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

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  • 95 Pages
  • September 2022
  • Region: Europe
  • Mordor Intelligence
  • ID: 5419867
The Europe Commercial Vehicles Lubricants Market is at 1.29 billion liters in 2021 and is projected to register a CAGR of 1.68% to reach 1.40 billion liters in 2026. Post the COVID-19 outbreak, freight transportation in Europe was negatively affected due to the social restrictions imposed as a response to the pandemic during the first half of 2020. As a result, lubricant consumption in commercial vehicles in the country decreased by over 11% in terms of volume, compared to 2019.

Key Highlights

  • Largest Segment by Product Type - Engine Oils: Engine oil is the leading product type due to its shorter drain interval than other product types and application needs in high-temperature and pressure conditions.
  • Fastest Segment by Product Type - Transmission & Gear Oils: The increasing usage, production, and sales of commercial vehicles in Europe from 2021 are expected to drive the demand for transmission oils in the coming years.
  • Largest Country Market - Russia: Russia is the largest commercial vehicle lubricants market in Europe due to the large population of old and new commercial trucks, along with high average engine oil volumes.
  • Fastest Growing Country Market - Bulgaria: In Bulgaria, sales growth of new and used passenger vehicles, supported by increasing travel rates, is projected to increase the demand for lubricants at a healthy rate.

Key Market Trends

Largest Segment By Product Type: Engine Oils

  • Lubricant consumption in the European commercial vehicles sector witnessed a significant increase due to the growing commercial vehicle population during 2015-2018. However, in 2019, a decline in the annual vehicle mileage and commercial vehicle production caused a 1.92% drop in lubricant consumption over 2018.
  • Post the COVID-19 outbreak, freight transportation in Europe was negatively affected due to the social restrictions imposed as a response to the pandemic during the first half of 2020. As a result, lubricant consumption in commercial vehicles in the region decreased by 11.82%, compared to 2019.
  • The recovering commercial vehicle sales in Europe are likely to boost lubricant consumption during the forecast period. The expected growth in the penetration of electric vehicles is anticipated to have a slight impact on engine oil consumption during 2021-2026.

Largest Country: Russia

  • In Europe, the consumption volume of commercial vehicle (CV) lubricants is the highest in Russia, followed by France and Italy. In 2020, Russia accounted for 21.33% of the total consumption of CV lubricants in Europe. The country recorded the highest shares in the consumption of engine oils (23.23%), greases (14.63%), and transmission oils (21.84%).
  • In 2020, France recorded the highest share of 17.62% in hydraulic fluids. However, the COVID-19 outbreak significantly affected vehicle production and sales in the country due to the social restrictions imposed during the year.
  • During the first half of 2021, European countries experienced the second wave of COVID-19, which reduced the pace of the sales recovery. Production was also affected by the semiconductor shortage. However, growth in the automotive sector is likely to improve from 2022, registering a CAGR of 1.68% during 2021-2026.

Competitive Landscape

The Europe Commercial Vehicles Lubricants Market is moderately consolidated, with the top five companies occupying 45.27%. The major players in this market are BP PLC (Castrol), ExxonMobil Corporation, LUKOIL, Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).

Additional Benefits:

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

Table of Contents

1 Executive Summary & Key Findings
2 Introduction
2.1 Study Assumptions & Market Definition
2.2 Scope of the Study?
2.3 Research Methodology
3 Key Industry Trends
3.1 Automotive Industry Trends
3.2 Regulatory Framework
3.3 Value Chain & Distribution Channel Analysis
4 Market Segmentation
4.1 By Product Type
4.1.1 Engine Oils
4.1.2 Greases
4.1.3 Hydraulic Fluids
4.1.4 Transmission & Gear Oils
4.2 By Country
4.2.1 Bulgaria
4.2.2 France
4.2.3 Germany
4.2.4 Italy
4.2.5 Norway
4.2.6 Poland
4.2.7 Russia
4.2.8 Spain
4.2.9 United Kingdom
4.2.10 Rest of Europe
5 Competitive Landscape
5.1 Key Strategic Moves
5.2 Market Share Analysis
5.3 Company Profiles
5.3.1 BP PLC (Castrol)
5.3.3 Eni SpA
5.3.4 ExxonMobil Corporation
5.3.5 FUCHS
5.3.6 Gazprom
5.3.7 LUKOIL
5.3.8 Repsol
5.3.9 Royal Dutch Shell Plc
5.3.10 TotalEnergies
6 Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7 Key Strategic Questions for Lubricants CEOs

Companies Mentioned

A selection of companies mentioned in this report includes:

  • BP PLC (Castrol)
  • Eni SpA
  • ExxonMobil Corporation
  • Gazprom
  • Repsol
  • Royal Dutch Shell Plc
  • TotalEnergies