Automotive Lubricants in Malaysia is expected to Generate MYR 13 Bn by selling over 280 Mn Litres of Lubricants: Ken Research
1. “Concentrated at one place?”: Federal Territories and Penang are the Current Hotspots for Automotive Lubricants Market with Highest Density of Vehicle/Per Person in Malaysia
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Federal Territories Account for the Highest Number of Vehicles on Road (over 6 Million) in Malaysia during the year 2020.This directly has a positive impact on the lubricants market based in Malaysia. Regions such as Kuala Lumpur(vehicle density: 3 vehicles per person), Selangor( over 3 thousand vehicles on road), Melaka( over 800 thousand vehicles on road) & Johor(over 3000 thousand vehicles on road) are currently the biggest commercial hubs of the country which means that they have the highest number of vehicles operating in & out on a daily basis thereby providing a great opportunity for the lubricant manufacturers. Moreover, Selangor, Penang and Kedah are the major manufacturing hubs for the automotive industry in Malaysia which again serves the lubricants market in a positive way.
2. “Dependent on distributers:” Majority of the Sales for Automotive Lubricants are carried out by the distributors and OEMs that partner with the manufacturers in Malaysia.
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The Lubricants Market in Malaysia is dependent on the distributers & OEMs for the sales part of their market. Currently, the market is divided between distributers, OEM & fuel stations with each of them capturing a market share of over 50%, 40% & 5% respectively. The dependence can also be ascertained by the fact that companies which are currently market leaders are at the risk of downfall owing to their poor distribution channels. For instance, Shell, which has been in the market since 1901, has weak associations with local workshops which might hamper the sales of lubricants as Petronas and Castrol are continuously trying to take over the local workshops.
3. “Partnering is vital for future growth:” Building Efficient Distribution Channel, Introduction of Products on E-commerce are some of the practices that can help in future growth of Malaysia Automotive Lubricants Market
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Private vehicle owners are dependent on mechanics while selecting lubricants, hence it is very important for manufacturers to partner with workshops to sell their lubricants. Companies can also make them exclusive retailers of their lubricants. Moreover, manufacturers can partner with OEMs to become their lubricant supplier and they can also become co-branding partners. The importance can be ascertained by the fact that Distributor Sales at Supermarkets/Hypermarkets are expected to grow at the highest CAGR of over 8% during 2020-2025.
