Market Trends of Turkey Automotive Engine Oils Industry
This section covers the major market trends shaping the Turkey 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>
- Engine oils accounted for about 70% of the overall automotive lubricants consumed in Turkey, in 2020. Between 2015 and 2019, engine oil consumption declined by around 6%. The declined industrial activity and freight transportation was the major factor behind this drop.
- 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 6.1% dip in engine oil consumption. Commercial Vehicle (CV) segment recorded the largest decline of 7% in engine oil consumption during the year.
- During 2021-2026, the passenger vehicles segment is expected to register the highest growth of about 7.86% in the engine oil consumption, followed by motorcycles segment (6.7%). The growth is likely to be driven by increasing demand for cars in the country over the next five years.
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