Mexico Commercial Vehicles Lubricants Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 190.15 Million Liters |
| Market Volume (2026) | 195.67 Million Liters |
| CAGR (2024 - 2026) | 1.44 % |
| Market Concentration | High |
Mexico Commercial Vehicles Lubricants Market Analysis
The Mexico Commercial Vehicles Lubricants Market size is estimated at 190.15 Million Liters in 2024, and is expected to reach 195.67 Million Liters by 2026, growing at a CAGR of 1.44% during the forecast period (2024-2026).
- Largest Segment by Product Type - Engine Oils : Engine oils form the leading product type, owing to their high volume requirements and low drain interval. They are used for high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Transmission & Gear Oils : The expected recovery of commercial vehicle sales and production in the country from 2021 is likely to drive the demand for transmission oils during the forecast period.
Mexico Commercial Vehicles Lubricants Market Trends
This section covers the major market trends shaping the Mexico Commercial Vehicles Lubricants Market according to our research experts:
Largest Segment By Product Type : Engine Oils
- During 2015-2019, the commercial vehicle lubricant consumption in Mexico witnessed a gradual increase, followed by a period of decline.
- The high average age of heavy-duty commercial trucks and significant usage of older lubricant specifications were the major factors driving the country's lubricant consumption levels. During 2015-2019, commercial vehicle production in Mexico witnessed uneven growth rates, thus, leading to a volatile trend in commercial lubricant consumption.
- During 2019-2020, the consumption dropped suddenly, owing to decreased freight transportation post the COVID-19 outbreak. The sales of commercial vans and tractors in Mexico are likely to recover significantly during 2021, thereby supporting the commercial lubricant consumption with a CAGR of 2.27% during the forecast period.
Mexico Commercial Vehicles Lubricants Industry Overview
The Mexico Commercial Vehicles Lubricants Market is moderately consolidated, with the top five companies occupying 61.80%. The major players in this market are Bardahl, BP PLC (Castrol), ExxonMobil Corporation, Roshfrans and Royal Dutch Shell Plc (sorted alphabetically).
Mexico Commercial Vehicles Lubricants Market Leaders
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Bardahl
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BP PLC (Castrol)
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ExxonMobil Corporation
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Roshfrans
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Royal Dutch Shell Plc
*Disclaimer: Major Players sorted in no particular order
Mexico 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.
- June 2021: Castrol launched Castrol ON TM, a new line of e-fluids for electric vehicles. It includes e-greases, e-thermal fluids, and e-transmission fluids, all of which are employed in different electrical vehicle applications.
Mexico 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 Bardahl
5.3.2 BP PLC (Castrol)
5.3.3 Chevron Corporation
5.3.4 ExxonMobil Corporation
5.3.5 Mexicana de Lubricantes S.A. de C.V.
5.3.6 Raloy
5.3.7 Roshfrans
5.3.8 Royal Dutch Shell Plc
5.3.9 TotalEnergies
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
Mexico Commercial Vehicles Lubricants Industry Segmentation
| By Product Type | |
| Engine Oils | |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
Mexico Commercial Vehicles Lubricants Market Research FAQs
How big is the Mexico Commercial Vehicles Lubricants Market?
The Mexico Commercial Vehicles Lubricants Market size is expected to reach 190.15 million Liters in 2024 and grow at a CAGR of 1.44% to reach 195.67 million Liters by 2026.
What is the current Mexico Commercial Vehicles Lubricants Market size?
In 2024, the Mexico Commercial Vehicles Lubricants Market size is expected to reach 190.15 million Liters.
Who are the key players in Mexico Commercial Vehicles Lubricants Market?
Bardahl, BP PLC (Castrol), ExxonMobil Corporation, Roshfrans and Royal Dutch Shell Plc are the major companies operating in the Mexico Commercial Vehicles Lubricants Market.
Which segment has the biggest share in the Mexico Commercial Vehicles Lubricants Market?
In the Mexico Commercial Vehicles Lubricants Market, the Engine Oils segment accounts for the largest share by product type.
Which is the fastest growing segment in the Mexico Commercial Vehicles Lubricants Market?
In 2024, the Transmission & Gear Oils segment accounts for the fastest growing by product type in the Mexico Commercial Vehicles Lubricants Market.
What years does this Mexico Commercial Vehicles Lubricants Market cover, and what was the market size in 2023?
In 2023, the Mexico Commercial Vehicles Lubricants Market size was estimated at 184.54 million Liters. The report covers the Mexico Commercial Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Commercial Vehicles Lubricants Market size for years: 2024, 2025 and 2026.
Commercial Vehicles Lubricants in Mexico Industry Report
Statistics for the 2024 Commercial Vehicles Lubricants in Mexico market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Commercial Vehicles Lubricants in Mexico analysis includes a market forecast outlook 202 and historical overview. Get a sample of this industry analysis as a free report PDF download.
