Colombia Automotive Engine Oils Market Analysis
The Colombia Automotive Engine Oils Market size is estimated at 116.07 million liters in 2025, and is expected to reach 147.37 million liters by 2030, at a CAGR of 4.89% during the forecast period (2025-2030).
- Largest Segment by Vehicle Type - Commercial Vehicles : The commercial vehicle (CV) sector in Colombia consumes the majority of engine oils due to high average engine oil capacity of heavy-duty trucks, pick-up trucks, and buses.
- Fastest Segment by Vehicle Type - Motorcycles : In Colombia, there has been a rise in demand for old and high-end motorcycles since the COVID-19 pandemic, indicating the increasing motorcycle engine oil consumption.
Colombia Automotive Engine Oils Market Trends
Largest Segment By Vehicle Type : Commercial Vehicles
- Engine oils accounted for about 79.8% of automotive lubricants in Colombia in 2020. During 2015-2019, engine oil consumption increased at a CAGR of 2.25% due to the country's growing active vehicle fleet and increasing service needs.
- In 2020, the COVID-19 outbreak led to a massive decline in the usage rate of the existing vehicle fleets in the country, which led to a 7.74% dip in engine oil consumption. The passenger vehicles (PVs) segment recorded the largest decline of 12.11% in engine oil consumption during the year.
- During 2021-2026, the commercial vehicle segment is expected to register the highest growth of about 3.77% in transmission oil consumption, followed by hydraulic fluids (3.36%). The growth is likely to be driven by increasing demand for new trucks and motorcycles in the country over the next five years.
Colombia Automotive Engine Oils Industry Overview
The Colombia Automotive Engine Oils Market is fairly consolidated, with the top five companies occupying 81.35%. The major players in this market are Biomax, Chevron Corporation, Petromil SA, Royal Dutch Shell PLC and Terpel (sorted alphabetically).
Colombia Automotive Engine Oils Market Leaders
Biomax
Chevron Corporation
Petromil SA
Royal Dutch Shell PLC
Terpel
- *Disclaimer: Major Players sorted in no particular order
Colombia Automotive Engine Oils Market News
- August 2021: Motul introduces a new and improved version of its flagship product, with a revolutionary formula that once again pushes the boundaries of performance, which would be showcased at the 24 Hours of Le Mans, the world's most famous racing event.
- August 2021: Megacomercial has been a Motul Importers Network Member in the auto, industry, marine, and heavy categories since 2019. It would now do so for Antioquia, Chocó, and the Atlantic Coast in the motorcycle segment.
- June 2021: TotalEnergies and Stellantis renewed their commercial partnership for the Peugeot, Citroen, and DS Automobiles brands for the next five years until 2026.
