Market Snapshot
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Study Period: | 2015 - 2027 |
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Base Year: | 2021 |
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Largest Share by Product Type: | Engine Oils |
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Largest Share by Region: | Asia-Pacific |
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CAGR: | NaN % |
Market Overview
The Global Commercial Vehicles Lubricants Market stood at 7.48 billion liters in 2022 and is projected to register a CAGR of NaN% to reach NaN liters in 2027.
- Largest Segment by Product Type - Engine Oils : Since it has high-temperature and high-pressure uses, engine oil is the most popular product type in the CV sector, with large volume needs and shorter drain intervals.
- Fastest Segment by Product Type - Hydraulic Fluids : Transmission oil consumption is predicted to be the highest among all product categories in the global CV sector, with the use of LCVs and trucks expected to rise.
- Largest Regional Market - Asia-Pacific : Asia-Pacific is home to countries with large vehicle fleets like China, India, and Japan. As a result, the lubricant consumption by this sector was highest in Asia-Pacific.
- Fastest Growing Regional Market - South America : The low penetration of synthetic lubricants and expected high growth rates of the truck fleet in countries like India are likely to drive lubricant consumption in APAC.
Scope of the Report
| By Product Type | |
| Engine Oils | |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
| By Region | |||||||||||||
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Key Market Trends
Largest Segment By Product Type : Engine Oils
- During 2015-2019, lubricant consumption in the global commercial vehicle sector increased at a CAGR of 2%. Engine oil was the dominating lubricant product type in this sector, accounting for a share of 73% in 2020, followed by transmission oils, which accounted for a share of 11.5%.
- During the COVID-19 outbreak in 2020, freight transportation significantly dropped due to the lockdowns in response to the pandemic. Hence, lubricant consumption in this sector declined by 7.8% compared to 2019.
- The projected boom in logistic requirements and recovery in sales of new commercial vehicles are likely to drive lubricant consumption in this sector. Hence, commercial vehicle lubricant consumption is expected to increase at a CAGR of 3.2% during 2021-2026.
To understand key trends, Download Sample Report
Largest Region : Asia-Pacific
- By geography, lubricant consumption of commercial vehicles (CV) was the highest in Asia-Pacific, at around 41.5% of the total CV lubricant consumption globally, followed by Europe and North America, which accounted for a share of 17.7% and 12.6%, respectively.
- The restrictions imposed on business and transportation activities after the COVID-19 outbreak negatively affected CV lubricant consumption across the region in 2020. North America was the most affected, as it recorded a 12.1% drop in consumption during 2019-2020, followed by Europe, which recorded an 11.8% drop.
- During 2021-2026, Asia-Pacific is likely to be the fastest-growing CV lubricant market as the consumption is likely to increase at a CAGR of 4.38%, followed by Africa and South America, with an expected CAGR of 3.09% and 3.0%, respectively.
To understand geography trends, Download Sample Report
Competitive Landscape
The Global Commercial Vehicles Lubricants Market is fragmented, with the top five companies occupying 36.98%. The major players in this market are BP PLC (Castrol), Chevron Corporation, ExxonMobil Corporation, Royal Dutch Shell PLC and TotalEnergies (sorted alphabetically).
Major Players
*Disclaimer: Major Players are sorted alphabetically
Recent Developments
- January 2022: Effective April 1, ExxonMobil Corporation was organized along three business lines – ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon Solutions.
- October 2021: Valvoline and Cummins extended their long-standing marketing and technology collaboration agreement for another five years. Cummins will endorse and promote Valvoline's Premium Blue engine oil for its heavy-duty diesel engines and generators and will distribute Valvoline products through its global distribution networks.
- September 2021: Shell partnered with ReadyAssist, a Bengaluru-based 24-hour roadside assistance firm, to provide a seamless oil changing service across the country. Customers can get a free lube change for their vehicles when they buy Shell lubricants through ReadyAssist, which will be accessible at up to 5,500 third-party retail outlets across the country.
