Brazil Commercial Vehicles Lubricants Market Trends

Statistics for the 2023 & 2024 Brazil Commercial Vehicles Lubricants market trends, created by Mordor Intelligence™ Industry Reports. Brazil Commercial Vehicles Lubricants trend report includes a market forecast to 202 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Brazil Commercial Vehicles Lubricants Industry

This section covers the major market trends shaping the Brazil Commercial Vehicles Lubricants Market according to our research experts:

Largest Segment By Product Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Engine Oils</span>

  • In Brazil, commercial vehicle (CVs) constitutes the second-largest vehicle type in terms of automotive lubricant consumption. Post 2016, lubricant consumption in the CV sector increased, mainly due to the country's growing truck fleet.
  • The commercial vehicle lubricant consumption declined by almost 5.6% as the COVID-19 pandemic affected freight transportation in 2020. The engine oil segment accounted for a 68.2% share of CV lubricant consumption in 2020. A significant decline of 8.8% was observed in the overall consumption of greases in the CV sector during the year.
  • The grease segment is likely to be the fastest-growing segment with a CAGR of 4.75% during 2021-2026. The recovery in production and sales of commercial vehicles is likely to drive the consumption of greases during the first half of the forecast period.
Brazil Commercial Vehicles Lubricants Market : Largest Segment By Product Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Engine Oils</span>

Brazil Commercial Vehicles Lubricants Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2026