Japan Commercial Vehicles Lubricants Market Trends

Statistics for the 2023 & 2024 Japan Commercial Vehicles Lubricants market trends, created by Mordor Intelligence™ Industry Reports. Japan 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.

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Single User License

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Team License

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Corporate License

$8750

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Market Trends of Japan Commercial Vehicles Lubricants Industry

This section covers the major market trends shaping the Japan 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 Japan, commercial vehicles formed the second largest segment and accounted for 48.3% of lubricant consumption. During 2015-2019, lubricant consumption in the commercial vehicle segment declined at a CAGR of 2.64% due to the high rate of phasing out of older trucks, which led to a decline in the on-road population of commercial vehicles.
  • In 2020, commercial vehicle lubricant consumption declined by 12.28% as the COVID-19 pandemic affected production. In terms of lubricant consumption by commercial vehicles, engine oil accounted for a 61.79% share, followed by greases (16.14%) and transmission oils (11.99%). A major dip of 13.54% was observed in the consumption of transmission oils by commercial vehicles during the year.
  • During 2021-26, the hydraulic fluids segment is likely to be the fastest-growing segment, recording a CAGR of 2.24%. This growth is likely to be driven by the rise in freight transportation activities and the penetration of electric trucks in the market.
Japan Commercial Vehicles Lubricants Market

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