Turkey Automotive Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2015 - 2026
The Turkey Automotive Lubricants Market size is estimated at 241.32 Million Liters in 2024, and is expected to reach 274.08 Million Liters by 2026, growing at a CAGR of 6.57% during the forecast period (2024-2026).
Key Highlights
- Largest Segment by Vehicle Type - Commercial Vehicles : The country's commercial vehicle industry has the largest lubricant consumption owing to Turkey's high average lubricant volumes and the presence of older trucks.
- Fastest Segment by Vehicle Type - Passenger Vehicles : The expected recovery of passenger vehicle sales and production in Turkey from 2021 is anticipated to drive the demand for engine oils and other lubricants at a steady rate.
- Largest Segment by Product Type - Engine Oils : Engine oils form the leading product type due to their high volume requirements and shorter drain intervals. They are used in high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Greases : The expected recovery in sales, production and imports of cars and motrocycles in Turkey from 2021 is expected to increase grease consumption in the coming years.
Turkey Automotive Lubricants Market Trends
Largest Segment By Vehicle Type : Commercial Vehicles
- In Turkey, passenger vehicles (PV) accounted for the largest share of 59.25% in the total number of on-road vehicles in 2020, followed by commercial vehicles (CVs) and motorcycles (MCs), with a share of 24.88% and 15.88%, respectively.
- The CV segment accounted for the highest share of around 56% in the total automotive lubricant consumption in 2020, followed by PV (40.87%) and MC (3.14%), respectively. In 2020, COVID-19 outbreak led to notable dip in lubricants consumption, where CV lubricant consumption recorded highest dip of 7.18%, followed by PV (5.47%) and MC (3.75%).
- The passenger vehicle segment is projected to be the fastest-growing lubricant consumer, at a CAGR of 7.91% over the period 2021-2026. In the coming years, the expected growth in annual travel rates, recovery in the sales and average annual distance travelled by commercial vehicles.
Turkey Automotive Lubricants Industry Overview
The Turkey Automotive Lubricants Market is fairly consolidated, with the top five companies occupying 86.92%. 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 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 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 ExxonMobil Corporation
- 5.3.6 FUCHS
- 5.3.7 Gulf Oil International
- 5.3.8 LUKOIL
- 5.3.9 Petrol Ofisi
- 5.3.10 Royal Dutch Shell PLC
- 5.3.11 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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