The United States Passenger Vehicles Lubricants Market is at 2.67 billion liters in 2021 and is projected to register a CAGR of 3.08% to reach 3.11 billion liters in 2026. During 2020, COVID-19 led to a major decline in the usage of personal vehicles for commute, which reduced maintenance activities pertaining to passenger vehicles.
Key Highlights
- Largest Segment by Product Type - Engine Oils: Engine oil is the leading product type due to its high volume requirements and low drain interval. It is used for high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Engine Oils: The gradual recovery of passenger vehicle sales in the country and increasing average miles traveled are likely to drive the demand for engine oils during the forecast period.
Key Market Trends
Largest Segment By Product Type: Engine Oils
- In the United States, lubricant consumption in the passenger vehicles segment declined during 2015-2019, due to reduced oil change intervals and volatile sales. With the growing penetration of synthetic and semi-synthetic lubricants in the country and longer drain intervals, lubricant consumption has reduced. Additionally, passenger vehicle sales in the country recorded a negative CAGR of 0.11% during 2015-2019.
- During 2020, COVID-19 led to a major decline in the usage of personal vehicles for commute, which reduced maintenance activities pertaining to passenger vehicles.
- With social distancing measures being slowly eased, the usage of personal vehicles is increasing. This factor is expected to drive the recovery of passenger vehicle lubricant consumption in the United States, at a CAGR of 3.08%, during the forecast period.
Competitive Landscape
The United States Passenger Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 69.66%. The major players in this market are BP PLC (Castrol), ExxonMobil Corporation, Phillips 66 Lubricants, Royal Dutch Shell Plc and Valvoline Inc. (sorted alphabetically).Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Table of Contents
1 Executive Summary & Key Findings7 Key Strategic Questions for Lubricants CEOs
2 Introduction
3 Key Industry Trends
4 Market Segmentation
5 Competitive Landscape
6 Appendix
Companies Mentioned
A selection of companies mentioned in this report includes:
- AMSOIL Inc.
- BP PLC (Castrol)
- Chevron Corporation
- CITGO
- ExxonMobil Corporation
- Motul
- Phillips 66 Lubricants
- Royal Dutch Shell Plc
- TotalEnergies
- Valvoline Inc.
Methodology
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