Germany Commercial Vehicles Lubricants Market - Size, Share, Covid-19 Impact & Forecasts Up To 2026

Germany Commercial Vehicles Lubricants Market - Size, Share, Covid-19 Impact & Forecasts Up To 2026

The Germany Commercial Vehicles Lubricants Market is at 105.89 million liters in 2021 and is projected to register a CAGR of 1.66% to reach 115.00 million liters in 2026. Post the COVID-19 outbreak, freight transportation in the country was negatively affected due to the pandemic during the first half of 2020. Hence, the average annual mileage rates for commercial vehicles have declined by around 10% in 2020, compared to 2019.

Key Highlights

• Largest Segment by Product Type - Engine Oils : Engine oil is the leading product type due to its high volume requirements and low drain interval. It is used for high-temperature and high-pressure applications.
• Fastest Segment by Product Type - Transmission Oils : Increasing production and maintenance requirements of passenger vehicles in the country are likely to drive the demand for transmission oils during the forecast period.

Key Market TrendsLargest Segment By Product Type : Engine Oils

• During 2015-2019, commercial vehicle lubricant consumption in Germany increased by a CAGR of 0.42%, majorly owing to significant growth in the country’s commercial vehicle population.
• Post the COVID-19 outbreak, freight transportation in the country was negatively affected during the first half of 2020. Hence, the drop in annual mileage led to a decline of 10.58% in commercial vehicle lubricant consumption in the country.
• In Germany, the recovering commercial vehicle sales are likely to boost lubricant consumption during the forecast period. Although the gradual penetration of electric vehicles in the commercial vehicles sector is likely to reduce engine oil consumption, it is likely to boost grease consumption. Hence, commercial vehicle lubricant consumption is likely to record a CAGR of 1.66% during 2021-2026.

Competitive Landscape

The Germany Commercial Vehicles Lubricants Market is moderately consolidated, with the top five companies occupying 61.35%. The major players in this market are CHEVRON CORPORATION, FUCHS, LIQUI MOLY, Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).

Additional Benefits:

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

Companies Mentioned
 
ADDINOL
BP PLC (Castrol)
CHEVRON CORPORATION
ExxonMobil Corporation
FUCHS
LIQUI MOLY
Ravensberger Schmierstoffvertrieb GmbH
ROWE MINERALÖLWERK GMBH
Royal Dutch Shell Plc
TotalEnergies

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