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

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

The Russia Passenger Vehicles Lubricants Market is at 279.59 million liters in 2021 and is projected to register a CAGR of 3.99% to reach 339.95 million liters in 2026. In 2020, the COVID-19 outbreak and related lockdowns hampered vehicle production, sales, and maintenance activities at large. As a result, lubricant consumption in the passenger vehicle segment dropped by over 12% in volume, 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 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 and production in Russia from 2021 is anticipated to drive the demand for hydraulic fluids in the country during the forecast period.

Key Market TrendsLargest Segment By Product Type : Engine Oils

• During 2015-2019, passenger vehicle lubricant consumption in Russia witnessed a CAGR of 1.70%. The major factor driving this surge was the expanding passenger vehicle population in the country. Additionally, the high average age of passenger vehicles in the country has also been a major driving factor for lubricant consumption in this segment.
• In 2020, the COVID-19 outbreak and related lockdowns hindered vehicle production, sales, and maintenance activities at large. As a result, lubricant consumption dropped by 18.38% compared to 2019.
• The second wave of COVID-19 and fluctuating volumes of imported vehicles are likely to negatively affect lubricant consumption for a brief period, followed by a recovery in sales growth. As a result, the passenger vehicle lubricant consumption is projected to record a CAGR of 3.99% during 2021-2026.

Competitive Landscape

The Russia Passenger Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 84.58%. 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
ROSNEFT
Royal Dutch Shell Plc
SCT Lubricants
SK Lubricants Co. Ltd

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