Malaysia Commercial Vehicles Lubricants Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 98.23 Million Liters |
| Market Volume (2026) | 102.01 Million Liters |
| CAGR (2024 - 2026) | 1.91 % |
| Market Concentration | High |
Malaysia Commercial Vehicles Lubricants Market Analysis
The Malaysia Commercial Vehicles Lubricants Market size is estimated at 98.23 Million Liters in 2024, and is expected to reach 102.01 Million Liters by 2026, growing at a CAGR of 1.91% 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 as it is used for high-temperature and high-pressure applications
- Fastest Segment by Product Type - Transmission & Gear Oils : The expected recovery in commercial vehicle sales and production in Malaysia from 2021 is likely to drive the demand for transmission oils during the forecast period.
Malaysia Commercial Vehicles Lubricants Market Trends
This section covers the major market trends shaping the Malaysia Commercial Vehicles Lubricants Market according to our research experts:
Largest Segment By Product Type : Engine Oils
- In Malaysia, commercial vehicles (CVs) formed the second largest segment and accounted for about 29% of lubricant consumption. During 2015-2019, lubricant consumption recorded a CAGR of 4.92% in the CV segment. CV lubricant consumption was majorly driven by a rise in on-road CV population in the country during this period.
- In 2020, commercial vehicle lubricant consumption declined by 10.51% as the COVID-19 pandemic affected sales. Engine oil accounts for a 77.2% share in CV lubricant consumption, followed by transmission oils (12.5%). A major dip of 11.32% was observed in engine oil consumption in the CV segment during the year.
- During 2021-2026, transmission oil is likely to be the fastest-growing segment with a CAGR of 4.13%. The increasing share of automatic commercial vehicles in the country is expected to boost the consumption of transmission oils over the next five years.
Malaysia Commercial Vehicles Lubricants Industry Overview
The Malaysia Commercial Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 84.61%. The major players in this market are BP Plc (Castrol), Chevron Corporation, PETRONAS Lubricants International, Royal Dutch Shell Plc and Valvoline Inc. (sorted alphabetically).
Malaysia Commercial Vehicles Lubricants Market Leaders
-
BP Plc (Castrol)
-
Chevron Corporation
-
PETRONAS Lubricants International
-
Royal Dutch Shell Plc
-
Valvoline Inc.
*Disclaimer: Major Players sorted in no particular order
Malaysia 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.
- 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.
- September 2021: ExxonMobil Asia Pacific Pte Ltd established the MobilSM Fleet Care (MFC) program for its lubricant clients, which provides fleet owners and operators with a holistic picture of their fleet's operating performance.
Malaysia 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 BP Plc (Castrol)
5.3.2 Chevron Corporation
5.3.3 ExxonMobil Corporation
5.3.4 FUCHS
5.3.5 Petron Corporation
5.3.6 PETRONAS Lubricants International
5.3.7 Royal Dutch Shell Plc
5.3.8 TotalEnergies
5.3.9 UMW HOLDINGS BERHAD
5.3.10 Valvoline Inc.
6. Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
Malaysia Commercial Vehicles Lubricants Industry Segmentation
| By Product Type | |
| Engine Oils | |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
Malaysia Commercial Vehicles Lubricants Market Research FAQs
How big is the Malaysia Commercial Vehicles Lubricants Market?
The Malaysia Commercial Vehicles Lubricants Market size is expected to reach 98.23 million Liters in 2024 and grow at a CAGR of 1.91% to reach 102.01 million Liters by 2026.
What is the current Malaysia Commercial Vehicles Lubricants Market size?
In 2024, the Malaysia Commercial Vehicles Lubricants Market size is expected to reach 98.23 million Liters.
Who are the key players in Malaysia Commercial Vehicles Lubricants Market?
BP Plc (Castrol), Chevron Corporation, PETRONAS Lubricants International, Royal Dutch Shell Plc and Valvoline Inc. are the major companies operating in the Malaysia Commercial Vehicles Lubricants Market.
Which segment has the biggest share in the Malaysia Commercial Vehicles Lubricants Market?
In the Malaysia Commercial Vehicles Lubricants Market, the Engine Oils segment accounts for the largest share by product type.
Which is the fastest growing segment in the Malaysia Commercial Vehicles Lubricants Market?
In 2024, the Transmission & Gear Oils segment accounts for the fastest growing by product type in the Malaysia Commercial Vehicles Lubricants Market.
What years does this Malaysia Commercial Vehicles Lubricants Market cover, and what was the market size in 2023?
In 2023, the Malaysia Commercial Vehicles Lubricants Market size was estimated at 96.70 million Liters. The report covers the Malaysia Commercial Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Malaysia Commercial Vehicles Lubricants Market size for years: 2024, 2025 and 2026.
Malaysia Commercial Vehicles Lubricants Industry Report
Statistics for the 2024 Malaysia Commercial Vehicles Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Malaysia 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.
