Market Overview:
MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the GCC Automotive Lubricants Market, The GCC Automotive Lubricants Market is projected to grow at a CAGR of around 3.0% during the forecast period, i.e., 2022-27. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight sustainable materials, rising demand for luxury customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the GCC Automotive Lubricants Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.
Industry Outlook Forecasts:
- Forecast Period: 2022-2027
- CAGR (2022-2027): 3.0%
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GCC Automotive Lubricants Market Segmentation Breakdown:
The GCC Automotive Lubricants Market 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.)
Among all, Engine Oil is anticipated to hold the largest share in the GCC Automotive Lubricants Market during the forecast period.
By Base Oil
- Mineral Oil Lubricants
- Synthetic Lubricants
- Semi-Synthetic Lubricants
The synthetic Lubricants segment is anticipated to dominate the GCC Automotive Lubricants Market with the largest share during the forecast period.
By Vehicle Type
- Two-Wheelers
- Passenger Cars
- Commercial Vehicles
- Light-Weight Commercial Vehicles
- Heavy-Weight Commercial Vehicles
Geographical Growth Insights:
By Country
- Saudi Arabia
- The UAE
- Oman
- Qatar
- Kuwait
- Bahrain
Saudi Arabia is anticipated to retain the lion’s share of the market during the forecast period.
Key Driver: 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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A Comprehensive Analysis of Leading Companies in GCC Automotive Lubricants Market
- ADNOC
- Aramco
- Chevron Lubricants
- Gulf Oil International
- FUCHS Lubricants Germany GMBH
- Exxon Mobil
- British Petroleum
- Vavoline
- Total Energies
- Oscar Lubricants LLC
- Kuwait Lube Oil Co.
- EPCCO Lubricants
- Others
Possible Restraint: Gradual Adoption of Electric or Hybrid Vehicles in GCC
As carbon emission has been a significant concern across different countries in the region, the advent of Electric Hybrid vehicles has been gaining traction steadily. Yet, with the encouragement from the governments to make a paradigm shift from ICE vehicles to electric ones, the demand for lubricants might reduce and hamper the market growth trajectory in the coming years.
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