+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

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

  • PDF Icon


  • September 2022
  • Region: Vietnam
  • Mordor Intelligence
  • ID: 5656778
UP TO OFF until Sep 30th 2023
The Vietnam Passenger Vehicles Lubricants Market stood at 15.41 million liters in 2021 and is projected to register a CAGR of 3.19% to reach 18.04 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 - Transmission & Gear Oils: The expected growth in the penetration of automatic transmissions and increasing need for older cars are expected to augment the transmission oils segment in the near future.

Key Market Trends

Largest Segment By Product Type: Engine Oils

  • In Vietnam, passenger vehicles (PVs) is the smallest segment in terms of automotive lubricant consumption. During 2015-2019, the PV lubricant consumption witnessed a CAGR of 4.69%, primarily due to the surge in the country's active car population.
  • In 2020, PVs accounted for about 7.35% of the total automotive lubricant consumption in the country. Engine oil accounted for the largest share in PV lubricant consumption, with a share of about 86.48% during 2020. During 2020, PV lubricants consumption declined by 15.83% due to the lower usage of the vehicle fleet post-COVID-19 outbreak.
  • During 2021-2026, the transmission oils segment is likely to be the fastest-growing, with a CAGR of 6.32%. This growth is likely to be driven by rising sales of automatic passenger cars and recovery in average distance traveled in the country.

Competitive Landscape

The Vietnam Passenger Vehicles Lubricants Market is moderately consolidated, with the top five companies occupying 59.31%. 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

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 Product Type
4.1.1 Engine Oils
4.1.2 Greases
4.1.3 Hydraulic Fluids
4.1.4 Transmission & Gear Oils
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 ENEOS Corporation
5.3.5 Idemitsu Kosan Co. Ltd
5.3.6 Mekong Petrochemical JSC
5.3.7 Motul
5.3.8 Petrolimex (PLX)
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

Companies Mentioned

A selection of companies mentioned in this report includes:

  • AP Saigon Petro JSC
  • BP Plc (Castrol)
  • Chevron Corporation
  • ENEOS Corporation
  • Idemitsu Kosan Co. Ltd
  • Mekong Petrochemical JSC
  • Motul
  • Petrolimex (PLX)
  • Royal Dutch Shell Plc
  • TotalEnergies