Colombia Commercial Vehicles Lubricants Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 82.24 Million Liters |
| Market Volume (2026) | 88.14 Million Liters |
| CAGR (2024 - 2026) | 3.52 % |
| Market Concentration | High |
Colombia Commercial Vehicles Lubricants Market Analysis
The Colombia Commercial Vehicles Lubricants Market size is estimated at 82.24 Million Liters in 2024, and is expected to reach 88.14 Million Liters by 2026, growing at a CAGR of 3.52% during the forecast period (2024-2026).
- Largest Segment by Product Type - Engine Oils : Engine oil is the most popular product in the aging Colombian CV fleet as it is consumed in significant amounts and changed more frequently than other product categories.
- Fastest Segment by Product Type - Transmission & Gear Oils : The consumption of transmission oils is expected to expand faster than other product types in Colombia due to the growing penetration of automatic pick-up trucks.
Colombia Commercial Vehicles Lubricants Market Trends
This section covers the major market trends shaping the Colombia Commercial Vehicles Lubricants Market according to our research experts:
Largest Segment By Product Type : Engine Oils
- In Colombia, commercial vehicles (CVs) form the second-largest vehicle type in terms of automotive lubricant consumption. During 2015-2019, lubricant consumption in the CV segment increased at a CAGR of around 1.24%, majorly due to the growing truck fleet in the country.
- The commercial vehicle lubricant consumption declined by almost 6.92% as COVID-19 affected freight transportation in 2020. The engine oil segment accounted for around 74.92% share in CV lubricant consumption in 2020. A major decline of 11.59% was observed in the consumption of greases in the CV segment during the year.
- The grease segment is expected to be the fastest-growing segment, recording a CAGR of 4.05% during 2021-2026. The recovery in production and sales of commercial vehicles is likely to drive the consumption of greases during the first half of the forecast period.
Colombia Commercial Vehicles Lubricants Industry Overview
The Colombia Commercial Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 83.31%. The major players in this market are Biomax, Chevron Corporation, Petromil SA, Royal Dutch Shell Plc and Terpel (sorted alphabetically).
Colombia Commercial Vehicles Lubricants Market Leaders
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Biomax
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Chevron Corporation
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Petromil SA
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Royal Dutch Shell Plc
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Terpel
*Disclaimer: Major Players sorted in no particular order
Colombia Commercial Vehicles Lubricants Market News
- October 2021: Valvoline and Cummins extended their long-standing marketing and technology collaboration agreement for another five years. Cummins will endorse and promote Valvoline's Premium Blue engine oil for its heavy-duty diesel engines and generators and will distribute Valvoline products through its global distribution networks.
- June 2021: TotalEnergies and Stellantis renewed their commercial partnership for the Peugeot, Citroen, and DS Automobiles brands for the next five years until 2026.
- March 2021: Castrol announced the launch of Castrol ON (a Castrol e-fluid range that includes e-gear oils, e-coolants, and e-greases) to its product portfolio. This range is specially designed for electric vehicles.
Colombia Commercial Vehicles Lubricants Market Report - 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
3.2 Regulatory Framework
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 & Gear Oils
5. Competitive Landscape
5.1 Key Strategic Moves
5.2 Market Share Analysis
5.3 Company Profiles
5.3.1 Biomax
5.3.2 BP Plc (Castrol)
5.3.3 Chevron Corporation
5.3.4 Gulf Oil International
5.3.5 KIB Internatonal Business (Kroil)
5.3.6 Motul
5.3.7 Petrobras
5.3.8 Petromil SA
5.3.9 Primax
5.3.10 Royal Dutch Shell Plc
5.3.11 Terpel
5.3.12 TotalEnergies
5.3.13 Valvoline Inc.
6. Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
Colombia Commercial Vehicles Lubricants Industry Segmentation
| By Product Type | |
| Engine Oils | |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
Colombia Commercial Vehicles Lubricants Market Research FAQs
How big is the Colombia Commercial Vehicles Lubricants Market?
The Colombia Commercial Vehicles Lubricants Market size is expected to reach 82.24 million Liters in 2024 and grow at a CAGR of 3.52% to reach 88.14 million Liters by 2026.
What is the current Colombia Commercial Vehicles Lubricants Market size?
In 2024, the Colombia Commercial Vehicles Lubricants Market size is expected to reach 82.24 million Liters.
Who are the key players in Colombia Commercial Vehicles Lubricants Market?
Biomax, Chevron Corporation, Petromil SA, Royal Dutch Shell Plc and Terpel are the major companies operating in the Colombia Commercial Vehicles Lubricants Market.
Which segment has the biggest share in the Colombia Commercial Vehicles Lubricants Market?
In the Colombia Commercial Vehicles Lubricants Market, the Engine Oils segment accounts for the largest share by product type.
Which is the fastest growing segment in the Colombia Commercial Vehicles Lubricants Market?
In 2024, the Transmission & Gear Oils segment accounts for the fastest growing by product type in the Colombia Commercial Vehicles Lubricants Market.
What years does this Colombia Commercial Vehicles Lubricants Market cover, and what was the market size in 2023?
In 2023, the Colombia Commercial Vehicles Lubricants Market size was estimated at 79.86 million Liters. The report covers the Colombia Commercial Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Colombia Commercial Vehicles Lubricants Market size for years: 2024, 2025 and 2026.
Colombia Commercial Vehicles Lubricants Industry Report
Statistics for the 2023 Colombia Commercial Vehicles Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Colombia Commercial Vehicles Lubricants analysis includes a market forecast outlook to 202 and historical overview. Get a sample of this industry analysis as a free report PDF download.
