Malaysia Commercial Vehicles Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2015 - 2026
The Malaysia Commercial Vehicles Lubricants Market size is estimated at 98.23 Million Liters in 2024, and is expected to reach 102.01 Million Liters by 2026, growing at a CAGR of 1.91% during the forecast period (2024-2026).
Key Highlights
- Largest Segment by Product Type - Engine Oils : Engine oil is the leading product type due to its high volume requirements and shorter drain intervals as it is used for high-temperature and high-pressure applications
- Fastest Segment by Product Type - Transmission & Gear Oils : The expected recovery in commercial vehicle sales and production in Malaysia from 2021 is likely to drive the demand for transmission oils during the forecast period.
Malaysia Commercial Vehicles Lubricants Market Trends
Largest Segment By Product Type : Engine Oils
- In Malaysia, commercial vehicles (CVs) formed the second largest segment and accounted for about 29% of lubricant consumption. During 2015-2019, lubricant consumption recorded a CAGR of 4.92% in the CV segment. CV lubricant consumption was majorly driven by a rise in on-road CV population in the country during this period.
- In 2020, commercial vehicle lubricant consumption declined by 10.51% as the COVID-19 pandemic affected sales. Engine oil accounts for a 77.2% share in CV lubricant consumption, followed by transmission oils (12.5%). A major dip of 11.32% was observed in engine oil consumption in the CV segment during the year.
- During 2021-2026, transmission oil is likely to be the fastest-growing segment with a CAGR of 4.13%. The increasing share of automatic commercial vehicles in the country is expected to boost the consumption of transmission oils over the next five years.
Malaysia Commercial Vehicles Lubricants Industry Overview
The Malaysia Commercial Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 84.61%. The major players in this market are BP Plc (Castrol), Chevron Corporation, PETRONAS Lubricants International, 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 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 BP Plc (Castrol)
- 5.3.2 Chevron Corporation
- 5.3.3 ExxonMobil Corporation
- 5.3.4 FUCHS
- 5.3.5 Petron Corporation
- 5.3.6 PETRONAS Lubricants International
- 5.3.7 Royal Dutch Shell Plc
- 5.3.8 TotalEnergies
- 5.3.9 UMW HOLDINGS BERHAD
- 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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