Summary
The South Africa Passenger Vehicles Lubricants Market stood at 98.52 million liters in 2021 and is projected to register a CAGR of 3.50% to reach 117.03 million liters in 2026.
Key Highlights
Largest Segment by Product Type - Engine Oils : As it is used in enormous amounts and replenished more frequently than other product categories, engine oil is highly popular in SUVs and sedans in South Africa.
Fastest Segment by Product Type - Transmission & Gear Oils : Transmission oil consumption will likely record the fastest growth in the South African passenger vehicle industry due to an expected rise in automatic car penetration.
Key Market Trends
Largest Segment By Product Type : Engine Oils
The passenger vehicle (PV) segment is the second-largest segment in terms of automotive lubricant consumption in South Africa. During 2015-2019, PV lubricant consumption recorded a CAGR of 1.83%, primarily due to the surge in the car population of the country.
In 2020, PVs accounted for about 39% of the total automotive lubricant consumption in the country. Engine oil accounted for the largest share in PV lubricant consumption, with a share of over 85% during the year. During 2020, PV lubricants consumption declined by 2.87% due to the lower usage of the vehicle fleet post the COVID-19 outbreak.
During 2021-2026, the transmission oils segment is projected to grow at a steady rate, exhibiting a CAGR of 5.5%. This growth is likely to be driven by the rise in sales of passenger cars (both new and used) and recovery in average distance traveled in the country.
Competitive Landscape
The South Africa Passenger Vehicles Lubricants Market is fairly consolidated, with the top five companies occupying 75.69%. The major players in this market are Astron Energy Pty Ltd, BP PLC (Castrol), Engen Petroleum Ltd, Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
