Canada Automotive Lubricants Market - Size, Share, Covid-19 Impact & Forecasts Up To 2026

Canada Automotive Lubricants Market - Size, Share, Covid-19 Impact & Forecasts Up To 2026

The Canada Automotive Lubricants Market is at 407.85 million liters in 2021 and is projected to register a CAGR of 2.26% to reach 455.98 million liters in 2026. The outbreak of COVID-19 has caused major production disruptions and negatively affected customers' purchasing power in Canada. As per the data published by Statistics Canada and the Motorcycle & Moped Industry Council, automotive sales in the country witnessed a decline by 19.88% during 2019-2020.

Key Highlights

• Largest Segment by Vehicle Type - Commercial Vehicles : High vehicle population of Class 7-8 trucks with diesel engines that have high lubricant consumption capacities has resulted in the high market share of commercial vehicles
• Fastest Segment by Vehicle Type - Passenger Vehicles : As the social distancing measures are being slowly eased in the country the usage of Passenger Vehicles is likely to increase and thereby boost their lubricant consumption
• Largest Segment by Product Type - Engine Oils : Engine oil is the leading product type owing to its high volume requirements and low drain interval, as it is used for high temperature and high-pressure applications.
• Fastest Segment by Product Type - Hydraulic Fluids : The expected recovery of automotive sales in the country and the increasing usage of the existing vehicle fleet may drive the demand for hydraulic fluids in the future.

Key Market TrendsLargest Segment By Vehicle Type : Commercial Vehicles

• In Canada, commercial vehicles were the leading vehicle type, in terms of total lubricant volume consumed during 2015-2020. Commercial vehicles accounted for around 63.1% of the total lubricant volume consumption during this period. The high usage of class 7 and class 8 trucks with diesel engines that have high lubricant consumption requirements was the key reason for the commercial vehicle type to lead in lubricant consumption.
• During the forecast period, the passenger vehicle segment is likely to be the fastest-growing vehicle segment, and it is projected to record a CAGR of 2.96%. The growing passenger vehicle sales in 2021 due to the pent-up demand during 2020 and the expected production capacity additions by major brands, like Ford, GM, and FCA, are likely to be the key driving factors for the growth of lubricant consumption in the passenger vehicle segment.

Competitive Landscape

The Canada Automotive Lubricants Market is fairly consolidated, with the top five companies occupying 82.33%. The major players in this market are BP PLC (Castrol), ExxonMobil Corporation, HollyFrontier (Petro‑Canada lubricants), Royal Dutch Shell Plc and Valvoline Inc. (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
Boss Lubricants
BP PLC (Castrol)
Chevron Corporation
ExxonMobil Corporation
FUCHS
HollyFrontier (Petro‑Canada lubricants)
Phillips 66 Lubricants
Royal Dutch Shell Plc
TotalEnergies
Valvoline Inc.

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