Article -> Article Details
| Title | Vietnam Automotive Lubricants Market Size, Share, Growth and Forecast 2025-2033 |
|---|---|
| Category | Automotive --> Automotive Parts |
| Meta Keywords | vietnam automotive lubricants market |
| Owner | akshaykumar |
| Description | |
| Market Overview The Vietnam Automotive Lubricants Market is projected to grow at a CAGR of 4.09% during the forecast period 2025-2033. The market size in 2024 is valued at USD 5 million. Growth is driven by rising vehicle ownership, infrastructure development, increased disposable incomes, and demand for high-quality lubricants that enhance vehicle efficiency and longevity across passenger and commercial segments. Study Assumption Years
Vietnam Automotive Lubricants Market Key Takeaways
Sample Request Link: https://www.imarcgroup.com/vietnam-automotive-lubricants-market/requestsample Market Growth Factors Rapid urbanization and road infrastructure development, along with the increasing affordability and spending power of the middle-class population in Vietnam, is driving the automotive lubricants market in the country. The growing fleet of two and four wheelers will drive the demand for engine oils, transmission fluids and gear oils in the OEM and aftermarket segments as well. Commercial logistics growth and e-commerce growth have also led to more intensive lubricant use and lubricant consumption. In 2024, domestic automotive production in Vietnam reached around 388,500 vehicles, up 27% from 2023. The annual income level of Vietnamese households rising with 60% predicted to earn more than USD 5,000 by 2027, demand for automotive lubricants is expected to grow on account of rising automotive ownership. The expectation of infrastructure investment from the government at 7% of GDP and economic growth at the rate of 8% assumes more roads and public transport would trigger lubricant consumption. Furthermore, the ever-evolving technology and engine designs within a vehicle industry means that the requirements of the lubricant also change, with newer engine designs needing lubricants that cope with higher temperatures and longer service intervals. This is being followed by synthetic lubricants that improve engine efficiency and longevity, and increasingly common branded service center networks and improved workshop chains. Companies like Idemitsu and Motul partner with local workshops in urban areas, increasing lubricant availability and consumption. Market Segmentation Product Type:
Vehicle Type:
Regional Insights The dominant region in Vietnam's automotive lubricants market is Southern Vietnam. This region, including Ho Chi Minh City, contributes the most due to its high vehicle density, commercial activity, and logistics hubs. Two-wheelers dominate transportation, and rising passenger car sales foster a growing market for synthetic lubricants. The tropical climate and heavy vehicle traffic necessitate lubricants with strong thermal and wear protection properties. The extensive network of workshops and retailers in this region further supports market growth. Recent Developments & News
Key Players
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