South America Automotive Engine Oils Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2027

The South America Automotive Engine Oils Market is segmented by Vehicle Type ( Commercial Vehicles, Motorcycles, Passenger Vehicles ) , by Product Grade and by Country ( Argentina, Brazil, Colombia )

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Market Snapshot

https://s3.mordorlabs.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period: 2015 - 2027
https://s3.mordorlabs.com/base%20year/1629296433432_test~base_year_base_year.svg Base Year: 2021
https://s3.mordorlabs.com/passenger_vehicles/1629285650768_test~passenger_vehicles_passenger_vehicles.svg Largest Share by Vehicle Type: Commercial Vehicles
https://s3.mordorlabs.com/globe/1629285706162_test~globe_globe.svg Largest Share by Country: Brazil
https://s3.mordorlabs.com/cagr/1629296433433_test~cagr_cagr.svg CAGR: NaN %

Key Players

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Market Overview

The South America Automotive Engine Oils Market stood at 1.18 billion liters in 2022 and is projected to register a CAGR of NaN% to reach NaN liters in 2027.

  • Largest Segment by Vehicle Type - Commercial Vehicles : The commercial vehicle segment in the region consumes the majority of engine oil due to the high average engine oil capacity of heavy-duty trucks, pick-up trucks, and buses.
  • Fastest Segment by Vehicle Type - Commercial Vehicles : Post COVID-19 pandemic, there has been an increase in demand for used and high-end motorcycles in Brazil and Colombia, which may increase motorcycle engine oil consumption.
  • Largest Country Market - Brazil : Brazil has the highest proportion of passenger vehicles, commercial vehicles, and motorcycles among all South American countries, making it the leading engine oil consumer.
  • Fastest Growing Country Market - Colombia : The expected growth in the active vehicle fleet in Colombia, along with the widespread use of mineral oils, is likely to propel the demand for engine oils at a healthy rate.

Scope of the Report

By Vehicle Type
Commercial Vehicles
Motorcycles
Passenger Vehicles
By Country
Argentina
Brazil
Colombia
Rest of South America

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

Key Market Trends

Largest Segment By Vehicle Type : Commercial Vehicles

  • Engine oils are the most used automotive lubricants among all the product types. During 2015-2019, automotive engine oil consumption in South America increased at a CAGR of 1.3%. In 2020, engine oils accounted for around 77.6% of the region's total automotive lubricant consumption volume.
  • In 2020, the COVID-19 outbreak resulted in a huge decline in the existing South American vehicle fleet usage due to a fall in business activities. As a result, engine oil consumption in the region decreased suddenly during 2019-2020.
  • Along with the expected recovery in sales and production of automobiles, an increase in the penetration of electric vehicles is expected to impact engine oil consumption slightly. Therefore, engine oil consumption is expected to increase at a CAGR of 2.98% during 2021-2026.

Largest Country : Brazil

  • In the South American region, automotive lubricant consumption is the highest in Brazil, followed by Argentina and Colombia. In 2020, Brazil accounted for 60% of the total consumption of CV lubricants in the region, whereas Colombia and Argentina accounted for 11.4% and 6.97%, respectively.
  • The restrictions imposed on business and transportation activities after the COVID-19 outbreak negatively affected the CV lubricant consumption across the region in 2020. Argentina was the most affected as it witnessed a 9.67% drop in consumption during 2019-2020, followed by Colombia with a 7.8% drop.
  • During 2021-2026, Colombia is likely to be the fastest-growing automotive lubricant market. Colombia is likely to register a CAGR of 4.82%, followed by Argentina and Brazil with an expected CAGR of 3.82% and 3.53%, respectively.

Competitive Landscape

The South America Automotive Engine Oils Market is moderately consolidated, with the top five companies occupying 57.03%. The major players in this market are ExxonMobil Corporation, Iconic Lubrificantes, Petrobras, Royal Dutch Shell Plc and Terpel (sorted alphabetically).

Major Players

*Disclaimer: Major Players are sorted alphabetically

Recent Developments

  • January 2022: Effective April 1, ExxonMobil Corporation was organized along three business lines – ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon Solutions.
  • October 2021: Ipiranga stations in Brazil began offering Texaco lubricants, a brand long recommended by major automakers in Brazil and worldwide, over the whole network.
  • July 2021: Gulf Oil reached the 80 service station mark in Argentina through which it sells its lubricant products to its customers.

