China Passenger Vehicles Lubricants Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 3.08 Billion Liters |
| Market Volume (2026) | 3.43 Billion Liters |
| CAGR (2024 - 2026) | 5.53 % |
| Market Concentration | High |
China Passenger Vehicles Lubricants Market Analysis
The China Passenger Vehicles Lubricants Market size is estimated at 3.08 Billion Liters in 2024, and is expected to reach 3.43 Billion Liters by 2026, growing at a CAGR of 5.53% during the forecast period (2024-2026).
- Largest Segment by Product Type - Engine Oils : Engine oils form the leading product type due to their high volume requirements and short drain intervals, as they are used in high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Transmission & Gear Oils : Increasing electric vehicle (EV) sales and the use of automatic transmissions in the country are expected to enhance transmission oils' demand throughout the forecast period.
China Passenger Vehicles Lubricants Market Trends
This section covers the major market trends shaping the China Passenger Vehicles Lubricants Market according to our research experts:
Largest Segment By Product Type : Engine Oils
- In China, among all product types, engine oils accounted for a share of 80.17% of the total passenger vehicle (PV) lubricant demand during 2020. During 2015-2019, the overall engine oil consumption increased at a CAGR of 7.95% due to a rise in travel rates of the domestic passenger vehicle fleet.
- During 2020, PV engine oil consumption recorded a growth rate of 1.42%, while grease recorded negative growth of 6.26%. This negative trend in grease demand was majorly due to COVID-19 restrictions, which considerably reduced vehicle use and greater service requirements for greases.
- Over the forecast period, the transmission oil segment is likely to be the fastest-growing segment with a CAGR of 7.5%. The growing demand for vehicles with automatic transmission systems is projected to drive the demand for transmission oils in the country over the coming years.
China Passenger Vehicles Lubricants Industry Overview
The China Passenger Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 72.34%. The major players in this market are BP PLC (Castrol), China National Petroleum Corporation, China Petroleum & Chemical Corporation, ExxonMobil Corporation and Royal Dutch Shell Plc (sorted alphabetically).
China Passenger Vehicles Lubricants Market Leaders
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BP PLC (Castrol)
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China National Petroleum Corporation
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China Petroleum & Chemical Corporation
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ExxonMobil Corporation
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Royal Dutch Shell Plc
*Disclaimer: Major Players sorted in no particular order
China Passenger Vehicles Lubricants Market News
- July 2021: TotalEnergies unveiled a new product (hybrid transmission fluid), which is specially made for Great Wall Motors to use in hybrid technology vehicles for high efficiency and high performance.
- May 2021: Jiangsu Lopal Tech Co. Ltd launched two new National VI lubricants, especially for Volkswagen's high-end gasoline engines and long-range diesel engines.
- March 2021: Castrol announced the launch of Castrol ON (a Castrol e-fluid range that includes e-gear oils, e-coolants, and e-greases) to its product portfolio. This range is specially designed for electric vehicles.
China Passenger Vehicles Lubricants Market Report - Table of Contents
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 Beijing Zhongrun Huayou Petrochemical Co. Ltd
5.3.2 BP PLC (Castrol)
5.3.3 China National Petroleum Corporation
5.3.4 China Petroleum & Chemical Corporation
5.3.5 ExxonMobil Corporation
5.3.6 Jiangsu Lopal Tech Co. Ltd
5.3.7 Qingdao COPTON Technology Co. Ltd
5.3.8 Royal Dutch Shell Plc
5.3.9 Tongyi Petrochemical Co. Ltd
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
China Passenger Vehicles Lubricants Industry Segmentation
| By Product Type | |
| Engine Oils | |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
China Passenger Vehicles Lubricants Market Research FAQs
How big is the China Passenger Vehicles Lubricants Market?
The China Passenger Vehicles Lubricants Market size is expected to reach 3.08 billion Liters in 2024 and grow at a CAGR of 5.53% to reach 3.43 billion Liters by 2026.
What is the current China Passenger Vehicles Lubricants Market size?
In 2024, the China Passenger Vehicles Lubricants Market size is expected to reach 3.08 billion Liters.
Who are the key players in China Passenger Vehicles Lubricants Market?
BP PLC (Castrol), China National Petroleum Corporation, China Petroleum & Chemical Corporation, ExxonMobil Corporation and Royal Dutch Shell Plc are the major companies operating in the China Passenger Vehicles Lubricants Market.
Which segment has the biggest share in the China Passenger Vehicles Lubricants Market?
In the China Passenger Vehicles Lubricants Market, the Engine Oils segment accounts for the largest share by product type.
Which is the fastest growing segment in the China Passenger Vehicles Lubricants Market?
In 2024, the Transmission & Gear Oils segment accounts for the fastest growing by product type in the China Passenger Vehicles Lubricants Market.
What years does this China Passenger Vehicles Lubricants Market cover, and what was the market size in 2023?
In 2023, the China Passenger Vehicles Lubricants Market size was estimated at 2.91 billion Liters. The report covers the China Passenger Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the China Passenger Vehicles Lubricants Market size for years: 2024, 2025 and 2026.
China Passenger Vehicles Lubricants Industry Report
Statistics for the 2024 China Passenger Vehicles Lubricants market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. China Passenger Vehicles Lubricants analysis includes a market forecast outlook to 2026 and historical overview. Get a sample of this industry analysis as a free report PDF download.
