Market Trends of Africa Automotive Lubricants Industry
This section covers the major market trends shaping the Africa Automotive Lubricants Market according to our research experts:
Largest Segment By Vehicle Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Commercial Vehicles</span>
- In the African region, the passenger vehicle (PV) segment accounted for almost 55% share among the total number of on-road vehicles during 2020, followed by motorcycles and commercial vehicles with 35% and 10% shares, respectively.
- The commercial vehicles segment accounted for the highest share of about 62% in the total automotive lubricant volume consumption in 2020, followed by the passenger vehicles segment with a share of 34%. During the same year, travel restrictions to curb COVID-19 significantly affected the usage of these vehicles and their lubricant consumption.
- During 2021-2026, the motorcycles lubricants segment is expected to witness the highest CAGR of 5.41%. The recovery of motorcycle sales and the easing of COVID-19-related travel restrictions are likely to be the key factors driving this trend.
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Largest Country : <span style="font-family: 'regular_bold';color:#0e7db3;">Egypt</span>
- In Africa, automotive lubricant consumption is the highest in Egypt, followed by Nigeria and South Africa. In 2020, Egypt accounted for about 26% of the total automotive lubricant consumption, while Nigeria and South Africa accounted for shares of around 17.5% and 17%, respectively.
- The COVID-19 outbreak in 2020 significantly affected automotive lubricant consumption in many countries in the region. South Africa was the most affected, with a 9% drop, during 2019-2020, whereas Morocco was the least affected, with a 3.4% drop in its automotive lubricant consumption.
- During 2021-2026, Morocco is likely to be the fastest-growing lubricant market, as the consumption is likely to increase at a CAGR of 6.06%, followed by South Africa and Egypt, which are expected to record a CAGR of 3.57% and 3.33%, respectively.
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