DUBLIN--(BUSINESS WIRE)--The "Automotive Lubricants in Canada by Market, Product and Formulation" report has been added to ResearchAndMarkets.com's offering.
This study presents historical demand data (2006, 2011, and 2016) and forecasts for 2021 by market (light vehicles, medium & heavy vehicles, off-highway equipment), product (engine oils, transmission & hydraulic fluids, gear oils & greases), and formulation (conventional, synthetic, re-refined/bio-based).
The study also evaluates company market share for industry players including:
- Exxon Mobil
- Petro-Canada (HollyFrontier)
Lengthening Drain Intervals and Weak Motor Vehicle Output Limit Sales Gains
Factors contributing to market declines include the use of modern vehicles with advanced engine technologies that contribute to longer lubricant drain intervals. Slow growth in the motor vehicle park, as well as declining motor vehicle production, will also restrict lubricant demand. However, growth is expected for off-highway equipment lubricants, supported by expansion in the country’s construction, agriculture, and mining sectors.
Advanced Engine Technologies Limit Aftermarket Lubricant Demand
As an affluent nation with a modern vehicle park, Canada sees intensive use of motor vehicles with advanced engine technologies that not only offer enhanced fuel efficiency, but also consistently extended average lubricant drain intervals. In addition, wealthier consumers are better able to purchase high quality synthetic lubricants that require less frequent replacement than conventional alternatives.
Lubricant use among OEMs will be limited by a downturn in the country’s motor vehicle output, particularly of light vehicles, as sales to the US slow.
Brighter Outlook for Off-Highway Equipment Lubricants Market
Off-highway equipment will be the only major automotive lubricants market in Canada to offer growth opportunities through 2021. Accelerated construction spending, combined with increased surface mining output and growth in the area of agricultural land harvested, will support more intensive use of bulldozers, excavators, tractors, and other similar machinery.
Synthetic Formulations Continue to Capture Market Share from Conventional Lubricants
Sales of synthetic lubricants are forecast to rise at a healthy pace through 2021, capturing further market share from conventional formulations, which historically dominated demand. An ongoing focus on improving fuel economy will continue to favor the switch to low viscosity synthetics.
For more information about this report visit https://www.researchandmarkets.com/research/6hp7js/canada_automotive?w=4