United States Commercial Vehicles Lubricants Market - Size, Share, COVID-19 Impact & Forecasts Up To 2026

The United States Commercial Vehicles Lubricants Market is at 434.10 million liters in 2021 and is projected to register a CAGR of 1.66% to reach 471.41 million liters in 2026. Post the COVID-19 outbreak, freight transportation was negatively affected, owing to the social restrictions imposed to curb the spread of the disease during the first half of 2020, which resulted in decreased maintenance requirements for commercial vehicles.

Key Highlights

• Largest Segment by Product Type - Engine Oils: Engine oil is the leading product type due to its high volume requirements and low drain interval. It is used for high-temperature and high-pressure applications.
• Fastest Segment by Product Type - Hydraulic Fluids: Expected growth in commercial vehicle sales and increasing freight transportation activities are projected to drive the demand for hydraulic fluids during the forecast period.

Key Market Trends

Largest Segment By Product Type: Engine Oils

• During 2015-2019, in the United States, commercial automotive lubricant consumption increased, primarily driven by the increased sales of commercial vehicles during this period. Only in 2016, the country had observed a decline in sales, due to weak freight demand. Overall, there was about 17.31% growth in sales over 2015-2019, which notably added to the number of on-road commercial vehicles in the country.
• Post the COVID-19 outbreak, freight transportation was negatively affected, owing to the social restrictions imposed to curb the spread of the disease during the first half of 2020, which resulted in decreased maintenance requirements for commercial vehicles.
• The electric vehicle penetration in the commercial vehicles segment is at its initial stage in the country. As of 2019, 2000 electric trucks were on-road in the country, and the number is projected to rise to 54,000 e-trucks by 2025.

Competitive Landscape

The United States Commercial Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 70.82%. The major players in this market are BP PLC (Castrol), ExxonMobil Corporation, Phillips 66 Lubricants, Royal Dutch Shell Plc and Valvoline Inc. (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support