Turkey Automotive Engine Oils Market - Size, Share, COVID-19 Impact & Forecasts Up To 2026

The Turkey Automotive Engine Oils Market stood at 141.00 million liters in 2021 and is projected to register a CAGR of 6.08% to reach 189.35 million liters in 2026.

Key Highlights

• Largest Segment by Vehicle Type - Commercial Vehicles: The high average engine oil capacity of heavy-duty trucks and buses resulted in the commercial vehicle (CV) sector consuming the highes engine oil volumes in Turkey.
• Fastest Segment by Vehicle Type - Passenger Vehicles: The recovery in car production and sales in Turkey is predicted to be faster starting in 2021, increasing the growth rate of engine oil consumption in the near future.

Key Market Trends

Largest Segment By Vehicle Type: Commercial Vehicles

• Engine oils accounted for about 70% of the overall automotive lubricants consumed in Turkey, in 2020. Between 2015 and 2019, engine oil consumption declined by around 6%. The declined industrial activity and freight transportation was the major factor behind this drop.
• 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 6.1% dip in engine oil consumption. Commercial Vehicle (CV) segment recorded the largest decline of 7% in engine oil consumption during the year.
• During 2021-2026, the passenger vehicles segment is expected to register the highest growth of about 7.86% in the engine oil consumption, followed by motorcycles segment (6.7%). The growth is likely to be driven by increasing demand for cars in the country over the next five years.

Competitive Landscape

The Turkey Automotive Engine Oils Market is fairly consolidated, with the top five companies occupying 87.48%. 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