Canada Automotive Engine Oils Market - Size, Share, Covid-19 Impact & Forecasts Up To 2026

Canada Automotive Engine Oils Market - Size, Share, Covid-19 Impact & Forecasts Up To 2026

The Canada Automotive Engine Oils Market is at 297.16 million liters in 2021 and is projected to register a CAGR of 2.19% to reach 331.08 million liters in 2026. In 2020, post the COVID-19 outbreak, sales of off-road and dual-sport bikes significantly increased, and they are likely to grow at a decent rate during the forecast period.

Key Highlights

• Largest Segment by Vehicle Type - Commercial Vehicles : The average engine oil capacity of heavy-duty trucks and buses was high, attributed to the highest consumption of engine oil from the commercial vehicle sector in Canada.
• Fastest Segment by Vehicle Type - Passenger Vehicles : As lockdown measures and social restrictions are slowly being eased in the country, the usage of passenger vehicles is likely to increase and boost engine oil consumption.

Key Market TrendsLargest Segment By Vehicle Type : Commercial Vehicles

• 0Ws and 5Ws were the most used engine oil grades for passenger vehicles in Canada. Similarly, 15Ws were the most used engine oil grades for commercial vehicles in Canada.
• Most of the engine oils used in Canada meet the latest standards set by the International Lubricant Specification Advisory Committee (ILSAC) and the American Petroleum Institute (API). Although these synthetic grades have higher profit margins per gallon, they also support higher drain intervals. Hence, the higher penetration of synthetic engine oils significantly restrained the growth of this product type, in terms of volume, during 2015-2020.
• Post the COVID-19 outbreak, the engine oil change requirements of vehicles further declined. The usage of the existing automotive fleet is gradually boosting the engine oil volume consumption, which is likely to recover at a rate of 2.19% during the forecast period.

Competitive Landscape

The Canada Automotive Engine Oils Market is fairly consolidated, with the top five companies occupying 82.72%. 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

Companies Mentioned
 
Boss Lubricants
BP PLC (Castrol)
Chevron Corporation
ExxonMobil Corporation
FUCHS
HollyFrontier (Petro‑Canada lubricants)
Phillips 66 Lubricants
Royal Dutch Shell Plc
TotalEnergies
Valvoline Inc.

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