Middle East Commercial Vehicles Lubricants Market Trends

Statistics for the 2023 & 2024 Middle East Commercial Vehicles Lubricants market trends, created by Mordor Intelligence™ Industry Reports. Middle East Commercial Vehicles Lubricants trend report includes a market forecast to 202 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Home Market Analysis Chemicals & Materials Research Lubricants and Fuel Additives Research Lubricants Research Automotive Lubricants Research Commercial Vehicle Lubricants Research Middle East Commercial Vehicles Lubricants Market Market Trends

Market Trends of Middle East Commercial Vehicles Lubricants Industry

This section covers the major market trends shaping the Middle East Commercial Vehicles Lubricants Market according to our research experts:

Largest Segment By Product Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Engine Oils</span>

  • During 2015-2019, lubricant consumption in the Middle East commercial vehicle sector increased at a CAGR of 1%. Engine oil was the dominating lubricant product type in this sector which accounted for a share of 82.3% in lubricant consumption of this sector in 2020. Engine oil is followed by transmission oils which accounted for 7.2% of the lubricant consumption in 2020.
  • Owing to the COVID-19 outbreak in 2020, the freight transportation significantly dropped due to the lockdowns put in place as a response to the pandemic. Hence, the lubricant consumption in this sector fell by over 6% in comparison to 2019.
  • The projected boom in logistic requirements and recovery in sales of new commercial vehicles are likely to drive the lubricant consumption in this sector. Hence, the commercial vehicle lubricant consumption is likely to grow at a CAGR of 2.85% during 2021-2026.
Middle East Commercial Vehicles Lubricants Market : Largest Segment By Product Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Engine Oils</span>

Largest Country : <span style="font-family: 'regular_bold';color:#0e7db3;">Saudi Arabia</span>

  • In the Middle Eastern region, the consumption volume of commercial vehicle (CV) lubricants is the highest in Saudi Arabia, followed by Turkey and Iran. In 2020, Saudi Arabia accounted for 38.05% of the total consumption of CV lubricants in the region, whereas Turkey and Iran accounted for 22.96% and 19.59%, respectively.
  • The restrictions imposed on business and transportation activities after the COVID-19 outbreak negatively affected the CV lubricant consumption across the region in 2020. The UAE was the most affected as it witnessed an 11.11% drop in consumption during 2019-2020, followed by Qatar, which witnessed a 7.67% drop.
  • During 2021-2026, Turkey is likely to be the fastest-growing CV lubricant market as the consumption is likely to grow, recording a CAGR of 4.98%, followed by the UAE and Iran, which are expected to record a CAGR of 3.88% and 2.43%, respectively.
Middle East Commercial Vehicles Lubricants Market : Largest Country : <span style="font-family: 'regular_bold';color:#0e7db3;">Saudi Arabia</span>

Middle East Commercial Vehicles Lubricants Report Snapshots

Middle East Commercial Vehicles Lubricants Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2026