Market Trends of Egypt Passenger Vehicles Lubricants Industry
This section covers the major market trends shaping the Egypt Passenger Vehicles Lubricants Market according to our research experts:
Largest Segment By Product Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Engine Oils</span>
- Passenger vehicle (PV) is the second-largest segment in terms of automotive lubricant consumption in Morocco. During 2015-2019, the PV lubricant consumption witnessed a CAGR of 1.9%, primarily due to the country's car population surge.
- In 2020, PVs accounted for about 23.5% of the country's total automotive lubricant consumption. Engine oils accounted for the largest share in PV lubricant consumption, with a share of over 88%. During 2020, PV lubricants consumption declined by 8.2% due to the lower usage of the vehicle fleet post-COVID-19 outbreak.
- The transmission oil segment is projected to grow steadily, exhibiting a CAGR of 5.7% during 2021-2026. This growth is likely to be driven by the recovery of passenger car production and a recovery in average distance traveled in the country.
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