Nigeria Lubricants Market Ecosystem
The Nigeria Lubricants market is moderately fragmented with major global and national players occupying almost half of the market. The key players operating in the market are not only competing based on product quality and promotion but are also focusing on strategic moves to hold larger market shares. The major companies dominating the Nigeria Lubricants market for its products, services, and continuous product developments are Total Nigeria PLC (Total), 11 plc (Mobil Oil Nigeria Plc.), Oando PLC, Eterna PLC, and Ardova PLC (Forte Oil PLC), among others.
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The Nigeria Lubricant market is projected to witness a CAGR of ~ % during the forecast period 2022 & 2027.
- Automotive and Other Transportation is the most dominating end-user industry of the market studied.
- The growth in the industrial manufacturing segment is likely to provide opportunities for the Nigeria lubricants market over the next five years
Volatility in Crude Oil prices: Synthetic oil is a lubricant made up of chemical substances that have been synthesized artificially. Moreover synthetic oils are made from crude oil that has been distilled & crude oil prices are majorly influenced by the supply and demand principle. Synthetic lubricants are frequently utilized to replace petroleum-based oils in applications that need high temperatures. Geopolitical events and critical weather conditions leave an impact on the overall supply of crude oil which causes disruptions in the prices. Such global incidents create uncertainty about the demand and supply of crude oil in the near term future. Oil price volatility is connected to the inelasticity of demand and consumption to price fluctuations in the near term. Thus, the volatility in crude oil prices is hampering the growth of the lubricant market.
Instability to hinder growth in future: Political instability from elsewhere on the continent, high levels of corruption, continuing low compliance with lubricant product quality and [problems with]access to financing also persist and threaten the growth of the Nigeria lubricants market. Moreover, existing challenges such as logistical issues, infrastructure backlogs and port storage limitations could also dampen the overall growth of Nigeria Lubricants Market. It is important to note that while these are the possible hindrances, the overall growth is expected to be positive.
Key segments covered
Nigeria lubricant Market
- By Type of Lubricant, 2022P & 2027F
- Industrial Lubricant
- By Type of Lubricant
- Hydraulic Fluid
- Grease
- Gear Oil
- Metalworking Fluid
- Others (Turbine Oil, Compressor Oil etc)
- By End-use
- Construction & Mining
- General Manufacturing
- Metal production
- Power generation
- Food processing
- Others
- By Distribution Channel
- Dealer network
- Direct sales
- Automotive Lubricant
- By type of Lubricant
- Heavy-Duty Diesel Engine Oil
- Passenger Vehicle Motor Oil
- Transmission Fluids
- Hydraulic Oil
- Greases
- Gear Oil
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- By End-use of Lubricant 2022P & 2027F
- Commercial Vehicle
- Passenger Car
- Motor Cycle
- Marine
- Others (Aviation, Railway)
- By Distribution Channel
- Dealer Network
- OEM Workshop
- Supermarket
- Online
Key Target Audience
- Lubricants Manufacturers
- Lubricants Distributors
- Base-oil Companies
- Additive Companies
- Refining Companies
- Construction and Mining Industry
- General Manufacturing Industry
- Metal Production Industry
- Power Generation Industry
- Food Processing Industry
- Agriculture Industry
- Medical Industry
- Automotive OEMs
- Automotive Dealerships
- Government Agencies
- Consulting and Advisory Firms
Time Period Captured in the Report:
- Historical Period: 2017- 2022P
- Base Year: 2022P
- Forecast Period: 2022P – 2027F
Companies Covered:
- Total Nigeria Plc.
- 11 Plc.
- Eterna Plc.
- Oando Plc.
- Ardova Plc.
- Techno Oil Ltd
- Forte Oil Plc
- Ascon Oil Company
- MRS Oil Nigeria Plc
- Dozzy Oil & gas
- Ammasco International Ltd
Key Topics Covered in the Report:
- Executive Summary of Nigeria Lubricants Market
- Market Size of Nigeria Lubricants Market
- Market Segmentation of Nigeria Lubricants Market
- SWOT Analysis of Nigeria Lubricants Market
- Five Porter Analysis of Nigeria Lubricants Market
- Trends and Developments in Nigeria Lubricants Market
- Regulatory Bodies of Nigeria Lubricants Market
- Overview of Nigeria Lubricants Challenges and restrains
- End User Analysis of Nigeria Lubricants Market
- Competitive Analysis of Nigeria Lubricants Market
- Future Outlook of Nigeria Lubricants Market
- Covid Analysis of Nigeria Lubricants Market
- Analyst Recommendations
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