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 Grade

    3. 4.3 By Country

      1. 4.3.1 Argentina

      2. 4.3.2 Brazil

      3. 4.3.3 Colombia

      4. 4.3.4 Rest of South America

  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 BP PLC (Castrol)

      2. 5.3.2 Chevron Corporation

      3. 5.3.3 ExxonMobil Corporation

      4. 5.3.4 Gulf Oil International

      5. 5.3.5 Iconic Lubrificantes

      6. 5.3.6 Petrobras

      7. 5.3.7 Royal Dutch Shell Plc

      8. 5.3.8 Terpel

      9. 5.3.9 TotalEnergies

      10. 5.3.10 YPF

  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, SOUTH AMERICA, 2015 - 2026

    Figure 2:  

    COMMERCIAL VEHICLES POPULATION, NUMBER OF UNITS, SOUTH AMERICA, 2015 - 2026

    Figure 3:  

    MOTORCYCLES POPULATION, NUMBER OF UNITS, SOUTH AMERICA, 2015 - 2026

    Figure 4:  

    PASSENGER VEHICLES POPULATION, NUMBER OF UNITS, SOUTH AMERICA, 2015 - 2026

    Figure 5:  

    SOUTH AMERICA AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, BY VEHICLE TYPE, 2015-2026

    Figure 6:  

    SOUTH AMERICA AUTOMOTIVE ENGINE OILS MARKET, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

    Figure 7:  

    SOUTH AMERICA AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, COMMERCIAL VEHICLES, 2015-2026

    Figure 8:  

    SOUTH AMERICA AUTOMOTIVE ENGINE OILS MARKET, COMMERCIAL VEHICLES, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 9:  

    SOUTH AMERICA AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, MOTORCYCLES, 2015-2026

    Figure 10:  

    SOUTH AMERICA AUTOMOTIVE ENGINE OILS MARKET, MOTORCYCLES, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 11:  

    SOUTH AMERICA AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, PASSENGER VEHICLES, 2015-2026

    Figure 12:  

    SOUTH AMERICA AUTOMOTIVE ENGINE OILS MARKET, PASSENGER VEHICLES, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 13:  

    SOUTH AMERICA AUTOMOTIVE ENGINE OILS MARKET, VOLUME SHARE (%), BY PRODUCT GRADE, 2020

    Figure 14:  

    SOUTH AMERICA AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, BY COUNTRY, 2015-2026

    Figure 15:  

    SOUTH AMERICA AUTOMOTIVE ENGINE OILS MARKET, VOLUME SHARE (%), BY COUNTRY, 2020

    Figure 16:  

    SOUTH AMERICA AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, ARGENTINA, 2015-2026

    Figure 17:  

    SOUTH AMERICA AUTOMOTIVE ENGINE OILS MARKET, ARGENTINA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 18:  

    SOUTH AMERICA AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, BRAZIL, 2015-2026

    Figure 19:  

    SOUTH AMERICA AUTOMOTIVE ENGINE OILS MARKET, BRAZIL, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 20:  

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

    Figure 21:  

    SOUTH AMERICA AUTOMOTIVE ENGINE OILS MARKET, COLOMBIA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 22:  

    SOUTH AMERICA AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, REST OF SOUTH AMERICA, 2015-2026

    Figure 23:  

    SOUTH AMERICA AUTOMOTIVE ENGINE OILS MARKET, REST OF SOUTH AMERICA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 24:  

    SOUTH AMERICA AUTOMOTIVE ENGINE OILS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021

    Figure 25:  

    SOUTH AMERICA AUTOMOTIVE ENGINE OILS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021

    Figure 26:  

    SOUTH AMERICA AUTOMOTIVE ENGINE OILS 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 South America Automotive Engine Oils Market market is studied from 2015 - 2027.

The South America Automotive Engine Oils Market stood at 1.18 billion liters in 2022 and is projected to register a CAGR of NaN% to reach NaN liters in 2027.

The commercial vehicle segment in the region consumes the majority of engine oil due to the high average engine oil capacity of heavy-duty trucks, pick-up trucks, and buses.

Post COVID-19 pandemic, there has been an increase in demand for used and high-end motorcycles in Brazil and Colombia, which may increase motorcycle engine oil consumption.

Brazil has the highest proportion of passenger vehicles, commercial vehicles, and motorcycles among all South American countries, making it the leading engine oil consumer.

The expected growth in the active vehicle fleet in Colombia, along with the widespread use of mineral oils, is likely to propel the demand for engine oils at a healthy rate.

ExxonMobil Corporation,Iconic Lubrificantes,Petrobras,Royal Dutch Shell Plc and Terpel. are the major companies operating in South America Automotive Engine Oils Market.