Japan Commercial Vehicles Lubricants Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 261.20 Million Liters |
| Market Volume (2026) | 269.95 Million Liters |
| CAGR (2024 - 2026) | 1.66 % |
| Market Concentration | High |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Japan Commercial Vehicles Lubricants Market Analysis
The Japan Commercial Vehicles Lubricants Market size is estimated at 261.20 Million Liters in 2024, and is expected to reach 269.95 Million Liters by 2026, growing at a CAGR of 1.66% during the forecast period (2024-2026).
- Largest Segment by Product Type - Engine Oils : Engine oil is the leading product type due to its high volume requirements and shorter drain intervals, making it ideal for high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Hydraulic Fluids : The expected recovery of commercial vehicle sales and production in Japan from 2021 is expected to drive the demand for hydraulic fluids during the forecast period.
Japan Commercial Vehicles Lubricants Market Trends
This section covers the major market trends shaping the Japan 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 Japan, commercial vehicles formed the second largest segment and accounted for 48.3% of lubricant consumption. During 2015-2019, lubricant consumption in the commercial vehicle segment declined at a CAGR of 2.64% due to the high rate of phasing out of older trucks, which led to a decline in the on-road population of commercial vehicles.
- In 2020, commercial vehicle lubricant consumption declined by 12.28% as the COVID-19 pandemic affected production. In terms of lubricant consumption by commercial vehicles, engine oil accounted for a 61.79% share, followed by greases (16.14%) and transmission oils (11.99%). A major dip of 13.54% was observed in the consumption of transmission oils by commercial vehicles during the year.
- During 2021-26, the hydraulic fluids segment is likely to be the fastest-growing segment, recording a CAGR of 2.24%. This growth is likely to be driven by the rise in freight transportation activities and the penetration of electric trucks in the market.
Japan Commercial Vehicles Lubricants Industry Overview
The Japan Commercial Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 94.73%. The major players in this market are Cosmo Energy Holdings Co. Ltd, ENEOS Corporation, ExxonMobil Corporation, Idemitsu Kosan Co. Ltd and Royal Dutch Shell Plc (sorted alphabetically).
Japan Commercial Vehicles Lubricants Market Leaders
-
Cosmo Energy Holdings Co. Ltd
-
ENEOS Corporation
-
ExxonMobil Corporation
-
Idemitsu Kosan Co. Ltd
-
Royal Dutch Shell Plc
*Disclaimer: Major Players sorted in no particular order
Japan 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.
- March 2021: Hyundai Motor Company and Royal Dutch Shell PLC announced a five-year global business cooperation agreement, with a new focus on clean energy and carbon reduction, to help Hyundai continue its transformation as a Smart Mobility Solution Provider.
- February 2021: Royal Dutch Shell PLC introduced a global portfolio of carbon-neutral lubricants for a wide range of automotive and industrial applications to control carbon emissions.
Japan 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 AKT Japan Co. Ltd (TAKUMI Motor Oil)
5.3.2 Chugoku Kogyo Co. Ltd
5.3.3 Cosmo Energy Holdings Co. Ltd
5.3.4 ENEOS Corporation
5.3.5 ExxonMobil Corporation
5.3.6 FUCHS
5.3.7 Idemitsu Kosan Co. Ltd
5.3.8 Japan Sun Oil Company Ltd (SUNOCO Inc.)
5.3.9 MITASU OIL CORPORATION
5.3.10 Royal Dutch Shell Plc
6. Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
Japan Commercial Vehicles Lubricants Industry Segmentation
| By Product Type | |
| Engine Oils | |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
Japan Commercial Vehicles Lubricants Market Research FAQs
How big is the Japan Commercial Vehicles Lubricants Market?
The Japan Commercial Vehicles Lubricants Market size is expected to reach 261.20 million Liters in 2024 and grow at a CAGR of 1.66% to reach 269.95 million Liters by 2026.
What is the current Japan Commercial Vehicles Lubricants Market size?
In 2024, the Japan Commercial Vehicles Lubricants Market size is expected to reach 261.20 million Liters.
Who are the key players in Japan Commercial Vehicles Lubricants Market?
Cosmo Energy Holdings Co. Ltd, ENEOS Corporation, ExxonMobil Corporation, Idemitsu Kosan Co. Ltd and Royal Dutch Shell Plc are the major companies operating in the Japan Commercial Vehicles Lubricants Market.
Which segment has the biggest share in the Japan Commercial Vehicles Lubricants Market?
In the Japan Commercial Vehicles Lubricants Market, the Engine Oils segment accounts for the largest share by product type.
Which is the fastest growing segment in the Japan Commercial Vehicles Lubricants Market?
In 2024, the Hydraulic Fluids segment accounts for the fastest growing by product type in the Japan Commercial Vehicles Lubricants Market.
What years does this Japan Commercial Vehicles Lubricants Market cover, and what was the market size in 2023?
In 2023, the Japan Commercial Vehicles Lubricants Market size was estimated at 257.07 million Liters. The report covers the Japan Commercial Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Japan Commercial Vehicles Lubricants Market size for years: 2024, 2025 and 2026.
Japan Commercial Vehicles Lubricants Industry Report
Statistics for the 2024 Japan Commercial Vehicles Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Japan Commercial Vehicles Lubricants analysis includes a market forecast outlook to 2026 and historical overview. Get a sample of this industry analysis as a free report PDF download.
