Saudi Arabia Lubricant Sales Volume is Expected to Reach over 500 Million litres by 2023: Ken Research

Key Takeaways
Increasing Consumption of Synthetic and Semi-Synthetic Lubricants in the Saudi Arabia: Synthetic and semi-synthetic lubricants are majorly used in the industrial as well as in the automotive sector for the efficient functioning/smooth working of machines and motor vehicles. Both types of lubricants are growing in popularity owing to their wide capability of improving industrial equipment’s productivity and the increase in the sales of Automobile vehicles both LMV (Light motor vehicle) and HMV (Heavy motor vehicle)

Increase in Power Generation Capacity: The power generation sector of Saudi Arabia has been constantly rising from the past few years, in a bid to reach their goal of a capacity of 120GW by 2032. Moreover, the increasing government expenditure on the development of infrastructure in the country is expected to amplify the share of Construction sector, Power Generation and Manufacturing. The heavy machinery, especially in the construction, sector used for these sectors will drive the demand for industrial lubricants in Saudi Arabia.

Growing Automobile Sector: The automotive and transportation segment consumes the largest share of total consumption of lubricants among other segments, making it the largest consumer of lubricants and is expected to increase at a positive CAGR of 1.05% during the period 2018-2023. The new vehicle registrations witnessed a rapid growth at a CAGR of 5.76% during 2013-2018 and are expected to increase at a similar rate in the coming years.

Introduction of VAT: Saudi Arabia witnessed introduction of VAT of 5% in January, 2018. The introduction of VAT will impact automotive sector which is already dealing with overstocking and lower margins. The introduction of VAT will impact the supply chain as getting refund from government will be time taking and thus, will affect the flow of cash in market.

Analysts at Ken Research in their latest publication “Saudi Arabia Lubricants Market Outlook to 2023 – By Automotive (Passenger Car Motor Oil, Heavy Duty Engine oils, Hydraulic Oils, Gear Oils & transmission, and Greases), Industrial lubricants (Engine Oils, Turbine oils, Hydraulic oils, Industrial Gear oils, Transformer oils, Compressor oils, Greases); By Origin (Mineral, Synthetic and Semi-Synthetic)” believe that companies should concentrate on synthetic based lubricants especially for automotive segment along with developing specific industrial lubricants according to the application and developing technologies in blending and refining process to make the production process more cost effective. The market is expected to register a positive CAGR of 3.4% in terms of revenue and a CAGR of 0.8% in terms of sales volume / domestic consumption of lubricants during the forecast period of 2018–2023.

For more information on the market research report please refer to the link below:
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/saudi-arabia-lubricants-market/189129-100.html

Key Segments Covered

By Origin
• Mineral
• Synthetic
• Semi-Synthetic

By Type of Lubricant
• Automotive
• Industrial

Further By Type of Automotive Lubricant
• Passenger Car Motor Oils
• Heavy Duty Diesel Engine Oils
• Hydraulic Oils
• Gear Oils & Transmission Fluids
• Greases

By Automotive Type, End User
• Passenger Vehicles
• Commercial Vehicles
• Marine and Aviation

Further Segmentation of Automotive Lubricants Type, By Distribution Channel
• Puncture Shops
• Company Owned-Operated Outlets
• Auto OEM’s
• Others: Others include wholesalers, retailers and OEM service centers.

Further segmentation of Industrial Lubricants, By Type
• Engine Oils
• Turbine oils
• Hydraulic oils
• Industrial Gear oils
• Transformer oils
• Compressor oils
• Greases
• Others: Include specialty lubricants which are custom made like bearing and circuiting oils, rolling oils, spindle oils, slideway oils and process oils.

Further Segmentation of Industrial Lubricants, By End User
• Construction and Heavy Transport/Fleet
• Power generation
• Manufacturing

Further Segmentation of Industrial Lubricants, By Distribution Channel
• Direct Sales as per Approval of OEMs
• Dealer Networks

Companies Covered:
• Petromin Corporation
• Shell (JOSLOC)
• Castrol
• Alhamrani-Fuchs Petroleum Saudi Arabia
• Mobil (Delta Group)
• Total
• Petronas (Unified Lubricants Company)
• Chevron Al Bakri Lubricants Company
• Raf Oil Industries
• Gulf Oil Middle East Limited
• Haji Abdullah Alireza & Co. Ltd
• Amsoil
• Arabian Plant for Lubricants and Greases (APLG)
• United Lube Oil Company. (UNILUBE)
• Yanbu United Industrial Services
• Saudi Oil Company

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Contact Us:
Ankur Gupta, Head Marketing
Ken Research Private Limited
Ankur@kenresearch.com
+91-9015378249

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