South America Commercial Vehicles Lubricants Market Analysis
The South America Commercial Vehicles Lubricants Market size is estimated at 800.50 million liters in 2025, and is expected to reach 935.68 million liters by 2030, at a CAGR of 3.17% during the forecast period (2025-2030).
- Largest Segment by Product Type - Engine Oils : Engine oil is the leading product type in the region due to high volume requirements and shorter drain intervals as it has high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Greases : The expanding business and infrastructure activities, supported by the average travel rates, will likely support the grease demand at a healthy rate in the coming years.
- Largest Country Market - Brazil : Brazil, owing to its vast industrial and commercial activities, is the leading market for commercial vehicle population as well as lubricant demand in the region.
- Fastest Growing Country Market - Argentina : Argentina's CV population is expected to record a CAGR of over 3.5% during 2021-26, driving the commercial vehicles lubricants market at a faster pace than other countries.
South America Commercial Vehicles Lubricants Market Trends
Largest Segment By Product Type : Engine Oils
- During 2015-2019, lubricant consumption in the Middle Eastern commercial vehicle sector increased at a CAGR of 1.33%. Engine oil was the dominating lubricant product type in this sector, which accounted for a share of 73% of lubricant consumption in this sector in 2020. Engine oil is followed by hydraulic fluid, which accounted for 11.6% of lubricant consumption in 2020.
- Owing to the COVID-19 outbreak in 2020, freight transportation significantly dropped due to the lockdowns put in place as a response to the pandemic. Hence, lubricant consumption in this sector fell by over 5.2% in comparison to 2019.
- The projected boom in logistic requirements and the recovery in sales of new commercial vehicles are likely to drive lubricant consumption in this sector. Hence, commercial vehicle lubricant consumption is likely to grow, recording a CAGR of 3.01% during 2021-2026.
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Largest Country : Brazil
- In the South American region, commercial vehicle (CV) lubricant consumption is the highest in Brazil, followed by Argentina and Colombia. In 2020, Brazil accounted for 56% of the total consumption of CV lubricants in the region, whereas Colombia and Argentina accounted for 22.45% and 13.2%, respectively.
- The restrictions imposed on business and transportation activities after the COVID-19 outbreak negatively affected the CV lubricant consumption across the region in 2020. Colombia was the most affected as it witnessed a 6.92% drop in consumption during 2019-2020, followed by Brazil, which witnessed a 5.6% drop.
- During 2021-2026, Argentina is expected to be the fastest-growing CV lubricant market as the consumption is anticipated to rise, recording a CAGR of 4.66%, followed by Colombia and Brazil, which are expected to record a CAGR of 3.25% and 3.21%, respectively.
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South America Commercial Vehicles Lubricants Industry Overview
The South America Commercial Vehicles Lubricants Market is moderately consolidated, with the top five companies occupying 61.78%. The major players in this market are ExxonMobil Corporation, Iconic Lubrificantes, Petrobras, Royal Dutch Shell Plc and Terpel (sorted alphabetically).
South America Commercial Vehicles Lubricants Market Leaders
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ExxonMobil Corporation
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Iconic Lubrificantes
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Petrobras
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Royal Dutch Shell Plc
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Terpel
- *Disclaimer: Major Players sorted in no particular order
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South America 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: Ipiranga stations in Brazil began offering Texaco lubricants, a brand long recommended by major automakers in Brazil and worldwide, over the whole network.
- July 2021: Gulf Oil reached the 80 service station mark in Argentina through which it sells its lubricant products to its customers.
South America Commercial Vehicles Lubricants Industry Segmentation
| By Product Type | Engine Oils |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils | |
| By Country | Argentina |
| Brazil | |
| Colombia | |
| Rest of South America |
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South America Commercial Vehicles Lubricants Market Research FAQs
How big is the South America Commercial Vehicles Lubricants Market?
The South America Commercial Vehicles Lubricants Market size is expected to reach 800.50 million Liters in 2025 and grow at a CAGR of 3.17% to reach 935.68 million Liters by 2030.
What is the current South America Commercial Vehicles Lubricants Market size?
In 2025, the South America Commercial Vehicles Lubricants Market size is expected to reach 800.50 million Liters.
Who are the key players in South America Commercial Vehicles Lubricants Market?
ExxonMobil Corporation, Iconic Lubrificantes, Petrobras, Royal Dutch Shell Plc and Terpel are the major companies operating in the South America Commercial Vehicles Lubricants Market.
What years does this South America Commercial Vehicles Lubricants Market cover, and what was the market size in 2024?
In 2024, the South America Commercial Vehicles Lubricants Market size was estimated at 775.12 million Liters. The report covers the South America Commercial Vehicles Lubricants Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the South America Commercial Vehicles Lubricants Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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South America Commercial Vehicles Lubricants Industry Report
Statistics for the 2025 South America Commercial Vehicles Lubricants market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. South America Commercial Vehicles Lubricants analysis includes a market forecast outlook for 2025 to 2030) and historical overview. Get a sample of this industry analysis as a free report PDF download.
