Market Trends of France Commercial Vehicles Lubricants Industry
This section covers the major market trends shaping the France 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>
- After gradual growth during 2015-2017, the consumption of lubricants for commercial vehicles in France has been reducing since 2018 due to the continuously declining average annual mileage of commercial vehicles.
- Post the COVID-19 outbreak, freight transportation in the country has been negatively affected due to the social restrictions imposed due to the pandemic during the first half of 2020. As a result, lubricant consumption in commercial vehicles in the country decreased by 14.12% due to delayed maintenance requirements.
- The recovering commercial vehicle sales in the country are likely to boost lubricant consumption in the coming years. However, the expected growth in the penetration of electric vehicles is anticipated to reduce engine oil consumption. Thus, commercial vehicle lubricant consumption is expected to increase, recording a CAGR of 1.85% during 2021-2026.
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