Saudi Arabia Commercial Vehicles Lubricants Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2026

The Saudi Arabia Commercial Vehicles Lubricants Market is segmented by Product Type ( Engine Oils, Greases, Hydraulic Fluids, Transmission & Gear Oils )

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Saudi Arabia Commercial Vehicles Lubricants Market Size

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https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2015 - 2026
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR 1.56 %
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Concentration High
https://s3.mordorintelligence.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.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Concentration High

Major Players
major-player-company-image major-player-company-image major-player-company-image major-player-company-image

*Disclaimer: Major Players sorted in no particular order

Key Players

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Saudi Arabia Commercial Vehicles Lubricants Market Analysis

The Saudi Arabia Commercial Vehicles Lubricants Market stood at 178.19 million liters in 2021 and is projected to register a CAGR of 1.56% to reach 192.55 million liters in 2026.

  • Largest Segment by Product Type - Engine Oils : In the commercial vehicles segment, engine oils hold the dominating share owing to the high average volume needs of the existing fleet and the presence of older trucks.
  • Fastest Segment by Product Type - Transmission Oils : The expected recovery in commercial vehicle (truck and buses) sales in Saudi Arabia from 2021 is likely to drive the demand for transmission oils during the coming years.

Saudi Arabia Commercial Vehicles Lubricants Market Trends

This section covers the major market trends shaping the Saudi Arabia Commercial Vehicles Lubricants Market according to our research experts:

Largest Segment By Product Type : Engine Oils

  • In Saudi Arabia, commercial vehicles (CVs) account for around 48% of lubricants consumption, among all vehicle types. During 2015-2019, lubricant consumption grew at a CAGR of 2.7% in the CV segment. The growth was majorly driven by the growing freight ransportation in the country.
  • In 2020, commercial vehicle lubricant consumption declined by 7.3% as COVID-19 affected the freight transportation. The engine oil segment accounted for around 87% share in CV lubricant consumption in 2020. A major decline of 8.95% was observed in the consumption of greases in CV segment during the year.
  • During 2021-2026, the transmission oils segment is likely to be the fastest-growing segment with a CAGR of 3.71%. The recovery in production and sales of commercial vehicles is likely to drive the consumption of transmission oils over the next five years
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Saudi Arabia Commercial Vehicles Lubricants Industry Overview

The Saudi Arabia Commercial Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 79.47%. The major players in this market are BP PLC (Castrol), ExxonMobil Corporation, FUCHS, Petromin Corporation and Royal Dutch Shell PLC (sorted alphabetically).

Saudi Arabia Commercial Vehicles Lubricants Market Leaders

  1. BP PLC (Castrol)

  2. ExxonMobil Corporation

  3. FUCHS

  4. Petromin Corporation

  5. Royal Dutch Shell PLC

*Disclaimer: Major Players sorted in no particular order

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Saudi Arabia Commercial Vehicles Lubricants Market News

  • January 2022: Effective April 1, ExxonMobil Corporation was organized along three business lines – ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon Solutions.
  • 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.
  • March 2021: Hyundai Motor Company and Royal Dutch Shell PLC announced a five-year global business cooperation agreement, with a new focus on clean energy and carbon reduction, to help Hyundai continue its transformation as a Smart Mobility Solution Provider.

Saudi Arabia Commercial Vehicles Lubricants Market Report - 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

    2. 3.2. Regulatory Framework

    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 & Gear 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. BP PLC (Castrol)

