| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Volume (2025) | 3.59 Billion Liters |
| Market Volume (2030) | 4.40 Billion Liters |
| CAGR | 4.12 % |
| Market Concentration | High |
APAC Commercial Vehicles Lubricants Market Analysis
The Asia-pacific Commercial Vehicles Lubricants Market size is estimated at 3.59 billion liters in 2025, and is expected to reach 4.40 billion liters by 2030, at a CAGR of 4.12% during the forecast period (2025-2030).
- Largest Segment by Product Type - Engine Oils : Engine oil is the leading product type due to its high volume requirements and low drain intervals. It is used for high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Transmission & Gear Oils : The expected recovery of commercial truck production from 2021 and the growing adoption of automatic transmission are likely to boost the demand for transmission oils.
- Largest Country Market - China : The high lubricant consumption in China can be attributed to the vehicle fleet in the country and the growing average age of the vehicles that need high lubricant usage.
- Fastest Growing Country Market - India : In India, sales growth of light and heavy trucks, supported by the increasing travel rate, is projected to augment the demand for lubricants in this sector at a high rate.
APAC Commercial Vehicles Lubricants Market Trends
Largest Segment By Product Type : Engine Oils
- During 2015-2019, lubricant consumption in the Asia-Pacific commercial vehicle sector increased at a CAGR of 4.38%. Engine oil was the dominating lubricant product type in this sector, which accounted for a 69.68% share of lubricant consumption in 2020. Engine oil was followed by transmission oil, which accounted for around 13.67% of the lubricant consumption in 2020.
- In 2020, post the COVID-19 outbreak, freight transportation significantly dropped due to the lockdowns put in place as a response to the pandemic. As a result, lubricant consumption in this sector fell by 6.30% in comparison to 2019.
- The expected boom in logistic requirements and recovery in sales of new commercial vehicles are likely to drive the lubricant consumption in this sector. Hence, the lubricant consumption of commercial vehicles is expected to register a CAGR of 4.38% during 2021-2026.
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Largest Country : China
- In the Asia-Pacific region, the consumption of commercial vehicle (CV) lubricants is the highest in China, followed by India and Thailand. In 2020, China accounted for 35.94% of the total consumption of CV lubricants in the region, whereas India and Thailand accounted for 16.31% and 10.58%, respectively.
- The restrictions imposed on business and transportation activities after the COVID-19 pandemic negatively affected the consumption of CV lubricants across the region in 2020. Singapore was the most affected as it witnessed a 17.26% drop in consumption during 2019-2020, followed by Thailand, which saw a 13.83% drop.
- During 2021-2026, India is likely to be the fastest-growing CV lubricants market, as the consumption is likely to register a CAGR of 5.77%, followed by China and Indonesia, which are expected to register a CAGR of 5.16% and 4.34%, respectively.
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APAC Commercial Vehicles Lubricants Industry Overview
The Asia-pacific Commercial Vehicles Lubricants Market is moderately consolidated, with the top five companies occupying 45.94%. The major players in this market are BP PLC (Castrol), China National Petroleum Corporation, China Petroleum & Chemical Corporation, ExxonMobil Corporation and Royal Dutch Shell Plc (sorted alphabetically).
APAC Commercial Vehicles Lubricants Market Leaders
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BP PLC (Castrol)
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China National Petroleum Corporation
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China Petroleum & Chemical Corporation
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ExxonMobil Corporation
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Royal Dutch Shell Plc
- *Disclaimer: Major Players sorted in no particular order
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APAC Commercial Vehicles Lubricants Market News
- January 2022: Effective April 1, ExxonMobil Corporation was organized along three business lines - ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon Solutions.
- September 2021: Shell partnered with ReadyAssist, a Bengaluru-based 24-hour roadside assistance firm, to provide a seamless oil changing service across the country. Customers can get a free lube change for their vehicles when they buy Shell lubricants through ReadyAssist, which will be accessible at up to 5,500 third-party retail outlets across the country.
- September 2021: ExxonMobil Asia Pacific Pte Ltd established the MobilSM Fleet Care (MFC) program for its lubricant clients, which provides fleet owners and operators with a holistic picture of their fleet's operating performance.
APAC Commercial Vehicles Lubricants Industry Segmentation
| By Product Type | Engine Oils |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils | |
| By Country | China |
| India | |
| Indonesia | |
| Japan | |
| Malaysia | |
| Philippines | |
| Singapore | |
| South Korea | |
| Thailand | |
| Vietnam | |
| Rest of Asia-Pacific |
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APAC Commercial Vehicles Lubricants Market Research FAQs
How big is the Asia-pacific Commercial Vehicles Lubricants Market?
The Asia-pacific Commercial Vehicles Lubricants Market size is expected to reach 3.59 billion Liters in 2025 and grow at a CAGR of 4.12% to reach 4.40 billion Liters by 2030.
What is the current Asia-pacific Commercial Vehicles Lubricants Market size?
In 2025, the Asia-pacific Commercial Vehicles Lubricants Market size is expected to reach 3.59 billion Liters.
Who are the key players in Asia-pacific Commercial Vehicles Lubricants Market?
BP PLC (Castrol), China National Petroleum Corporation, China Petroleum & Chemical Corporation, ExxonMobil Corporation and Royal Dutch Shell Plc are the major companies operating in the Asia-pacific Commercial Vehicles Lubricants Market.
What years does this Asia-pacific Commercial Vehicles Lubricants Market cover, and what was the market size in 2024?
In 2024, the Asia-pacific Commercial Vehicles Lubricants Market size was estimated at 3.44 billion Liters. The report covers the Asia-pacific Commercial Vehicles Lubricants Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Asia-pacific Commercial Vehicles Lubricants Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Asia-pacific Commercial Vehicles Lubricants Industry Report
Statistics for the 2025 Asia-pacific Commercial Vehicles Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-pacific Commercial Vehicles Lubricants analysis includes a market forecast outlook for 2025 to 2030) and historical overview. Get a sample of this industry analysis as a free report PDF download.
