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

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

The Russia Automotive Lubricants Market is at 555.46 million liters in 2021 and is projected to register a CAGR of 2.31% to reach 622.58 million liters in 2026. The COVID-19 outbreak has resulted in around 8% drop in the vehicle sales of Russia during 2019-2020. The lockdowns imposed as a response to the pandemic and the reduced traveling needs of consumers in the country have resulted in this drop.

Key Highlights

• Largest Segment by Vehicle Type - Commercial Vehicles : The highest lubricant consumption from the country's commercial vehicles sector is attributed to the high average lubricant requirement for commercial vehicles in Russia.
• Fastest Segment by Vehicle Type - Passenger Vehicles : The expected recovery of passenger vehicle sales and production in Russia from 2021 is anticipated to drive the demand for lubricants during the forecast period.
• 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 - Hydraulic Fluids : The expected recovery of automotive sales, usage, and production in Russia from 2021 is likely to drive the demand for hydraulic fluids during the forecast period.

Key Market TrendsLargest Segment By Vehicle Type : Commercial Vehicles

• In Russia, passenger vehicles accounted for a share of 80.95% in the total number of on-road vehicles in 2020, followed by commercial vehicles and motorcycles, with 15.04% and 4.01% shares, respectively.
• In 2020, the commercial vehicles (CVs) segment accounted for the highest share of 50.58% in terms of lubricant consumption. During the year, freight transportation was affected by the social restrictions imposed to curb the spread of COVID-19, leading to a dip of about 12.97% in lubricant consumption in Russia’s largest vehicles segment.
• Among all vehicle types, the passenger vehicles segment is likely to be the fastest-growing segment at a CAGR of 3.99%, in terms of lubricant consumption, during 2021-2026. This growth is likely to be majorly driven by the increase in the average distance traveled per year and the expected recovery in Russia’s passenger vehicle sales in the coming years.

Competitive Landscape

The Russia Automotive Lubricants Market is fairly consolidated, with the top five companies occupying 79.01%. 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)
CHEVRON CORPORATION
DelfinGroup
ExxonMobil Corporation
Gazprom
LIQUI MOLY
LUKOIL
Motul
ROSNEFT
Royal Dutch Shell Plc
SCT Lubricants
SK Lubricants Co. Ltd
TotalEnergies

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