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

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

The Russia Automotive Engine Oils Market is at 430.70 million liters in 2021 and is projected to register a CAGR of 2.04% to reach 476.50 million liters in 2026. The decline in the demand for factory-fill lubricants due to drop in production, along with the decline in the service requirements in the aftermarket segment has led to a drop of over 15%, in the overall demand for automotive engine oil in 2020, compared to 2019.

Key Highlights

• Largest Segment by Vehicle Type - Commercial Vehicles : The highest engine oil consumption in the commercial vehicles sector of the country is attributed to the high engine oil requirements for commercial vehicles in Russia.
• Fastest Segment by Vehicle Type - Passenger Vehicles : The expected recovery of the production and sales of passenger vehicles in Russia from 2021 is anticipated to boost the engine oil consumption during the forecast period.

Key Market TrendsLargest Segment By Vehicle Type : Commercial Vehicles

• In Russia, engine oils account for the major share of automotive lubricants. During 2015-2019, engine oil consumption in Russia recorded a negative CAGR of -0.31%. The decreasing annual mileage of automobiles in the country and the growing penetration of synthetic lubricants have been the key factors leading to the decline in automotive engine oil consumption.
• In 2020, the COVID-19 outbreak resulted in a massive decline in the usage rate of the existing vehicle fleets in the country and caused a 16.13% drop in engine oil consumption.
• The re-employment of lockdowns due to the second wave of COVID-19 and the country's declining active motorcycle population are likely to negatively impact engine oil demand. However, the growing passenger vehicle population and activity in the commercial vehicles segment are projected to increase engine oil consumption in the next five years.

Competitive Landscape

The Russia Automotive Engine Oils Market is fairly consolidated, with the top five companies occupying 79.33%. The major players in this market are DelfinGroup, Gazprom, LUKOIL, ROSNEFT and Royal Dutch Shell Plc (sorted alphabetically).

Additional Benefits:

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

Companies Mentioned
 
BP PLC (Castrol)
DelfinGroup
ExxonMobil Corporation
Gazprom
LIQUI MOLY
LUKOIL
Motul
ROSNEFT
Royal Dutch Shell Plc
SK Lubricants Co. Ltd

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