Turkey Commercial Vehicles Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2015 - 2026
The Turkey Commercial Vehicles Lubricants Market size is estimated at 127.69 Million Liters in 2024, and is expected to reach 141.99 Million Liters by 2026, growing at a CAGR of 5.45% 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 in high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Greases : The predicted rebound in commercial vehicle imports and sales, along with rise in business activities from 2021, is expected to increase grease consumption in near future.
Turkey Commercial Vehicles Lubricants Market Trends
Largest Segment By Product Type : Engine Oils
- In Turkey, Commercial vehicles (CVs) is the largest vehicle type in terms of automotive lubricant consumption. During 2015-2019, the CV lubricant consumption declined by around 7% primarily owing to the declined industrial activity owing to economical crisis.
- In 2020, CVs accounted for about 56% of the total automotive lubricant consumption in the country. Engine oil accounted for the largest share in the PV lubricant consumption, with a share of around 72% during the year. During 2020, CV lubricants consumption declined by 7.1% due to the lower usage of the vehicle fleet post COVID-19 outbreak.
- The grease segment is likely to be the fastest-growing lubricant type exhibiting a CAGR of 7.04% during 2021-2026. This growth is likely to be driven by rise in sales of commercial vehicles and recovery of freight transportation in the country.
Turkey Commercial Vehicles Lubricants Industry Overview
The Turkey Commercial Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 90.90%. The major players in this market are BP PLC (Castrol), FUCHS, Petrol Ofisi, Royal Dutch Shell PLC and TotalEnergies (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 Altinbas Holdings (Alpet Madeni Yağları)
- 5.3.2 BP PLC (Castrol)
- 5.3.3 Demiroren (M Oil)
- 5.3.4 FUCHS
- 5.3.5 Gulf Oil International
- 5.3.6 LUKOIL
- 5.3.7 Petline Petrol Ürünleri A.Ş
- 5.3.8 Petrol Ofisi
- 5.3.9 Royal Dutch Shell PLC
- 5.3.10 TotalEnergies
- 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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