Lubricant Sales in the Off-Highway Equipment Market in Canada will Reach 108,000 Metric Tons in 2021

Canada is the sixth largest market for off-highway equipment lubricants in the world

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Feb 26, 2018, 09:00 ET

CLEVELAND, Feb. 26, 2018 /PRNewswire/ -- Lubricant sales in the Canadian off-highway equipment market are anticipated to rise 1.1% per year from 102,000 metric tons in 2016 to 108,000 metric tons in 2021. Canada is an intensive user of off-highway equipment due to the massive size of the country's construction, agricultural, and mining sectors. The degree of mechanization in its farming and construction industries and long winters make Canada the sixth largest market for off-highway equipment lubricants in the world. These and other trends are presented in Automotive Lubricants Market in Canada, a new study from The Freedonia Group, a Cleveland-based industry research firm.

More information about this study is here: https://www.freedoniagroup.com/industry-study/automotive-lubricants-in-canada-by-market-product-and-formulation-3621.htm

Lubricant sales gains through 2021 will result from such factors as:

acceleration in construction spending from the 2011-2016 pace
increase in the total area harvested
growth in domestic mining output

Conventional formulations will continue to account for the overwhelming majority of lubricant demand for off-highway equipment. Like medium and heavy vehicles, off-highway equipment engines rely on high-viscosity lubricants to operate, keeping drain intervals relatively short and limiting demand for synthetic formulations.

The overall market for automotive lubricants in Canada is forecast to decline through 2021. Key factors challenging market performance include the use of technologically advanced vehicle engines and high quality lubricant formulations that continue to lengthen drain intervals, stagnant vehicle ownership rates and flatness in medium and heavy vehicle park, and falling motor vehicle production.

However, a weaker performance will be prevented by expansion in the country's off-highway market, as well as by increases in the average annual distance traveled per vehicle.

Related studies include:

#3607 Automotive Lubricants Markets in the UK (January 2018)
#3600 Automotive Lubricants Market in Malaysia (January 2018)
#3583 Global Automotive Lubricants (December 2017)

About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Automotive & Transport studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.

Press Contact:
Corinne Gangloff
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SOURCE The Freedonia Group