|Study Period:||2015 - 2026|
|Largest Share by Product Type:||Engine Oils|
|Fastest Growing by Product Type:||Hydraulic Fluids|
The Spain Passenger Vehicles Lubricants Market is at 78.23 million liters in 2021 and is projected to register a CAGR of 2.18% to reach 87.12 million liters in 2026. Due to lockdowns imposed due to the COVID-19 pandemic, lubricant consumption in the passenger vehicles sector dropped drastically by over 18% in 2020. The volume share of the segment in the automotive lubricants market declined by nearly 3% in 2020, as compared to 2019.
- Largest Segment by Product Type - Engine Oils : Engine oil is the leading product type due to its high volume requirements and low drain intervals. It is used for high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Hydraulic Fluids : In Spain, the increasing trade activities and the expected recovery in passenger vehicle sales are likely to drive the demand for hydraulic fluids during the forecast period.
Scope of the Report
|By Product Type|
Key Market Trends
Largest Segment By Product Type : Engine Oils
- The share of the passenger vehicles (PVs) segment in the overall automotive lubricant consumption increased from 45.5% in 2015 to 47.4% in 2019. The PV lubricants segment exhibited a CAGR of 3.53% during 2015-2019 due to the gradual growth in the active vehicle parc and vehicle service requirements.
- Due to the lockdown imposed to curb the spread of COVID-19, the consumption of PV lubricants dropped by 18.82% in 2020. The volume share of the PV segment in the automotive lubricants market declined by nearly 3% in 2020, as compared to 2019.
- In 2021, the Spanish Prime Minister announced an aid package worth USD 4.2 billion for the hard-hit auto industry to promote the production and sales of cleaner cars. This factor, along with the expected recovery in the sales of new and used cars, is projected to drive PV lubricant consumption at a CAGR of 2.18% during 2021-2026.
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The Spain Passenger Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 81.69%. The major players in this market are BP PLC (Castrol), CEPSA, Exxon Mobil Corporation, Repsol and Royal Dutch Shell (sorted alphabetically).
- June 2021: TotalEnergies and Stellantis group renewed their partnership for cooperation across different segments. Along with the renewal of partnerhips with Peugeot, Citroën, and DS Automobiles, the new collaboration extends to Opel, and Vauxhall as well. This partnership includes the development and innovation of lubricants, first-fill in Stellantis group vehicles, recommendation of Quartz lubricants, and shared usage of charging stations operated by TotalEnergies, among others.
- June 2021: Champion Lubricants formed a partnership with FIA World Rallycross Championship, where the company is expected to provide its lubricant products until 2021.
- May 2021: Ravenol planned to supply lubricants in the DTM Trophy series. Its logo is expected to appear on the GT sports cars under a multi-year deal between Ravensberger Schmierstoffvertrieb GmbH and the DTM organization, ITR.
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
3.1.1 Passenger Vehicles
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 Oils
5. Competitive Landscape
5.1 Key Strategic Moves
5.2 Market Share Analysis
5.3 Company Profiles
5.3.1 BP PLC (Castrol)
5.3.3 CHEVRON CORPORATION
5.3.4 Eni SpA
5.3.5 Exxon Mobil Corporation
5.3.7 Galp Energia
5.3.9 Royal Dutch Shell
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
List of Tables & Figures
PASSENGER VEHICLES POPULATION, NUMBER OF UNITS, SPAIN, 2015 - 2026
SPAIN PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, BY PRODUCT TYPE, 2015-2026
SPAIN PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
SPAIN PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, ENGINE OILS, 2015-2026
SPAIN PASSENGER VEHICLES LUBRICANTS MARKET, ENGINE OILS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020
SPAIN PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, GREASES, 2015-2026
SPAIN PASSENGER VEHICLES LUBRICANTS MARKET, GREASES, VOLUME SHARE (%), BY VEHICLE TYPE, 2020
SPAIN PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, HYDRAULIC FLUIDS, 2015-2026
SPAIN PASSENGER VEHICLES LUBRICANTS MARKET, HYDRAULIC FLUIDS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020
SPAIN PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, TRANSMISSION OILS, 2015-2026
SPAIN PASSENGER VEHICLES LUBRICANTS MARKET, TRANSMISSION OILS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020
SPAIN PASSENGER VEHICLES LUBRICANTS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
SPAIN PASSENGER VEHICLES LUBRICANTS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
SPAIN PASSENGER VEHICLES LUBRICANTS MARKET SHARE(%), BY MAJOR PLAYERS, 2019
- 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.
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