Colombia Commercial Vehicles Lubricants Market Analysis
The Colombia Commercial Vehicles Lubricants Market size is estimated at 85.13 million liters in 2025, and is expected to reach 101.21 million liters by 2030, at a CAGR of 3.52% during the forecast period (2025-2030).
- Largest Segment by Product Type - Engine Oils : Engine oil is the most popular product in the aging Colombian CV fleet as it is consumed in significant amounts and changed more frequently than other product categories.
- Fastest Segment by Product Type - Transmission & Gear Oils : The consumption of transmission oils is expected to expand faster than other product types in Colombia due to the growing penetration of automatic pick-up trucks.
Colombia Commercial Vehicles Lubricants Market Trends
Largest Segment By Product Type : Engine Oils
- In Colombia, commercial vehicles (CVs) form the second-largest vehicle type in terms of automotive lubricant consumption. During 2015-2019, lubricant consumption in the CV segment increased at a CAGR of around 1.24%, majorly due to the growing truck fleet in the country.
- The commercial vehicle lubricant consumption declined by almost 6.92% as COVID-19 affected freight transportation in 2020. The engine oil segment accounted for around 74.92% share in CV lubricant consumption in 2020. A major decline of 11.59% was observed in the consumption of greases in the CV segment during the year.
- The grease segment is expected to be the fastest-growing segment, recording a CAGR of 4.05% 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.
Colombia Commercial Vehicles Lubricants Industry Overview
The Colombia Commercial Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 83.31%. The major players in this market are Biomax, Chevron Corporation, Petromil SA, Royal Dutch Shell Plc and Terpel (sorted alphabetically).
Colombia Commercial Vehicles Lubricants Market Leaders
Biomax
Chevron Corporation
Petromil SA
Royal Dutch Shell Plc
Terpel
- *Disclaimer: Major Players sorted in no particular order
Colombia Commercial Vehicles Lubricants Market News
- 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: TotalEnergies and Stellantis renewed their commercial partnership for the Peugeot, Citroen, and DS Automobiles brands for the next five years until 2026.
- 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.
