The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), GCC Automotive Lubricants Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.
In-Depth Market Overview of GCC Automotive Lubricants Industry (2022-2027):
According to the latest report, The GCC Automotive Lubricants Market is projected to grow at a CAGR of around 3.0% during the forecast period, i.e., 2022-27. The report demonstrates the prominent factors propelling the exponential growth of the GCC Automotive Lubricants industry.
Key Takeaways: Beneficial for Stakeholders and Clients:
- Historical Data: 2017-20
- Base Year: 2021
- Forecast Period: 2022-27
- CAGR – 3.0%
What are the major Driver the GCC Automotive Lubricants industry?
Expanding Vehicle Fleet Due to Improving Economic Conditions in GCC Promulgating Lubricant Demand - With ICE (Internal combustion engine) vehicles still leading the automotive industry in the GCC, manufacturers are heavily investing in bringing cutting-edge technology to minimize carbon footprints. The same aspect is, in turn, paving the way for the automakers to invest bring better quality lubricants for the vehicles. There is a gradual inclination toward better–performing lubricants engineered specially to improve fuel economy, propelling the need for synthetic lubricants additives is mounting rapidly. It is principally due to their reduced greenhouse gas emissions, thereby curating the fundamentals underlying the dynamics of the GCC Automotive Lubricants Market.
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GCC Automotive Lubricants Market Segmentation
The GCC Automotive Lubricants Market analysis of Markntel Advisors explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- By Type
- Engine Oil
- Gear Oil
- Transmission Fluids
- Brake Fluids
- Greases
- Coolants Antifreezes
- Others (Additives, Oil Bender, etc.)
- By Base Oil
- Mineral Oil Lubricants
- Synthetic Lubricants
- Semi-Synthetic Lubricants
- By Vehicle Type
- Two-Wheelers
- Passenger Cars
- Commercial Vehicles
- Light-Weight Commercial Vehicles
- Heavy-Weight Commercial Vehicles
- By Countries
- Saudi Arabia
- The UAE
- Oman
- Qatar
- Kuwait
- Bahrain
As per the regional aspect, the GCC Automotive Lubricants Market is expected to be dominated by Saudi Arabia by capturing the potential market share.
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Top Companies in the GCC Automotive Lubricants Market
ADNOC, Aramco, Chevron Lubricants, Gulf Oil International, FUCHS Lubricants Germany GMBH, Exxon Mobil, British Petroleum, Valvoline, Total Energies, Oscar Lubricants LLC, Kuwait Lube Oil Co., EPCCO Lubricants, Others
Recent Developments in the GCC Automotive Lubricants Market
Recently, ExxonMobil announced the Mobil Super range of lubricants claiming it to be of cutting-edge technology that meets the current BS-VI specifications along with fuel economy benefits. This next-generation synthetic passenger vehicle lubricant delivers improved engine wear protection.
In 2022, a new Voyager Green series range of lubricant products, namely Voyager PX Green for petrol engine and Voyager DX Green for diesel engines, formulated with 100% plant-derived base oil has been launched by ADNOC Distribution, the largest fuel and convenience retailer in the United Arab Emirates.
In 2022, Chevron Lubricants launched its Delo TorqForce Syn FD-1 high-performance, fully synthetic lubricant developed for final drives and axles of extensive mining haul trucks and other support equipment, formulated to deliver maximum system protection and enhance efficiency over conventional SAE 60 TO-4 and FD-1 products.
In 2019, FUCHS Group acquired Nye Lubricants Inc. which deals in the manufacturing, formulation, and innovation of synthetic products. The acquisition aimed to expand the synthetic lubricants portfolio.
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