Market Trends of united kingdom lubricants Industry
This section covers the major market trends shaping the UK Lubricants Market according to our research experts:
Largest Segment By End User : Automotive
- In 2020, the automotive sector dominated the UK lubricant market and accounted for around 46.85% of the total lubricant consumption in the country. During 2015-2019, lubricant consumption in the automotive sector declined by a CAGR of 0.78%.
- 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 17.24%, followed by heavy equipment (12.35%), during the year.
- Heavy equipment is likely to be the fastest-growing end-user segment of the market studied, with a CAGR of 3.23% over 2021-2026, followed by automotive (2.08%). The potential for growth in public infrastructure and commercial buildings is expected to drive the market over the coming years.
Understand The Key Trends Shaping This Market
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