Saudi Arabia Passenger Vehicles Lubricants Market Trends

Statistics for the 2023 & 2024 Saudi Arabia Passenger Vehicles Lubricants market trends, created by Mordor Intelligence™ Industry Reports. Saudi Arabia Passenger Vehicles Lubricants trend report includes a market forecast to 202 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Saudi Arabia Passenger Vehicles Lubricants Industry

This section covers the major market trends shaping the Saudi Arabia 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>

  • In Saudi Arabia, passenger vehicles (PVs) is the second-largest vehicle type in terms of automotive lubricant consumption. During 2015-2019, the PV lubricant consumption grew at a CAGR of 2.8%, primarily owing to the surge in the high-powered engine car popualtion 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 the PV lubricant consumption, with a share of around 89% during the year. During 2020, PV lubricants consumption declined by 6.8% due to the lower usage of the vehicle fleet post COVID-19 outbreak.
  • During the next five years, the transmission oils segment is likely to be the fastest-growing segment with a CAGR of 4.94%. This growth is likely to be driven by rise in sales of passenger cars and recovery in average distance travelled in the country.
Saudi Arabia Passenger Vehicles Lubricants Market

Saudi Arabia Passenger Vehicles Lubricants Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2026