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

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

The Mexico Passenger Vehicles Lubricants Market size is estimated at 261.64 Million Liters in 2024, and is expected to reach 274.24 Million Liters by 2026, growing at a CAGR of 2.38% during the forecast period (2024-2026).

Key Highlights

• Largest Segment by Product Type - Engine Oils : Engine oils form the leading product type, owing to their high volume requirements and low drain interval. They are used for high-temperature and high-pressure applications.
• Fastest Segment by Product Type - Transmission & Gear Oils : An increase in the usage, sales, and maintenance requirements of passenger vehicles in the country may drive the demand for transmission oils during the forecast period.

Mexico Passenger Vehicles Lubricants Market Trends

Largest Segment By Product Type : Engine Oils

• During 2015-2019, the passenger vehicle lubricant consumption in Mexico witnessed a robust growth. The penetration of synthetic lubricants in Mexico during this period was very low in Mexico, unlike Canada and the United States. This factor, combined with the growing vehicle parc in the country, resulted in a consistent increase in lubricant consumption for this segment during this period.
• However, during 2020, the consumption dropped significantly, owing to the COVID-19 pandemic, which has caused a considerable decline in the maintenance requirements of the existing passenger vehicle fleet of the country.
• The passenger vehicle sales in Mexico are likely to recover at a much faster growth rate than in the United States and Canada. As a result, the passenger lubricant consumption is expected to witness a CAGR of 3.78% during the forecast period.

Mexico Passenger Vehicles Lubricants Industry Overview

The Mexico Passenger Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 65.38%. The major players in this market are Bardahl, BP PLC (Castrol), ExxonMobil Corporation, Roshfrans and Royal Dutch Shell Plc (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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