The Qatar Commercial Vehicles Lubricants Market stood at 17.71 million liters in 2021 and is projected to register a CAGR of 1.98% to reach 19.53 million liters in 2026.
Key Highlights
- Largest Segment by Product Type - Engine Oils: Engine oil is the leading product type due to its high volume requirements and shorter drain intervals, as it is used in high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Greases: In Qatar, the predicted rebound in commercial vehicle imports and sales beginning in 2021 is expected to increase the consumption of greases during the next few years.
Key Market Trends
Largest Segment By Product Type: Engine Oils
- In Qatar, commercial vehicles (CVs) forms the second-largest vehicle type in terms of automotive lubricant consumption. During 2015-2019, lubricant consumption in the CV sector has been fluctuating. This can be attributed to the growing vehicle fleet along with expanding service intervals for engine oils and transmission oils.
- The commercial vehicle lubricant consumption declined by almost 8.3% as COVID-19 affected the freight transportation in 2020. The engine oil segment accounted for around 78% share in CV lubricant consumption in 2020. A major decline of 9.5% was observed in the consumption of greases in CV segment during the year.
- The grease segment is likely to be the fastest-growing segment with a CAGR of 5.19% during 2021-2026. The recovery in production and sales of commercial vehicles is likely to drive the consumption of greases in the short term.
Competitive Landscape
The Qatar Commercial Vehicles Lubricants Market is moderately consolidated, with the top five companies occupying 47.14%. The major players in this market are ExxonMobil Corporation, Qatar Lubricants Company (QALCO), Royal Dutch Shell PLC, TotalEnergies and Valvoline Inc. (sorted alphabetically).Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Table of Contents
1 Executive Summary & Key Findings7 Key Strategic Questions for Lubricants CEOs
2 Introduction
3 Key Industry Trends
4 Market Segmentation
5 Competitive Landscape
6 Appendix
Companies Mentioned
A selection of companies mentioned in this report includes:
- BP PLC (Castrol)
- Chevron Corporation
- ENEOS Corporation
- ExxonMobil Corporation
- Gulf Continental Oil and Grease Factory (GulfCon)
- Indian Oil Corporation Limited
- Qatar Lubricants Company (QALCO)
- Royal Dutch Shell PLC
- TotalEnergies
- Valvoline Inc.
Methodology
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