Bulgaria Commercial Vehicles Lubricants Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 6.48 Million Liters |
| Market Volume (2026) | 6.83 Million Liters |
| CAGR (2024 - 2026) | 2.67 % |
| Market Concentration | High |
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Bulgaria Commercial Vehicles Lubricants Market Analysis
The Bulgaria Commercial Vehicles Lubricants Market size is estimated at 6.48 Million Liters in 2024, and is expected to reach 6.83 Million Liters by 2026, growing at a CAGR of 2.67% during the forecast period (2024-2026).
- Largest Segment by Product Type - Engine Oils : Engine oils form the leading product type due to their higher volume requirements and short drain intervals, as compared to other lubricants across all vehicle types.
- Fastest Segment by Product Type - Transmission & Gear Oils : The increase in the usage and sales of new and used commercial vehicles in Bulgaria post 2020 is likely to drive the demand for transmission oils during the forecast period.
Bulgaria Commercial Vehicles Lubricants Market Trends
This section covers the major market trends shaping the Bulgaria Commercial Vehicles Lubricants Market according to our research experts:
Largest Segment By Product Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Engine Oils</span>
- The commercial vehicles (CV) segment's volume share in the overall automotive lubricants market increased from 30.47% in 2015 to 32.92% in 2019. In the past few years, an increase in the volumes of transmission and hydraulic oils in the CV segment propelled the consumption of lubricants. Commercial vehicle registrations exhibited a CAGR of 4.71% during 2015-2019.
- In 2020, transportation restrictions and economic shutdowns imposed by the Bulgarian government due to the pandemic led to a sudden decline of 9.95% in commercial vehicle lubricant consumption volume.
- By the second half of 2021, consumption volume rate is estimated to be at 5.3%. However, the yearly growth rate in consumption during the forecast period is likely to be on a declining trend. The decrease in annual service frequency is hampering growth, and it is expected to exhibit a CAGR of 3% during 2021-2026.
Bulgaria Commercial Vehicles Lubricants Industry Overview
The Bulgaria Commercial Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 88.63%. The major players in this market are CHEVRON CORPORATION, ExxonMobil Corporation, Prista Oil, Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).
Bulgaria Commercial Vehicles Lubricants Market Leaders
CHEVRON CORPORATION
ExxonMobil Corporation
Prista Oil
Royal Dutch Shell Plc
TotalEnergies
*Disclaimer: Major Players sorted in no particular order
Bulgaria Commercial Vehicles Lubricants Market News
- January 2022: Effective April 1, ExxonMobil Corporation was organized along three business lines - ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon Solutions.
- March 2021: Castrol announced the launch of Castrol ON (a Castrol e-fluid range that includes e-gear oils, e-coolants, and e-greases) to its product portfolio. This range is specially designed for electric vehicles.
- March 2021: Hyundai Motor Company and Royal Dutch Shell PLC announced a five-year global business cooperation agreement, with a new focus on clean energy and carbon reduction, to help Hyundai continue its transformation as a Smart Mobility Solution Provider.
Bulgaria Commercial Vehicles Lubricants Market Report - Table of Contents
1. Executive Summary & Key Findings
2. Introduction
2.1 Study Assumptions & Market Definition
2.2 Scope of the Study
2.3 Research Methodology
3. Key Industry Trends
3.1 Automotive Industry Trends
3.2 Regulatory Framework
3.3 Value Chain & Distribution Channel Analysis
4. Market Segmentation
4.1 By Product Type
4.1.1 Engine Oils
4.1.2 Greases
4.1.3 Hydraulic Fluids
4.1.4 Transmission & Gear Oils
5. Competitive Landscape
5.1 Key Strategic Moves
5.2 Market Share Analysis
5.3 Company Profiles
5.3.1 BP PLC (Castrol)
5.3.2 CHEVRON CORPORATION
5.3.3 ExxonMobil Corporation
5.3.4 Gazprom
5.3.5 INSA
5.3.6 LUKOIL
5.3.7 Motul
5.3.8 Prista Oil
5.3.9 Royal Dutch Shell Plc
5.3.10 TotalEnergies
6. Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
Bulgaria Commercial Vehicles Lubricants Industry Segmentation
| By Product Type | |
| Engine Oils | |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
Bulgaria Commercial Vehicles Lubricants Market Research FAQs
How big is the Bulgaria Commercial Vehicles Lubricants Market?
The Bulgaria Commercial Vehicles Lubricants Market size is expected to reach 6.48 million Liters in 2024 and grow at a CAGR of 2.67% to reach 6.83 million Liters by 2026.
What is the current Bulgaria Commercial Vehicles Lubricants Market size?
In 2024, the Bulgaria Commercial Vehicles Lubricants Market size is expected to reach 6.48 million Liters.
Who are the key players in Bulgaria Commercial Vehicles Lubricants Market?
CHEVRON CORPORATION, ExxonMobil Corporation, Prista Oil, Royal Dutch Shell Plc and TotalEnergies are the major companies operating in the Bulgaria Commercial Vehicles Lubricants Market.
Which segment has the biggest share in the Bulgaria Commercial Vehicles Lubricants Market?
In the Bulgaria Commercial Vehicles Lubricants Market, the Engine Oils segment accounts for the largest share by product type.
Which is the fastest growing segment in the Bulgaria Commercial Vehicles Lubricants Market?
In 2024, the Transmission & Gear Oils segment accounts for the fastest growing by product type in the Bulgaria Commercial Vehicles Lubricants Market.
What years does this Bulgaria Commercial Vehicles Lubricants Market cover, and what was the market size in 2023?
In 2023, the Bulgaria Commercial Vehicles Lubricants Market size was estimated at 6.31 million Liters. The report covers the Bulgaria Commercial Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Bulgaria Commercial Vehicles Lubricants Market size for years: 2024, 2025 and 2026.
Bulgaria Commercial Vehicles Lubricants Industry Report
Statistics for the 2024 Bulgaria Commercial Vehicles Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Bulgaria Commercial Vehicles Lubricants analysis includes a market forecast outlook to 2026 and historical overview. Get a sample of this industry analysis as a free report PDF download.
