Nigeria Lubricants Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 553.40 Million Liters |
| Market Volume (2026) | 597.33 Million Liters |
| CAGR (2024 - 2026) | 3.89 % |
| Market Concentration | High |
Nigeria Lubricants Market Analysis
The Nigeria Lubricants Market size is estimated at 553.40 Million Liters in 2024, and is expected to reach 597.33 Million Liters by 2026, growing at a CAGR of 3.89% during the forecast period (2024-2026).
- Largest Segment by End-user Industry - Automotive : Automotive is the largest end-user among all segments due to the high proportion of engine oils and gear oils used in motor vehicles than in any industrial application.
- Fastest Segment by End-user Industry - Power Generation : Due to the increasing use of natural gas reactors and wind turbines for energy generation, power generation is the fastest-growing end-user of lubricants in Nigeria.
- Largest Segment by Product Type - Engine Oils : Due to the varying engine sizes of cars, trucks, and buses and the high oil changing frequencies, engine oil is the most widely used product category in Nigeria.
- Fastest Segment by Product Type - Metalworking Fluids : Nigeria has several government policies that are likely to propel the manufacturing industry and increase metalworking fluid consumption at a faster rate in the coming years.
Nigeria Lubricants Market Trends
This section covers the major market trends shaping the Nigeria Lubricants Market according to our research experts:
Largest Segment By End User : Automotive
- In 2020, the automotive industry dominated the Nigerian lubricants market, accounting for over 44% of the total lubricant consumption. During 2015-2019, lubricant consumption in the automotive industry increased by 4.2%.
- In 2020, COVID-19-related restrictions led to declined maintenance requirements from several industries. The major impact was observed in the automotive industry, which recorded a dip of 5.9% during 2019-2020, followed by heavy equipment (4.7%).
- Power generation is likely to be the fastest-growing end-user industry of the Nigerian lubricants market during 2021-2026, with a CAGR of 5.39%, followed by metallurgy and metalworking (5.2%). The growing vehicle sales and production are likely to drive the consumption of lubricants in the automotive industry in the future.
Nigeria Lubricants Industry Overview
The Nigeria Lubricants Market is fairly consolidated, with the top five companies occupying 68.10%. The major players in this market are 11PLC, Ardova PLC, BP PLC (Castrol), Oando PLC and TotalEnergies (sorted alphabetically).
Nigeria Lubricants Market Leaders
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11PLC
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Ardova PLC
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BP PLC (Castrol)
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Oando PLC
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TotalEnergies
*Disclaimer: Major Players sorted in no particular order
Nigeria Lubricants Market News
- May 2022: TotalEnergies, NEXUS Automotive Extend Strategic Partnership for a period of five years. As part of this partnership, TotalEnergies Lubricants will be expanding its presence in the burgeoning N! community, which has seen rapid growth in sales from EUR 7.2 billion in 2015 to nearly EUR 35 billion by the end of 2021.
- January 2022: Effective January 21, 2022, Royal Dutch Shell plc changes its name to Shell plc.
- November 2021: Ardova PLC acquired Enyo Retail & Supply Limited in 2021. This acquisition adds Enyo's 95 retail stations to Ardova's existing 450 stations, growing its portfolio to 545 stations nationwide.
Nigeria Lubricants Market Report - Table of Contents
1. Executive Summary & Key Findings
2. Introduction
2.1 Study Assumptions & Market Definition
2.2 Scope of the Study
2.3 Research Methodology
3. Key Industry Trends
3.1 Automotive Industry Trends
3.2 Manufacturing Industry Trends
3.3 Power Generation Industry Trends
3.4 Regulatory Framework
3.5 Value Chain & Distribution Channel Analysis
4. Market Segmentation
4.1 By End User
4.1.1 Automotive
4.1.2 Heavy Equipment
4.1.3 Metallurgy & Metalworking
4.1.4 Power Generation
4.1.5 Other End-user Industries
4.2 By Product Type
4.2.1 Engine Oils
4.2.2 Greases
4.2.3 Hydraulic Fluids
4.2.4 Metalworking Fluids
4.2.5 Transmission & Gear Oils
4.2.6 Other Product Types
5. Competitive Landscape
5.1 Key Strategic Moves
5.2 Market Share Analysis
5.3 Company Profiles
5.3.1 11PLC
5.3.2 Ammasco International Limited
5.3.3 Ardova PLC
5.3.4 BP PLC (Castrol)
5.3.5 Conoil PLC
5.3.6 Eterna PLC
5.3.7 MRS Oil Nigeria PLC
5.3.8 Oando PLC
5.3.9 Royal Dutch Shell PLC
5.3.10 TotalEnergies
6. Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
Nigeria Lubricants Industry Segmentation
| By End User | |
| Automotive | |
| Heavy Equipment | |
| Metallurgy & Metalworking | |
| Power Generation | |
| Other End-user Industries |
| By Product Type | |
| Engine Oils | |
| Greases | |
| Hydraulic Fluids | |
| Metalworking Fluids | |
| Transmission & Gear Oils | |
| Other Product Types |
Nigeria Lubricants Market Research FAQs
How big is the Nigeria Lubricants Market?
The Nigeria Lubricants Market size is expected to reach 553.40 million Liters in 2024 and grow at a CAGR of 3.89% to reach 597.33 million Liters by 2026.
What is the current Nigeria Lubricants Market size?
In 2024, the Nigeria Lubricants Market size is expected to reach 553.40 million Liters.
Who are the key players in Nigeria Lubricants Market?
11PLC, Ardova PLC, BP PLC (Castrol), Oando PLC and TotalEnergies are the major companies operating in the Nigeria Lubricants Market.
Which segment has the biggest share in the Nigeria Lubricants Market?
In the Nigeria Lubricants Market, the Automotive segment accounts for the largest share by end user.
Which is the fastest growing segment in the Nigeria Lubricants Market?
In 2024, the Power Generation segment accounts for the fastest growing by end user in the Nigeria Lubricants Market.
What years does this Nigeria Lubricants Market cover, and what was the market size in 2023?
In 2023, the Nigeria Lubricants Market size was estimated at 535.73 million Liters. The report covers the Nigeria Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Nigeria Lubricants Market size for years: 2024, 2025 and 2026.
Nigeria Lubricants Industry Report
Statistics for the 2024 Nigeria Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Nigeria Lubricants analysis includes a market forecast outlook to 2026 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Nigeria Lubricants Market Report Snapshots
