How big is the China Commercial Vehicles Lubricants Market?

The China Commercial Vehicles Lubricants Market size is expected to reach 1.30 billion Liters in 2024 and grow at a CAGR of 4.88% to reach 1.43 billion Liters by 2026. Read More

What is the current China Commercial Vehicles Lubricants Market size?

In 2024, the China Commercial Vehicles Lubricants Market size is expected to reach 1.30 billion Liters. Read More

Who are the key players in China 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 China Commercial Vehicles Lubricants Market. Read More

Which segment has the biggest share in the China Commercial Vehicles Lubricants Market?

In the China Commercial Vehicles Lubricants Market, the Engine Oils segment accounts for the largest share by product type. Read More

Which is the fastest growing segment in the China Commercial Vehicles Lubricants Market?

In 2024, the Transmission & Gear Oils segment accounts for the fastest growing by product type in the China Commercial Vehicles Lubricants Market. Read More

What years does this China Commercial Vehicles Lubricants Market cover, and what was the market size in 2023?

In 2023, the China Commercial Vehicles Lubricants Market size was estimated at 1.23 billion Liters. The report covers the China Commercial Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the China Commercial Vehicles Lubricants Market size for years: 2024, 2025 and 2026. Read More

China Commercial Vehicles Lubricants Market Trends

Statistics for the 2023 & 2024 China Commercial Vehicles Lubricants market trends, created by Mordor Intelligence™ Industry Reports. China Commercial Vehicles Lubricants trend report includes a market forecast to 202 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of China Commercial Vehicles Lubricants Industry

This section covers the major market trends shaping the China 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 China, among all product types, engine oils accounted for a share of 70.6% of the total lubricant demand from commercial vehicles (CV) during 2020. During 2015-2019, the overall engine oil consumption increased at a CAGR of about 1.6% due to a rise in truck sales, driven by the reformation of the country's supply sector.
In 2020, the transmission oils segment recorded the highest growth in CV lubricant consumption of about 7.8%. The financial incentives for the purchase of new energy commercial vehicles supported transmission oil consumption during the year.
During 2021-2026, the transmission oils segment is likely to be the fastest-growing segment, with a CAGR of 6%. The tax incentives offered for the purchase of commercial vehicles and augmenting production outputs are projected to drive the demand for transmission oils in the country over the next five years.