Market Trends of Africa Automotive Engine Oils Industry
This section covers the major market trends shaping the Africa Automotive Engine Oils Market according to our research experts:
Largest Segment By Vehicle Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Commercial Vehicles</span>
- Engine oils are the most used automotive lubricants among all the product types. During 2015-2019, the automotive engine oil consumption in the African region increased at a CAGR of 1.75%. In 2020, engine oils accounted for around 79% of the total automotive lubricant consumption volume in the region.
- In 2020, the COVID-19 outbreak resulted in a huge decline in the usage of the existing African fleet due to a fall in business activities. As a result, engine oil consumption in the region decreased by around 5% during 2019-2020.
- Along with the expected recovery in sales and production of automobiles, an increase in the penetration of electric vehicles is expected to have a slight impact on engine oil consumption. Considering these factors, engine oil consumption is expected to register a CAGR of 4% during 2021-2026.
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Largest Country : <span style="font-family: 'regular_bold';color:#0e7db3;">Egypt</span>
- During 2015-2019, automotive engine oil consumption in Africa increased at a CAGR of around 1.75%. Egypt was the leading consumer of automotive engine oils in the region, accounting for 30% of the total consumption in 2020.
- Travel restrictions imposed after the COVID-19 outbreak restricted engine oil consumption across the region in 2020. South Africa was the most affected, as it witnessed an 8.5% drop in consumption during 2019-2020, followed by Egypt, which saw a decline of over 8%.
- Morocco is likely to be the fastest-growing engine oil market. The consumption will likely register a CAGR of 5.71%, followed by South Africa and Egypt, which are expected to register a CAGR of 3.46% and 3.1%, respectively, during 2021-2026. The expected recovery in automotive sales and production from 2021 is anticipated to drive this growth.
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