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Vietnam 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; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Vietnam Automotive Lubricants Market Size
The Vietnam automotive lubricants market is projected to grow at a CAGR of 6.40% between 2024 and 2032.
Vietnam Automotive Lubricants Market Outlook
- The Vietnamese government aims to increase the production of electric vehicles (EVs) in order for them to make up around 10 per cent of the overall sales of new vehicles by 2030, which could drive the demand for specialised EV lubricants.
- In May 2024, there was a 6.1% increase in commercial car sales reported by the Vietnam Automobile Manufacturers Association, leading to a rise in the demand for automotive lubricants.
- The Vietnam Automobile Manufacturers' Association saw an increase of 8.6 per cent in passenger car sales in May 2024, presenting significant growth potential for passenger vehicle lubricants.
Vietnam Automotive Lubricants Market Growth
Growing vehicle ownership in Vietnam, rising investments in the automotive sector, and the increasing usage of synthetic and semi-synthetic oils are some of the crucial market drivers. Synthetic lubricants are becoming increasingly popular as they offer superior performance, longer oil change intervals, and improved protection against engine wear and tear compared to traditional mineral oils. Synthetic lubricants are also favoured for their environmental advantages, including reduced emissions and improved fuel efficiency.
The increasing popularity of electric vehicles (EVs) has led to a growing demand for specific lubricants and coolants which meet the specific lubrication requirements of electric drivetrains compared to internal combustion engine (ICE) vehicles. Moreover, the burgeoning popularity of online e-commerce platforms has made it easier to purchase automotive lubricants for consumers.
Vietnam Automotive Lubricants Industry Segmentation
“Vietnam 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
Market Breakup by Region
- Southeast
- Red River Delta
- Mekong River Delta
- South Central Coast
- Others
Vietnam Automotive Lubricants Market Share
Based on vehicle type, the market is divided into passenger vehicles, commercial vehicles, and two wheelers. Passenger vehicles hold the highest share in the market owing to the rising sales of passenger cars in Germany due to their increased affordability and the preference for personal transportation among the people. Additionally, car owners are likely to adhere to regular maintenance schedules, which can create a consistent demand for lubricants.
Leading Companies in the Vietnam Automotive Lubricants Market
The market players are developing green lubricants which can address environmental concerns in the transportation sector.
- Shell Plc
- Exxon Mobil Corp.
- Motul S.A.
- Chevron Corp.
- BP Plc
- Petrolimex Petrochemical Corporation
- Eneos Holdings Inc.
- AP SAIGON PETRO
- MEKONG PETROCHEMICAL JSC
- Phuc Thanh Trading & Manufacturing Co. (Nikko Lubricant Vietnam)
- 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 |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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*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 Vietnam Automotive Lubricants Market Overview
9.1 Key Industry Highlights
9.2 Vietnam Automotive Lubricants Historical Market (2018-2023)
9.3 Vietnam Automotive Lubricants Market Forecast (2024-2032)
10 Vietnam 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 Vietnam 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 Vietnam 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 Vietnam Automotive Lubricants Market by Region
13.1 Southeast
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Red River Delta
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Mekong River Delta
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Central Coast
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Shell Plc
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Exxon Mobil Corp.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Motul S.A.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Chevron Corp.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 BP Plc
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Petrolimex Petrochemical Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Eneos Holdings Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 AP SAIGON PETRO
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 MEKONG PETROCHEMICAL JSC
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Phuc Thanh Trading & Manufacturing Co. (Nikko Lubricant Vietnam)
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 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. Vietnam Automotive Lubricants Market: Key Industry Highlights, 2018 and 2032
3. Vietnam Automotive Lubricants Historical Market: Breakup by Vehicle Type (USD Million), 2018-2023
4. Vietnam Automotive Lubricants Market Forecast: Breakup by Vehicle Type (USD Million), 2024-2032
5. Vietnam Automotive Lubricants Historical Market: Breakup by Product Type (USD Million), 2018-2023
6. Vietnam Automotive Lubricants Market Forecast: Breakup by Product Type (USD Million), 2024-2032
7. Vietnam Automotive Lubricants Historical Market: Breakup by Fluid Type (USD Million), 2018-2023
8. Vietnam Automotive Lubricants Market Forecast: Breakup by Fluid Type (USD Million), 2024-2032
9. Vietnam Automotive Lubricants Historical Market: Breakup by Region (USD Million), 2018-2023
10. Vietnam Automotive Lubricants Market Forecast: Breakup by Region (USD Million), 2024-2032
11. Vietnam Automotive Lubricants Market Structure
Key Questions Answered in the Report
The market is estimated to grow at a CAGR of 6.40% between 2024 and 2032.
The market is being driven due to growing vehicle ownership in Vietnam, rising investments in the automotive sector, and the increasing usage of synthetic and semi-synthetic oils.
The key trends aiding the market include the increasing popularity of electric vehicles (EVs) has led to a growing demand for specific lubricants and the burgeoning popularity of online e-commerce platforms has made it easier to purchase automotive lubricants.
Regions considered in the market are Southeast, Red River Delta, Mekong River Delta, and South Central Coast, among others.
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, Exxon Mobil Corp., Motul S.A., Chevron Corp., BP Plc, Petrolimex Petrochemical Corporation, Eneos Holdings Inc., AP SAIGON PETRO, MEKONG PETROCHEMICAL JSC, and Phuc Thanh Trading & Manufacturing Co. (Nikko Lubricant Vietnam), among others.
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