Market Trends of Italy Passenger Vehicles Lubricants Industry
This section covers the major market trends shaping the Italy Passenger Vehicles Lubricants Market according to our research experts:
Largest Segment By Product Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Engine Oils</span>
- During 2015-2019, lubricant consumption volume in passenger vehicles in Italy experienced volatile growth rates. Although passenger vehicle population during this period witnessed a consistent increase, the production output was unstable, which in turn caused fluctuations in the demand for lubricants.
- In 2020, post the COVID-19 outbreak, the usage of passenger cars in the country significantly dropped, subsequently affecting the service and lubricant change requirements for a considerable period. As a result, lubricant consumption dropped by around 19.08% compared to 2019.
- Though passenger vehicle sales in the country have been showing healthy recovery from the end of 2020, production uncertainties and resurgence of COVID-19-related concerns are estimated to impact lubricant demand in 2021. This demand is projected to bounce back from 2022.
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