Saudi Arabia Lubricants Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 567.26 Million Liters |
| Market Volume (2026) | 598.92 Million Liters |
| CAGR (2024 - 2026) | 2.75 % |
| Market Concentration | High |
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Saudi Arabia Lubricants Market Analysis
The Saudi Arabia Lubricants Market size is estimated at 567.26 Million Liters in 2024, and is expected to reach 598.92 Million Liters by 2026, growing at a CAGR of 2.75% during the forecast period (2024-2026).
- 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 - Transmission & Gear Oils : 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.
Saudi Arabia Lubricants Market Trends
This section covers the major market trends shaping the Saudi Arabia Lubricants market according to our research experts:
Largest Segment By End User : <span style="font-family: 'regular_bold';color:#0e7db3;">Automotive</span>
- 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.
Saudi Arabia Lubricants Industry Overview
The Saudi Arabia Lubricants Market is fairly consolidated, with the top five companies occupying 84.41%. The major players in this market are BP Plc (Castrol), ExxonMobil Corporation, FUCHS, Petromin Corporation and Royal Dutch Shell Plc (sorted alphabetically).
Saudi Arabia Lubricants Market Leaders
BP Plc (Castrol)
ExxonMobil Corporation
FUCHS
Petromin Corporation
Royal Dutch Shell Plc
*Disclaimer: Major Players sorted in no particular order
Saudi Arabia Lubricants Market News
- 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.
Saudi Arabia Lubricants Market Report - Table of Contents
1. Executive Summary & Key Findings
2. Introduction
2.1 Study Assumptions & Market Definition
2.2 Scope of the Study
2.3 Research Methodology
3. Key Industry Trends
3.1 Automotive Industry Trends
3.2 Manufacturing Industry Trends
3.3 Power Generation Industry Trends
3.4 Regulatory Framework
3.5 Value Chain & Distribution Channel Analysis
4. Market Segmentation
4.1 By End User
4.1.1 Automotive
4.1.2 Heavy Equipment
4.1.3 Metallurgy & Metalworking
4.1.4 Power Generation
4.1.5 Other End-user Industries
4.2 By Product Type
4.2.1 Engine Oils
4.2.2 Greases
4.2.3 Hydraulic Fluids
4.2.4 Metalworking Fluids
4.2.5 Transmission & Gear Oils
4.2.6 Other Product Types
5. Competitive Landscape
5.1 Key Strategic Moves
5.2 Market Share Analysis
5.3 Company Profiles
5.3.1 BP Plc (Castrol)
5.3.2 Chevron Corporation
5.3.3 Eni SpA
5.3.4 ExxonMobil Corporation
5.3.5 FUCHS
5.3.6 Petromin Corporation
5.3.7 PETRONAS Lubricants International
5.3.8 Royal Dutch Shell Plc
5.3.9 TotalEnergies
5.3.10 United Lube Oil Company
6. Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
Saudi Arabia Lubricants Industry Segmentation
| 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 |
Saudi Arabia Lubricants Market Research FAQs
How big is the Saudi Arabia Lubricants Market?
The Saudi Arabia Lubricants Market size is expected to reach 567.26 million Liters in 2024 and grow at a CAGR of 2.75% to reach 598.92 million Liters by 2026.
What is the current Saudi Arabia Lubricants Market size?
In 2024, the Saudi Arabia Lubricants Market size is expected to reach 567.26 million Liters.
Who are the key players in Saudi Arabia Lubricants Market?
BP Plc (Castrol), ExxonMobil Corporation, FUCHS, Petromin Corporation and Royal Dutch Shell Plc are the major companies operating in the Saudi Arabia Lubricants Market.
Which segment has the biggest share in the Saudi Arabia Lubricants Market?
In the Saudi Arabia Lubricants Market, the Automotive segment accounts for the largest share by end user.
Which is the fastest growing segment in the Saudi Arabia Lubricants Market?
In 2024, the Power Generation segment accounts for the fastest growing by end user in the Saudi Arabia Lubricants Market.
What years does this Saudi Arabia Lubricants Market cover, and what was the market size in 2023?
In 2023, the Saudi Arabia Lubricants Market size was estimated at 552.71 million Liters. The report covers the Saudi Arabia Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Saudi Arabia Lubricants Market size for years: 2024, 2025 and 2026.
Saudi Arabia Lubricants Industry Report
Statistics for the 2024 Saudi Arabia Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Saudi Arabia Lubricants analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
