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Philippines Automotive Lubricants Market Size, Analysis: By Vehicle Type: Passenger Vehicles, Commercial Vehicles, Two Wheelers; By Product Type: Engine Oils, Greases, Hydraulic Fluids, Transmission and Gear Oils; By Fluid Type: Conventional, Synthetic, Semi-Synthetic; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Philippines Automotive Lubricants Market Size
The Philippines automotive lubricants market is projected to grow at a CAGR of 5.60% between 2024 and 2032.
Philippines Automotive Lubricants Market Outlook
- As per industry reports, from January to May 2024, the overall vehicle sales in the Philippines witnessed an increase of 13 per cent compared to 2023, which creates lucrative opportunities for lubricant growth.
- Commercial vehicle sales rose up to 137,944 units from January to May 2024 as compared to the previous year, boosting the demand for lubricants in this segment.
- In April 2024, General Petroleum launched a new range of automotive lubricants in the Philippines, which can enhance the lifespan and performance of equipment.
Philippines Automotive Lubricants Market Growth
Rising vehicle production in the country, a shift in customer preference towards synthetic lubricants, and growing demand for high-performance lubricants are some of the major market drivers. Synthetic lubricants offer better performance in tough conditions, longer lifespan, and enhanced engine protection compared to traditional mineral oils, which makes them a lucrative option.
The adoption of bio-based lubricants is on the rise due to their eco-friendly characteristics. These lubricants are both biodegradable and non-toxic, providing comparable or even better performance than synthetic and mineral alternatives.
Moreover, in order to enhance the effectiveness of lubricants, manufacturers in the country are dedicating resources to research and development, focusing on the production of advanced additives which aim to improve properties such as thermal stability, wear protection, and viscosity index, among others.
Philippines Automotive Lubricants Industry Segmentation
“Philippines Automotive Lubricants Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
- Two Wheelers
Market Breakup by Product Type
- Engine Oils
- Greases
- Hydraulic Fluids
- Transmission and Gear Oils
Market Breakup by Fluid Type
- Conventional
- Synthetic
- Semi-Synthetic
Philippines Automotive Lubricants Market Share
Based on product type, the market is divided into engine oils, greases, hydraulic fluids, and transmission and gear oils, among others. Engine oils account for a substantial market share as they play a crucial role in maintaining the proper functioning of all motor vehicles. They necessitate more frequent changes compared to transmission fluids and greases which boost the segment growth. Additionally, engine oil is a necessity for almost every type of vehicle, ranging from motorcycles and cars to trucks, aiding its demand in Vietnam.
Leading Companies in the Philippines Automotive Lubricants Market
The market players are increasingly developing bio-based lubricants amid rising environmental issues.
- Shell Plc
- TotalEnergies SE
- Chevron Corp.
- BP Plc
- PTT Public Company Limited
- Eneos Holdings Inc.
- Petron Corporation
- SEAOIL Philippines, Inc.
- Hinduja Group Ltd. (Gulf Oil International Ltd.)
- Udenna Corp. (Phoenix Petroleum Philippines, Inc.)
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Vehicle Type |
|
| Breakup by Product Type |
|
| Breakup by Fluid Type |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Automotive Lubricants Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Automotive Lubricants Historical Market (2018-2023)
8.3 Asia Pacific Automotive Lubricants Market Forecast (2024-2032)
9 Philippines Automotive Lubricants Market Overview
9.1 Key Industry Highlights
9.2 Philippines Automotive Lubricants Historical Market (2018-2023)
9.3 Philippines Automotive Lubricants Market Forecast (2024-2032)
10 Philippines Automotive Lubricants Market by Vehicle Type
10.1 Passenger Vehicles
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Commercial Vehicles
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Two Wheelers
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 Philippines Automotive Lubricants Market by Product Type
11.1 Engine Oils
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Greases
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Hydraulic Fluids
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Transmission and Gear Oils
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
12 Philippines Automotive Lubricants Market by Fluid Type
12.1 Conventional
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Synthetic
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Semi-Synthetic
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Shell Plc
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 TotalEnergies SE
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Chevron Corp.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 BP Plc
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 PTT Public Company Limited
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Eneos Holdings Inc.
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 Petron Corporation
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 SEAOIL Philippines, Inc.
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 Hinduja Group Ltd. (Gulf Oil International Ltd.)
14.2.9.1 Company Overview
14.2.9.2 Product Portfolio
14.2.9.3 Demographic Reach and Achievements
14.2.9.4 Certifications
14.2.10 Udenna Corp. (Phoenix Petroleum Philippines, Inc.)
14.2.10.1 Company Overview
14.2.10.2 Product Portfolio
14.2.10.3 Demographic Reach and Achievements
14.2.10.4 Certifications
14.2.11 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Automotive Lubricants Market: Key Industry Highlights, 2018 and 2032
2. Philippines Automotive Lubricants Market: Key Industry Highlights, 2018 and 2032
3. Philippines Automotive Lubricants Historical Market: Breakup by Vehicle Type (USD Million), 2018-2023
4. Philippines Automotive Lubricants Market Forecast: Breakup by Vehicle Type (USD Million), 2024-2032
5. Philippines Automotive Lubricants Historical Market: Breakup by Product Type (USD Million), 2018-2023
6. Philippines Automotive Lubricants Market Forecast: Breakup by Product Type (USD Million), 2024-2032
7. Philippines Automotive Lubricants Historical Market: Breakup by Fluid Type (USD Million), 2018-2023
8. Philippines Automotive Lubricants Market Forecast: Breakup by Fluid Type (USD Million), 2024-2032
9. Philippines Automotive Lubricants Market Structure
Key Questions Answered in the Report
The market is estimated to grow at a CAGR of 5.60% between 2024 and 2032.
The market is being driven due to rising vehicle production in the country, a shift in customer preference towards synthetic lubricants, and growing demand for high-performance lubricants.
The key trends aiding the market include the adoption of bio-based lubricants, the production of advanced additives, and expansion in the aftermarket.
Based on vehicle type, market segmentations include passenger vehicles, commercial vehicles, and two wheelers.
Various product types are engine oils, greases, hydraulic fluids, and transmission and gear oils.
The major players in the market are Shell Plc, TotalEnergies SE, Chevron Corp., BP Plc, PTT Public Company Limited, Eneos Holdings Inc., Petron Corporation, SEAOIL Philippines, Inc., Hinduja Group Ltd. (Gulf Oil International Ltd.), and Udenna Corp. (Phoenix Petroleum Philippines, Inc.), among others.
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