Kenya Automotive Lubricants Market Trends 2024, Share, Growth Drivers, Revenue, Top Key Players, Challenges, Future Opportunities and Forecast 2033: SPER Market Research
Automotive lubricants are essential for keeping a vehicle running smoothly and safely. They are made from a variety of base oils. Mineral-based lubricants are widely used over the world due to their accessibility of availability. However, the use and popularity of synthetic or bio-based lubricants has skyrocketed, transforming the industry. Consumers have benefited from technology advancements in a variety of ways, including increased oil drain and service intervals, higher fuel efficiency, and extended warranty periods.
According to SPER Market Research, ‘Kenya Automotive Lubricants Market Size- By Product Type, By Vehicle Type, By Composition, By Sales Channel – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the Kenya Automotive Lubricants Market is estimated to reach USD 133.94 million by 2033 with a CAGR of 5.26%.
Drivers: Growing consumer demand for synthetic and bio-based lubricants—which are high-performing and environmentally friendly—is propelling the automotive lubricants market. In order to create bespoke lubrication solutions, lubricant producers and equipment manufacturers can also work together. In speciality industries like food processing and pharmaceuticals, there is also a growing need for specific lubricants. Additionally, investigation of export potential in bordering countries and growth into uncharted regions of Kenya. The emphasis on preventive maintenance to improve equipment efficiency and longevity drives up the need for lubricants.
Restraints: Automotive lubricants enhance the life of a vehicle by reducing friction and safeguarding its solid moving parts. However, when lubricants and technologies improve, the growth rate reduces dramatically. The expanding usage of synthetic lubricants, which provides benefits such as enhanced fuel efficiency, has lengthened oil drain intervals in automobiles from 6-12 months to 18-24 months. Furthermore, purchasers choose high-quality lubricants with longer oil drain intervals to protect their automobiles. However, this has hampered the market’s volume expansion, and volume growth is expected to remain moderate during the forecast period. Furthermore, rising sales of electric vehicles are expected to stymie industry growth in the coming years because they do not require engine oil.
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Impact of COVID-19 on Kenya Automotive Lubricants Market
The COVID-19 outbreak has a wide-ranging impact on Kenya’s lubricant industry. Demand decreased during the shutdown due to reduced economic activity and travel restrictions. But as commercial operations resumed, the market rebounded. The pandemic also raised attention to the importance of trustworthy lubricants and preventive maintenance in order to ensure continued functioning.
Kenya Automotive Lubricants Market Key Players:
The demand and consumption patterns in the Kenyan lubricants market vary by area. Nairobi holds the biggest market share because it is the capital and a significant industrial hub. Galana Energies Limited, Hass Petroleum, Kenol & Kobil, National Oil Corporation of Kenya, Energising Kenya, OLA Energy, and Others are some of the major companies in the market.
Kenya Automotive Lubricants Market Segmentation:
By Product Type: Based on the Product Type, Kenya Automotive Lubricants Market is segmented as; Engine Oil, Transmission & Hydraulic Fluids, Gear Oil, Grease, Chain Oil, Brake Fluids, Others.
By Vehicle Type: Based on the Vehicle Type, Kenya Automotive Lubricants Market is segmented as; ICE Vehicles EV.
By Composition: Based on the Composition, Kenya Automotive Lubricants Market is segmented as; Mineral Oil Lubricants, Fully Synthetic Oil Lubricants, Semi-synthetic Lubricants.
By Sales Channel: Based on the Sales Channel, Kenya Automotive Lubricants Market is segmented as; Original Equipment Manufacturers (OEMs), Aftermarket.
By Region: This research also includes data for Eastern, Northern, Southern, Western.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
And More…
Kenya Automotive Lubricants Market Demand
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