The GCC Automotive Lubricants Market is projected to grow at a CAGR of 3.0% in the forecast period of 2022-27, cites MarkNtel Advisors in their recent research report. The market is driven by the rapidly growing vehicle fleet influenced by the improving economic conditions of people in a region where the vehicle is a status symbol, entwined with the growing awareness & consciousness about the need for timely maintenance & repairs of vehicles for exceptional performance. These aspects are playing a prominent role in augmenting the demand for the automotive lubricants market.
Besides, the explosion in consumers’ interest for better–performing lubricants that are eco-friendlier is also enthralling the market growth. Furthermore, the sudden inclination in heavy-duty motor vehicle engine oils exhibiting extreme durability in adverse geographical conditions & compliance with emission standards in on- and off-highway heavy vehicles again propels the overall growth of the automotive lubricants market, further states the research report, “GCC Automotive Lubricants Market Analysis, 2022.”
Ensuring Minimized Carbon Footprints Augments the Synthetic Lubricant Demand Across the Region.
Based on Base Oil, Synthetic Lubricants are anticipated to gain swift traction in the GCC Automotive Lubricants Market during the forecast period. It owes principally to the unparalleled benefits of these lubricants to offer low freezing point, high boiling point, high level of thermal stability, high Viscosity Index (VI), and others, reducing wear-& -tear, and demonstrating an upsurge in the demand.
Besides, Synthetic fluids also have an upper hand over other variants, due to their ability to perform over a wide temperature range & for job sites subjected to extreme heat or cold. Also, synthetic lubricants enable longer service intervals, further amplifying market growth.
Saudi Arabia’s Commitment to Become Auto Hub Enthralling the Market Growth
On the geographical front, Saudi Arabia is anticipated to dominate the GCC Automotive Lubricants Market with the largest share during the forecast period. This dominance attributes to the introduction of chemical-free, bio-based automotive lubricants offering extreme lubricity aiming to enhance the overall efficiency of the vehicle without compromising the environment.
Besides, Saudi Arabia’s pledge to attract more automakers & investors to establish a strong foothold in the automotive industry is further paving the way for prominent lubricant manufacturers to increase their production & distribution capacities and cater to the burgeoning demands in the country. The same aspect shall further exemplify an upward trajectory of the GCC Automotive Lubricants Market in the coming years.
The leading players in the GCC Automotive Lubricants Market are ADNOC, Aramco, Chevron Lubricants, Gulf Oil International, FUCHS Lubricants Germany GMBH, Exxon Mobil, British Petroleum, Valvoline, Total Energies, Oscar Lubricants LLC, Kuwait Lube Oil Co., EPCCO Lubricants, Others.
Key Questions Answered in the Research Report