Market Trends of Russia Commercial Vehicles Lubricants Industry
This section covers the major market trends shaping the Russia 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 the Russian commercial vehicles segment, lubricant consumption recorded a megative CAGR of -1.29% during 2015-2019. This trend was largely driven by the growing penetration of synthetic lubricants that have longer drain intervals.
- Freight transportation in the country has been negatively affected by the social restrictions imposed due to COVID-19 during the first half of 2020. Thus, in Russia, lubricant consumption in commercial vehicles decreased by 12.97%.
- In Russia, the pent-up demand from 2020 is likely to drive the sales of commercial vehicles during the early part of the forecast period. This factor, in turn, is likely to boost lubricant consumption levels in the country. However, further penetration of synthetic oils that extend service intervals is likely to hinder the growth of lubricant consumption in Russia.
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