Morocco Automotive Engine Oils - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2015 - 2026
The Morocco Automotive Engine Oils Market size is estimated at 71.64 Million Liters in 2024, and is expected to reach 79.98 Million Liters by 2026, growing at a CAGR of 5.66% during the forecast period (2024-2026).
Key Highlights
- Largest Segment by Vehicle Type - Passenger Vehicles : Morocco's passenger vehicle (PV) fleet consumes more than half of the country's engine oil, with 3.1 million units of PVs, and it has high engine oil replacement frequencies.
- Fastest Segment by Vehicle Type - Motorcycles : Morocco is expected to have the fastest increase in demand for motorcycle engine oil, owing to a strong rebound in low-cost motorcycle sales and increased travel rates.
Morocco Automotive Engine Oils Market Trends
Largest Segment By Vehicle Type : Passenger Vehicles
- Engine oils accounted for about 75% of the overall automotive lubricants in Morocco in 2020. During 2015-2019, engine oil consumption increased at a CAGR of over 6%. The growing active vehicle fleet in the country was the key driver for this trend.
- In 2020, the COVID-19 outbreak led to a massive decline in the usage rate of the existing vehicle fleets in the country, which led to a 1.75% dip in engine oil consumption. The commercial vehicle (CV) segment recorded the largest decline of 4.1% in engine oil consumption during 2019.
- During 2021-2026, the motorcycles segment is expected to register the highest growth of 9.4% in engine oil consumption, followed by the PV segment (5.69%). The growth in the motorcycles segment is likely to be driven by the country's strong demand for mopeds and motorcycles over the next five years.
Morocco Automotive Engine Oils Industry Overview
The Morocco Automotive Engine Oils Market is fairly consolidated, with the top five companies occupying 66.47%. The major players in this market are Afriquia, OLA Energy, Petrom, Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
- 1 Executive Summary & Key Findings
- 2 Introduction
- 2.1 Study Assumptions & Market Definition
- 2.2 Scope of the Study
- 2.3 Research Methodology
- 3 Key Industry Trends
- 3.1 Automotive Industry Trends
- 3.2 Regulatory Framework
- 3.3 Value Chain & Distribution Channel Analysis
- 4 Market Segmentation
- 4.1 By Vehicle Type
- 4.1.1 Commercial Vehicles
- 4.1.2 Motorcycles
- 4.1.3 Passenger Vehicles
- 4.2 By Product Grade
- 5 Competitive Landscape
- 5.1 Key Strategic Moves
- 5.2 Market Share Analysis
- 5.3 Company Profiles
- 5.3.1 Afriquia
- 5.3.2 FUCHS
- 5.3.3 Motul
- 5.3.4 OLA Energy
- 5.3.5 Petrom
- 5.3.6 Petromin Corporation
- 5.3.7 Royal Dutch Shell Plc
- 5.3.8 TotalEnergies
- 5.3.9 Winxo
- 5.3.10 Ziz Lubrifiants
- 6 Appendix
- 6.1 Appendix-1 References
- 6.2 Appendix-2 List of Tables & Figures
- 7 Key Strategic Questions for Lubricants CEOs
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