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The global passenger vehicles lubricants market is projected to register a CAGR of 4.04% to reach 13 billion liters by 2026. The major players in this market are BP PLC (Castrol), China National Petroleum Corporation, China Petroleum & Chemical Corporation, ExxonMobil Corporation, and Royal Dutch Shell PLC. For more key insights, tap to view more Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.

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China accounted for 35.94% of the total consumption of commercial vehicle lubricants in the Asia-Pacific region. The continuing financial incentives for new energy commercial vehicles and the increasing industrial activities in China are likely to drive the sales of commercial vehicles. This, in turn, is likely to drive lubricant consumption in this sector at a CAGR of 5.16% from (2021-to 2026). For more instrumental input, click more Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.

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Many companies such as Royal Dutch Shell PLC, GS Caltex, ExxonMobil, and Petronas have been expanding their product portfolio by launching engine oils for hybrid vehicle models. Shell has partnerships with many vehicle manufacturers, including Hyundai, Volvo, MAN, Ferrari, and BMW, to supply various grades of engine oils. For more in-depth inputs, click to read more Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.

The Chinese government provided major economic incentives on exchanging older diesel vehicles with newer vehicles that meet the National Emission Stage IV standards. This, in turn, resulted in high sales of heavy-duty commercial vehicles sales. Additionally, the tightening and regularizing of controls on overloading also forced owners to procure additional trucks for their fleets during this period. Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.

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During 2021-2026, India is likely to become the fastest-growing engine oil market, as the consumption is likely to record a CAGR of 6.39%, followed by Indonesia and China, which are estimated to record a CAGR of 5.05% and 5.04%, respectively. Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.

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The Asia-pacific automotive lubricants market is projected to register a CAGR of 5.50% to reach 10.82 billion liters in 2026. In Korea, GS Caltex's Incheon plant produces 9,000 barrels of lubricating oil products and 8,000 tons of grease products a year. Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.

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The Asia-pacific automotive engine oils market is projected to reach 8.30 billion liters by 2026. There were many product launches and innovations in the Asia-Pacific automotive engine oils market in the recent past. Many companies such as Royal Dutch Shell PLC, GS Caltex, ExxonMobil, and Petronas have been expanding their product portfolio by launching engine oils for hybrid vehicle models. Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.

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The China commercial vehicles lubricants market is projected to register a CAGR of 5.86% to reach 1.43 billion liters by 2026. The financial incentives provided by the government over the purchase of new energy commercial vehicles and an increasingly strict limit on overloading are expected to be key factors driving the commercial vehicle fleet size in China during the forecast period. Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.

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The Asia-Pacific automotive engine oils market is projected to register a CAGR of 5.32% to reach 8.30 billion liters in 2026. Castrol has been serving engine oils to international markets and customers through its blending plants located in China, India, Thailand, Malaysia, and Vietnam in Asia-Pacific. Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.

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The China passenger vehicles lubricants market is projected to register a CAGR of 6.62% to reach 3.43 billion liters by 2026. The purchase of new cars with automatic transmissions in China is likely to grow in the coming years. Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.

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Various Asian governments, including India and China, have provided significant economic incentives for dumping old diesel cars and replacing them with electric vehicles. Over the last five years, the number of charging stations for electric vehicles has increased significantly in China and Japan. This trend is expected to continue during the forecast period. As a result, the passenger vehicle population in Asia-Pacific is expected to witness a CAGR of 4.75% between 2021 and 2026. Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.

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The Singapore commercial vehicles lubricants market is projected to register a CAGR of 2.06% to reach 7.40 million liters by 2026. The major players in this market are BP Plc (Castrol), Chevron Corporation, ExxonMobil Corporation, Royal Dutch Shell Plc, and TotalEnergies Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.

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The China commercial vehicles lubricants market is projected to register a CAGR of 5.86% to reach 1.43 billion liters by 2026. The tax incentives offered for the purchase of commercial vehicles and augmenting production outputs are projected to drive the demand for transmission oils in the country over the next five years. Connect with Mordor Intelligence, your trusted market intelligence adviser. Follow us for the latest industry-specific recent developments.

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