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

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

The Spain Commercial Vehicles Lubricants Market is at 97.11 million liters in 2021 and is projected to register a CAGR of 1.94% to reach 106.88 million liters in 2026. In 2020, the Y-o-Y decrease in lubricant consumption in the segment was lesser than other vehicle segments due to the sustained demand for freight transportation, which was considered an essential activity during the lockdown in the country.

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 intervals. It is used for high-temperature and high-pressure applications.
• Fastest Segment by Product Type - Engine Oils : In Spain, the increase in the usage and sales of commercial vehicles post the year 2020 is likely to drive the demand for engine oils during the forecast period.

Key Market TrendsLargest Segment By Product Type : Engine Oils

• In 2015, the commercial vehicles (CVs) segment accounted for a majority share of 53.1% of the overall Spanish automotive lubricants market. During 2015-2019, the segment recorded a CAGR of 1.64%. The share of lubricants in the CV segment decreased to 51.3% by 2019.
• In 2020, the year-on-year decrease in the segment’s lubricant consumption rate was lower (-7.34%) compared to other vehicle segments due to the sustained demand for freight transportation - which was considered an essential activity during the lockdown.
• The sales of used trucks and new commercial vehicles are estimated to increase due to a surge in trade activities with other European countries, along with the implementation of a new scrappage policy in 2020. Hence, lubricant consumption in the CV segment is estimated to record a CAGR of 1.94% during 2021-2026.

Competitive Landscape

The Spain Commercial Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 65.80%. The major players in this market are CEPSA, ExxonMobil Corporation, Repsol, 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
 
BP PLC (Castrol)
CEPSA
CHEVRON CORPORATION
Eni SpA
ExxonMobil Corporation
Galp Energia
Motul
Repsol
Royal Dutch Shell Plc
TotalEnergies

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