Market Trends of uae lubricants Industry
This section covers the major market trends shaping the UAE Lubricants market according to our research experts:
Largest Segment By End User : Automotive
- In 2020, the UAE lubricants market was dominated by the automotive segment, which accounted for around 58% of the total lubricant consumption in the country. During 2015-2019, lubricant consumption in the automotive segment increased by around 7.9%.
- In 2020, the COVID-19 pandemic-related restrictions led to declined maintenance requirements from several sectors. The major impact was observed in the automotive sector, which recorded a dip of 12.4%, followed by heavy equipment (9.9%), during the year over 2019.
- Power generation is likely to be the fastest-growing end-user sector of the market studied, recording a CAGR of 5.5% over the period 2021-2026, followed by metalworking and metallurgy (3.52%). The increasing vehicle population in the country is likely to drive the consumption of lubricants in the automotive sector.
Understand The Key Trends Shaping This Market
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