Norway Commercial Vehicles Lubricants Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 13.88 Million Liters |
| Market Volume (2026) | 14.46 Million Liters |
| CAGR (2024 - 2026) | 2.07 % |
| Market Concentration | High |
Norway Commercial Vehicles Lubricants Market Analysis
The Norway Commercial Vehicles Lubricants Market size is estimated at 13.88 Million Liters in 2024, and is expected to reach 14.46 Million Liters by 2026, growing at a CAGR of 2.07% 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 : Growing electric vehicle sales and increasing automatic transmissions in the country are likely to drive the demand for transmission oils during the forecast period.
Norway Commercial Vehicles Lubricants Market Trends
This section covers the major market trends shaping the Norway Commercial Vehicles Lubricants Market according to our research experts:
Largest Segment By Product Type : Engine Oils
- In 2020, commercial vehicles formed the largest segment and accounted for about 55.57% of lubricant consumption. During 2015-2019, commercial vehicle lubricant consumption recorded a negative CAGR 0.32% due to the increased preference for synthetic oils and sales declines in 2017 and 2018.
- In 2020, commercial vehicle lubricant consumption declined by 4.25% as COVID-19 affected sales. However, the demand continued to remain high for freight transportation, which was considered an essential activity during the lockdown in the country.
- The CVs segment observed an increased preference for synthetic engine oils over the past few years. While the commercial vehicle segment has limited EV penetration with a target of 100% EV penetration by 2030, lubricant consumption is likely to record a comparatively higher CAGR of 2.41% over the forecast period.
Norway Commercial Vehicles Lubricants Industry Overview
The Norway Commercial Vehicles Lubricants Market is moderately consolidated, with the top five companies occupying 51.91%. The major players in this market are BP PLC (Castrol), ExxonMobil Corporation, FUCHS, Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).
Norway Commercial Vehicles Lubricants Market Leaders
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BP PLC (Castrol)
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ExxonMobil Corporation
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FUCHS
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Royal Dutch Shell Plc
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TotalEnergies
*Disclaimer: Major Players sorted in no particular order
Norway 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.
- March 2021: Castrol announced the launch of Castrol ON (a Castrol e-fluid range that includes e-gear oils, e-coolants, and e-greases) to its product portfolio. This range is specially designed for electric vehicles.
Norway 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 Champion Lubricants
5.3.3 CHEVRON CORPORATION
5.3.4 ExxonMobil Corporation
5.3.5 FUCHS
5.3.6 Gulf Oil International
5.3.7 Motul
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
Norway Commercial Vehicles Lubricants Industry Segmentation
| By Product Type | |
| Engine Oils | |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
Norway Commercial Vehicles Lubricants Market Research FAQs
How big is the Norway Commercial Vehicles Lubricants Market?
The Norway Commercial Vehicles Lubricants Market size is expected to reach 13.88 million Liters in 2024 and grow at a CAGR of 2.07% to reach 14.46 million Liters by 2026.
What is the current Norway Commercial Vehicles Lubricants Market size?
In 2024, the Norway Commercial Vehicles Lubricants Market size is expected to reach 13.88 million Liters.
Who are the key players in Norway Commercial Vehicles Lubricants Market?
BP PLC (Castrol), ExxonMobil Corporation, FUCHS, Royal Dutch Shell Plc and TotalEnergies are the major companies operating in the Norway Commercial Vehicles Lubricants Market.
Which segment has the biggest share in the Norway Commercial Vehicles Lubricants Market?
In the Norway Commercial Vehicles Lubricants Market, the Engine Oils segment accounts for the largest share by product type.
Which is the fastest growing segment in the Norway Commercial Vehicles Lubricants Market?
In 2024, the Transmission & Gear Oils segment accounts for the fastest growing by product type in the Norway Commercial Vehicles Lubricants Market.
What years does this Norway Commercial Vehicles Lubricants Market cover, and what was the market size in 2023?
In 2023, the Norway Commercial Vehicles Lubricants Market size was estimated at 13.50 million Liters. The report covers the Norway Commercial Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Norway Commercial Vehicles Lubricants Market size for years: 2024, 2025 and 2026.
Norway Commercial Vehicles Lubricants Industry Report
Statistics for the 2024 Norway Commercial Vehicles Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Norway 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.
