Figure 17:  

    COLOMBIA AUTOMOTIVE LUBRICANTS MARKET, VOLUME IN LITERS, GREASES, 2015-2026

    Figure 18:  

    COLOMBIA AUTOMOTIVE LUBRICANTS MARKET, GREASES, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

    Figure 19:  

    COLOMBIA AUTOMOTIVE LUBRICANTS MARKET, VOLUME IN LITERS, HYDRAULIC FLUIDS, 2015-2026

    Figure 20:  

    COLOMBIA AUTOMOTIVE LUBRICANTS MARKET, HYDRAULIC FLUIDS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

    Figure 21:  

    COLOMBIA AUTOMOTIVE LUBRICANTS MARKET, VOLUME IN LITERS, TRANSMISSION & GEAR OILS, 2015-2026

    Figure 22:  

    COLOMBIA AUTOMOTIVE LUBRICANTS MARKET, TRANSMISSION & GEAR OILS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

    Figure 23:  

    COLOMBIA AUTOMOTIVE LUBRICANTS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021

    Figure 24:  

    COLOMBIA AUTOMOTIVE LUBRICANTS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021

    Figure 25:  

    COLOMBIA AUTOMOTIVE LUBRICANTS MARKET SHARE(%), BY MAJOR PLAYERS, 2020

Market Definition

  • Vehicle Types - Passenger Vehicles, Commercial Vehicles and Motorcycles are considered under the automotive 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 each of the vehicle, under the study.
  • Factory Fill - First lubricant fill-ups for newly produced vehicles are considered under the study.

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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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04. Transparency
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03. Exhaustive Data
Tracking a million data points on the lubricants industry. Our constant market tracking covers over 1 million+ data points spanning 45 countries and over 150 companies just for the lubricants industry.

Frequently Asked Questions

The Colombia Automotive Lubricants Market market is studied from 2015 - 2026.

The Colombia Automotive Lubricants Market stood at 121.12 million liters in 2021 and is projected to register a CAGR of 4.57% to reach 151.47 million liters in 2026.

Columbia's commercial vehicle segment has the highest significant lubricant consumption due to its high average lubricant volumes and the presence of older trucks.

Increasing production and sales, as well as a revival in travel rates in Colombia, are expected to drive motorcycle lubricant sales at a healthy rate in the future.

Engine oil is the most popular product type used in Colombian vehicles as it is consumed in large quantities and replaced more frequently than other product categories.

Transmission oil consumption is expected to expand faster than other product types in Colombia due to the growing penetration of automatic cars and electric vehicles.

Biomax,Chevron Corporation,Petromil SA,Royal Dutch Shell PLC and Terpel. are the major companies operating in Colombia Automotive Lubricants Market.