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. Read More

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. Read More

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. Read More

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. Read More

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. Read More

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. Read More

Japan Commercial Vehicles Lubricants Market Trends

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

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.