Malaysia Automotive Lubricant Market Expected to cross MYR 18 Billion by 2025: Ken Research

• High per capita income and unreliable public transport have led to an increase in private vehicle ownership. On average, a passenger car, a motorcycle travels, and a truck in Malaysia travel ~28,000 km, 21,000 km, and 90,000 km per annum respectively. Engine oil in passenger cars, motorcycles, and trucks is usually changed after traveling 3,000-10,000 km, 1,000-3,000 km, and 20,000-25,000 km respectively.

• Existing regional hubs in the country are Kuala Lumpur, Putrajaya, Labuan, Selangor, Perak, Penang, and Sarawak as the majority of vehicles are located in these states.

• Malaysia automotive sales slowdown will lead to a decrease in demand for auto lubricants. Companies need to evolve their product offerings and develop a reliable lubricant distribution network to maintain a competitive edge in the industry and to recover its sales.

Introduction of Electric Vehicle: With the increasing adoption of battery electric vehicles the existence of traditional engine oil is at stake. However, growing traction towards electric vehicles opens new opportunities for lubricant producers as different high-performance coolants, greases, and other lubricants are required in electric vehicles and hybrid electric vehicles still require synthetic engine oils.

Players Venturing into Online Sales: Increasing the circulation of fake lubricants and lack of lubricant change knowledge act as inertia to online sales channels in the lubricant industry. Companies can remove this inertia by making an official presence in e-commerce platforms such as Lazada and Shopee Mall and by introducing home automotive maintenance services in partnership with workshops and garages.

Market Consolidation: Currently the industry is dominated by multinational oil producers. It is further expected to consolidate as it is a niche space and companies with better geographical reach will take over the smaller companies.

Impact of COVID-19: The industry has experienced a drastic fall in lubricant sales due to the implementation of national lockdown from March 2020. Pause in economic activities is expected to cause a fall industry sales volume by 30% in 2020.

The report titled “Malaysia Automotive Lubricant Market Outlook to 2025- Driven by Growing Vehicle Ownership & Preference for Synthetic Lubricants” provides a comprehensive analysis of the status of the auto lubricant sector in Malaysia. The report covers various aspects including target addressable market, demand analysis, the issues and challenges, major growth drivers, tech disruptions and innovations, and competitive benchmarking. The report concludes with market projections for the future of the industry including forecasted industry size by revenue and sales volume.

For More Information on the Research Report, refer to below links: -
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/malaysia-automotive-lubricant-market-outlook-to-2025/342038-100.html

Key Segments Covered: -
By End-User Industry
Passenger Vehicle
Commercial Vehicle
Motorcycles
Marine

By Grade
Synthetic
Semi-Synthetic
Mineral

By Type
Passenger Car Engine Oil
Heavy-Duty Engine Oil
Motorcycle Oil
Grease
Gear oil and Transmission Oil
Hydraulic Oil

By Sales Channel
OEMs
Fuel Stations
OEM Workshops and Spare Part Shops
Service Stations and Garages
Online
Hypermarket/Supermarket

Companies Covered:
Shell
Castrol
Petronas
Total
Caltex Chevron
Exxon Mobil

Key Target Audience
Lubricant Manufacturing Companies
Oil Producers
Lubricant Distributors
Government Associations

Time Period Captured in the Report: -
Historical Period: 2014–2019
Forecast Period: 2020-2025

Key Topics Covered in the Report: -
Target Addressable Audience
Supply Ecosystem and Competition Parameters
Demand Scenario
Marketing Strategies
Challenges Faced by Lubricant Producers
Porter Five Force Analysis
Emerging Business Strategies
Best Practises in Business
Pricing Analysis

Related Reports by Ken Research: -

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/malaysia-industrial-lubricants-market/264294-100.html

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/vietnam-lubricants-market-outlook/263651-100.html

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

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This release was published on openPR.