Market Statistics

Base Year: 2024

Historical Years: 2019-2024

Forecast Years: 2025-2033

Market Size in 2024: USD 2,125.50 Million

Market Forecast in 2033: USD 3,078.01 Million

Market Growth Rate: 4.20% (2025-2033)

According to the latest report by IMARC Group, the Mexico lubricants market size reached USD 2,125.50 million in 2024. Looking forward, IMARC Group expects the market to reach USD 3,078.01 million by 2033, exhibiting a CAGR of 4.20% from 2025 to 2033.

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Mexico Lubricants Industry Trends and Drivers

The lubricants market in Mexico is witnessing stable growth, driven by growing vehicle ownership, increasing industrial activities, and a rise in demand for high-performance lubricants. The automotive sector is clearly the market leader and accounts for nearly 62% of lubricant consumption and is supported by a 9.8% increase in vehicle sales in 2024 (according to data from the National Institute of Geography and Statistics (INEGI ), with total unit sales of 1,496,806 in 2024 according to INEGI. Engine oils are the dominant product category because they are necessary for vehicle maintenance, especially in passenger cars and commercial fleets of all sizes. The growth in mining activities, including a reported increase in production value of 1.4% for July 2024 from the INEGI’s Monthly Index of Industrial Activity, will increase demand for heavy-duty lubricants used in mining machinery.

Mexico Lubricants Market Segmentation

The market report offers a comprehensive analysis of the segments, highlighting those with the largest Mexico lubricants market share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments:

Product Type Insights:

• Engine Oil

• Transmission/Hydraulic Fluid

• Metalworking Fluid

• General Industrial Oil

• Gear Oil

• Grease

• Process Oil

• Others

Base Oil Insights:

• Mineral Oil

• Synthetic Oil

• Bio-Based Oil

End-Use Industry Insights:

• Power Generation

• Automotive and Other Transportation

• Heavy Machinery

• Food and Beverage

• Metallurgy and Metalworking

• Others

Regional Insights:

• Northern Mexico

• Central Mexico

• Southern Mexico

• Others

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Competitive Landscape

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant. Additionally, the report features detailed profiles of major companies in the Mexico lubricants industry.

Other Key Points Covered in the Report:

• COVID-19 Impact on the Market

• Porter's Five Forces Analysis

• Strategic Recommendations

• Market Dynamics

• Historical, Current, and Future Market Trends

• Market Drivers and Success Factors

• SWOT Analysis

• Value Chain Analysis

• Comprehensive Mapping of the Competitive Landscape

• Top Winning Strategies

• Recent Industry News

• Key Technological Trends & Development

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.