Colombia Passenger Vehicles Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2015 - 2026
The Colombia Passenger Vehicles Lubricants Market size is estimated at 27.08 Million Liters in 2024, and is expected to reach 29.90 Million Liters by 2026, growing at a CAGR of 5.08% during the forecast period (2024-2026).
Key Highlights
- Largest Segment by Product Type - Engine Oils : Engine oil is the most popular product in Colombian SUVs and Sedans 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 Passenger Vehicles Lubricants Market Trends
Largest Segment By Product Type : Engine Oils
- In Colombia, passenger vehicles (PVs) are the second-largest consumer of automotive lubricants. During 2015-2019, the PV lubricant consumption increased at a CAGR of 1.57%, primarily due to a surge in the car population in the country.
- In 2020, PVs accounted for about 23.45% of the total automotive lubricant consumption in the country. Engine oil accounted for the largest share in PV lubricant consumption, at around 80.2%, during the year. During 2020, PV lubricant consumption declined by 11.68% due to the lower usage of the vehicle fleet post the COVID-19 outbreak.
- During 2021-2026, the transmission oils segment is likely to be the fastest-growing lubricant type, at a CAGR of 6.1%. This growth may be driven by rising sales of passenger cars and a recovery in average distance traveled in the country.
Colombia Passenger Vehicles Lubricants Industry Overview
The Colombia Passenger Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 79.90%. 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 Product Type
- 4.1.1 Engine Oils
- 4.1.2 Greases
- 4.1.3 Hydraulic Fluids
- 4.1.4 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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