Colombia Automotive Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2015 - 2026
The Colombia Automotive Lubricants Market size is estimated at 137.65 Million Liters in 2024, and is expected to reach 151.47 Million Liters by 2026, growing at a CAGR of 4.90% during the forecast period (2024-2026).
Key Highlights
- Largest Segment by Vehicle Type - Commercial Vehicles : Columbia's commercial vehicle segment has the highest significant lubricant consumption due to its high average lubricant volumes and the presence of older trucks.
- Fastest Segment by Vehicle Type - Motorcycles : Increasing production and sales, as well as a revival in travel rates in Colombia, are expected to drive motorcycle lubricant sales at a healthy rate in the future.
- Largest Segment by Product Type - Engine Oils : Engine oil is the most popular product type used in Colombian vehicles as it is consumed in large quantities and replaced more frequently than other product categories.
- Fastest Segment by Product Type - Transmission & Gear Oils : Transmission oil consumption is expected to expand faster than other product types in Colombia due to the growing penetration of automatic cars and electric vehicles.
Colombia Automotive Lubricants Market Trends
Largest Segment By Vehicle Type : Commercial Vehicles
- In Colombia, motorcycles accounted for the largest share of 60.9% in the total number of on-road vehicles in 2020, followed by passenger vehicles (PV) and commercial vehicles (CV), with a share of 24.2% and 14.8%, respectively.
- The CV segment accounted for the highest share of around 55.7% in the total automotive lubricant consumption in 2020, followed by PV (23.45%) and MC (20.83%), respectively. In 2020, the COVID-19 outbreak led to a notable dip in lubricants consumption, where PV lubricant consumption recorded the highest dip of 11.68%, followed by CV (6.92%) and MC (5.97%).
- The commercial vehicle segment is projected to be the fastest-growing lubricant consumer, exhibiting a CAGR of 3.25% during 2021-2026. The growth is expected to be driven by the growing demand for medium and heavy-duty trucks in the country.
Colombia Automotive Lubricants Industry Overview
The Colombia Automotive Lubricants Market is fairly consolidated, with the top five companies occupying 80.73%. The major players in this market are Biomax, Chevron Corporation, Petromil SA, Royal Dutch Shell PLC and Terpel (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 Biomax
- 5.3.2 BP Plc (Castrol)
- 5.3.3 Chevron Corporation
- 5.3.4 Gulf Oil International
- 5.3.5 Motul
- 5.3.6 Petrobras
- 5.3.7 Petromil SA
- 5.3.8 Primax
- 5.3.9 Royal Dutch Shell PLC
- 5.3.10 Terpel
- 5.3.11 TotalEnergies
- 5.3.12 Valvoline Inc.
- 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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