Bulgaria Passenger Vehicles Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2015 - 2026

Bulgaria Passenger Vehicles Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2015 - 2026

The Bulgaria Passenger Vehicles Lubricants Market size is estimated at 12.54 Million Liters in 2024, and is expected to reach 13.15 Million Liters by 2026, growing at a CAGR of 2.40% during the forecast period (2024-2026).

Key Highlights

• 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 the imports, sales, and usage of used cars since 2021 is likely to drive the demand for hydraulic fluids during the forecast period.

Bulgaria Passenger Vehicles Lubricants Market Trends

Largest Segment By Product Type : Engine Oils

• The share of the passenger vehicles (PV) segment in the automotive lubricants market decreased from 68.91% in 2015 to 66.41% in 2019. Consumption of lubricants in the PV segment however recorded a CAGR of 1.76% during 2015-2019. This trend was directly proportional to the number of vehicles in use.
• In 2020, passenger car population increased by 0.82%, which was quite low compared to the growth rate in the past few years. The consumption of lubricants in the PV segment experienced a drop of 15.25% in 2020.
• The increasing consumer preference to buy used cars is estimated to grow the population of cars in the future. Currently, Bulgaria does not have strict emission standards or a scrappage policy. Hence, few European countries tend to export their old vehicles to Bulgaria. As a result, the consumption in the PV segment is expected to record a CAGR of 1.79% during 2021-2026.

Bulgaria Passenger Vehicles Lubricants Industry Overview

The Bulgaria Passenger Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 98.10%. 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
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