Market Size of Nigeria Automotive Engine Oils Industry
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Forecast Data Period | 2024 - 2026 |
| Historical Data Period | 2015 - 2019 |
| CAGR (2024 - 2026) | 2.04 % |
| Market Concentration | High |
Nigeria Automotive Engine Oils Market Analysis
The Nigeria Automotive Engine Oils Market size is estimated at 170.93 Million Liters in 2024, and is expected to reach 177.98 Million Liters by 2026, growing at a CAGR of 2.04% during the forecast period (2024-2026).
- Largest Segment by Vehicle Type - Commercial Vehicles : The Nigerian commercial vehicle sector has the highest engine oil consumption as the country has 3.8 million CVs, most of which are obsolete CVs that require frequent repair.
- Fastest Segment by Vehicle Type - Motorcycles : Nigeria is predicted to have the fastest rise in demand for motorcycle engine oil, owing to a robust comeback in low-cost motorcycle sales and rising travel rates.
