Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Vietnam Passenger Vehicles Lubricants Market Growth

The growing production of passenger vehicles, the shift in the Vietnamese consumer preference towards eco-efficient lubricants, and the rising demand for high-performance lubricants that enhance the operational efficiency of passenger vehicles are some of the crucial drivers propelling the demand of Vietnam passenger vehicles market. The rapid urbanization is another key factor influencing the growth of the market in the country. Growing urban areas drive up the demand for personal vehicles and, consequently, for automotive lubricants.

 

The burgeoning popularity of bio-based lubricants is fuelling their demand as they are non-toxic and environmentally friendly in nature and offer similar or better performance to conventional lubricants. Market players are developing lubricants with extended drain intervals to increase the oil change interval as well as the frequency of vehicle maintenance. Furthermore, due to the growing deployment of EVs in the country, there is a surge in EV lubricants which can lubricate gears, bearings, and other moving components in the EVs and hybrid vehicles. This is also positively influencing the Vietnam passenger vehicles lubricants market dynamics and trends.

 

Vietnam Passenger Vehicles Lubricants Market Report Snapshots

Vietnam Passenger Vehicles Lubricants Market Size

Vietnam Passenger Vehicles Lubricants Market Growth

Vietnam Passenger Vehicles Lubricants Market Share

Vietnam Passenger Vehicles Lubricants Companies

 

*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.*

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Key Questions Answered in the Report

The market is estimated to grow at a CAGR of 5.70% between 2024 and 2032.

The market is being driven due to growing production of passenger vehicles, a shift in the Vietnamese consumer preference towards eco-efficient lubricants, and rising demand for high-performance lubricants.

The key trends aiding the market include the burgeoning popularity of bio-based lubricants, the growth of lubricants with extended drain intervals, and the surge in EV lubricants.

Regions considered in the market are Southeast, Red River Delta, Mekong River Delta, and South Central Coast, among others.

Based on product type, market segmentations include engine oils, greases, hydraulic fluids, and transmission and gear oils.

The major players in the market are Shell Plc, TotalEnergies SE, Idemitsu Kosan Co., Ltd., Motul S.A., Chevron Corp., BP Plc, Petrolimex Petrochemical Corporation, Eneos Holdings Inc., AP SAIGON PETRO, and MEKONG PETROCHEMICAL JSC, among others.

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