Market Size of nigeria lubricants Industry
| Icons | Lable | Value |
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Study Period | 2015 - 2026 |
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Market Volume (2024) | 553.40 Million Liters |
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Market Volume (2026) | 597.33 Million Liters |
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Largest Share by End User | Automotive |
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CAGR (2024 - 2026) | 3.89 % |
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Fastest Growing by End User | Power Generation |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
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.
