Escalating Commercial Vehicle Fleet to Augment the UAE Automotive Lubricants Market
The UAE
Automotive Lubricants Market size is anticipated to grow at
a CAGR of around 3.1% during the forecast period of 2024-30, cites MarkNtel
Advisors in the recent research report. The rising prevalence of
vehicles, fueled by a surge in vehicle ownership and the expanding footprint of
commercial ventures like e-commerce and ride-hailing, has heightened the demand
for lubricants to ensure the smooth operation of these vehicles. The hot and
arid climate in the UAE adds an extra layer of strain on engines, requiring
more frequent oil changes and lubrication. This emphasis on vehicle maintenance
becomes crucial to prevent overheating and minimize both frequent engine wear
and operating costs.
Moreover, as the UAE continues its substantial investments
in infrastructure and construction endeavors, there is a notable surge in demand
for commercial vehicles and machinery nationwide. These projects, integral to
the Abu Dhabi Vision 2030 and Dubai Plan 2021, are fueling increased usage of
commercial vehicles in loading and unloading construction materials at various
sites, thereby escalating the consumption of lubricants.
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The proactive initiatives by the UAE government to promote
sustainable practices and the use of high-quality lubricants further play a
pivotal role in sustaining market demand. Consequently, the substantial
investment in infrastructure projects and the heightened focus on
sustainability are anticipated to drive the growth of the Automotive
lubricants market in the forecast period, further states the research
report “The UAE Automobile Lubricants Market Analysis, 2024.”
Segmentation Analysis
Engine Oil to Hold Prominent Market Share
Based on the type segment, the market is further bifurcated
into, engine oil, gear oil, transmission fluids, brake fluids, greases,
coolants & antifreezes, and others (additives, oil benders, etc.). Among
them, engine oil accounts significant share of the market. The country's harsh
conditions, characterized by high temperatures and desert landscapes,
contribute significantly to the heightened demand for engine oil. Engine oil
plays a vital role in safeguarding engine components from extreme heat,
ensuring smooth operation in challenging environments.
The imperative for frequent oil changes and high-quality
engine lubrication becomes crucial to prevent overheating, minimize friction,
and prolong the lifespan of vehicles. Additionally, as the number of cars and
commercial vehicles on the road continues to grow, the universal reliance on
engine oil for proper functioning further cements its position in the market.
Moreover, the continued rise in demand for premium vehicles
is driven by new visa regulations, including the Green Visa and Golden Visa,
targeting businesspersons, celebrities, and high-income individuals. This is
expected to result in a further uptick in the adoption of premium vehicles,
thereby contributing to the increased use of engine oil.
Dubai Projected to Account Major Share of the UAE Automotive Lubricants Market
Geographically, the UAE Automotive Lubricants Market is
segmented into Abu Dhabi & Al Ain, Dubai, Sharjah & Northern Emirates.
Among them, Dubai is projected to account for the major share of the UAE
lubricants market in the upcoming years. The upswing in construction and
infrastructure projects in Dubai, aligned with strategic plans like Dubai Plan
2021, is a key driver amplifying the demand for construction vehicles and
machinery, thereby bolstering the requirement for automotive lubricants.
Moreover, the Dubai government is proactively promoting fuel
efficiency and the reduction of emissions through diverse initiatives, notably
the execution of the Green Mobility Strategy. This is poised to drive the
demand for high-performance lubricants in the foreseeable future, enhancing
both fuel efficiency and emissions reduction. Consequently, this is expected to
play a pivotal role in elevating Dubai's share within the UAE Automotive
Lubricants Market during the forecast period.
Explore the Complete UAE
Automotive Lubricants Market Analysis Report – https://www.marknteladvisors.com/research-library/uae-automotive-lubricants-market.html
Competitive Landscape
With strategic initiatives, such as mergers, collaborations,
and acquisitions, the leading market companies, including Shell UAE, ADNOC,
Chevron Alkhalji, Gulf Oil International Ltd, Fuchs Oil Middle East Ltd., Exxon
Mobil Corporation, British Petroleum, Valvoline Middle East & Africa, Total
Energies, Oscar Lubricants LLC. EPPCO Lubricants, and others are looking
forward to strengthening their market position.
Key Questions Answered in the Research Report
- What
are the industry’s overall statistics or estimates (Overview, Size- By
Value, Forecast Numbers, Segmentation, Shares)?
- What
are the trends influencing the current scenario of the market?
- What
key factors would propel and impede the industry across the country?
- How
has the industry been evolving in terms of geography & product
adoption?
- How
has the competition been shaping across the country?
- How
have the buying behavior, customer inclination, and expectations from
product manufacturers been evolving during 2019-30?
- Who
are the key competitors, and what strategic partnerships or ventures are
they coming up with to stay afloat during the projected time frame?
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