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

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

The North America Passenger Vehicles Lubricants Market size is estimated at 3.54 Billion Liters in 2024, and is expected to reach 3.61 Billion Liters by 2026, growing at a CAGR of 0.98% during the forecast period (2024-2026).

Key Highlights

• Largest Segment by Product Type - Engine Oils : Engine oil is the leading product type due to its high volume requirements and low drain interval, as it is used for high-temperature and high-pressure applications.
• Fastest Segment by Product Type - Engine Oils : The expected recovery of passenger vehicle sales in the country and the growing usage of the existing vehicle fleet may drive the demand for engine oils during 2021-2026.
• Largest Country Market - United States : The United States is one of the largest passenger vehicle markets, globally, and a leading lubricant consumer in North America, due to its high passenger vehicle population.
• Fastest Growing Country Market - Mexico : The expected recovery in passenger vehicle production and sales in domestic and export markets are expected to drive the passenger vehicle lubricant demand in Mexico.

North America Passenger Vehicles Lubricants Market Trends

Largest Segment By Product Type : Engine Oils

• The passenger vehicle lubricant consumption recorded a moderate growth during 2015-2020. This was primarily due to factors, such as increasing OEM and aftermarket consumption of synthetic lubricants and the COVID-19 outbreak in 2020. Among all the vehicle types, the largest dip in lubricant consumption during 2020 was observed in the passenger vehicle segment.
• The COVID-19 outbreak has led to a major decline in the usage of personal vehicles for commuting, which has reduced the need for maintenance activities. The overall drop in lubricant consumption in passenger vehicles was observed to be about 19% in 2020.
• With commuting norms being slowly eased, the usage of personal vehicles has been increasing gradually in 2021, which is expected to drive the recovery of passenger vehicle lubricant consumption at a CAGR of 3.14% over the forecast period.

Largest Country : United States

• In North America, passenger vehicle lubricant consumption recorded a moderate growth during 2015-2020. This was primarily due to factors such as increasing OEM and aftermarket consumption of synthetic lubricants and the COVID-19 pandemic in 2020. Among all the vehicle types, the most significant dip in lubricant consumption during 2020 was observed in the passenger vehicle segment.
• The COVID-19 pandemic led to a significant decline in the usage of personal vehicles for commuting, which reduced the need for maintenance activities. The overall drop in lubricant consumption in passenger vehicles was observed to be about 19% in 2020.
• With commuting norms being slowly eased, the usage of personal vehicles increased gradually in 2021, which is expected to drive the recovery of passenger vehicle lubricant consumption at a CAGR of 3.14% over the forecast period.

North America Passenger Vehicles Lubricants Industry Overview

The North America Passenger Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 69.55%. The major players in this market are BP PLC (Castrol), Chevron Corporation, ExxonMobil Corporation, Royal Dutch Shell Plc and Valvoline Inc. (sorted alphabetically).

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