Market Trends of Russia Automotive Lubricants Industry
This section covers the major market trends shaping the Russia Automotive Lubricants Market according to our research experts:
Largest Segment By Vehicle Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Commercial Vehicles</span>
- In Russia, passenger vehicles accounted for a share of 80.95% in the total number of on-road vehicles in 2020, followed by commercial vehicles and motorcycles, with 15.04% and 4.01% shares, respectively.
- In 2020, the commercial vehicles (CVs) segment accounted for the highest share of 50.58% in terms of lubricant consumption. During the year, freight transportation was affected by the social restrictions imposed to curb the spread of COVID-19, leading to a dip of about 12.97% in lubricant consumption in Russia’s largest vehicles segment.
- Among all vehicle types, the passenger vehicles segment is likely to be the fastest-growing segment at a CAGR of 3.99%, in terms of lubricant consumption, during 2021-2026. This growth is likely to be majorly driven by the increase in the average distance traveled per year and the expected recovery in Russia’s passenger vehicle sales in the coming years.
Understand The Key Trends Shaping This Market
Download Sample
