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PUBLISHER: Mordor Intelligence | PRODUCT CODE: 1430725
PUBLISHER: Mordor Intelligence | PRODUCT CODE: 1430725
Vietnam Automotive Engine Oils - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2021 - 2026)
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PAGES: 80 Pages
DELIVERY TIME: 2-3 business days
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The Vietnam Automotive Engine Oils Market size is estimated at 213.05 Million Liters in 2024, and is expected to reach 232.16 Million Liters by 2026, growing at a CAGR of 4.39% during the forecast period (2024-2026).
Key Highlights
- Largest Segment by Vehicle Type - Motorcycles : Increasing servicing frequencies and the growing motorcycle population in Vietnam are primary reasons for the high engine oil consumption in the motorcycles segment.
- Fastest Segment by Vehicle Type - Motorcycles : The anticipated robust rebound in motorcycle usage and sales in Vietnam from 2021 is expected to boost motorcycle engine oil consumption over the forecast period.
Vietnam Automotive Engine Oils Market Trends
Largest Segment By Vehicle Type : Motorcycles
- In Vietnam, engine oils accounted for about 87.56% of automotive lubricants in 2020. During 2015-2019, engine oil consumption increased at a CAGR of around 7.17%. The growing active vehicle fleet in the country was the key driver for this trend.
- 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 a 4.4% dip in engine oil consumption. The passenger vehicle (PV) segment recorded the largest decline of 17.56% in engine oil consumption during 2020.
- During 2021-2026, the motorcycles segment is expected to register the highest growth of about 4.89% in engine oil consumption, followed by the CV segment (2.58%). The growth is likely to be driven by strong demand for mopeds and motorcycles in the country over the next five years.
Vietnam Automotive Engine Oils Industry Overview
The Vietnam Automotive Engine Oils Market is moderately consolidated, with the top five companies occupying 57.59%. The major players in this market are BP Plc (Castrol), Mekong Petrochemical JSC, Petrolimex (PLX), Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Product Code: 90129
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 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 AP Saigon Petro JSC
- 5.3.2 BP Plc (Castrol)
- 5.3.3 Chevron Corporation
- 5.3.4 ExxonMobil Corporation
- 5.3.5 Mekong Petrochemical JSC
- 5.3.6 Motul
- 5.3.7 Petrolimex (PLX)
- 5.3.8 PVOIL
- 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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