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
4.2 By Region
4.2.1 Africa
4.2.1.1 Egypt
4.2.1.2 Morocco
4.2.1.3 Nigeria
4.2.1.4 South Africa
4.2.1.5 Rest of Africa
4.2.2 Asia-Pacific
4.2.2.1 China
4.2.2.2 India
4.2.2.3 Indonesia
4.2.2.4 Japan
4.2.2.5 Malaysia
4.2.2.6 Philippines
4.2.2.7 Singapore
4.2.2.8 South Korea
4.2.2.9 Thailand
4.2.2.10 Vietnam
4.2.2.11 Rest of Asia-Pacific
4.2.3 Europe
4.2.3.1 Bulgaria
4.2.3.2 France
4.2.3.3 Germany
4.2.3.4 Italy
4.2.3.5 Norway
4.2.3.6 Poland
4.2.3.7 Russia
4.2.3.8 Spain
4.2.3.9 United Kingdom
4.2.3.10 Rest of Europe
4.2.4 Middle East
4.2.4.1 Iran
4.2.4.2 Qatar
4.2.4.3 Saudi Arabia
4.2.4.4 Turkey
4.2.4.5 UAE
4.2.4.6 Rest of Middle East
4.2.5 North America
4.2.5.1 Canada
4.2.5.2 Mexico
4.2.5.3 United States
4.2.5.4 Rest of North America
4.2.6 South America
4.2.6.1 Argentina
4.2.6.2 Brazil
4.2.6.3 Colombia
4.2.6.4 Rest of South America
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 China National Petroleum Corporation
5.3.4 China Petroleum & Chemical Corporation
5.3.5 ENEOS Corporation
5.3.6 ExxonMobil Corporation
5.3.7 Idemitsu Kosan Co. Ltd
5.3.8 Royal Dutch Shell PLC
5.3.9 TotalEnergies
5.3.10 Valvoline Inc.
6. Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
List of Tables & Figures
Figure 1:
COMMERCIAL VEHICLES POPULATION, NUMBER OF UNITS, GLOBAL, 2015 - 2026
Figure 2:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, BY PRODUCT TYPE, 2015-2026
Figure 3:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 4:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, ENGINE OILS, 2015-2026
Figure 5:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, ENGINE OILS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020
Figure 6:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, GREASES, 2015-2026
Figure 7:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, GREASES, VOLUME SHARE (%), BY VEHICLE TYPE, 2020
Figure 8:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, HYDRAULIC FLUIDS, 2015-2026
Figure 9:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, HYDRAULIC FLUIDS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020
Figure 10:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, TRANSMISSION & GEAR OILS, 2015-2026
Figure 11:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, TRANSMISSION & GEAR OILS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020
Figure 12:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, BY REGION, 2015-2026
Figure 13:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME SHARE (%), BY REGION, 2020
Figure 14:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, AFRICA, BY COUNTRY, 2015-2026
Figure 15:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME SHARE (%), AFRICA, BY COUNTRY, 2020
Figure 16:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, EGYPT, 2015-2026
Figure 17:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, EGYPT, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 18:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, MOROCCO, 2015-2026
Figure 19:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, MOROCCO, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 20:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, NIGERIA, 2015-2026
Figure 21:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, NIGERIA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 22:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, SOUTH AFRICA, 2015-2026
Figure 23:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, SOUTH AFRICA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 24:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, REST OF AFRICA, 2015-2026
Figure 25:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, REST OF AFRICA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 26:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, ASIA-PACIFIC, BY COUNTRY, 2015-2026
Figure 27:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME SHARE (%), ASIA-PACIFIC, BY COUNTRY, 2020
Figure 28:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, CHINA, 2015-2026
Figure 29:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, CHINA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 30:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, INDIA, 2015-2026
Figure 31:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, INDIA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 32:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, INDONESIA, 2015-2026
Figure 33:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, INDONESIA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 34:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, JAPAN, 2015-2026
Figure 35:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, JAPAN, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 36:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, MALAYSIA, 2015-2026
Figure 37:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, MALAYSIA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 38:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, PHILIPPINES, 2015-2026
Figure 39:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, PHILIPPINES, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 40:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, SINGAPORE, 2015-2026
Figure 41:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, SINGAPORE, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 42:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, SOUTH KOREA, 2015-2026
Figure 43:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, SOUTH KOREA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 44:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, THAILAND, 2015-2026
Figure 45:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, THAILAND, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 46:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, VIETNAM, 2015-2026
Figure 47:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VIETNAM, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 48:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, REST OF ASIA-PACIFIC, 2015-2026
