|Study Period:||2015 - 2026|
|Largest Share by Product Type:||Engine Oils|
|Fastest Growing by Product Type:||Transmission Oils|
The Bulgaria Commercial Vehicles Lubricants Market is at 5.89 million liters in 2021 and is projected to register a CAGR of 3.00% to reach 6.83 million liters in 2026. In 2020, the demand for buses & coaches and heavy trucks for commercial use in the country has declined by about 28% due to the social distancing requirements to curb COVID-19 outbreak.
- 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 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.
Scope of the Report
|By Product Type|
Key Market Trends
Largest Segment By Product Type : Engine Oils
- 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.
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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, Exxon Mobil Corporation, Prista Oil, Royal Dutch Shell and TotalEnergies (sorted alphabetically).
- May 2021: ADDINOL developed ADDINOL Professional 0530 FA-4, which is a high-performance motor oil for commercial vehicles with reduced HTHS viscosity.
- February 2021: Petronas Lubricants International launched a new range of Urania Lubricants for commercial and heavy-duty vehicles, with a new technology called StrongTech. This line of lubricants provides sufficient strength to commercial engines for a long period of time.
- February 2021: MTU Friedrichshafen GmbH, a leading diesel engine maker, approved Rosneft Revolux Premium engine oils for use in commercial vehicles with MTU internal combustion engines.
Table of Contents
1. Executive Summary & Key Findings
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
3.1.1 Commercial Vehicles
3.2 Regulatory Framework
3.3 Value Chain & Distribution Channel Analysis
4. Market Segmentation
4.1 By Product Type
4.1.1 Engine Oils
4.1.3 Hydraulic Fluids
4.1.4 Transmission 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 Exxon Mobil Corporation
5.3.8 Prista Oil
5.3.9 Royal Dutch Shell
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
List of Tables & Figures
COMMERCIAL VEHICLES POPULATION, NUMBER OF UNITS, BULGARIA, 2015 - 2026
BULGARIA COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, BY PRODUCT TYPE, 2015-2026
BULGARIA COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
BULGARIA COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, ENGINE OILS, 2015-2026
BULGARIA COMMERCIAL VEHICLES LUBRICANTS MARKET, ENGINE OILS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020
BULGARIA COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, GREASES, 2015-2026
BULGARIA COMMERCIAL VEHICLES LUBRICANTS MARKET, GREASES, VOLUME SHARE (%), BY VEHICLE TYPE, 2020
BULGARIA COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, HYDRAULIC FLUIDS, 2015-2026
BULGARIA COMMERCIAL VEHICLES LUBRICANTS MARKET, HYDRAULIC FLUIDS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020
BULGARIA COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, TRANSMISSION OILS, 2015-2026
BULGARIA COMMERCIAL VEHICLES LUBRICANTS MARKET, TRANSMISSION OILS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020
BULGARIA COMMERCIAL VEHICLES LUBRICANTS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
BULGARIA COMMERCIAL VEHICLES LUBRICANTS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
BULGARIA COMMERCIAL VEHICLES LUBRICANTS MARKET SHARE(%), BY MAJOR PLAYERS, 2019
- Vehicle Types - Passenger Vehicles, Commercial Vehicles and Motorcycles are the vehicle types considered under the automotive lubricants market.
- Product Types - For the purpose of this study, lubricant products such as engine oils, transmission oils, greases and hydraulic fluids are taken into consideration.
- Service Refill - Service refill is the primary factor considered while accounting the lubricant consumption for each of the vehicle segments, under the study.
- Factory Fill - First lubricant fill-ups for newly produced vehicles are considered.
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
- Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms