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

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

The United Kingdom Commercial Vehicles Lubricants Market is at 48.18 million liters in 2021 and is projected to register a CAGR of 2.44% to reach 54.35 million liters in 2026. In 2020, the demand for commercial vehicle lubricants recorded a decline of around 14%, as COVID-19 affected both production and sales. The demand was retained to some extent by freight transportation, which was considered an essential activity during the lockdown.

Key Highlights

• Largest Segment by Product Type - Engine Oils : Engine oil is the dominant 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 - Transmission Oils : A surge in the business activity and the sales of commercial vehicles in the country post 2020 are likely to drive the demand for transmission oils during the forecast period.

Key Market TrendsLargest Segment By Product Type : Engine Oils

• In 2015, out of all automotive lubricants, commercial vehicle lubricant consumption accounted for 23.99% share; this increased to 25.25% by 2019. In 2020, their share further increased to 26.20% due to the low impact of COVID-19 on the segment.
• The demand for commercial vehicle lubricant registered a decline of 14.11% in 2020, as the COVID-19 outbreak affected production and sales. The demand was retained to some extent by freight transportation, which was considered an essential activity during the lockdown.
• Though the sales and production of commercial vehicles recorded a decline in the first quarter of 2021 due to the lockdown, the segment is likely to witness faster growth in the future due to an expected recovery in sales and investments in the development of electric vans and trucks. Thus, commercial vehicle lubricant consumption is likely to witness a CAGR of 2.44% during 2021-2026.

Competitive Landscape

The United Kingdom Commercial Vehicles Lubricants Market is moderately consolidated, with the top five companies occupying 63.74%. The major players in this market are BP PLC (Castrol), ExxonMobil Corporation, FUCHS, 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)
CHEVRON CORPORATION
Exol Lubricants Limited
ExxonMobil Corporation
FUCHS
Morris Lubricants
Petronas Lubricants International
Q8Oils
Royal Dutch Shell Plc
TotalEnergies

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