Market Trends of Uae Commercial Vehicles Lubricants Industry
This section covers the major market trends shaping the UAE Commercial Vehicles Lubricants Market according to our research experts:
Largest Segment By Product Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Engine Oils</span>
- In UAE, commercial vehicles (CV) forms the second-largest vehicle type in terms of automotive lubricant consumption. During 2015-2019, lubricant consumption grew at a CAGR of 2.5% in CV segment. The growth was majorly driven by the growing freight ransportation in the country.
- In 2020, commercial vehicle lubricant consumption declined by 11.1% as COVID-19 affected the freight transportation. The engine oil segment accounted for around 89.6% share in CV lubricant consumption in 2020. A major decline of 11.35% was observed in the consumption of engine oils in CV segment during the year.
- During 2021-2026, the greases segment is likely to be the fastest-growing segment with a CAGR of 5.09%. The growing need for service of existing fleet along with expected boom in trade activity are likely to drive the consumption of greases over the coming years.
Understand The Key Trends Shaping This Market
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