Thailand Passenger Vehicles Lubricants Market Analysis
The Thailand Passenger Vehicles Lubricants Market size is estimated at 63.74 million liters in 2025, and is expected to reach 75.88 million liters by 2030, at a CAGR of 3.55% 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 for high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Transmission & Gear Oils : The expected recovery of passenger vehicle sales and production in Thailand from 2021 is expected to drive the demand for transmission oils during the forecast period.
Thailand Passenger Vehicles Lubricants Market Trends
Largest Segment By Product Type : Engine Oils
- In Thailand, the passenger vehicles segment is the second-largest segment in terms of automotive lubricant consumption. During 2015-2019, the country recorded a CAGR of 1.23% in PV lubricant consumption, majorly driven by the growth in sedan and rental vehicles.
- In 2020, the passenger vehicles segment accounted for about 13% 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 69.4% during the year. During 2020, PV lubricant consumption declined by 6.8% due to the COVID-19 pandemic, which led to a dip in PV sales and extended service intervals.
- During 2021-2026, the transmission oils segment is likely to be the fastest-growing segment with a CAGR of 5.01%. This growth is likely to be driven by the recovery in annual average distance traveled, production, and sales.
Thailand Passenger Vehicles Lubricants Industry Overview
The Thailand Passenger Vehicles Lubricants Market is moderately consolidated, with the top five companies occupying 51.52%. The major players in this market are Bangchak Corporation, CHEVRON CORPORATION, ExxonMobil Corporation, PTT Lubricants and Royal Dutch Shell Plc (sorted alphabetically).
Thailand Passenger Vehicles Lubricants Market Leaders
Bangchak Corporation
CHEVRON CORPORATION
ExxonMobil Corporation
PTT Lubricants
Royal Dutch Shell Plc
- *Disclaimer: Major Players sorted in no particular order
Thailand Passenger Vehicles Lubricants Market News
- June 2021: Shell and Ezyhaul (a digital road freight platform) were working closely to transform Thailand's freight market further. The partnership is expected to provide Thai business owners with immediate access to Shell and Ezyhaul offerings and prospects to expand their operations.
- April 2021: Esso (Thailand) Public Company Limited unveiled its updated Mobil Super line offering. It also introduced Mobil Super 3000 All-in-One Protection, Mobil Super 2000 Friction Fighter, and Mobil Super 1000 Everyday Protection engine oils.
- April 2021: Chevron introduced Havoline Lifelong Full Synthetic motor oil, a newly branded version of the Chevron Havoline PRO-DS High Mileage Full Synthetic motor oil, exclusively with Walmart.
