Market Trends of Uae Automotive Lubricants Industry
This section covers the major market trends shaping the UAE Automotive Lubricants Market according to our research experts:
Largest Segment By Vehicle Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Passenger Vehicles</span>
- In UAE, passenger vehicles (PV) accounted for the largest share of 88.24% in the total number of on-road vehicles in 2020, followed by commercial vehicles (CV) and motorcycles (MCs), with a share of 10.16% and 1.60%, respectively.
- The PV segment accounted for the highest share of around 74.3% in total automotive lubricant consumption in 2020, followed by CV (25.5%) and MC (0.18%), respectively. In 2020, COVID-19 outbreak led to notable dip in lubricants consumption, where MC lubricant consumption recorded highest dip of 16.28%, followed by PV (12.88%) and CV (11.11%).
- The commercial vehicles segment is projected to be the fastest-growing lubricant consumer, with a CAGR of 3.88% over the period 2021-2026. The growth is expected to be driven by recovery in the sales and average annual distance travelled by commercial vehicles in near future.
Understand The Key Trends Shaping This Market
Download Sample
