Market Trends of South Africa Automotive Engine Oils Industry
This section covers the major market trends shaping the South Africa Automotive Engine Oils Market according to our research experts:
Largest Segment By Vehicle Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Commercial Vehicles</span>
- In South Africa, engine oils accounted for about 80.7% of the overall automotive lubricants in 2020. During 2015-2019, engine oil consumption increased at a CAGR of over 1.83%. The growing active vehicle fleet in the country was the key driver for this trend.
- In 2020, the COVID-19 outbreak led to a massive decline in the usage rate of the existing vehicle fleets in the country, which led to an 8.54% dip in engine oil consumption. The commercial vehicle (CV) segment recorded the largest decline of 9.39% in engine oil consumption during 2019.
- During 2021-2026, the motorcycles segment is expected to register the highest growth of 4.46% in engine oil consumption, followed by the CV segment (3.53%). The growth in the motorcycles segment is likely to be driven by the country's strong demand for mopeds and motorcycles over the next five years.
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