Market Trends of Morocco Passenger Vehicles Lubricants Industry
This section covers the major market trends shaping the Morocco 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 vehicles (PVs) are the largest segment in terms of automotive lubricant consumption in Morocco. During 2015-2019, the PV lubricant consumption expanded a CAGR of 6%, primarily due to a surge in the car population in the country.
- In 2020, PVs accounted for about 52% of the total automotive lubricant consumption in the country. Engine oil accounted for the largest share in PV lubricant consumption, i.e., over 82%, during the year. During 2020, PV lubricant consumption declined by 2.6% due to lower usage of the vehicle fleet post the COVID-19 outbreak.
- During 2021-2026, the greases segment is projected to register a healthy CAGR of 7.82%, likely to be driven by the recovery of passenger car production and average distance traveled in the country.
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