Market Trends of Morocco Automotive Lubricants Industry
This section covers the major market trends shaping the Morocco Automotive Lubricants Market according to our research experts:
Largest Segment By Vehicle Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Passenger Vehicles</span>
- In Morocco, passenger vehicles (PV) accounted for the largest share of around 67% in the total number of on-road vehicles in 2020, followed by commercial vehicles (CV) and motorcycles (MC), with a share of 26.9% and 6%, respectively.
- The PV segment accounted for the largest share of around 52% in total automotive lubricant consumption in 2020, followed by CV (46.2%) and MC (1.3%), respectively. In 2020, the COVID-19 outbreak led to a notable dip in lubricants consumption, where CV lubricant consumption recorded the highest dip of 4.5%, followed by PV (2.6%) and MC (2.4%).
- The motorcycle segment is projected to be the fastest-growing lubricant consumer, with a CAGR of 9.4% during 2021-2026. The growth is expected to be driven by a recovery in low-cost moped sales and increasing penetration of foreign motorcycle brands in the coming years.
Understand The Key Trends Shaping This Market
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