Market Size of Israel Lubricants Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 38.84 Million liters |
| Market Volume (2029) | 51.56 Million liters |
| CAGR (2024 - 2029) | > 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Israel Lubricants Market Analysis
The Israel Lubricants Market size is estimated at 38.84 Million liters in 2024, and is expected to reach 51.56 Million liters by 2029, growing at a CAGR of greater than 5% during the forecast period (2024-2029).
The COVID-19 pandemic negatively impacted the market. COVID-19-related restrictions led to declined maintenance requirements from several industries, such as oil and gas, automotive, metallurgy, etc. The major impact was observed in the automotive industry. Currently, the market has recovered from the pandemic. The market reached pre-pandemic levels in 2022 and is expected to grow steadily in the future.
The growing automotive imports in the country and increasing demand from the power generation sector have been driving the market growth during the forecast period.
However, the instability in base oil prices is anticipated to hinder the growth of the studied market.
Moreover, the rising penetration of electric vehicles to enhance the sales of EV fluids is likely to provide opportunities for the market over the next five years.
The automotive sector is likely to be the largest end-user owing to the increasing use of vehicles in the country.
