Nigeria Passenger Vehicles Lubricants Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 76.34 Million Liters |
| Market Volume (2026) | 78.61 Million Liters |
| CAGR (2024 - 2026) | 1.48 % |
| Market Concentration | High |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Nigeria Passenger Vehicles Lubricants Market Analysis
The Nigeria Passenger Vehicles Lubricants Market size is estimated at 76.34 Million Liters in 2024, and is expected to reach 78.61 Million Liters by 2026, growing at a CAGR of 1.48% during the forecast period (2024-2026).
- Largest Segment by Product Type - Engine Oils : Since it is used in enormous amounts and replenished more frequently than other product categories, engine oil is the most popular product in Nigerian SUVs and sedans.
- Fastest Segment by Product Type - Transmission & Gear Oils : Transmission oil consumption is predicted to be the highest among all product types in the Nigerian PV sector, as penetration of automatic and used cars is expected to rise.
Nigeria Passenger Vehicles Lubricants Market Trends
This section covers the major market trends shaping the Nigeria Passenger Vehicles Lubricants Market according to our research experts:
Largest Segment By Product Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Engine Oils</span>
- Passenger vehicles (PVs) are the second-largest segment in terms of automotive lubricant consumption in Nigeria. During 2015-2019, the PV lubricant consumption registered a CAGR of almost 1%, primarily owing to the surge in the car population of the country.
- In 2020, PVs accounted for about 33.4% of the total automotive lubricant consumption in the country. Engine oil accounted for the largest share in PV lubricant consumption, with a share of over 81.4% during the year. During 2020, PV lubricants consumption declined by 7.8% due to the low usage of the vehicle fleet post the COVID-19 outbreak.
- During 2021-2026, the greases segment is projected to register a steady rate exhibiting a CAGR of 2.48%. This growth is likely to be driven by the recovery of passenger car production and recovery in average distance traveled in the country.
Nigeria Passenger Vehicles Lubricants Industry Overview
The Nigeria Passenger Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 65.40%. The major players in this market are 11Plc, Ardova Plc, BP Plc (Castrol), Oando PLC and TotalEnergies (sorted alphabetically).
Nigeria Passenger Vehicles Lubricants Market Leaders
-
11Plc
-
Ardova Plc
-
BP Plc (Castrol)
-
Oando PLC
-
TotalEnergies
*Disclaimer: Major Players sorted in no particular order
Nigeria Passenger Vehicles Lubricants Market News
- 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.
- April 2021: Total Nigeria PLC and Moove Africa signed a Memorandum of Understanding to form a partnership that would improve the welfare of Moove vehicle drivers by providing access to the fleet management system, as well as premium services and price reductions on lubricants and other services.
- March 2021: Castrol announced the launch of Castrol ON (a Castrol e-fluid range that includes e-gear oils, e-coolants, and e-greases) to its product portfolio. This range is specially designed for electric vehicles.
Nigeria Passenger Vehicles 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 Regulatory Framework
3.3 Value Chain & Distribution Channel Analysis
4. Market Segmentation
4.1 By Product Type
4.1.1 Engine Oils
4.1.2 Greases
4.1.3 Hydraulic Fluids
4.1.4 Transmission & Gear Oils
5. Competitive Landscape
5.1 Key Strategic Moves
5.2 Market Share Analysis
5.3 Company Profiles
5.3.1 11Plc
5.3.2 A-Z Petroleum
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 Passenger Vehicles Lubricants Industry Segmentation
| By Product Type | |
| Engine Oils | |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
Nigeria Passenger Vehicles Lubricants Market Research FAQs
How big is the Nigeria Passenger Vehicles Lubricants Market?
The Nigeria Passenger Vehicles Lubricants Market size is expected to reach 76.34 million Liters in 2024 and grow at a CAGR of 1.48% to reach 78.61 million Liters by 2026.
What is the current Nigeria Passenger Vehicles Lubricants Market size?
In 2024, the Nigeria Passenger Vehicles Lubricants Market size is expected to reach 76.34 million Liters.
Who are the key players in Nigeria Passenger Vehicles Lubricants Market?
11Plc, Ardova Plc, BP Plc (Castrol), Oando PLC and TotalEnergies are the major companies operating in the Nigeria Passenger Vehicles Lubricants Market.
Which segment has the biggest share in the Nigeria Passenger Vehicles Lubricants Market?
In the Nigeria Passenger Vehicles Lubricants Market, the Engine Oils segment accounts for the largest share by product type.
Which is the fastest growing segment in the Nigeria Passenger Vehicles Lubricants Market?
In 2024, the Transmission & Gear Oils segment accounts for the fastest growing by product type in the Nigeria Passenger Vehicles Lubricants Market.
What years does this Nigeria Passenger Vehicles Lubricants Market cover, and what was the market size in 2023?
In 2023, the Nigeria Passenger Vehicles Lubricants Market size was estimated at 75.58 million Liters. The report covers the Nigeria Passenger Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Nigeria Passenger Vehicles Lubricants Market size for years: 2024, 2025 and 2026.
Nigeria Passenger Vehicles Lubricants Industry Report
Statistics for the 2024 Nigeria Passenger Vehicles Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Nigeria Passenger Vehicles 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.
