Market Trends of North America Automotive Lubricants Industry
This section covers the major market trends shaping the North America Automotive Lubricants Market according to our research experts:
Largest Segment By Vehicle Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Passenger Vehicles</span>
- Among all vehicle types, passenger vehicles accounted for about 76% of the total on-road vehicles in 2020, thus, generating the highest demand for lubricants in the North American market. In North America, automotive lubricant consumption stands the highest in the United States, followed by Canada and Mexico.
- In the United States and Canada, volatile sales and production trends during 2015-2020 and increased adoption of synthetic oils, with a drastic decline during 2020 due to the pandemic, have led to a slump in lubricant consumption. Mexico recorded growth during 2015-2019 due to its dependency on conventional lubricants.
- The expected recovery in sales and production in Mexico (the largest exporter to the North American market) and Canada (another major exporter), along with the United States, from the second half of 2021, is likely to increase lubricant consumption in the region.
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Largest Country : <span style="font-family: 'regular_bold';color:#0e7db3;">United States</span>
- In North America, automotive lubricant consumption is the highest in the United States, followed by Canada and Mexico. In the United States and Canada, volatile sales and production trends led to a slump in lubricant consumption during 2015-2019. Mexico recorded growth during this period due to growth in vehicle population.
- By 2020, automotive lubricant consumption in North America dropped by 17% compared to 2019. This decline was triggered by the global pandemic, which affected vehicle sales and production.
- The Mexican automotive sector is deeply integrated with the US market, with the former being one of the largest exporters in the region. Hence, with an expected recovery in sales in Mexico and the United States, along with Canada, from the second half of 2021, vehicle production is expected to increase in the region, resulting in increased lubricant consumption.
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