Argentina Automotive Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2015 - 2026
The Argentina Automotive Lubricants Market size is estimated at 184.35 Million Liters in 2024, and is expected to reach 199.20 Million Liters by 2026, growing at a CAGR of 3.95% during the forecast period (2024-2026).
Key Highlights
- Largest Segment by Vehicle Type - Commercial Vehicles : The country's commercial vehicle industry has the most significant lubricant consumption due to Argentina's high average lubricant volumes and the presence of older trucks.
- Fastest Segment by Vehicle Type - Commercial Vehicles : Argentina's CV lubricant demand is expected to rise faster than other segments due to the tax exemption announcement, which is likely to boost the CV population.
- Largest Segment by Product Type - Engine Oils : Engine oil is consumed in large quantities in cars in Argentina, and it is changed more frequently than other product types, making it the country's most popular product.
- Fastest Segment by Product Type - Greases : The predicted rebound in car and motorcycle sales, production, and imports in Argentina starting in 2021 is expected to boost grease consumption in the coming years.
Argentina Automotive Lubricants Market Trends
Largest Segment By Vehicle Type : Commercial Vehicles
- In Argentina, passenger vehicles (PVs) accounted for the largest share of 54.9% in the total number of on-road vehicles in 2020, followed by motorcycles (MCs) and commercial vehicles (CVs), with a share of 27.5% and 17.5%, respectively.
- The CV segment accounted for the largest share of around 54% of the total automotive lubricant consumption in 2020, followed by the PV (36.5%) and MC (8.91%) segments, respectively. In 2020, the COVID-19 outbreak led to a notable dip in lubricants consumption, where PV lubricant consumption recorded the highest dip of 15.08%, followed by MC (11.51%) and CV (5.3%).
- The commercial vehicle segment is projected to be the fastest-growing lubricant consumer segment, exhibiting a CAGR of 4.66% over 2021-2026. The growth is expected to be driven by the growing demand for medium and heavy-duty trucks in the country.
Argentina Automotive Lubricants Industry Overview
The Argentina Automotive Lubricants Market is fairly consolidated, with the top five companies occupying 70.65%. The major players in this market are BP PLC (Castrol), ExxonMobil Corporation, Royal Dutch Shell PLC, TotalEnergies and YPF (sorted alphabetically).
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
- 1 Executive Summary & Key Findings
- 2 Introduction
- 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
- 3.2 Regulatory Framework
- 3.3 Value Chain & Distribution Channel Analysis
- 4 Market Segmentation
- 4.1 By Vehicle Type
- 4.1.1 Commercial Vehicles
- 4.1.2 Motorcycles
- 4.1.3 Passenger Vehicles
- 4.2 By Product Type
- 4.2.1 Engine Oils
- 4.2.2 Greases
- 4.2.3 Hydraulic Fluids
- 4.2.4 Transmission & Gear Oils
- 5 Competitive Landscape
- 5.1 Key Strategic Moves
- 5.2 Market Share Analysis
- 5.3 Company Profiles
- 5.3.1 BP PLC (Castrol)
- 5.3.2 Chevron Corporation
- 5.3.3 ExxonMobil Corporation
- 5.3.4 Gulf Oil International
- 5.3.5 PETRONAS Lubricants International
- 5.3.6 Puma Energy
- 5.3.7 Royal Dutch Shell PLC
- 5.3.8 TotalEnergies
- 5.3.9 Valvoline Inc.
- 5.3.10 YPF
- 6 Appendix
- 6.1 Appendix-1 References
- 6.2 Appendix-2 List of Tables & Figures
- 7 Key Strategic Questions for Lubricants CEOs
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