Japan Commercial Vehicles Lubricants Market

Japan Commercial Vehicles Lubricants Market Analysis

The Japan Commercial Vehicles Lubricants Market size is estimated at 265.54 million liters in 2025, and is expected to reach 288.32 million liters by 2030, at a CAGR of 1.66% during the forecast period (2025-2030).

• Largest Segment by Product Type - Engine Oils : Engine oil is the leading product type due to its high volume requirements and shorter drain intervals, making it ideal for high-temperature and high-pressure applications.
• Fastest Segment by Product Type - Hydraulic Fluids : The expected recovery of commercial vehicle sales and production in Japan from 2021 is expected to drive the demand for hydraulic fluids during the forecast period.

Japan Commercial Vehicles Lubricants Market Trends

Largest Segment By Product Type : Engine Oils

• In Japan, commercial vehicles formed the second largest segment and accounted for 48.3% of lubricant consumption. During 2015-2019, lubricant consumption in the commercial vehicle segment declined at a CAGR of 2.64% due to the high rate of phasing out of older trucks, which led to a decline in the on-road population of commercial vehicles.
• In 2020, commercial vehicle lubricant consumption declined by 12.28% as the COVID-19 pandemic affected production. In terms of lubricant consumption by commercial vehicles, engine oil accounted for a 61.79% share, followed by greases (16.14%) and transmission oils (11.99%). A major dip of 13.54% was observed in the consumption of transmission oils by commercial vehicles during the year.
• During 2021-26, the hydraulic fluids segment is likely to be the fastest-growing segment, recording a CAGR of 2.24%. This growth is likely to be driven by the rise in freight transportation activities and the penetration of electric trucks in the market.

Japan Commercial Vehicles Lubricants Industry Overview

The Japan Commercial Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 94.73%. The major players in this market are Cosmo Energy Holdings Co. Ltd, ENEOS Corporation, ExxonMobil Corporation, Idemitsu Kosan Co. Ltd and Royal Dutch Shell Plc (sorted alphabetically).

Japan Commercial Vehicles Lubricants Market Leaders

Japan 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.
• March 2021: Hyundai Motor Company and Royal Dutch Shell PLC announced a five-year global business cooperation agreement, with a new focus on clean energy and carbon reduction, to help Hyundai continue its transformation as a Smart Mobility Solution Provider.
• February 2021: Royal Dutch Shell PLC introduced a global portfolio of carbon-neutral lubricants for a wide range of automotive and industrial applications to control carbon emissions.