Saudi Arabia Automotive Lubricants Market Growth Analysis - Forecast Trends and Outlook (2024-2032)

Saudi Arabia Automotive Lubricants Market Size

The Saudi Arabia automotive lubricants market size attained approximately USD 1.15 billion in 2023. The market is estimated to grow at a CAGR of 4.10% in the forecast period of 2024-2032, reaching a value of around USD 1.65 billion by 2032.

Key Trends in the Market

Automotive lubricants refer to a fluid or a substance which is primarily used on vehicle parts to reduce friction, heat, corrosion, and wear and tear. It comes in solid, semi-solid, liquid, and gas forms and can also be used for cooling the engine.

• Growing focus on enhancing the fuel efficiency of vehicles to reduce carbon emission is one of the crucial Saudi Arabia automotive lubricants market trends. Lubricants can minimise friction and reduce fuel consumption in vehicles.

• A surge in the production of electric vehicles in the country propels the demand for EV- specific lubricants such as nanotechnology-based anti-wear and friction lubricants, ionic liquids, and low-viscosity oils, among others.

• Properties of automotive lubricants such as protection against wear and tear and increased durability also catalyses their usage in vehicles. Besides, the introduction of stringent regulations by the Saudi Arabian government to encourage the implementation of sustainable or bio-based lubricants as an alternative to petroleum-based lubricants due to the rise in environmental concerns fuels the Saudi Arabia automotive lubricants market growth.

Market Analysis

Based on grade, the market is divided into mineral oil lubricants, synthetic lubricants, semi-synthetic lubricants, and bio-based lubricants. The Saudi Arabia automotive lubricants market segmentation, on the basis of product, includes engine oil, gear oil, transmission fluids, brake fluids, coolants, and greases. Based on vehicle type, the market is categorised into passenger vehicles, commercial vehicles, and motorcycle.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Saudi Arabia automotive lubricants market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• BP PLC (Castrol)  

• Exxon Mobil Corporation

• FUCHS Group

• Chevron Corporation

• TotalEnergies

• Motul

• Amsoil Inc. 

• Ravensberger Schmierstoffvertrieb GmbH

• PETRONAS Lubricants International

• BIZOL Germany GmbH

• Others

Market Share by Product

Engine oil accounts for a significant portion of the Saudi Arabia automotive lubricants market share due to its high usage for ensuring smooth functioning of the vehicle by reducing wear and tear. It is also a cost-effective option and easily available at any auto repair shop, which boosts its popularity among car owners.

Furthermore, it reduces overheating of an engine by providing a protective barrier. Its compatibility with different types of vehicles such as motorcycles, commercial vehicles, and heavy-duty vehicles, among others, makes it a viable option for use in the automotive sector.

Market Share by Vehicle Type

According to the Saudi Arabia automotive lubricants market analysis, passenger vehicles account for a substantial share of the market due to the growing ownership of passenger cars. Moreover, a rise in per capita income also bolsters the demand for passenger vehicles, further accelerating the implementation of automotive lubricants. Additionally, investments in research and development by key market players for the manufacture of superior-quality automotive lubricants for passenger vehicles heighten the growth of the market.

Competitive Landscape of Saudi Arabia Automotive Lubricants Industry

BP PLC (Castrol), founded in 1899 with its headquarters in London, the United Kingdom, is an oil production company. It provides oils, lubricants, fuel cards, oil and gas trading, and other lubricant applications.

Exxon Mobil Corporation is a multinational oil and gas company, founded in 1999 and based in Texas, the United States. The company provides refining and production of petroleum and natural gas as well as manufacturing of petrochemicals.

FUCHS Group, established in 1931, is a lubricant manufacturer based in Mannheim, Germany. The group provides a wide array of products such as automotive lubricants and industrial and hydraulic products, among others.

Other Saudi Arabia automotive lubricants market players include Chevron Corporation, TotalEnergies, Motul, Amsoil Inc., Ravensberger Schmierstoffvertrieb GmbH, PETRONAS Lubricants International, and BIZOL Germany GmbH, among others.

Key Highlights of the Report