Europe Automotive Lubricants Market - Size, Share, COVID-19 Impact & Forecasts Up To 2026

The Europe Automotive Lubricants Market is at 2.93 billion liters in 2021 and is projected to register a CAGR of 2.49% to reach 3.32 billion liters in 2026. In 2020, post the COVID-19 outbreak, the usage of passenger cars in Europe significantly dropped due to the restrictions imposed to combat the pandemic. As a result, engine oil consumption from the sector dropped by over 18%.

Key Highlights

• Largest Segment by Vehicle Type - Passenger Vehicles: The highest lubricant consumption from the passenger vehicles sector in Europe is attributed to the high annual travel rates and requirements for regular oil changes.
• Fastest Segment by Vehicle Type - Passenger Vehicles: The expected recovery in passenger vehicle sales and production in Europe from 2021 is likely to drive the demand for lubricants in the region during the forecast period.
• Largest Country Market - Russia: The highest lubricant consumption in Russia is attributed to the large population of commercial trucks with a high average age and a high dependency on mineral lubricants.
• Fastest Growing Country Market - Poland: The rise in the sales and production of used cars and trucks is expected to augment the growth of automotive lubricants in Poland faster than in other countries.

Key Market Trends

Largest Segment By Vehicle Type: Passenger Vehicles

• In Europe, passenger vehicles accounted for a 78.28% share in the total number of on-road vehicles during 2020, followed by commercial vehicles and motorcycles with 12.27% and 9.44% shares, respectively.
• The passenger vehicles segment accounted for the highest share of 54.57% in the total automotive lubricant volume consumption in 2020, followed by the commercial vehicles segment with a 44.42% share. During the same year, travel restrictions to curb COVID-19 significantly affected the sales and production of passenger vehicles.
• In the first half of 2021, the COVID-19 second wave led to a slower recovery in sales than expected. Semiconductor shortage affected production in the passenger vehicles segment. However, with an expected recovery in production from 2022 and an increase in sales, the passenger vehicles segment is expected to record the highest CAGR of 3.14% over the forecast period.

Largest Country: Russia

• In Europe, automotive lubricant consumption is the highest in Russia, followed by Germany and France. In 2020, Russia accounted for about 18.73% of the total lubricant consumption in the region. Russia also recorded the largest shares in engine oil and grease consumption of about 20.6% and 14.03%, respectively.
• Germany recorded the largest share of 17.47% in transmission oils and 13.84% in hydraulic fluids during 2020. However, the COVID-19 outbreak significantly affected production and sales in the region.
• In the first half of 2021, European countries experienced the second wave of COVID-19, affecting sales. Production was also affected due to the semiconductor shortage. However, the automotive industry's growth rate is likely to improve from 2022, thus suggesting a CAGR of 2.49% to the European lubricants market.

Competitive Landscape

The Europe Automotive Lubricants Market is moderately consolidated, with the top five companies occupying 49.73%. The major players in this market are BP PLC (Castrol), ExxonMobil Corporation, LUKOIL, Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support