Philippines Passenger Vehicles Lubricants Market Analysis
The Philippines Passenger Vehicles Lubricants Market size is estimated at 11.27 million liters in 2025, and is expected to reach 13.94 million liters by 2030, at a CAGR of 4.35% during the forecast period (2025-2030).
- 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 : A rise in the adoption of automatic transmissions and gradual expansion in the electric vehicles sector may boost the sector's transmission oils demand in the future.
Philippines Passenger Vehicles Lubricants Market Trends
Largest Segment By Product Type : Engine Oils
- In the Philippines, the passenger vehicle (PV) segment is the third largest segment in terms of automotive lubricant consumption. During 2015-2019, the country recorded a CAGR of 1.80% in PV lubricant consumption, majorly driven by the rising on-road PV population.
- In 2020, PVs accounted for about 9.57% 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 85% during the year. In 2020, PV lubricant consumption declined by 18.16% due to the extended service intervals of PVs post the COVID-19 outbreak.
- During 2021-2026, the transmission oil segment is expected to be the fastest-growing segment, recording a CAGR of 5.76%. This growth is likely to be driven by a rise in sales of automatic cars and a recovery in average distance traveled in the country.
Philippines Passenger Vehicles Lubricants Industry Overview
The Philippines Passenger Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 76.11%. The major players in this market are BP Plc (Castrol), Chevron Corporation, Petron Corporation, Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).
Philippines Passenger Vehicles Lubricants Market Leaders
BP Plc (Castrol)
Chevron Corporation
Petron Corporation
Royal Dutch Shell Plc
TotalEnergies
- *Disclaimer: Major Players sorted in no particular order
Philippines Passenger Vehicles Lubricants Market News
- June 2021: Pilipinas Shell Petroleum Corp. extended its partnership with Isuzu Philippines Corp. till 2023. In this partnership, Shell has to supply its lubricants, fuels, and other products to Isuzu for two years.
- March 2021: Castrol announced the launch of Castrol ON (a Castrol e-fluid range that includes e-gear oils, e-coolants, and e-greases) to its product portfolio. This range is specially designed for electric vehicles.
- March 2021: Hyundai Motor Company and Royal Dutch Shell PLC announced a five-year global business cooperation agreement, with a new focus on clean energy and carbon reduction, to help Hyundai continue its transformation as a Smart Mobility Solution Provider.
