Saudi Arabia Lubricants Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2027

The Saudi Arabia Lubricants Market is segmented by End User ( Automotive, Heavy Equipment, Metallurgy & Metalworking, Power Generation ) and by Product Type ( Engine Oils, Greases, Hydraulic Fluids, Metalworking 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 End User: Automotive
https://s3.mordorlabs.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Fastest Growing by End User: Power Generation
https://s3.mordorlabs.com/cagr/1629296433433_test~cagr_cagr.svg CAGR: NaN %

Key Players

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Market Overview

The Saudi Arabia Lubricants Market stood at 539.45 million liters in 2022 and is projected to register a CAGR of NaN% to reach NaN liters in 2027.

  • Largest Segment by End-user Industry - Automotive : Among all end-user segments, automotive was the largest end user due to the high proportion of SUVs and higher lubricant drain intervals compared to other end-user segments.
  • Fastest Segment by End-user Industry - Power Generation : Power generation is likely to be the fastest-growing end-user industry in Saudi Arabia due to the rising usage of natural gas reactors and wind turbines for energy generation.
  • Largest Segment by Product Type - Engine Oils : Engine oil is the largest consumed product category in Saudi Arabia due to a large number of active cars, motorcycles, and trucks and high oil-changing frequencies.
  • Fastest Segment by Product Type - Metalworking Fluids : Transmission and gear oils are expected to grow rapidly than other product types as Saudi Arabia expects a rise in the use of industrial machinery and automatic vehicles.

Scope of the Report

By End User
Automotive
Heavy Equipment
Metallurgy & Metalworking
Power Generation
Other End-user Industries
By Product Type
Engine Oils
Greases
Hydraulic Fluids
Metalworking Fluids
Transmission & Gear Oils
Other Product Types

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Key Market Trends

Largest Segment By End User : Automotive

  • In 2020, the Saudi Arabian lubricant market was dominated by the automotive industry, which accounted for around 71% of the total lubricant consumption in the country. During 2015-2019, lubricant consumption in the automotive industry increased by around 11.4%.
  • In 2020, COVID-19-related restrictions led to declined maintenance requirements from several industries. The major impact was observed in the automotive industry, which recorded a dip of 7.05% during the year, compared to 2019, followed by heavy equipment (6.53%).
  • Power generation is likely to be the fastest-growing end-user industry of the market studied, with a CAGR of 6.25% during 2021-2026, followed by metalworking and metallurgy (2.52%). The growing vehicle population in the country is likely to drive the consumption of lubricants in the automotive industry in the next few years.

Competitive Landscape

The Saudi Arabia Lubricants Market is fairly consolidated, with the top five companies occupying 82.66%. The major players in this market are BP Plc (Castrol), ExxonMobil Corporation, FUCHS, Petromin Corporation and Royal Dutch Shell Plc (sorted alphabetically).

Major Players

*Disclaimer: Major Players are sorted alphabetically

Recent Developments

  • May 2022: TotalEnergies, NEXUS Automotive Extend Strategic Partnership for a period of five years. As part of this partnership, TotalEnergies Lubricants will be expanding its presence in the burgeoning N! community, which has seen rapid growth in sales from EUR 7.2 billion in 2015 to nearly EUR 35 billion by the end of 2021.
  • March 2022: ExxonMobil Corporation company has appointed Jay Hooley as lead managing director of the company.
  • January 2022: Effective April 1, ExxonMobil Corporation was organized along three business lines – ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon Solutions.

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 Manufacturing Industry Trends

    3. 3.3 Power Generation Industry Trends

    4. 3.4 Regulatory Framework

    5. 3.5 Value Chain & Distribution Channel Analysis

  4. 4. Market Segmentation

    1. 4.1 By End User

      1. 4.1.1 Automotive

      2. 4.1.2 Heavy Equipment

      3. 4.1.3 Metallurgy & Metalworking

      4. 4.1.4 Power Generation

      5. 4.1.5 Other End-user Industries

    2. 4.2 By Product Type

      1. 4.2.1 Engine Oils

      2. 4.2.2 Greases

      3. 4.2.3 Hydraulic Fluids

      4. 4.2.4 Metalworking Fluids

      5. 4.2.5 Transmission & Gear Oils

      6. 4.2.6 Other Product Types

  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 BP Plc (Castrol)

      2. 5.3.2 Chevron Corporation

      3. 5.3.3 Eni SpA

      4. 5.3.4 ExxonMobil Corporation

      5. 5.3.5 FUCHS

      6. 5.3.6 Petromin Corporation

      7. 5.3.7 PETRONAS Lubricants International

      8. 5.3.8 Royal Dutch Shell Plc

      9. 5.3.9 TotalEnergies

      10. 5.3.10 United Lube Oil Company

  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:  

    VEHICLE POPULATION, NUMBER OF UNITS, SAUDI ARABIA, 2015 - 2026

    Figure 2:  

    COMMERCIAL VEHICLES POPULATION, NUMBER OF UNITS, SAUDI ARABIA, 2015 - 2026

    Figure 3:  

    MOTORCYCLES POPULATION, NUMBER OF UNITS, SAUDI ARABIA, 2015 - 2026

    Figure 4:  

    PASSENGER VEHICLES POPULATION, NUMBER OF UNITS, SAUDI ARABIA, 2015 - 2026

    Figure 5:  

