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Thailand Automotive Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2018 - 2026

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  • 90 Pages
  • February 2024
  • Region: Thailand
  • Mordor Intelligence
  • ID: 5656790
UP TO OFF until Mar 31st 2024
The Thailand Automotive Lubricants Market size is estimated at 440.5 Million Liters in 2024, and is expected to reach 460.24 Million Liters by 2026, growing at a CAGR of 2.22% during the forecast period (2024-2026).

Key Highlights

  • Largest Segment by Vehicle Type - Commercial Vehicles : Thailand has a large active passenger vehicle parc. As a result, the lubricant consumption of this sector occupies the highest share in the overall lubricant market.
  • Fastest Segment by Vehicle Type - Passenger Vehicles : The recovery in motorcycle production, usage, and sales in Thailand from 2021 are likely to support the motorcycle lubricant market's healthy growth over the coming years.
  • 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 for high-temperature and high-pressure applications.
  • Fastest Segment by Product Type - Hydraulic Fluids : The expected recovery of automotive sales and production in Thailand from 2021 is likely to drive the demand for hydraulic fluids in the country during the forecast period.

Thailand Automotive Lubricants Market Trends

Largest Segment By Vehicle Type : Commercial Vehicles

  • In Thailand, motorcycles accounted for the largest share of 52.9% among the total number of on-road vehicles in 2020, followed by passenger vehicles (PVs) and commercial vehicles (CVs), with a share of 26.97% and 20.12%, respectively.
  • The CV segment accounted for the highest share of 79% in total automotive lubricants consumption in 2020, followed by passenger vehicles (13%) and motorcycles (8%), respectively. In 2020, the COVID-19 outbreak led to a notable dip in lubricants consumption, where motorcycle lubricant consumption recorded the highest dip of 16.06%, followed by passenger vehicles (15.7%).
  • The PV segment is projected to be the fastest-growing lubricant consumer, with a CAGR of 4.6% during 2021-2026. The expected initiation in sales of electric vehicles and recovery in average distance traveled by existing fleets are expected to drive the PV lubricant consumption during this period.

Thailand Automotive Lubricants Industry Overview

The Thailand Automotive Lubricants Market is moderately consolidated, with the top five companies occupying around 53%. The major players in this market are Bangchak Corporation, CHEVRON CORPORATION, ExxonMobil Corporation, PTT Lubricants and Royal Dutch Shell Plc (sorted alphabetically).

Additional Benefits:

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

This product will be delivered within 2 business days.

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 Vehicle Type
4.1.1 Commercial Vehicles
4.1.2 Motorcycles
4.1.3 Passenger Vehicles
4.2 By Product Type
4.2.1 Engine Oils
4.2.2 Greases
4.2.3 Hydraulic Fluids
4.2.4 Transmission & Gear Oils
5 Competitive Landscape
5.1 Key Strategic Moves
5.2 Market Share Analysis
5.3 Company Profiles
5.3.1 Bangchak Corporation
5.3.2 BP PLC (Castrol)
5.3.4 ENEOS Corporation
5.3.5 ExxonMobil Corporation
5.3.6 Idemitsu Kosan Co. Ltd
5.3.7 PTT Lubricants
5.3.8 Royal Dutch Shell Plc
5.3.9 Siam Pan Group Public Co. Ltd
5.3.10 Thai Petroleum & Trading Co. Ltd
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:

  • Bangchak Corporation
  • BP PLC (Castrol)
  • ENEOS Corporation
  • ExxonMobil Corporation
  • Idemitsu Kosan Co. Ltd
  • PTT Lubricants
  • Royal Dutch Shell Plc
  • Siam Pan Group Public Co. Ltd
  • Thai Petroleum & Trading Co. Ltd