Market Trends of qatar lubricants Industry
This section covers the major market trends shaping the Qatar Lubricants Market according to our research experts:
Largest Segment By End User : Automotive
- In 2020, the Qatari lubricants market was dominated by the automotive industry, which accounted for around 56% of the total lubricant consumption in the country. During 2015-2019, lubricant consumption in the automotive industry increased by around 11.8%.
- In 2020, COVID-19-related restrictions led to declined maintenance requirements from several industries. The major impact was observed in the metallurgy and metalworking sectors, which recorded a dip of 16.9%, followed by heavy equipment (7.9%) during the year.
- Power generation is likely to be the fastest-growing end-user industry of the market studied, with a CAGR of 5.35% over the period 2021-2026, followed by automotive (2.89%). The growing capacity addition of power generation in the country is likely to drive the consumption of lubricants in the power generation industry.
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