Mexico Commercial Vehicles Lubricants Market - Size, Share, Forecast & Covid-19 Impact (2015 - 2026)

The Mexico Commercial Vehicles Lubricants Market is segmented by Product Type ( Engine Oils, Greases, Hydraulic Fluids, Transmission Oils )

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Market Snapshot

https://s3.mordorlabs.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period: 2015 - 2026
https://s3.mordorlabs.com/base%20year/1629296433432_test~base_year_base_year.svg Base Year: 2020
https://s3.mordorlabs.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Product Type: Engine Oils
https://s3.mordorlabs.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Fastest Growing by Product Type: Transmission Oils
https://s3.mordorlabs.com/cagr/1629296433433_test~cagr_cagr.svg CAGR: 2.27 %

Key Players

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Market Overview

The Mexico Commercial Vehicles Lubricants Market is at 174.90 million liters in 2021 and is projected to register a CAGR of 2.27% to reach 195.67 million liters in 2026. In 2020, sales of commercial vehicles were affected due to the COVID-19 outbreak, primarily due to reduced demand for heavy trucks from the manufacturing sector and the logistics segment. This factor resulted in a significant dip of 46.2% in the wholesale sales of heavy trucks in Mexico during the first 10 months of 2020, compared to the same period in 2019.

  • Largest Segment by Product Type - Engine Oils : Engine oils form the leading product type, owing to their high volume requirements and low drain interval. They are used for high-temperature and high-pressure applications.
  • Fastest Segment by Product Type - Transmission Oils : The expected recovery of commercial vehicle sales and production in the country from 2021 is likely to drive the demand for transmission oils during the forecast period.

Scope of the Report

By Product Type
Engine Oils
Greases
Hydraulic Fluids
Transmission Oils

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Key Market Trends

Largest Segment By Product Type : Engine Oils

  • During 2015-2019, the commercial vehicle lubricant consumption in Mexico witnessed a gradual increase, followed by a period of decline.
  • The high average age of heavy-duty commercial trucks and significant usage of older lubricant specifications were the major factors driving the country's lubricant consumption levels. During 2015-2019, commercial vehicle production in Mexico witnessed uneven growth rates, thus, leading to a volatile trend in commercial lubricant consumption.
  • During 2019-2020, the consumption dropped suddenly, owing to decreased freight transportation post the COVID-19 outbreak. The sales of commercial vans and tractors in Mexico are likely to recover significantly during 2021, thereby supporting the commercial lubricant consumption with a CAGR of 2.27% during the forecast period.

Competitive Landscape

The Mexico Commercial Vehicles Lubricants Market is moderately consolidated, with the top five companies occupying 61.80%. The major players in this market are Bardahl, BP PLC (Castrol), ExxonMobil Corporation, Roshfrans and Royal Dutch Shell Plc (sorted alphabetically).

Major Players

*Disclaimer: Major Players are sorted alphabetically

Recent Developments

  • February 2021: The company launched new Engine Oils for older cars (classic), which meet the specific additive requirements of classic vehicles for handling engine tolerance and keeping high-mileage vehicles running perfectly.
  • October 2020: Shell added e-transmission fluids, e-greases, and battery thermal fluids to its Shell E-Fluids fluids range for commercial vehicles to cater to the emerging electric vehicle segment.
  • September 2020: Phillips 66 launched a new product, Triton Euro 10W-40, in 2020. It finds applications in on- and off-highway diesel equipment, trucks, and buses.

Table of Contents

  1. 1. Executive Summary & Key Findings

  2. 2. Introduction

    1. 2.1 Study Assumptions & Market Definition

    2. 2.2 Scope of the Study​

    3. 2.3 Research Methodology

  3. 3. Key Industry Trends

    1. 3.1 Automotive Industry Trends

      1. 3.1.1 Commercial Vehicles

    2. 3.2 Regulatory Framework

      1. 3.2.1 Mexico

    3. 3.3 Value Chain & Distribution Channel Analysis

  4. 4. Market Segmentation

    1. 4.1 By Product Type

      1. 4.1.1 Engine Oils

      2. 4.1.2 Greases

      3. 4.1.3 Hydraulic Fluids

      4. 4.1.4 Transmission Oils

  5. 5. Competitive Landscape

    1. 5.1 Key Strategic Moves

    2. 5.2 Market Share Analysis

    3. 5.3 Company Profiles

      1. 5.3.1 Bardahl

      2. 5.3.2 BP PLC (Castrol)

      3. 5.3.3 Chevron Corporation

      4. 5.3.4 ExxonMobil Corporation

      5. 5.3.5 Mexicana de Lubricantes S.A. de C.V.

      6. 5.3.6 Raloy

      7. 5.3.7 Roshfrans

      8. 5.3.8 Royal Dutch Shell Plc

      9. 5.3.9 TotalEnergies

      10. 5.3.10 Valvoline Inc.

  6. 6. Appendix

    1. 6.1 Appendix-1 References

    2. 6.2 Appendix-2 List of Tables & Figures

  7. 7. Key Strategic Questions for Lubricants CEOs

List of Tables & Figures

    Figure 1:  

    COMMERCIAL VEHICLES POPULATION, NUMBER OF UNITS, MEXICO, 2015 - 2026

    Figure 2:  

    MEXICO COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, BY PRODUCT TYPE, 2015-2026

    Figure 3:  

    MEXICO COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 4:  

    MEXICO COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, ENGINE OILS, 2015-2026

    Figure 5:  

    MEXICO COMMERCIAL VEHICLES LUBRICANTS MARKET, ENGINE OILS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

    Figure 6:  

    MEXICO COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, GREASES, 2015-2026

    Figure 7:  

    MEXICO COMMERCIAL VEHICLES LUBRICANTS MARKET, GREASES, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

    Figure 8:  

    MEXICO COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, HYDRAULIC FLUIDS, 2015-2026

    Figure 9:  

    MEXICO COMMERCIAL VEHICLES LUBRICANTS MARKET, HYDRAULIC FLUIDS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

    Figure 10:  

    MEXICO COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, TRANSMISSION OILS, 2015-2026

    Figure 11:  

    MEXICO COMMERCIAL VEHICLES LUBRICANTS MARKET, TRANSMISSION OILS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

    Figure 12:  

    MEXICO COMMERCIAL VEHICLES LUBRICANTS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021

    Figure 13:  

    MEXICO COMMERCIAL VEHICLES LUBRICANTS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021

    Figure 14:  

    MEXICO COMMERCIAL VEHICLES LUBRICANTS MARKET SHARE(%), BY MAJOR PLAYERS, 2019

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.

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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

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Frequently Asked Questions

The Mexico Commercial Vehicles Lubricants Market market is studied from 2015 - 2026.

The Mexico Commercial Vehicles Lubricants Market is at 174.90 million liters in 2021 and is projected to register a CAGR of 2.27% to reach 195.67 million liters in 2026. In 2020, sales of commercial vehicles were affected due to the COVID-19 outbreak, primarily due to reduced demand for heavy trucks from the manufacturing sector and the logistics segment. This factor resulted in a significant dip of 46.2% in the wholesale sales of heavy trucks in Mexico during the first 10 months of 2020, compared to the same period in 2019.

Engine oils form the leading product type, owing to their high volume requirements and low drain interval. They are used for high-temperature and high-pressure applications.

The expected recovery of commercial vehicle sales and production in the country from 2021 is likely to drive the demand for transmission oils during the forecast period.

Bardahl,BP PLC (Castrol),ExxonMobil Corporation,Roshfrans and Royal Dutch Shell Plc. are the major companies operating in Mexico Commercial Vehicles Lubricants Market.