Saudi Arabia Automotive Engine Oils - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2015 - 2026
The Saudi Arabia Automotive Engine Oils Market size is estimated at 351.45 Million Liters in 2024, and is expected to reach 366.77 Million Liters by 2026, growing at a CAGR of 2.16% during the forecast period (2024-2026).
Key Highlights
- Largest Segment by Vehicle Type - Passenger Vehicles : The average engine oil capacity of heavy-duty trucks and buses was higher, resulting in the commercial vehicle sector dominating the engine oil consumption in Saudi Arabia.
- Fastest Segment by Vehicle Type - Motorcycles : Following the COVID-19 outbreak, there has been a dramatic increase in used motorcycle sales in Saudi Arabia, in turn driving engine oil consumption in the motorcycle market.
Saudi Arabia Automotive Engine Oils Market Trends
Largest Segment By Vehicle Type : Passenger Vehicles
- In Saudi, engine oils accounted for about 88.6% of automotive lubricants in 2020. During 2015-2019, engine oil consumption increased at a CAGR of around 2.5%. 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 7.2% dip in engine oil consumption. Commercial vehicle (PV) segment recorded the largest decline of 7.39% in engine oil consumption during the year.
- During 2021-2026, the motorcycles segment is expected to register highest growth of about 3.43% in the engine oil consumption, followed by PV segment (2.97%). The growth is likely to be driven by increasing demand for mopeds and motorcycles in the country over the next five years.
Saudi Arabia Automotive Engine Oils Industry Overview
The Saudi Arabia Automotive Engine Oils Market is fairly consolidated, with the top five companies occupying 77.75%. The major players in this market are BP PLC (Castrol), ExxonMobil Corporation, FUCHS, Petromin Corporation and Royal Dutch Shell PLC (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 AMSOIL Inc.
- 5.3.2 BP PLC (Castrol)
- 5.3.3 CHEVRON CORPORATION
- 5.3.4 Eni SpA
- 5.3.5 ExxonMobil Corporation
- 5.3.6 FUCHS
- 5.3.7 Petromin Corporation
- 5.3.8 PETRONAS Lubricants International
- 5.3.9 Royal Dutch Shell PLC
- 5.3.10 TotalEnergies
- 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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