Saudi Arabia Automotive Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2015 - 2026
The Saudi Arabia Automotive Lubricants Market size is estimated at 399.93 Million Liters in 2024, and is expected to reach 419.03 Million Liters by 2026, growing at a CAGR of 2.36% during the forecast period (2024-2026).
Key Highlights
- Largest Segment by Vehicle Type - Passenger Vehicles : Saudi Arabia's commercial vehicle industry has the largest lubricant consumption owing to the country' high average lubricant requirements and the presence of older trucks.
- Fastest Segment by Vehicle Type - Motorcycles : Post the rebound in economic and business activity, the rising sales and usage of motorcycles are expected to boost the demand for motorcycle lubricants in Saudi Arabia.
- Largest Segment by Product Type - Engine Oils : Engine oils form the leading product type due to their high volume requirements and shorter drain intervals. They are used in high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Transmission & Gear Oils : In Saudi Arabia, the demand for transmission oilsis likely grow in the future due to the growing adoption of automatic transmissions in passenger and commercial vehicles.
Saudi Arabia Automotive Lubricants Market Trends
Largest Segment By Vehicle Type : Passenger Vehicles
- In Saudi Arabia, passenger vehicles (PV) accounted for the largest share of 71.04% in the total number of on-road vehicles in 2020, followed by commercial vehicles (CV) and motorcycles (MC), with a share of 28.23% and 0.73%, respectively.
- The PV segment accounted for the highest share of around 52% in total automotive lubricant consumption in 2020, followed by CV (48%) and MC (0.09%), respectively. In 2020, COVID-19 outbreak led to notable dip in lubricants consumption, where CV lubricant consumption recorded highest dip of 7.3%, followed by PV (6.84%) and MC (5.57%).
- The motorcycle segment is projected to be the fastest-growing lubricant consumer, with a CAGR of 3.39% over the period 2021-2026. The growth is expected to be driven by recovery in the sales and average annual distance travelled by motorcycles during the coming years.
Saudi Arabia Automotive Lubricants Industry Overview
The Saudi Arabia Automotive Lubricants Market is fairly consolidated, with the top five companies occupying 77.78%. 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 Type
- 4.2.1 Engine Oils
- 4.2.2 Greases
- 4.2.3 Hydraulic Fluids
- 4.2.4 Transmission & Gear Oils
- 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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