“Growth in the sales of the passenger as well as commercial vehicles coupled with an increase in construction activity has led to rising domestic consumption of lubricants in Saudi Arabia.”
Positive Developments in the Automotive and Industrial Segment: Increased vehicle sales in both passenger and commercial vehicles along with heavy government investments in the marine and aviation sector have driven the lubricants market. The automotive sector has a dominant share in the overall lubricants market in Saudi Arabia. Furthermore, the construction sector had a 4.1% increase compared to last year, with more than 5,200 ongoing projects scheduled to be completed during the period 2018-2022. There was an increase in the investment to increase the overall power capacity to 82GW which has resulted in an increase in the use of industrial lubricants.
Increasing Demand for Synthetic and Semi-Synthetic Lubricants: While mineral oil-based lubricants account for the majority of the demand for lubricants in Saudi Arabia due to their economical price, the demand for synthetic and semi-synthetic lubes has been rising due to increasing awareness of their multiple benefits. This includes their physical properties such as high Viscosity Index (VI), high level of thermal stability, low freezing point, high boiling point, and others, thereby helping to reduce friction between machinery parts and then reducing the rate of wear-and-tear. This improves productivity, and hence longevity, of machinery/equipment. Also with increasing environmental concerns and governmental regulations on the use of mineral oils, the synthetic based oils are less polluting as compared to mineral-based lubricants and hence more preferred.
Analysts at Ken Research in their latest publication “Saudi Arabia Lubricants Market Outlook to 2023 – By Automotive (Passenger Car Motor Oil, Heavy Duty Engine oils, Hydraulic Oils, Gear Oils & transmission, and Greases), Industrial Lubricants (Engine Oils, Turbine oils, Hydraulic oils, Industrial Gear oils, Transformer oils, Compressor Oils, Greases); By Origin (Mineral, Synthetic and Semi-Synthetic)” believe that developing industrial lubricants for construction and power generation based applications, improving sales and promotion/advertising of lubricants and upgrading production equipment with increased focus on energy efficiency and input-output quality will aid the lubricants market in the Saudi Arabia. The market is expected to register a positive CAGR of 3.4% in terms of revenue and a CAGR of 0.8% in terms of sales volume / domestic consumption of lubricants during the forecast period of 2018–2023E.
Key Segments Covered:-
By Origin
Mineral
Synthetic
Semi-Synthetic
By Type of Lubricant
Automotive
Industrial
By Type of Automotive Lubricant
Passenger Car Motor Oils
Heavy Duty Diesel Engine Oils
Hydraulic Oils
Gear Oils & Transmission Fluids
Greases
By Automotive Type, End User
Passenger Vehicles
Commercial Vehicles
Marine and Aviation
Segmentation of Automotive Lubricant, By Distribution Channel
Puncture Shops
Company Owned-Operated Outlets
Auto OEM’s
Others: include wholesalers, retailers, and OEM service centers.
Segmentation of Industrial Lubricants, By Type
Engine Oils
Turbine Oils
Hydraulic Oils
Industrial Gear Oils
Transformer Oils
Compressor Oils
Greases
Others: Include specialty lubricants which are custom made like bearing and circuiting oils, rolling oils, spindle oils, slideway oils, and process oils.
Segmentation of Industrial Lubricants, By End User
Construction and Heavy Transport/Fleet
Power generation
Manufacturing
Segmentation of Industrial Lubricants, By Distribution Channel
Direct Sales as per Approval of OEMs
Dealer Networks
Key Target Audience:-
Automobile Manufacturers
Plastic Manufacturers
Metal Working Companies
Auto and Auto Component Manufacturers
Construction Companies
Textile Companies
Cement Companies
Mining Companies
Paper and Pulp Manufacturers
Power Generation Companies
Steel Manufacturers
Food & Beverage Companies
Time Period Captured in the Report:-
Historical Period: 2013-2018
Forecast Period: 2018-2023
Companies Covered:-
Petromin Corporation
Shell (JOSLOC)
Castrol
Alhamrani-Fuchs Petroleum Saudi Arabia
Mobil (Delta Group)
Total
Petronas (Unified Lubricants Company)
Chevron Al Bakri Lubricants Company
Raf Oil Industries
Gulf Oil Middle East Limited
Chevron AlBakri Lubricants Company (Caltex)
Haji Abdullah Alireza & Co. Ltd
United Lube Oil Company. (UNILUBE)
Amsoil
Arabian Plant for Lubricants and Greases (APLG)
United Lube Oil Company. (UNILUBE)
Yanbu United Industrial Services
Saudi Oil Company
Keywords:-
Diesel Engine Oils Market Saudi Arabia
Gear Oils Market Saudi Arabia
Greases Market Saudi Arabia
Saudi Arabia Aviation Lubricants Market
Saudi Arabia Lubricants Industry
Saudi Arabia Lubricants Market
Lubricants Market Saudi Arabia
Lubricants Industry Saudi Arabia
Lubricant Market Exports Saudi Arabia
Lubricant Market Imports Saudi Arabia
Lubricants Developments in Saudi Arabia
Lubricants Saudi Arabia Market
Lubricants Market Challenges Saudi Arabia
Automotive Lubricants Market in Saudi Arabia
Saudi Arabia Lubricants Market Issues
Lubricants Market Trends in Saudi Arabia
Lubricants Recommendations Saudi Arabia
Mineral Lubricants Market Saudi Arabia
Saudi Arabia Motor Oil Market
Castrol Sales Volume Lubricant Saudi Arabia
For More Information On The Research Report, Refer To Below Link:-
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Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
