Market Trends of Uae Automotive Engine Oils Industry
This section covers the major market trends shaping the UAE Automotive Engine Oils Market according to our research experts:
Largest Segment By Vehicle Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Passenger Vehicles</span>
- In UAE, engine oils accounted for about 92% of automotive lubricants in 2020. During 2015-2019, engine oil consumption increased at a CAGR of around 1.8%. 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 12.7% dip in engine oil consumption. Motor Cycle (MC) segment recorded the largest decline of 16.5% in engine oil consumption during the year.
- During 2021-2026, the commercial vehicles segment is expected to register highest growth of about 3.85% in the engine oil consumption, followed by motorcycles segment (2.86%). The growth is likely to be driven by increasing demand for personal mobility in the country over the next five years.
Understand The Key Trends Shaping This Market
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