Market Trends of Qatar Automotive Engine Oils Industry
This section covers the major market trends shaping the Qatar Automotive Engine Oils Market according to our research experts:
Largest Segment By Vehicle Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Commercial Vehicles</span>
- In Qatar, engine oils accounted for about 77% of automotive lubricants in 2020. During 2015-2019, engine oil consumption increased at a CAGR of 2.4%. The growing active vehicle fleet and increasing service needs in the country were the key drivers for this trend.
- In 2020, the COVID-19 outbreak led to a massive decline in the usage rate of the existing vehicle fleets in the country, which led to a 8.16% dip in engine oil consumption. Passenger Vehicles (PV) segment recorded the largest decline of 8.54% in engine oil consumption during the year.
- During 2021-2026, the motorcycles segment is expected to register highest growth of about 9.3% in the engine oil consumption, followed by PV segment (4.06%). The growth is likely to be driven by increasing demand for mopeds and motorcycles in the country over the next five years.