Figure 49:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, REST OF ASIA-PACIFIC, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 50:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, EUROPE, BY COUNTRY, 2015-2026
Figure 51:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME SHARE (%), EUROPE, BY COUNTRY, 2020
Figure 52:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, BULGARIA, 2015-2026
Figure 53:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, BULGARIA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 54:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, FRANCE, 2015-2026
Figure 55:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, FRANCE, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 56:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, GERMANY, 2015-2026
Figure 57:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, GERMANY, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 58:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, ITALY, 2015-2026
Figure 59:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, ITALY, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 60:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, NORWAY, 2015-2026
Figure 61:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, NORWAY, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 62:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, POLAND, 2015-2026
Figure 63:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, POLAND, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 64:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, RUSSIA, 2015-2026
Figure 65:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, RUSSIA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 66:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, SPAIN, 2015-2026
Figure 67:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, SPAIN, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 68:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, UNITED KINGDOM, 2015-2026
Figure 69:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, UNITED KINGDOM, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 70:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, REST OF EUROPE, 2015-2026
Figure 71:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, REST OF EUROPE, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 72:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, MIDDLE EAST, BY COUNTRY, 2015-2026
Figure 73:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME SHARE (%), MIDDLE EAST, BY COUNTRY, 2020
Figure 74:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, IRAN, 2015-2026
Figure 75:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, IRAN, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 76:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, QATAR, 2015-2026
Figure 77:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, QATAR, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 78:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, SAUDI ARABIA, 2015-2026
Figure 79:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, SAUDI ARABIA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 80:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, TURKEY, 2015-2026
Figure 81:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, TURKEY, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 82:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, UAE, 2015-2026
Figure 83:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, UAE, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 84:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, REST OF MIDDLE EAST, 2015-2026
Figure 85:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, REST OF MIDDLE EAST, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 86:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, NORTH AMERICA, BY COUNTRY, 2015-2026
Figure 87:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME SHARE (%), NORTH AMERICA, BY COUNTRY, 2020
Figure 88:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, CANADA, 2015-2026
Figure 89:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, CANADA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 90:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, MEXICO, 2015-2026
Figure 91:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, MEXICO, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 92:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, UNITED STATES, 2015-2026
Figure 93:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, UNITED STATES, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 94:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, REST OF NORTH AMERICA, 2015-2026
Figure 95:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, REST OF NORTH AMERICA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 96:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, SOUTH AMERICA, BY COUNTRY, 2015-2026
Figure 97:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME SHARE (%), SOUTH AMERICA, BY COUNTRY, 2020
Figure 98:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, ARGENTINA, 2015-2026
Figure 99:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, ARGENTINA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 100:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, BRAZIL, 2015-2026
Figure 101:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, BRAZIL, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 102:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, COLOMBIA, 2015-2026
Figure 103:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, COLOMBIA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 104:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, REST OF SOUTH AMERICA, 2015-2026
Figure 105:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, REST OF SOUTH AMERICA, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
Figure 106:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
Figure 107:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
Figure 108:
GLOBAL COMMERCIAL VEHICLES LUBRICANTS MARKET SHARE(%), BY MAJOR PLAYERS, 2020
Market Definition
- 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.
Research Methodology
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
