
Mexico Commercial Vehicles Lubricants Market - Size, Share, Covid-19 Impact & Forecasts Up To 2026
Description
The Mexico Commercial Vehicles Lubricants Market is at 174.90 million liters in 2021 and is projected to register a CAGR of 2.27% to reach 195.67 million liters in 2026. In 2020, sales of commercial vehicles were affected due to the COVID-19 outbreak, primarily due to reduced demand for heavy trucks from the manufacturing sector and the logistics segment. This factor resulted in a significant dip of 46.2% in the wholesale sales of heavy trucks in Mexico during the first 10 months of 2020, compared to the same period in 2019.
Key Highlights- Largest Segment by Product Type - Engine Oils : Engine oils form the leading product type, owing to their high volume requirements and low drain interval. They are used for high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Transmission Oils : The expected recovery of commercial vehicle sales and production in the country from 2021 is likely to drive the demand for transmission oils during the forecast period.
- During 2015-2019, the commercial vehicle lubricant consumption in Mexico witnessed a gradual increase, followed by a period of decline.
- The high average age of heavy-duty commercial trucks and significant usage of older lubricant specifications were the major factors driving the country's lubricant consumption levels. During 2015-2019, commercial vehicle production in Mexico witnessed uneven growth rates, thus, leading to a volatile trend in commercial lubricant consumption.
- During 2019-2020, the consumption dropped suddenly, owing to decreased freight transportation post the COVID-19 outbreak. The sales of commercial vans and tractors in Mexico are likely to recover significantly during 2021, thereby supporting the commercial lubricant consumption with a CAGR of 2.27% during the forecast period.
The Mexico Commercial Vehicles Lubricants Market is moderately consolidated, with the top five companies occupying 61.80%. The major players in this market are Bardahl, BP PLC (Castrol), ExxonMobil Corporation, Roshfrans and Royal Dutch Shell Plc (sorted alphabetically).
Additional Benefits:- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Bardahl
BP PLC (Castrol)
Chevron Corporation
ExxonMobil Corporation
Mexicana de Lubricantes S.A. de C.V.
Raloy
Roshfrans
Royal Dutch Shell Plc
TotalEnergies
Valvoline Inc.
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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
- 3.1.1 Commercial Vehicles
- 3.2 Regulatory Framework
- 3.2.1 Mexico
- 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 Oils
- 5 Competitive Landscape
- 5.1 Key Strategic Moves
- 5.2 Market Share Analysis
- 5.3 Company Profiles
- 5.3.1 Bardahl
- 5.3.2 BP PLC (Castrol)
- 5.3.3 Chevron Corporation
- 5.3.4 ExxonMobil Corporation
- 5.3.5 Mexicana de Lubricantes S.A. de C.V.
- 5.3.6 Raloy
- 5.3.7 Roshfrans
- 5.3.8 Royal Dutch Shell Plc
- 5.3.9 TotalEnergies
- 5.3.10 Valvoline Inc.
- 6 Appendix
- 6.1 Appendix-1 References
- 6.2 Appendix-2 List of Tables & Figures
- 7 Key Strategic Questions for Lubricants CEOs
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