Saudi Arabia Passenger Vehicles Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2015 - 2026

Saudi Arabia Passenger Vehicles Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2015 - 2026

The Saudi Arabia Passenger Vehicles Lubricants Market size is estimated at 212.44 Million Liters in 2024, and is expected to reach 226.08 Million Liters by 2026, growing at a CAGR of 3.16% during the forecast period (2024-2026).

Key Highlights

• Largest Segment by Product Type - Engine Oils : Engine oil is the leading product type due to its high volume requirements and shorter drain intervals, as it is used in high-temperature and high-pressure applications.
• Fastest Segment by Product Type - Transmission Oils : The expected recovery of passenger car sales in Saudi Arabia from 2021 is likely to drive the demand for transmission oils in the country over the next few years.

Saudi Arabia Passenger Vehicles Lubricants Market Trends

Largest Segment By Product Type : Engine Oils

• In Saudi Arabia, passenger vehicles (PVs) is the second-largest vehicle type in terms of automotive lubricant consumption. During 2015-2019, the PV lubricant consumption grew at a CAGR of 2.8%, primarily owing to the surge in the high-powered engine car popualtion in the country.
• In 2020, PVs accounted for about 52% of the total automotive lubricant consumption in the country. Engine oil accounted for the largest share in the PV lubricant consumption, with a share of around 89% during the year. During 2020, PV lubricants consumption declined by 6.8% due to the lower usage of the vehicle fleet post COVID-19 outbreak.
• During the next five years, the transmission oils segment is likely to be the fastest-growing segment with a CAGR of 4.94%. This growth is likely to be driven by rise in sales of passenger cars and recovery in average distance travelled in the country.

Saudi Arabia Passenger Vehicles Lubricants Industry Overview

The Saudi Arabia Passenger Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 76.24%. 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