Turkey Passenger Vehicles Lubricants Market - Size, Share, COVID-19 Impact & Forecasts Up To 2026

The Turkey Passenger Vehicles Lubricants Market stood at 84.21 million liters in 2021 and is projected to register a CAGR of 7.91% to reach 123.20 million liters in 2026.

Key Highlights

• Largest Segment by Product Type - Engine Oils: Engine oil is the leading product type due to its high volume requirements and shorter drain intervals, as it is used in high-temperature and high-pressure applications.
• Fastest Segment by Product Type - Greases: The increasing usage of older and newer passenger cars along with expecteed increase in production capacities in the country are likley to support the consumption of greases.

Key Market Trends

Largest Segment By Product Type: Engine Oils

• In Turkey, passenger vehicles (PVs) is the second-largest vehicle type in terms of automotive lubricant consumption. During 2015-2019, the PV lubricant consumption grew with a CAGR of 2.8% primarily owing to the surge in the car population of the country.
• In 2020, PVs accounted for about 41% of the total automotive lubricant consumption in the country. Engine oil accounted for the largest share in the PV lubricant consumption, with a share of around 72.8% during the year. During 2020, PV lubricants consumption declined by over 5% due to the lower usage of the vehicle fleet post COVID-19 outbreak.
• During 2021-2026, the grease segment is likely to be the fastest-growing lubricant type with a CAGR of 8.44%. This growth is likely to be driven by rise in sales of passenger cars and recovery in average distance travelled in the country.

Competitive Landscape

The Turkey Passenger Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 82.60%. 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