Europe Commercial Vehicles Lubricants Market Trends

Statistics for the 2023 & 2024 Europe Commercial Vehicles Lubricants market trends, created by Mordor Intelligence™ Industry Reports. Europe Commercial Vehicles Lubricants trend report includes a market forecast to 202 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Europe Commercial Vehicles Lubricants Industry

This section covers the major market trends shaping the Europe 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>

  • Lubricant consumption in the European commercial vehicles sector witnessed a significant increase due to the growing commercial vehicle population during 2015-2018. However, in 2019, a decline in the annual vehicle mileage and commercial vehicle production caused a 1.92% drop in lubricant consumption over 2018.
  • Post the COVID-19 outbreak, freight transportation in Europe was negatively affected due to the social restrictions imposed as a response to the pandemic during the first half of 2020. As a result, lubricant consumption in commercial vehicles in the region decreased by 11.82%, compared to 2019.
  • The recovering commercial vehicle sales in Europe are likely to boost lubricant consumption during the forecast period. The expected growth in the penetration of electric vehicles is anticipated to have a slight impact on engine oil consumption during 2021-2026.
Europe Commercial Vehicles Lubricants Market

Largest Country : <span style="font-family: 'regular_bold';color:#0e7db3;">Russia</span>

  • In Europe, the consumption volume of commercial vehicle (CV) lubricants is the highest in Russia, followed by France and Italy. In 2020, Russia accounted for 21.33% of the total consumption of CV lubricants in Europe. The country recorded the highest shares in the consumption of engine oils (23.23%), greases (14.63%), and transmission oils (21.84%).
  • In 2020, France recorded the highest share of 17.62% in hydraulic fluids. However, the COVID-19 outbreak significantly affected vehicle production and sales in the country due to the social restrictions imposed during the year.
  • During the first half of 2021, European countries experienced the second wave of COVID-19, which reduced the pace of the sales recovery. Production was also affected by the semiconductor shortage. However, growth in the automotive sector is likely to improve from 2022, registering a CAGR of 1.68% during 2021-2026.
Europe Commercial Vehicles Lubricants Market

Europe Commercial Vehicle Lubricants Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2026