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

The Colombia Passenger Vehicles Lubricants Market is segmented 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/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 & Gear Oils
https://s3.mordorlabs.com/cagr/1629296433433_test~cagr_cagr.svg CAGR: 4.73 %

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Market Overview

The Colombia Passenger Vehicles Lubricants Market stood at 23.73 million liters in 2021 and is projected to register a CAGR of 4.73% to reach 29.90 million liters in 2026.

  • Largest Segment by Product Type - Engine Oils : Engine oil is the most popular product in Colombian SUVs and Sedans 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 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 Product Type : Engine Oils

  • In Colombia, passenger vehicles (PVs) are the second-largest consumer of automotive lubricants. During 2015-2019, the PV lubricant consumption increased at a CAGR of 1.57%, primarily due to a surge in the car population in the country.
  • In 2020, PVs accounted for about 23.45% of the total automotive lubricant consumption in the country. Engine oil accounted for the largest share in PV lubricant consumption, at around 80.2%, during the year. During 2020, PV lubricant consumption declined by 11.68% due to the lower usage of the vehicle fleet post the COVID-19 outbreak.
  • During 2021-2026, the transmission oils segment is likely to be the fastest-growing lubricant type, at a CAGR of 6.1%. This growth may be driven by rising sales of passenger cars and a recovery in average distance traveled in the country.

Competitive Landscape

The Colombia Passenger Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 79.90%. 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

  • 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.
  • 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.
  • April 2021: Kia Corporation and TotalEnergies renewed their partnership, with TotalEnergies continuing to be Kia Corporation's approved lubricant sales partner in dealer networks until March 2026.

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 & 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:  

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

    Figure 2:  

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

    Figure 3:  

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

    Figure 4:  

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

    Figure 5:  

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

    Figure 6:  

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

    Figure 7:  

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

    Figure 8:  

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

    Figure 9:  

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

    Figure 10:  

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

    Figure 11:  

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

    Figure 12:  

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

    Figure 13:  

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

    Figure 14:  

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

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.

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

The Colombia Passenger Vehicles Lubricants Market stood at 23.73 million liters in 2021 and is projected to register a CAGR of 4.73% to reach 29.90 million liters in 2026.

Engine oil is the most popular product in Colombian SUVs and Sedans 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 Passenger Vehicles Lubricants Market.