Canada Automotive Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2015 - 2026
The Canada Automotive Lubricants Market size is estimated at 450.69 Million Liters in 2024, and is expected to reach 455.98 Million Liters by 2026, growing at a CAGR of 0.59% during the forecast period (2024-2026).
Key Highlights
- Largest Segment by Vehicle Type - Commercial Vehicles : High vehicle population of Class 7-8 trucks with diesel engines that have high lubricant consumption capacities has resulted in the high market share of commercial vehicles
- Fastest Segment by Vehicle Type - Passenger Vehicles : As the social distancing measures are being slowly eased in the country the usage of Passenger Vehicles is likely to increase and thereby boost their lubricant consumption
- Largest Segment by Product Type - Engine Oils : Engine oil is the leading product type owing to its high volume requirements and low drain interval, as it is used for high temperature and high-pressure applications.
- Fastest Segment by Product Type - Hydraulic Fluids : The expected recovery of automotive sales in the country and the increasing usage of the existing vehicle fleet may drive the demand for hydraulic fluids in the future.
Canada Automotive Lubricants Market Trends
Largest Segment By Vehicle Type : Commercial Vehicles
- In Canada, commercial vehicles were the leading vehicle type, in terms of total lubricant volume consumed during 2015-2020. Commercial vehicles accounted for around 63.1% of the total lubricant volume consumption during this period. The high usage of class 7 and class 8 trucks with diesel engines that have high lubricant consumption requirements was the key reason for the commercial vehicle type to lead in lubricant consumption.
- During the forecast period, the passenger vehicle segment is likely to be the fastest-growing vehicle segment, and it is projected to record a CAGR of 2.96%. The growing passenger vehicle sales in 2021 due to the pent-up demand during 2020 and the expected production capacity additions by major brands, like Ford, GM, and FCA, are likely to be the key driving factors for the growth of lubricant consumption in the passenger vehicle segment.
Canada Automotive Lubricants Industry Overview
The Canada Automotive Lubricants Market is fairly consolidated, with the top five companies occupying 82.33%. The major players in this market are BP PLC (Castrol), ExxonMobil Corporation, HollyFrontier (PetroCanada 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
- 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 Vehicle Type
- 4.1.1 Commercial Vehicles
- 4.1.2 Motorcycles
- 4.1.3 Passenger Vehicles
- 4.2 By Product Type
- 4.2.1 Engine Oils
- 4.2.2 Greases
- 4.2.3 Hydraulic Fluids
- 4.2.4 Transmission & Gear Oils
- 5 Competitive Landscape
- 5.1 Key Strategic Moves
- 5.2 Market Share Analysis
- 5.3 Company Profiles
- 5.3.1 Boss Lubricants
- 5.3.2 BP PLC (Castrol)
- 5.3.3 Chevron Corporation
- 5.3.4 ExxonMobil Corporation
- 5.3.5 FUCHS
- 5.3.6 HollyFrontier (PetroCanada lubricants)
- 5.3.7 Phillips 66 Lubricants
- 5.3.8 Royal Dutch Shell Plc
- 5.3.9 TotalEnergies
- 5.3.10 Valvoline Inc.
- 6 Appendix
- 6.1 Appendix-1 References
- 6.2 Appendix-2 List of Tables & Figures
- 7 Key Strategic Questions for Lubricants CEOs
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