Russia Lubricants Market - Size, Share, COVID-19 Impact & Forecasts Up To 2026

The Russia Lubricants Market stood at 1.19 billion liters in 2021 and is projected to register a CAGR of 2.32% to reach 1.34 billion liters in 2026.

Key Highlights

• Largest Segment by End-user Industry - Automotive: Due to the huge volume of engine and gear oils used in motor vehicles compared to any other industrial application, automotive was the largest end user among all categories.
• Fastest Segment by End-user Industry - Heavy Equipment: Due to the increasing use of machinery in sectors, like mining, construction, and agriculture, heavy equipment is the fastest-growing end user of lubricants in the country.
• Largest Segment by Product Type - Engine Oils: Engine oil is the most consumed product type in Russia, owing to the high volume of engine oil and the high replacement frequency required to lubricate IC engines.
• Fastest Segment by Product Type - Transmission & Gear Oils: Transmission and gear oils are expected to grow faster than any other product segment due to an expected rise in the use of automatic cars and industrial rebounds.

Key Market Trends

Largest Segment By End User: Automotive

• In 2020, the automotive industry dominated the Russian lubricants market, accounting for over 45% of the total lubricant consumption in the country. During 2015-2019, lubricant consumption in the automotive sector witnessed a gradual growth.
• In 2020, COVID-19-related restrictions led to a decline in the maintenance requirements from several industries. The major impact was observed in the automotive industry, which recorded a dip of 15.7% during the year, followed by heavy equipment (11.4%).
• Heavy equipment is likely to be the fastest-growing end-user industry of the Russian lubricants market during 2021-2026, with a CAGR of 2.94%, followed by automotive (2.31%). The expected recovery in investments and completion of construction and mining projects, along with the projected rise in commercial vehicle sales, are likely to drive the market growth.

Competitive Landscape

The Russia Lubricants Market is fairly consolidated, with the top five companies occupying 73.51%. The major players in this market are DelfinGroup, Gazprom, Lukoil, Rosneft and Royal Dutch Shell Plc (sorted alphabetically).

Additional Benefits:

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