Argentina Commercial Vehicles Lubricants Market Analysis
The Argentina Commercial Vehicles Lubricants Market size is estimated at 108.67 million liters in 2025, and is expected to reach 137.50 million liters by 2030, at a CAGR of 4.82% during the forecast period (2025-2030).
- Largest Segment by Product Type - Engine Oils : Engine oil is the most popular product category in the country due to the high volume requirements of used trucks, buses, and pickup trucks and yearly oil change frequencies.
- Fastest Segment by Product Type - Greases : In Argentina, the projected rebound in commercial vehicle production and sales beginning in 2021 is expected to increase greases' consumption for the next few years.
Argentina Commercial Vehicles Lubricants Market Trends
Largest Segment By Product Type : Engine Oils
- In Argentina, commercial vehicles (CVs) form the second-largest vehicle type in terms of automotive lubricant consumption. During 2015-2019, lubricant consumption in the CV sector increased at a CAGR of around 2.47%, majorly due to the growing truck fleet in the country.
- The commercial vehicle lubricant consumption declined by almost 5.3% as COVID-19 affected freight transportation in 2020. The engine oil segment accounted for around 81.03% share in CV lubricant consumption in 2020. A major decline of 9.71% was observed in the consumption of transmission oils in the CV segment during 2020.
- The grease segment is likely to be the fastest-growing segment, with a CAGR of 6.59% during 2021-2026. The recovery in production and sales of commercial vehicles is likely to drive the consumption of greases during the first half of the forecast period.
Argentina Commercial Vehicles Lubricants Industry Overview
The Argentina Commercial Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 70.38%. The major players in this market are BP PLC (Castrol), ExxonMobil Corporation, Royal Dutch Shell PLC, TotalEnergies and YPF (sorted alphabetically).
Argentina Commercial Vehicles Lubricants Market Leaders
BP PLC (Castrol)
ExxonMobil Corporation
Royal Dutch Shell PLC
TotalEnergies
YPF
- *Disclaimer: Major Players sorted in no particular order
Argentina 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.
- November 2021: Puma Energy recently entered into a contract with Kia Argentina. Puma is expected to provide Kia with its lubricants and oils for the optimal maintenance of Kia vehicles.
- 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.
