Morocco Commercial Vehicles Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2015 - 2026

Morocco Commercial Vehicles Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2015 - 2026

The Morocco Commercial Vehicles Lubricants Market size is estimated at 44.62 Million Liters in 2024, and is expected to reach 49.87 Million Liters by 2026, growing at a CAGR of 5.72% during the forecast period (2024-2026).

Key Highlights

• Largest Segment by Product Type - Engine Oils : Engine oil is the most popular product in Moroccan CV fleets, as it is used in large quantities in heavy-duty trucks and is refilled more frequently than other product types.
• Fastest Segment by Product Type - Greases : Greases are expected to be the fastest-growing segment in Morocco's CV industry, owing to the country's expanding business activities and recovering production outputs.

Morocco Commercial Vehicles Lubricants Market Trends

Largest Segment By Product Type : Engine Oils

• In Morocco, commercial vehicles (CV) form the largest segment in terms of automotive lubricant consumption. During 2015-2019, lubricant consumption increased at a CAGR of around 5% in the CV segment. The growth was majorly driven by the growing freight transportation in the country.
• Lubricant consumption of commercial vehicles declined by 4.5% as COVID-19 affected freight transportation activity in 2020. The engine oil segment accounted for a share of 67.8% in the CV lubricant consumption during the year, a sudden decline of 4.17%.
• The greases segment is likely to be the fastest-growing product type, exhibiting a CAGR of 7.2% during 2021-2026. The recovery in usage and production of commercial vehicles will likely drive the consumption of greases in the coming years.

Morocco Commercial Vehicles Lubricants Industry Overview

The Morocco Commercial Vehicles Lubricants Market is moderately consolidated, with the top five companies occupying 62.15%. The major players in this market are Afriquia, OLA Energy, Royal Dutch Shell PLC, TotalEnergies and Winxo (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support