Market Trends of germany lubricants Industry
This section covers the major market trends shaping the Germany Lubricants Market according to our research experts:
Largest Segment By End User : Automotive
- In 2020, the German lubricants market was dominated by the automotive industry, which accouted for around 43.26% of the total lubricant conusmption in the country. During 2015-2019, the lubricant consumption in the automotive industry declined by a CAGR of 0.39%.
- In 2020, COVID-19 related restrictions led to declined maintenance requirments from several industries. The major impact was observed in the automotive industry, which recorded a dip of 16.82%, followed by heavy equipment (11.35%), during the year.
- Heavy equipment is likely to be the fastest-growing end-user industry of the market studied, and it is expected to register a CAGR of 2.1% during 2021-2026, followed by automotive (1.88%). The expected recovery in the sales of and usage of construction equipment is likely to drive the consumption of lubricants during the next five years.
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