Canada Commercial Vehicles Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2015 - 2026
The Canada Commercial Vehicles Lubricants Market size is estimated at 283 Million Liters in 2024, and is expected to reach 285.09 Million Liters by 2026, growing at a CAGR of 0.37% during the forecast period (2024-2026).
Key Highlights
- Largest Segment by Product Type - Engine Oils : Engine oils form the leading product type, owing to their high volume requirements and low drain intervals. They are used in high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Hydraulic Fluids : Increased trade activities and recovery of commercial vehicle sales in the country are likely to drive the demand for hydraulic fluids during the forecast period.
Canada Commercial Vehicles Lubricants Market Trends
Largest Segment By Product Type : Engine Oils
- The cold weather conditions in Canada boost the need for synthetic diesel engine oils, such as 0W-40, which has led to an increase in drain intervals. This factor, combined with significant fluctuations in the production levels, resulted in a volatile trend pertaining to lubricant consumption during this period.
- Post the COVID-19 outbreak, freight transportation in the country has been negatively affected, owing to the social restrictions imposed during the first half of 2020, resulting in decreased maintenance requirements for commercial vehicles and declining lubricant consumption in this sector.
- The electric vehicle penetration in the commercial vehicles segment has been slow in Canada, as electric engines struggle to hold their charge in cold weather conditions, resulting in a minimal effect of electric vehicle penetration on the projected lubricant volume consumption.
Canada Commercial Vehicles Lubricants Industry Overview
The Canada Commercial Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 76.14%. The major players in this market are BP PLC (Castrol), ExxonMobil Corporation, HollyFrontier (PetroCanada lubricants), Phillips 66 Lubricants and Royal Dutch Shell Plc (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 Product Type
- 4.1.1 Engine Oils
- 4.1.2 Greases
- 4.1.3 Hydraulic Fluids
- 4.1.4 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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