Turkey Automotive Engine Oils - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2015 - 2026
The Turkey Automotive Engine Oils Market size is estimated at 167.38 Million Liters in 2024, and is expected to reach 189.35 Million Liters by 2026, growing at a CAGR of 6.36% during the forecast period (2024-2026).
Key Highlights
- Largest Segment by Vehicle Type - Commercial Vehicles : The high average engine oil capacity of heavy-duty trucks and buses resulted in the commercial vehicle (CV) sector consuming the highes engine oil volumes in Turkey.
- Fastest Segment by Vehicle Type - Passenger Vehicles : The recovery in car production and sales in Turkey is predicted to be faster starting in 2021, increasing the growth rate of engine oil consumption in the near future.
Turkey Automotive Engine Oils Market Trends
Largest Segment By Vehicle Type : Commercial Vehicles
- Engine oils accounted for about 70% of the overall automotive lubricants consumed in Turkey, in 2020. Between 2015 and 2019, engine oil consumption declined by around 6%. The declined industrial activity and freight transportation was the major factor behind this drop.
- In 2020, the COVID-19 outbreak led to a massive decline in the usage rate of the existing vehicle fleets in the country, which led to 6.1% dip in engine oil consumption. Commercial Vehicle (CV) segment recorded the largest decline of 7% in engine oil consumption during the year.
- During 2021-2026, the passenger vehicles segment is expected to register the highest growth of about 7.86% in the engine oil consumption, followed by motorcycles segment (6.7%). The growth is likely to be driven by increasing demand for cars in the country over the next five years.
Turkey Automotive Engine Oils Industry Overview
The Turkey Automotive Engine Oils Market is fairly consolidated, with the top five companies occupying 87.48%. The major players in this market are BP PLC (Castrol), FUCHS, Petrol Ofisi, Royal Dutch Shell PLC and TotalEnergies (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 Grade
- 5 Competitive Landscape
- 5.1 Key Strategic Moves
- 5.2 Market Share Analysis
- 5.3 Company Profiles
- 5.3.1 Altinbas Holdings (Alpet Madeni Yağları)
- 5.3.2 BELGIN Oil
- 5.3.3 BP PLC (Castrol)
- 5.3.4 Demiroren (M Oil)
- 5.3.5 FUCHS
- 5.3.6 Gulf Oil International
- 5.3.7 LUKOIL
- 5.3.8 Petrol Ofisi
- 5.3.9 Royal Dutch Shell PLC
- 5.3.10 TotalEnergies
- 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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