Philippines Commercial Vehicles Lubricants Market Analysis by Mordor Intelligence
The Philippines Commercial Vehicles Lubricants Market size is estimated at 80.16 million liters in 2025, and is expected to reach 92.25 million liters by 2030, at a CAGR of 2.85% during the forecast period (2025-2030).
- Largest Segment by Product Type - Engine Oils : Engine oil is the leading product type due to its higher volume requirements and shorter drain intervals, as compared to other lubricants across all vehicle types.
- Fastest Segment by Product Type - Transmission & Gear Oils : The demand for hydraulic fluids may be driven by the expected growth in commercial vehicle sales and increased freight transportation operations during the forecast period.
Philippines Commercial Vehicles Lubricants Market Trends and Insights
Largest Segment By Product Type : Engine Oils
- In the Philippines, commercial vehicles (CVs) formed the largest segment and accounted for about 76% of the overall lubricant consumption in 2015. During 2015-2019, lubricant consumption recorded a CAGR of 2.06% in the CV segment. The growth was majorly driven by the rise in on-road CVs and average distance traveled per year.
- Engine oil was the dominant product type in the market and accounted for a 74% share in CV lubricant consumption in 2020. In the same year, lubricant consumption of commercial vehicles declined by 10.1% due to the impact of COVID-19 on vehicle activities and sales. A major decline of 11% was also observed in the consumption of greases in the CV segment during the year.
- During 2021-26, the transmission oils segment is likely to be the fastest-growing segment, with a CAGR of 3.05%. The recovery in usage and sales of commercial vehicles is likely to drive the consumption of transmission oils over the forecast period.
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Competitive Landscape
The Philippines Commercial Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 80.55%. The major players in this market are BP Plc (Castrol), Chevron Corporation, Petron Corporation, Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).
Philippines Commercial Vehicles Lubricants Industry Leaders
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BP Plc (Castrol)
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Chevron Corporation
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Petron Corporation
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Royal Dutch Shell Plc
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TotalEnergies
- *Disclaimer: Major Players sorted in no particular order
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Recent Industry 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.
- June 2021: Pilipinas Shell Petroleum Corp. extended its partnership with Isuzu Philippines Corp. till 2023. In this partnership, Shell has to supply its lubricants, fuels, and other products to Isuzu for two years.
- March 2021: Castrol announced the launch of Castrol ON (a Castrol e-fluid range that includes e-gear oils, e-coolants, and e-greases) to its product portfolio. This range is specially designed for electric vehicles.
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Philippines Commercial Vehicles Lubricants Market Report Scope
By Product Type
| Engine Oils |
| Greases |
| Hydraulic Fluids |
| Transmission & Gear Oils |
| By Product Type | Engine Oils |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
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Key Questions Answered in the Report
How big is the Philippines Commercial Vehicles Lubricants Market?
The Philippines Commercial Vehicles Lubricants Market size is expected to reach 80.16 million Liters in 2025 and grow at a CAGR of 2.85% to reach 92.25 million Liters by 2030.
What is the current Philippines Commercial Vehicles Lubricants Market size?
In 2025, the Philippines Commercial Vehicles Lubricants Market size is expected to reach 80.16 million Liters.
Who are the key players in Philippines Commercial Vehicles Lubricants Market?
BP Plc (Castrol), Chevron Corporation, Petron Corporation, Royal Dutch Shell Plc and TotalEnergies are the major companies operating in the Philippines Commercial Vehicles Lubricants Market.
What years does this Philippines Commercial Vehicles Lubricants Market cover, and what was the market size in 2024?
In 2024, the Philippines Commercial Vehicles Lubricants Market size was estimated at 77.88 million Liters. The report covers the Philippines Commercial Vehicles Lubricants Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Philippines Commercial Vehicles Lubricants Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Philippines Commercial Vehicles Lubricants Market Report
Statistics for the 2025 Philippines Commercial Vehicles Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Philippines Commercial Vehicles Lubricants analysis includes a market forecast outlook for 2025 to 2030) and historical overview. Get a sample of this industry analysis as a free report PDF download.
