Nigeria Passenger Vehicles Lubricants Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2027

The Nigeria Passenger Vehicles Lubricants Market is segmented by Product Type ( Engine Oils, Greases, Hydraulic Fluids, Transmission & Gear Oils )

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Market Snapshot

https://s3.mordorlabs.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period: 2015 - 2027
https://s3.mordorlabs.com/base%20year/1629296433432_test~base_year_base_year.svg Base Year: 2021
https://s3.mordorlabs.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Product Type: Engine Oils
https://s3.mordorlabs.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Fastest Growing by Product Type: Hydraulic Fluids
https://s3.mordorlabs.com/cagr/1629296433433_test~cagr_cagr.svg CAGR: NaN %

Key Players

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Market Overview

The Nigeria Passenger Vehicles Lubricants Market stood at 74.71 million liters in 2022 and is projected to register a CAGR of NaN% to reach NaN liters in 2027.

  • Largest Segment by Product Type - Engine Oils : Since it is used in enormous amounts and replenished more frequently than other product categories, engine oil is the most popular product in Nigerian SUVs and sedans.
  • Fastest Segment by Product Type - Hydraulic Fluids : Transmission oil consumption is predicted to be the highest among all product types in the Nigerian PV sector, as penetration of automatic and used cars is expected to rise.

Scope of the Report

By Product Type
Engine Oils
Greases
Hydraulic Fluids
Transmission & Gear Oils

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Key Market Trends

Largest Segment By Product Type : Engine Oils

  • Passenger vehicles (PVs) are the second-largest segment in terms of automotive lubricant consumption in Nigeria. During 2015-2019, the PV lubricant consumption registered a CAGR of almost 1%, primarily owing to the surge in the car population of the country.
  • In 2020, PVs accounted for about 33.4% of the total automotive lubricant consumption in the country. Engine oil accounted for the largest share in PV lubricant consumption, with a share of over 81.4% during the year. During 2020, PV lubricants consumption declined by 7.8% due to the low usage of the vehicle fleet post the COVID-19 outbreak.
  • During 2021-2026, the greases segment is projected to register a steady rate exhibiting a CAGR of 2.48%. This growth is likely to be driven by the recovery of passenger car production and recovery in average distance traveled in the country.

Competitive Landscape

The Nigeria Passenger Vehicles Lubricants Market is moderately consolidated, with the top five companies occupying 64.14%. The major players in this market are 11Plc, Ardova Plc, BP Plc (Castrol), Oando PLC and TotalEnergies (sorted alphabetically).

Major Players

*Disclaimer: Major Players are sorted alphabetically

Recent Developments

  • November 2021: Ardova PLC acquired Enyo Retail & Supply Limited in 2021. This acquisition adds Enyo's 95 retail stations to Ardova's existing 450 stations, growing its portfolio to 545 stations nationwide.
  • April 2021: Total Nigeria PLC and Moove Africa signed a Memorandum of Understanding to form a partnership that would improve the welfare of Moove vehicle drivers by providing access to the fleet management system, as well as premium services and price reductions on lubricants and other services.
  • March 2021: Castrol announced the launch of Castrol ON (a Castrol e-fluid range that includes e-gear oils, e-coolants, and e-greases) to its product portfolio. This range is specially designed for electric vehicles.

Table of Contents

  1. 1. Executive Summary & Key Findings

  2. 2. Introduction

    1. 2.1 Study Assumptions & Market Definition

    2. 2.2 Scope of the Study​

    3. 2.3 Research Methodology

  3. 3. Key Industry Trends

    1. 3.1 Automotive Industry Trends

    2. 3.2 Regulatory Framework

    3. 3.3 Value Chain & Distribution Channel Analysis

  4. 4. Market Segmentation

    1. 4.1 By Product Type

      1. 4.1.1 Engine Oils

      2. 4.1.2 Greases

      3. 4.1.3 Hydraulic Fluids

      4. 4.1.4 Transmission & Gear Oils

  5. 5. Competitive Landscape

    1. 5.1 Key Strategic Moves

    2. 5.2 Market Share Analysis

    3. 5.3 Company Profiles

      1. 5.3.1 11Plc

      2. 5.3.2 A-Z Petroleum

      3. 5.3.3 Ardova Plc

      4. 5.3.4 BP Plc (Castrol)

      5. 5.3.5 Conoil Plc

      6. 5.3.6 Eterna Plc

      7. 5.3.7 MRS OIL NIGERIA PLC

      8. 5.3.8 Oando PLC

      9. 5.3.9 Royal Dutch Shell Plc

      10. 5.3.10 TotalEnergies

  6. 6. Appendix

    1. 6.1 Appendix-1 References

    2. 6.2 Appendix-2 List of Tables & Figures

  7. 7. Key Strategic Questions for Lubricants CEOs

List of Tables & Figures

    Figure 1:  

    PASSENGER VEHICLES POPULATION, NUMBER OF UNITS, NIGERIA, 2015 - 2026

    Figure 2:  

    NIGERIA PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, BY PRODUCT TYPE, 2015-2026

    Figure 3:  

    NIGERIA PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 4:  

    NIGERIA PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, ENGINE OILS, 2015-2026

    Figure 5:  

    NIGERIA PASSENGER VEHICLES LUBRICANTS MARKET, ENGINE OILS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

    Figure 6:  

    NIGERIA PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, GREASES, 2015-2026

    Figure 7:  

    NIGERIA PASSENGER VEHICLES LUBRICANTS MARKET, GREASES, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

    Figure 8:  

    NIGERIA PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, HYDRAULIC FLUIDS, 2015-2026

    Figure 9:  

    NIGERIA PASSENGER VEHICLES LUBRICANTS MARKET, HYDRAULIC FLUIDS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

    Figure 10:  

    NIGERIA PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, TRANSMISSION & GEAR OILS, 2015-2026

    Figure 11:  

    NIGERIA PASSENGER VEHICLES LUBRICANTS MARKET, TRANSMISSION & GEAR OILS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

    Figure 12:  

    NIGERIA PASSENGER VEHICLES LUBRICANTS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021

    Figure 13:  

    NIGERIA PASSENGER VEHICLES LUBRICANTS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021

    Figure 14:  

    NIGERIA PASSENGER VEHICLES LUBRICANTS MARKET SHARE(%), BY MAJOR PLAYERS, 2020

Market Definition

  • Vehicle Types - Passenger Vehicles, Commercial Vehicles and Motorcycles are the vehicle types considered under the automotive lubricants market.
  • Product Types - For the purpose of this study, lubricant products such as engine oils, transmission oils, greases and hydraulic fluids are taken into consideration.
  • Service Refill - Service refill is the primary factor considered while accounting the lubricant consumption for each of the vehicle segments, under the study.
  • Factory Fill - First lubricant fill-ups for newly produced vehicles are considered.

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Research Methodology

Mordor Intelligence follows a four-step methodology in all our reports.

  • Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
  • Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms

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Frequently Asked Questions

The Nigeria Passenger Vehicles Lubricants Market market is studied from 2015 - 2027.

The Nigeria Passenger Vehicles Lubricants Market stood at 74.71 million liters in 2022 and is projected to register a CAGR of NaN% to reach NaN liters in 2027.

Since it is used in enormous amounts and replenished more frequently than other product categories, engine oil is the most popular product in Nigerian SUVs and sedans.

Transmission oil consumption is predicted to be the highest among all product types in the Nigerian PV sector, as penetration of automatic and used cars is expected to rise.

11Plc,Ardova Plc,BP Plc (Castrol),Oando PLC and TotalEnergies. are the major companies operating in Nigeria Passenger Vehicles Lubricants Market.