      2. 5.3.2. CHEVRON CORPORATION

      3. 5.3.3. Eni SpA

      4. 5.3.4. ExxonMobil Corporation

      5. 5.3.5. FUCHS

      6. 5.3.6. GS Caltex

      7. 5.3.7. Liqui Moly

      8. 5.3.8. Petromin Corporation

      9. 5.3.9. Royal Dutch Shell PLC

      10. 5.3.10. TotalEnergies

  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

  1. Figure 1:  
  2. COMMERCIAL VEHICLES POPULATION, NUMBER OF UNITS, SAUDI ARABIA, 2015 - 2026
  1. Figure 2:  
  2. SAUDI ARABIA COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, BY PRODUCT TYPE, 2015-2026
  1. Figure 3:  
  2. SAUDI ARABIA COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME SHARE (%), BY PRODUCT TYPE, 2020
  1. Figure 4:  
  2. SAUDI ARABIA COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, ENGINE OILS, 2015-2026
  1. Figure 5:  
  2. SAUDI ARABIA COMMERCIAL VEHICLES LUBRICANTS MARKET, ENGINE OILS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020
  1. Figure 6:  
  2. SAUDI ARABIA COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, GREASES, 2015-2026
  1. Figure 7:  
  2. SAUDI ARABIA COMMERCIAL VEHICLES LUBRICANTS MARKET, GREASES, VOLUME SHARE (%), BY VEHICLE TYPE, 2020
  1. Figure 8:  
  2. SAUDI ARABIA COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, HYDRAULIC FLUIDS, 2015-2026
  1. Figure 9:  
  2. SAUDI ARABIA COMMERCIAL VEHICLES LUBRICANTS MARKET, HYDRAULIC FLUIDS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020
  1. Figure 10:  
  2. SAUDI ARABIA COMMERCIAL VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, TRANSMISSION & GEAR OILS, 2015-2026
  1. Figure 11:  
  2. SAUDI ARABIA COMMERCIAL VEHICLES LUBRICANTS MARKET, TRANSMISSION & GEAR OILS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020
  1. Figure 12:  
  2. SAUDI ARABIA COMMERCIAL VEHICLES LUBRICANTS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
  1. Figure 13:  
  2. SAUDI ARABIA COMMERCIAL VEHICLES LUBRICANTS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
  1. Figure 14:  
  2. SAUDI ARABIA COMMERCIAL VEHICLES LUBRICANTS MARKET SHARE(%), BY MAJOR PLAYERS, 2020

Saudi Arabia Commercial Vehicles Lubricants Industry Segmentation

By Product Type
Engine Oils
Greases
Hydraulic Fluids
Transmission & Gear Oils

Report scope can be customized per your requirements. Click here.

Market Definition

  • Vehicle Types - Commercial Vehicles are considered under the commercial vehicle lubricants market.
  • Product Types - For the purpose of this study, lubricant products such as engine oils, transmission & gear oils, hydraulic fluids and greases are taken into consideration.
  • Service Refill - Service/maintenance refill is considered while accounting the lubricant consumption for commercial vehicles, under the study.
  • Factory Fill - First lubricant fill-ups for newly produced commercial vehicles are considered under the study.

For any queries related to market definition, click here to schedule a call with our analysts.

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

For any queries related to research methodology, click here to schedule a call with our analysts.

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Saudi Arabia Commercial Vehicles Lubricants Market Research FAQs

The Saudi Arabia Commercial Vehicles Lubricants Market size accounted for 178.19 million liters in 2021 and grow at a CAGR of 1.56% to reach 192.55 million liters by 2026.

In 2021, the Saudi Arabia Commercial Vehicles Lubricants Market size accounted for 178.19 million liters.

BP PLC (Castrol), ExxonMobil Corporation, FUCHS, Petromin Corporation and Royal Dutch Shell PLC are the major companies operating in the Saudi Arabia Commercial Vehicles Lubricants Market.

In the Saudi Arabia Commercial Vehicles Lubricants Market, the Engine Oils segment accounts for the largest share by product type.

In 2023, the Transmission Oils segment accounts for the fastest growing by product type in the Saudi Arabia Commercial Vehicles Lubricants Market.

Saudi Arabia Commercial Vehicles Lubricants Industry Report

Statistics for the 2023 Saudi Arabia Commercial Vehicles Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Saudi Arabia Commercial Vehicles Lubricants analysis includes a market forecast outlook to 2026 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Saudi Arabia Commercial Vehicles Lubricants Report Snapshots