Market Trends of Morocco Automotive Engine Oils Industry
This section covers the major market trends shaping the Morocco Automotive Engine Oils Market according to our research experts:
Largest Segment By Vehicle Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Passenger Vehicles</span>
- Engine oils accounted for about 75% of the overall automotive lubricants in Morocco in 2020. During 2015-2019, engine oil consumption increased at a CAGR of over 6%. The growing active vehicle fleet in the country was the key driver for this trend.
- In 2020, the COVID-19 outbreak led to a massive decline in the usage rate of the existing vehicle fleets in the country, which led to a 1.75% dip in engine oil consumption. The commercial vehicle (CV) segment recorded the largest decline of 4.1% in engine oil consumption during 2019.
- During 2021-2026, the motorcycles segment is expected to register the highest growth of 9.4% in engine oil consumption, followed by the PV segment (5.69%). The growth in the motorcycles segment is likely to be driven by the country's strong demand for mopeds and motorcycles over the next five years.
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