Turkey 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) | 5.45 % |
| Market Concentration | High |
Turkey Commercial Vehicles Lubricants Market Analysis
The Turkey Commercial Vehicles Lubricants Market size is estimated at 127.69 Million Liters in 2024, and is expected to reach 141.99 Million Liters by 2026, growing at a CAGR of 5.45% 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 shorter drain intervals, as it is used in high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Greases : The predicted rebound in commercial vehicle imports and sales, along with rise in business activities from 2021, is expected to increase grease consumption in near future.
Turkey Commercial Vehicles Lubricants Market Trends
This section covers the major market trends shaping the Turkey 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 Turkey, Commercial vehicles (CVs) is the largest vehicle type in terms of automotive lubricant consumption. During 2015-2019, the CV lubricant consumption declined by around 7% primarily owing to the declined industrial activity owing to economical crisis.
- In 2020, CVs accounted for about 56% of the total automotive lubricant consumption in the country. Engine oil accounted for the largest share in the PV lubricant consumption, with a share of around 72% during the year. During 2020, CV lubricants consumption declined by 7.1% due to the lower usage of the vehicle fleet post COVID-19 outbreak.
- The grease segment is likely to be the fastest-growing lubricant type exhibiting a CAGR of 7.04% during 2021-2026. This growth is likely to be driven by rise in sales of commercial vehicles and recovery of freight transportation in the country.
Turkey Commercial Vehicles Lubricants Industry Overview
The Turkey Commercial Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 90.90%. The major players in this market are BP PLC (Castrol), FUCHS, Petrol Ofisi, Royal Dutch Shell PLC and TotalEnergies (sorted alphabetically).
Turkey Commercial Vehicles Lubricants Market Leaders
-
BP PLC (Castrol)
-
FUCHS
-
Petrol Ofisi
-
Royal Dutch Shell PLC
-
TotalEnergies
*Disclaimer: Major Players sorted in no particular order
Turkey Commercial Vehicles Lubricants Market News
- 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.
- March 2021: Hyundai Motor Company and Royal Dutch Shell PLC announced a five-year global business cooperation agreement, with a new focus on clean energy and carbon reduction, to help Hyundai continue its transformation as a Smart Mobility Solution Provider.
- February 2021: Royal Dutch Shell PLC introduced a global portfolio of carbon-neutral lubricants for a wide range of automotive and industrial applications to control carbon emissions.
Turkey 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 Altinbas Holdings (Alpet Madeni Yağları)
- 5.3.2 BP PLC (Castrol)
- 5.3.3 Demiroren (M Oil)
- 5.3.4 FUCHS
- 5.3.5 Gulf Oil International
- 5.3.6 LUKOIL
- 5.3.7 Petline Petrol Ürünleri A.Ş
- 5.3.8 Petrol Ofisi
- 5.3.9 Royal Dutch Shell PLC
- 5.3.10 TotalEnergies
- *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
** Subject To AvailablityTurkey Commercial Vehicles Lubricants Industry Segmentation
| By Product Type | Engine Oils |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
Turkey Commercial Vehicles Lubricants Market Research FAQs
How big is the Turkey Commercial Vehicles Lubricants Market?
The Turkey Commercial Vehicles Lubricants Market size is expected to reach 127.69 million Liters in 2024 and grow at a CAGR of 5.45% to reach 141.99 million Liters by 2026.
What is the current Turkey Commercial Vehicles Lubricants Market size?
In 2024, the Turkey Commercial Vehicles Lubricants Market size is expected to reach 127.69 million Liters.
Who are the key players in Turkey Commercial Vehicles Lubricants Market?
BP PLC (Castrol), FUCHS, Petrol Ofisi, Royal Dutch Shell PLC and TotalEnergies are the major companies operating in the Turkey Commercial Vehicles Lubricants Market.
Which segment has the biggest share in the Turkey Commercial Vehicles Lubricants Market?
In the Turkey Commercial Vehicles Lubricants Market, the Engine Oils segment accounts for the largest share by product type.
Which is the fastest growing segment in the Turkey Commercial Vehicles Lubricants Market?
In 2024, the Greases segment accounts for the fastest growing by product type in the Turkey Commercial Vehicles Lubricants Market.
What years does this Turkey Commercial Vehicles Lubricants Market cover, and what was the market size in 2023?
In 2023, the Turkey Commercial Vehicles Lubricants Market size was estimated at 120.74 million Liters. The report covers the Turkey Commercial Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Turkey Commercial Vehicles Lubricants Market size for years: 2024, 2025 and 2026.
Turkey Commercial Vehicles Lubricants Industry Report
Statistics for the 2023 Turkey Commercial Vehicles Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Turkey 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.
