Market Trends of Canada Passenger Vehicles Lubricants Industry
This section covers the major market trends shaping the Canada Passenger Vehicles Lubricants Market according to our research experts:
Largest Segment By Product Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Engine Oils</span>
- The passenger vehicle lubricant consumption in Canada increased during 2015-2018. However, the Y-o-Y growth rates during this period were fluctuating, owing to the changing passenger vehicle production outputs. The consumption dropped by around 2.17% during 2018-2019, caused by the increased penetration of synthetic lubricants with longer drain intervals. Additionally, there was an estimated decline of 2.54% in the average annual mileage of passenger vehicles in the country during this period.
- Post the COVID-19 outbreak, there has been a major decline in the usage of personal vehicles for commuting. Moreover, maintenance activities of passenger vehicles have significantly declined.
- With the lockdown measures being slowly eased, there has been a surge in the usage of personal vehicles, which may drive the recovery of passenger vehicle lubricant consumption.
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