Market Trends of Egypt Commercial Vehicles Lubricants Industry
This section covers the major market trends shaping the Egypt Commercial Vehicles Lubricants Market according to our research experts:
Largest Segment By Product Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Engine Oils</span>
- In Egypt, commercial vehicles (CV) form the largest segment in terms of automotive lubricant consumption. During 2015-2019, lubricant consumption recorded a CAGR of around 1.8% in the CV segment. The growth was majorly driven by the growing freight transportation activities in the country.
- The commercial vehicle lubricant consumption declined by 8.1% as the COVID-19 pandemic affected freight transportation in 2020. While the engine oil segment accounts for more than a 90% share in CV lubricant consumption, a significant decline of 10.56% was observed in the consumption of greases by the CV segment during the year.
- During 2021-2026, the greases segment is likely to be the fastest-growing product type, exhibiting a CAGR of 5.4%. The recovery in usage and production of commercial vehicles is likely to drive the consumption of greases over the coming years.
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