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

The Italy Commercial Vehicles Lubricants Market is at 117.63 million liters in 2021 and is projected to register a CAGR of 1.64% to reach 127.59 million liters in 2026. The COVID-19 outbreak negatively affected the demand for commercial vehicles in the country, leading to a decline of 15.06% in the sales of commercial vehicles during 2019-2020, in turn affecting the lubricant consumption growth in the country.

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 intervals. It is used for high-temperature and high-pressure applications.
• Fastest Segment by Product Type - Transmission & Gear Oils: In Italy, the increase in the usage and sales of commercial vehicles, post 2020, is likely to drive their demand for transmission oils during the forecast period.

Key Market Trends

Largest Segment By Product Type: Engine Oils

• Post 2016, lubricant consumption for commercial vehicles in Italy has been declining consistently. This trend was primarily due to declining sales and production of commercial vehicles in the country before 2020.
• Post the COVID-19 outbreak, freight transportation in the country was negatively affected due to the social restrictions imposed as a result of the pandemic during the first half of 2020. Consequently, lubricant consumption in commercial vehicles in the country decreased by 8.32%.
• The average age of commercial vehicles in Italy is significantly higher compared to vehicles in other European countries. Hence, the growing need to phase out older vehicles and the increasing demand for synthetic lubricants are expected to drive the CV lubricants market at a moderate CAGR of 1.64% between 2021-2026.

Competitive Landscape

The Italy Commercial Vehicles Lubricants Market is moderately consolidated, with the top five companies occupying 58.79%. The major players in this market are BP PLC (Castrol), Eni SpA, PETRONAS Lubricants International, Q8Oils and Royal Dutch Shell Plc (sorted alphabetically).

Additional Benefits:

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