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. Read More

What is the current Nigeria Lubricants Market size?

In 2024, the Nigeria Lubricants Market size is expected to reach 553.40 million Liters. Read More

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. Read More

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. Read More

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. Read More

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. Read More

Nigeria Lubricants Market Trends

Statistics for the 2023 & 2024 Nigeria Lubricants market trends, created by Mordor Intelligence™ Industry Reports. Nigeria Lubricants trend report includes a market forecast to 2026 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Nigeria Lubricants Industry

This section covers the major market trends shaping the Nigeria Lubricants Market according to our research experts:

Largest Segment By End User : <span style="font-family: 'regular_bold';color:#0e7db3;">Automotive</span>

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.