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

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

The Bulgaria Passenger Vehicles Lubricants Market is at 12.03 million liters in 2021 and is projected to register a CAGR of 1.79% to reach 13.15 million liters in 2026. Uncertainity around the fluctuations in COVID outbreak, closure of borders and changing consumer preferences have been severly impact the imports and sales of motorcycles in Bulgaria.

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.

Key Market TrendsLargest 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.

Competitive Landscape

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
• 3 months of analyst support

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

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