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Vietnam Commercial Vehicle Lubricants Market Size, Share: By Product Type: Engine Oils, Greases, Hydraulic Fluids, Transmission and Gear Oils; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Vietnam Commercial Vehicle Lubricants Market Size
The Vietnam commercial vehicle lubricants market is projected to grow at a CAGR of 5.80% between 2024 and 2032.
Vietnam Commercial Vehicle Lubricants Market Outlook
- The commercial car sales of the Vietnam Automobile Manufacturers' Association witnessed a growth of 6.1 per cent in May 2024, which fuels the demand for commercial car lubricants.
- The Vietnamese government aims to boost EV production, so it can account for around 10 per cent of total car sales in 2030, which can further fuel the growth of commercial EV lubricants in the country.
- There is a rising demand for bio-based lubricants made from plant seeds or animal feeds to combat the growing environmental pollution in the country.
Vietnam Commercial Vehicle Lubricants Market Growth
The rapid growth of e-commerce and logistics fuelling the demand for commercial fleets, the expansion of the industrial sector boosting the growth of commercial automobiles for transporting raw materials and goods, and stringent government regulations necessitating the need for low-emission lubricants are some of the major market drivers.
The surge of public and private commercial vehicle fleets such as trucks, buses, and delivery vans, requires a steady supply of lubricants for their effective operation. Moreover, fleet managers are placing more emphasis on fuel efficiency and emission control in order to meet environmental standards and cut down on operational expenses, which has boosted the demand for high-performance lubricants that can improve fuel efficiency and decrease emissions.
Vietnam Commercial Vehicle Lubricants Market Segmentation
“Vietnam Commercial Vehicle Lubricants Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Product Type
- Engine Oils
- Greases
- Hydraulic Fluids
- Transmission and Gear Oils
Market Breakup by Region
- Southeast
- Red River Delta
- Mekong River Delta
- South Central Coast
- Others
Vietnam Commercial Vehicle Lubricants Market Share
Based on product type, the market is divided into engine oils, greases, hydraulic fluids, and transmission and gear oils. Engine oils occupy a significant market share as they are essential in maintaining fuel efficiency and minimising emissions, which are some of the major priorities for fleet operators in Vietnam. Additionally, the demand for greases is anticipated to grow due to their rising applications in wheel bearings and chassis components.
Leading Companies in the Vietnam Commercial Vehicle Lubricants Market
The market players are developing advanced lubricants that offer better mileage and enhance the longevity of the vehicle components to gain a competitive edge in the market.
- Shell Plc
- TotalEnergies SE
- Exxon Mobil Corp.
- Motul S.A.
- Chevron Corp.
- BP Plc
- Petrolimex Petrochemical Corporation
- AP SAIGON PETRO
- MEKONG PETROCHEMICAL JSC
- Phuc Thanh Trading & Manufacturing Co. (Nikko Lubricant Vietnam)
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Commercial Vehicles Lubricants Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Commercial Vehicles Lubricants Historical Market (2018-2023)
8.3 Asia Pacific Commercial Vehicles Lubricants Market Forecast (2024-2032)
9 Vietnam Commercial Vehicles Lubricants Market Overview
9.1 Key Industry Highlights
9.2 Vietnam Commercial Vehicles Lubricants Historical Market (2018-2023)
9.3 Vietnam Commercial Vehicles Lubricants Market Forecast (2024-2032)
10 Vietnam Commercial Vehicles Lubricants Market by Product Type
10.1 Engine Oils
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Greases
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Hydraulic Fluids
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Transmission and Gear Oils
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
11 Vietnam Commercial Vehicles Lubricants Market by Region
11.1 Southeast
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Red River Delta
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Mekong River Delta
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 South Central Coast
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Others
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyer’s Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Shell Plc
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 TotalEnergies SE
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 Exxon Mobil Corp.
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 Motul S.A.
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Chevron Corp.
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 BP Plc
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Petrolimex Petrochemical Corporation
13.2.7.1 Company Overview
13.2.7.2 Product Portfolio
13.2.7.3 Demographic Reach and Achievements
13.2.7.4 Certifications
13.2.8 Ap Saigon Petro JSC
13.2.8.1 Company Overview
13.2.8.2 Product Portfolio
13.2.8.3 Demographic Reach and Achievements
13.2.8.4 Certifications
13.2.9 Mekong Petrochemical JSC
13.2.9.1 Company Overview
13.2.9.2 Product Portfolio
13.2.9.3 Demographic Reach and Achievements
13.2.9.4 Certifications
13.2.10 Phuc Thanh Trading & Manufacturing Co. (Nikko Lubricant Vietnam)
13.2.10.1 Company Overview
13.2.10.2 Product Portfolio
13.2.10.3 Demographic Reach and Achievements
13.2.10.4 Certifications
13.2.11 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Commercial Vehicles Lubricants Market: Key Industry Highlights, 2018 and 2032
2. Vietnam Commercial Vehicles Lubricants Market: Key Industry Highlights, 2018 and 2032
3. Vietnam Commercial Vehicles Lubricants Historical Market: Breakup by Product Type (USD Million), 2018-2023
4. Vietnam Commercial Vehicles Lubricants Market Forecast: Breakup by Product Type (USD Million), 2024-2032
5. Vietnam Commercial Vehicles Lubricants Historical Market: Breakup by Region (USD Million), 2018-2023
6. Vietnam Commercial Vehicles Lubricants Market Forecast: Breakup by Region (USD Million), 2024-2032
7. Vietnam Commercial Vehicles Lubricants Market Structure
Key Questions Answered in the Report
The market is estimated to grow at a CAGR of 5.80% between 2024 and 2032.
The market is being driven due to rapid growth of e-commerce and logistics fuelling the demand for commercial fleets, the expansion of the industrial sector, and stringent government regulations necessitating the need for low-emission lubricants.
The key trends aiding the market include a surge of public and private commercial vehicle fleets such as trucks and greater emphasis on fuel efficiency and emission control in order to meet environmental standards.
Regions considered in the market are Southeast, Red River Delta, Mekong River Delta, and South Central Coast, among others.
Based on product type, market segmentations include engine oils, greases, hydraulic fluids, and transmission and gear oils.
The major players in the market are Shell Plc, TotalEnergies SE, Exxon Mobil Corp., Motul S.A., Chevron Corp., BP Plc, Petrolimex Petrochemical Corporation, AP SAIGON PETRO, MEKONG PETROCHEMICAL JSC¸ and Phuc Thanh Trading & Manufacturing Co. (Nikko Lubricant Vietnam), among others.
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