    MANUFACTURING VALUE ADDED, USD BILLION (CURRENT VALUE), SAUDI ARABIA, 2015 - 2020

    Figure 6:  

    POWER GENERATION CAPACITY, GIGAWATT (GW), SAUDI ARABIA, 2015 - 2020

    Figure 7:  

    SAUDI ARABIA LUBRICANTS MARKET, 2015-2026

    Figure 8:  

    SAUDI ARABIA LUBRICANTS MARKET, VOLUME IN LITERS, BY END USER, 2015-2026

    Figure 9:  

    SAUDI ARABIA LUBRICANTS MARKET, VOLUME SHARE (%), BY END USER, 2020

    Figure 10:  

    SAUDI ARABIA LUBRICANTS MARKET, VOLUME IN LITERS, ALL, 2015-2026

    Figure 11:  

    SAUDI ARABIA LUBRICANTS MARKET, ALL, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 12:  

    SAUDI ARABIA LUBRICANTS MARKET, VOLUME IN LITERS, AUTOMOTIVE, 2015-2026

    Figure 13:  

    SAUDI ARABIA LUBRICANTS MARKET, AUTOMOTIVE, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 14:  

    SAUDI ARABIA LUBRICANTS MARKET, VOLUME IN LITERS, HEAVY EQUIPMENT, 2015-2026

    Figure 15:  

    SAUDI ARABIA LUBRICANTS MARKET, HEAVY EQUIPMENT, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 16:  

    SAUDI ARABIA LUBRICANTS MARKET, VOLUME IN LITERS, METALLURGY & METALWORKING, 2015-2026

    Figure 17:  

    SAUDI ARABIA LUBRICANTS MARKET, METALLURGY & METALWORKING, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 18:  

    SAUDI ARABIA LUBRICANTS MARKET, VOLUME IN LITERS, POWER GENERATION, 2015-2026

    Figure 19:  

    SAUDI ARABIA LUBRICANTS MARKET, POWER GENERATION, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 20:  

    SAUDI ARABIA LUBRICANTS MARKET, VOLUME IN LITERS, OTHER END-USER INDUSTRIES, 2015-2026

    Figure 21:  

    SAUDI ARABIA LUBRICANTS MARKET, OTHER END-USER INDUSTRIES, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 22:  

    SAUDI ARABIA LUBRICANTS MARKET, VOLUME IN LITERS, BY PRODUCT TYPE, 2015-2026

    Figure 23:  

    SAUDI ARABIA LUBRICANTS MARKET, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 24:  

    SAUDI ARABIA LUBRICANTS MARKET, VOLUME IN LITERS, ALL, 2015-2026

    Figure 25:  

    SAUDI ARABIA LUBRICANTS MARKET, ALL, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

    Figure 26:  

    SAUDI ARABIA LUBRICANTS MARKET, VOLUME IN LITERS, ENGINE OILS, 2015-2026

    Figure 27:  

    SAUDI ARABIA LUBRICANTS MARKET, ENGINE OILS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

    Figure 28:  

    SAUDI ARABIA LUBRICANTS MARKET, VOLUME IN LITERS, GREASES, 2015-2026

    Figure 29:  

    SAUDI ARABIA LUBRICANTS MARKET, GREASES, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

    Figure 30:  

    SAUDI ARABIA LUBRICANTS MARKET, VOLUME IN LITERS, HYDRAULIC FLUIDS, 2015-2026

    Figure 31:  

    SAUDI ARABIA LUBRICANTS MARKET, HYDRAULIC FLUIDS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

    Figure 32:  

    SAUDI ARABIA LUBRICANTS MARKET, VOLUME IN LITERS, METALWORKING FLUIDS, 2015-2026

    Figure 33:  

    SAUDI ARABIA LUBRICANTS MARKET, VOLUME IN LITERS, TRANSMISSION & GEAR OILS, 2015-2026

    Figure 34:  

    SAUDI ARABIA LUBRICANTS MARKET, TRANSMISSION & GEAR OILS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

    Figure 35:  

    SAUDI ARABIA LUBRICANTS MARKET, VOLUME IN LITERS, OTHER PRODUCT TYPES, 2015-2026

    Figure 36:  

    SAUDI ARABIA LUBRICANTS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021

    Figure 37:  

    SAUDI ARABIA LUBRICANTS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021

    Figure 38:  

    SAUDI ARABIA 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 Saudi Arabia Lubricants Market market is studied from 2015 - 2027.

The Saudi Arabia Lubricants Market stood at 539.45 million liters in 2022 and is projected to register a CAGR of NaN% to reach NaN liters in 2027.

Among all end-user segments, automotive was the largest end user due to the high proportion of SUVs and higher lubricant drain intervals compared to other end-user segments.

Power generation is likely to be the fastest-growing end-user industry in Saudi Arabia due to the rising usage of natural gas reactors and wind turbines for energy generation.

Engine oil is the largest consumed product category in Saudi Arabia due to a large number of active cars, motorcycles, and trucks and high oil-changing frequencies.

Transmission and gear oils are expected to grow rapidly than other product types as Saudi Arabia expects a rise in the use of industrial machinery and automatic vehicles.

BP Plc (Castrol),ExxonMobil Corporation,FUCHS,Petromin Corporation and Royal Dutch Shell Plc. are the major companies operating in Saudi Arabia Lubricants Market.