How big is the Nigeria Passenger Vehicles Lubricants Market?

The Nigeria Passenger Vehicles Lubricants Market size is expected to reach 76.34 million Liters in 2024 and grow at a CAGR of 1.48% to reach 78.61 million Liters by 2026. Read More

What is the current Nigeria Passenger Vehicles Lubricants Market size?

In 2024, the Nigeria Passenger Vehicles Lubricants Market size is expected to reach 76.34 million Liters. Read More

Who are the key players in Nigeria Passenger Vehicles Lubricants Market?

11Plc, Ardova Plc, BP Plc (Castrol), Oando PLC and TotalEnergies are the major companies operating in the Nigeria Passenger Vehicles Lubricants Market. Read More

Which segment has the biggest share in the Nigeria Passenger Vehicles Lubricants Market?

In the Nigeria Passenger Vehicles Lubricants Market, the Engine Oils segment accounts for the largest share by product type. Read More

Which is the fastest growing segment in the Nigeria Passenger Vehicles Lubricants Market?

In 2024, the Transmission & Gear Oils segment accounts for the fastest growing by product type in the Nigeria Passenger Vehicles Lubricants Market. Read More

What years does this Nigeria Passenger Vehicles Lubricants Market cover, and what was the market size in 2023?

In 2023, the Nigeria Passenger Vehicles Lubricants Market size was estimated at 75.58 million Liters. The report covers the Nigeria Passenger Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Nigeria Passenger Vehicles Lubricants Market size for years: 2024, 2025 and 2026. Read More

Nigeria Passenger Vehicles Lubricants Market Trends

Statistics for the 2023 & 2024 Nigeria Passenger Vehicles Lubricants market trends, created by Mordor Intelligence™ Industry Reports. Nigeria Passenger 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.

Market Trends of Nigeria Passenger Vehicles Lubricants Industry

This section covers the major market trends shaping the Nigeria Passenger Vehicles Lubricants Market according to our research experts:

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

Passenger vehicles (PVs) are the second-largest segment in terms of automotive lubricant consumption in Nigeria. During 2015-2019, the PV lubricant consumption registered a CAGR of almost 1%, primarily owing to the surge in the car population of the country.
In 2020, PVs accounted for about 33.4% of the total automotive lubricant consumption in the country. Engine oil accounted for the largest share in PV lubricant consumption, with a share of over 81.4% during the year. During 2020, PV lubricants consumption declined by 7.8% due to the low usage of the vehicle fleet post the COVID-19 outbreak.
During 2021-2026, the greases segment is projected to register a steady rate exhibiting a CAGR of 2.48%. This growth is likely to be driven by the recovery of passenger car production and recovery in average distance traveled in the country.