China Commercial Vehicles Lubricants Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Forecast Data Period | 2024 - 2026 |
| Historical Data Period | 2015 - 2019 |
| CAGR (2024 - 2026) | 4.88 % |
| Market Concentration | High |
Need a report that reflects how COVID-19 has impacted this market and its growth?
China Commercial Vehicles Lubricants Market Analysis
The China Commercial Vehicles Lubricants Market size is estimated at 1.30 Billion Liters in 2024, and is expected to reach 1.43 Billion Liters by 2026, growing at a CAGR of 4.88% during the forecast period (2024-2026).
- 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 - Transmission & Gear Oils : During the coming years, demand for transmission oils is expected to be driven by expected growth in commercial vehicle production, sales, and usage in the country.
China Commercial Vehicles Lubricants Market Trends
This section covers the major market trends shaping the China 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 China, among all product types, engine oils accounted for a share of 70.6% of the total lubricant demand from commercial vehicles (CV) during 2020. During 2015-2019, the overall engine oil consumption increased at a CAGR of about 1.6% due to a rise in truck sales, driven by the reformation of the country's supply sector.
- In 2020, the transmission oils segment recorded the highest growth in CV lubricant consumption of about 7.8%. The financial incentives for the purchase of new energy commercial vehicles supported transmission oil consumption during the year.
- During 2021-2026, the transmission oils segment is likely to be the fastest-growing segment, with a CAGR of 6%. The tax incentives offered for the purchase of commercial vehicles and augmenting production outputs are projected to drive the demand for transmission oils in the country over the next five years.
China Commercial Vehicles Lubricants Industry Overview
The China Commercial Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 75.19%. The major players in this market are BP PLC (Castrol), China National Petroleum Corporation, China Petroleum & Chemical Corporation, ExxonMobil Corporation and Royal Dutch Shell Plc (sorted alphabetically).
China Commercial Vehicles Lubricants Market Leaders
-
BP PLC (Castrol)
-
China National Petroleum Corporation
-
China Petroleum & Chemical Corporation
-
ExxonMobil Corporation
-
Royal Dutch Shell Plc
*Disclaimer: Major Players sorted in no particular order
China Commercial Vehicles Lubricants Market News
- January 2022: Effective April 1, ExxonMobil Corporation was organized along three business lines - ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon Solutions.
- August 2021: FUCHS has decided to expand its grease plant located in China named Yingkou Fox Oil Products Co. Ltd. This expansion may help the company produce more volumes of grease to cater to the demand in China.
- March 2021: Castrol announced the launch of Castrol ON (a Castrol e-fluid range that includes e-gear oils, e-coolants, and e-greases) to its product portfolio. This range is specially designed for electric vehicles.
China Commercial Vehicles Lubricants Market Report - Table of Contents
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 Beijing Zhongrun Huayou Petrochemical Co. Ltd
- 5.3.2 BP PLC (Castrol)
- 5.3.3 Chevron Corporation
- 5.3.4 China National Petroleum Corporation
- 5.3.5 China Petroleum & Chemical Corporation
- 5.3.6 ExxonMobil Corporation
- 5.3.7 FUCHS
- 5.3.8 Jiangsu Lopal Tech Co. Ltd
- 5.3.9 Royal Dutch Shell Plc
- 5.3.10 Tongyi Petrochemical Co. Ltd
- *List Not Exhaustive
6. Appendix
- 6.1 Appendix-1 References
- 6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
China Commercial Vehicles Lubricants Industry Segmentation
| By Product Type | Engine Oils |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
China Commercial Vehicles Lubricants Market Research FAQs
How big is the China Commercial Vehicles Lubricants Market?
The China Commercial Vehicles Lubricants Market size is expected to reach 1.30 billion Liters in 2024 and grow at a CAGR of 4.88% to reach 1.43 billion Liters by 2026.
What is the current China Commercial Vehicles Lubricants Market size?
In 2024, the China Commercial Vehicles Lubricants Market size is expected to reach 1.30 billion Liters.
Who are the key players in China Commercial Vehicles Lubricants Market?
BP PLC (Castrol), China National Petroleum Corporation, China Petroleum & Chemical Corporation, ExxonMobil Corporation and Royal Dutch Shell Plc are the major companies operating in the China Commercial Vehicles Lubricants Market.
Which segment has the biggest share in the China Commercial Vehicles Lubricants Market?
In the China Commercial Vehicles Lubricants Market, the Engine Oils segment accounts for the largest share by product type.
Which is the fastest growing segment in the China Commercial Vehicles Lubricants Market?
In 2024, the Transmission & Gear Oils segment accounts for the fastest growing by product type in the China Commercial Vehicles Lubricants Market.
What years does this China Commercial Vehicles Lubricants Market cover, and what was the market size in 2023?
In 2023, the China Commercial Vehicles Lubricants Market size was estimated at 1.23 billion Liters. The report covers the China Commercial Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the China Commercial Vehicles Lubricants Market size for years: 2024, 2025 and 2026.
China Commercial Vehicles Lubricants Industry Report
Statistics for the 2023 China Commercial Vehicles Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. China Commercial Vehicles Lubricants analysis includes a market forecast outlook to 202 and historical overview. Get a sample of this industry analysis as a free report PDF download.
