The Vietnam commercial vehicles lubricants market attained a volume of 50.88 Million Liters in 2025. The industry is expected to grow at a CAGR of 3.30% during the forecast period of 2026-2035 to attain a volume of 70.40 Million Liters by 2035.
Base Year
Historical Period
Forecast Period
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.
Compound Annual Growth Rate
3.3%
Value in Million Liters
2026-2035
*this image is indicative*
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 drivers supporting the demand of Vietnam commercial vehicles lubricants market.
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 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.
Increased commercial vehicle sales, rising import, along with a growing preference for sustainable lubricants are increasing the Vietnam commercial vehicles lubricants market value.
The growth of the Vietnam commercial vehicles lubricants market is driven by the country’s increasing commercial vehicle sales. According to the Vietnam Automobile Manufacturers Association (VAMA), commercial vehicle sales in May 2024 recorded a year-on-year growth of 6.1%. As the sales volume rises further in the coming years, the commercial vehicle lubricant segment is expected to register positive growth.
Commercial vehicles such as pickup trucks, ships, and marine vessels are commonly used to carry shipments traded as imports and exports. Thus, an increase in export and import trade is expected to positively impact the market for commercial vehicle lubricants. According to the Vietnam Customs Office, the country’s import-export trade in June 2023 grew by 3.2% from the preceding month. The value is estimated to grow in the coming months of the forecast period.
Increasing B2B e-commerce sales within the country is creating several Vietnam commercial vehicles lubricants market opportunities. According to the Federation of Business Information Services, Vietnam is expected to become the fastest-growing e-commerce market in Southeast Asia by 2026, with a gross merchandise value estimated to reach USD 56 billion. The growth of e-commerce sales will increase transportation using commercial vehicles, driving the commercial vehicle lubricants market growth.
Growing concerns over environmental stability are increasing the demand for sustainable commercial vehicle lubricants such as bio-based, mineral-based, and synthetic engine oils. According to Vietnam commercial vehicles lubricants industry analysis, major industry players are increasingly investing in the research and development of sustainable lubricants. As the trend continues to grow, the market is expected to witness significant revenue growth.
“Vietnam Commercial Vehicles Lubricants Market Report and Forecast 2026-2035” offers a detailed analysis of the market based on the following segments:
Market Breakup by Product Type
Market Breakup by Region
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.
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.
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The market is estimated to grow at a CAGR of 3.30% between 2026 and 2035.
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.
In 2025, the market attained a volume of nearly 50.88 Million Liters.
The market is estimated to witness a healthy growth in the forecast period of 2026-2035 to reach about 70.40 Million Liters by 2035.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| 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 |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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