Canada Passenger Vehicles Lubricants Market - Size, Share, COVID-19 Impact & Forecasts Up To 2026

The Canada Passenger Vehicles Lubricants Market is at 147.02 million liters in 2021 and is projected to register a CAGR of 2.96% to reach 170.13 million liters in 2026. Post the COVID-19 outbreak, there has been a major decline in the usage of personal vehicles for commuting. Moreover, maintenance activities of passenger vehicles have significantly declined.

Key Highlights

• Largest Segment by Product Type - Engine Oils: Engine oil is the leading product type due to its high volume requirements and short drain intervals. Also, it is used in high-temperature and high-pressure applications.
• Fastest Segment by Product Type - Engine Oils: The growth in passenger vehicle sales in the country, post the economic recovery from the COVID-19 impact, is likely to drive the demand for hydraulic fluids during 2021-2026.

Key Market Trends

Largest Segment By Product Type: Engine Oils

• The passenger vehicle lubricant consumption in Canada increased during 2015-2018. However, the Y-o-Y growth rates during this period were fluctuating, owing to the changing passenger vehicle production outputs. The consumption dropped by around 2.17% during 2018-2019, caused by the increased penetration of synthetic lubricants with longer drain intervals. Additionally, there was an estimated decline of 2.54% in the average annual mileage of passenger vehicles in the country during this period.
• Post the COVID-19 outbreak, there has been a major decline in the usage of personal vehicles for commuting. Moreover, maintenance activities of passenger vehicles have significantly declined.
• With the lockdown measures being slowly eased, there has been a surge in the usage of personal vehicles, which may drive the recovery of passenger vehicle lubricant consumption.

Competitive Landscape

The Canada Passenger Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 95.51%. The major players in this market are BP PLC (Castrol), ExxonMobil Corporation, HollyFrontier (Petro‑Canada 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