Egypt Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

Egypt Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Egypt Lubricants Market size is estimated at 612.22 Million liters in 2024, and is expected to reach 665.73 Million liters by 2029, growing at a CAGR of 1.69% during the forecast period (2024-2029).

In 2020, COVID-19 had a negative influence on the market. Due to the pandemic situation, the country was put under lockdown, causing individuals to reduce their use of personal automobiles and other modes of transportation, lowering demand for automotive lubricants. However, later in 2022, the market is experiencing a recovery phase.

The growing demand from the construction industry for rapid infrastructure development is driving the market growth.

Further, volatility in crude oil prices and increasing usage of counterfeit products are expected to hinder market growth.

Increasing demand from the wind energy sector is likely to provide a significant growth opportunity for the market studied during the forecasted period.

Egypt Lubricants Market Trends

Increasing Demand for Engine Oil

• Engine Oils are typically used for applications such as wear reduction, corrosion protection, and smooth operation of engine internals. It functions by creating a thin film between the moving parts to enhance the transfer of heat and reduce tension during the contact of parts.
• According to the OICA (), Egypt's motor vehicle sales recorded 133 857 units in 2022 and registered growth when compared with 215 072 units in the previous year.
• According to CAPMAS (Egypt), the number of licensed private cars and motorcycles reached 5,111,892 and 2,694,784, respectively, in 2022.
• High-mileage engine oil is in high demand at present, owing to the properties that help prevent oil leaks and reduce oil consumption.
• Over the past years, automobile production has increased in the country, resulting in the rise of engine oil sales.
• With the factors mentioned above are expected to contribute to the demand for engine oils in the automotive industry.

Power Generation Segment to Witness Lucrative Growth Rate

• Power generation is one of the most critical sectors, without which almost all manufacturing operations may cease. In Egypt, the overall production of all-electric energy-generating facilities is 184 billion kWh, accounting for 115 percent of the country's consumption.
• The country has seen rapid growth in the consumption of electricity over the past years. According to World Darta, the country consumes over 159 billion kWh of electricity per year.
• According to the International Renewable Energy Agency (IRENA), As of 2022, the total renewable energy capacity in Egypt amounted to 6,322 megawatts. This represented an increase of roughly 1.02 percent from the preceding year.
• Similarly, according to CAPMAS (Egypt), as of April 2022, electricity consumed by individuals in their homes represented 37.6 percent of the consumed electricity in the country. The industrial sector followed, with a share of almost 30.4 percent. Furthermore, public utilities and governmental agencies were the third largest electricity-consuming sector in the country.
• Humidity, high pressure, high loads, vibrations, and temperature are all variables that affect turbines, transformers, and stationary engines. Gear and turbine oils are commonly utilized for lubrication in this industry. Lubrication can save a lot of money by preventing bearings from wearing out and failing prematurely.
• The factors mentioned above are likely to drive the market for lubricants in Egypt's power generation sector.

Egypt Lubricants Industry Overview

Egypt's lubricants market is highly consolidated among the top six players. The top companies have been utilizing competitive strategies and investments to retain and expand their shares. Key players, namely ExxonMobil Corporation, Co-operative Soceite des Petroleum (Copetrole), Misr Petroleum Company, Royal Dutch Shell PLC, and Total, account for more than 80% of the market studied.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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