Bulgaria Automotive Lubricants Market - Size, Share, Covid-19 Impact & Forecasts Up To 2026

Bulgaria Automotive Lubricants Market - Size, Share, Covid-19 Impact & Forecasts Up To 2026

The Bulgaria Automotive Lubricants Market is at 18.03 million liters in 2021 and is projected to register a CAGR of 2.19% to reach 20.09 million liters in 2026. The COVID-19 outbreak and the social restrictions implemented in response to the pandemic have resulted in about 33% drop in the sales of new automobiles in Bulgaria during 2019-2020. The COVID-19 pandemic resulted in a significant sales drop of passenger cars and trucks in the country owing to the reduced travel needs of people.

Key Highlights

• Largest Segment by Vehicle Type - Passenger Vehicles : The vast population of new and used passenger vehicles in Bulgaria resulted in the highest lubricant consumption levels in the country's passenger vehicles sector.
• Fastest Segment by Vehicle Type - Commercial Vehicles : In Bulgaria, the expected recovery in business activities and used commercial vehicle sales is likely to drive the demand for lubricants during the forecast period.
• Largest Segment by Product Type - Engine Oils : Engine oils form the leading product type due to their high volume requirements and short drain intervals, as they are used in high-temperature and high-pressure applications.
• Fastest Segment by Product Type - Hydraulic Fluids : In Bulgaria, the expected recovery in automotive sales, usage, and production since 2021 is likely to drive the demand for hydraulic oils during the forecast period.

Key Market TrendsLargest Segment By Vehicle Type : Passenger Vehicles

• Among all vehicle types, passenger vehicles accounted for 81.51% of the total on-road vehicles in 2020, generating the highest demand for lubricants in Bulgaria. Passenger vehicles accounted for 66.41% of the total lubricant volume consumption in 2020.
• However, this reflected a dip in its lubricant share of 68.91%, recorded in 2019. Social restrictions imposed to curb the COVID-19 outbreak affected lubricant consumption in passenger vehicles. With an expected recovery in sales, lubricant consumption in passenger vehicles is also likely to increase over the forecast period.
• The commercial vehicles segment is likely to record the highest CAGR of 3% over the forecast period. Fast recovery is expected in the sales of commercial vehicles due to the increase in the demand for freight transportation with trade activities, and thus adding to the demand for lubricants.

Competitive Landscape

The Bulgaria Automotive Lubricants Market is fairly consolidated, with the top five companies occupying 94.19%. The major players in this market are BP PLC (Castrol), ExxonMobil Corporation, Prista Oil, Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
AVIA International
BP PLC (Castrol)
CHEVRON CORPORATION
Eni SpA
ExxonMobil Corporation
Gazprom
INSA
LIQUI MOLY
LUKOIL
Motul
Prista Oil
Royal Dutch Shell Plc
TotalEnergies

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