Market Trends of South Africa Automotive Engine Oils Industry
This section covers the major market trends shaping the South Africa 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 South Africa, engine oils accounted for about 80.7% of the overall automotive lubricants in 2020. During 2015-2019, engine oil consumption increased at a CAGR of over 1.83%. The growing active vehicle fleet in the country was the key driver 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 an 8.54% dip in engine oil consumption. The commercial vehicle (CV) segment recorded the largest decline of 9.39% in engine oil consumption during 2019.
- During 2021-2026, the motorcycles segment is expected to register the highest growth of 4.46% in engine oil consumption, followed by the CV segment (3.53%). The growth in the motorcycles segment is likely to be driven by the country's strong demand for mopeds and motorcycles over the next five years.
Understand The Key Trends Shaping This Market
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