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. Read More

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. Read More

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. Read More

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. Read More

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. Read More

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. Read More

Colombia Commercial Vehicles Lubricants Market Trends

Statistics for the 2023 & 2024 Colombia Commercial Vehicles Lubricants market trends, created by Mordor Intelligence™ Industry Reports. Colombia 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 Colombia Commercial Vehicles Lubricants Industry

This section covers the major market trends shaping the Colombia 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 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.