Market Size of South America Automotive Engine Oils Industry
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Forecast Data Period | 2024 - 2028 |
| Historical Data Period | 2018 - 2019 |
| CAGR | 2.97 % |
| Market Concentration | High |
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South America Automotive Engine Oils Market Analysis
The South America Automotive Engine Oils Market stood at 1.15 billion liters in 2021 and is projected to register a CAGR of 2.97% to reach 1.33 billion liters in 2026.
- Largest Segment by Vehicle Type - Commercial Vehicles : The commercial vehicle segment in the region consumes the majority of engine oil due to the high average engine oil capacity of heavy-duty trucks, pick-up trucks, and buses.
- Fastest Segment by Vehicle Type - Motorcycles : Post COVID-19 pandemic, there has been an increase in demand for used and high-end motorcycles in Brazil and Colombia, which may increase motorcycle engine oil consumption.
- Largest Country Market - Brazil : Brazil has the highest proportion of passenger vehicles, commercial vehicles, and motorcycles among all South American countries, making it the leading engine oil consumer.
- Fastest Growing Country Market - Colombia : The expected growth in the active vehicle fleet in Colombia, along with the widespread use of mineral oils, is likely to propel the demand for engine oils at a healthy rate.
