Malaysia Automotive Lubricant Market Expected to cross MYR 18 Billion by 2025: Ken Research
The report concludes with market projections for future of the industry including forecasted industry size by revenue and sales volume.
GURUGRAM, India, Sept. 1, 2021 /PRNewswire/ --
- High per capita income and unreliable public transport has lead to increase in private vehicle ownership. On an average, a passenger car, a motorcycle travels and a truck in Malaysia travels ~28,000 km, 21,000 km and 90,000 km per annum respectively. Engine oil in passenger car, motorcycle and trucks is usually changed after travelling 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 majority of vehicles are located in these states.
- Malaysia automotive sales slowdown will lead to decrease in demand of 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 increasing adoption of battery electric vehicle 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 circulation of fake lubricants and lack of lubricant change knowledge act as a inertia to online sales channel 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 implementation of national lockdown from March 2020. Pause in economic activities is expected 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 on 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 competition benchmarking. The report concludes with market projections for future of the industry including forecasted industry size by revenue and sales volume.
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
For More Information on the research report, refer to below link:-
Malaysia Automotive Lubricant Market
Related Reports:-
Malaysia industrial lubricants market has been observed to be in growth phase and the industry is meeting demand expectations of every end user industry majorly by importing base oil from foreign countries and domestically producing industrial lubricants in the country. During 2013 to 2018, the market experienced a cumulative growth rate of about 3% owing to factors such as increasing demand from end user industries, new industrial policies, introduction of bio based lubricants, increase in number of players in the market and others similar factors.
The lubricants market in Vietnam was witnessed to be growing at a steady rate both in terms of sales volume and revenue owing to rapid industrialization and growth in vehicle sales across the country. Importing majority of its base oil for blending lubricants, Vietnam market lacks refining capabilities, although there is significant presence of blending plants for lubricants. Mineral lubricants registered the highest popularity among all three grades of lubricants, courtesy their low retail price. The report also covers value chain analysis, competition landscape, trends and developments, issues and challenges, end user analysis and government regulations pertaining to lubricants market in Vietnam. The report concludes with future outlook of lubricants in Vietnam and certain recommendations highlighting the success factors for entering and expanding in the market.
Saudi Arabia Lubricant market is at the maturity stage. Saudi Arabia Lubricants Market in terms of revenue has increased at a positive CAGR during the period 2008-2014, but due to the Oil slump in the year 2014-15, the growth of the market slowed down, hence the market is experiencing a negative growth during the period 2014-2018. This decline in growth was also due to other factors such as Economies such as China, Brazil, Russia and India whose rapid growth and expansion created an unquenchable thirst for oil initially, began to slow after 2010. USA and Canada started exporting oil due to high oil prices, cut their oil imports, which further increased the supply of oil. Saudi Arabia's continued to supply crude oil after the fall of Oil prices in 2014 in a bid to maintain their market share with the rest of the world. The customers in the market highly price sensitive and lack of awareness about the advantages of synthetic-based lubricants over mineral-based lubricants leading to mineral oils having a higher market share.
Brazil is the largest consumer of finished lubricants in South America apart from being the largest automotive market in the region. The sheer size of the country and its favorable geographical location & macro-economic factors has compelled almost all major multinational companies to enter the market. The industry faced a decline due to the economic crisis in the country till 2016 but it experienced slow recovery from 2017 onwards. The robust automotive sector in the country is one of the largest growth drivers in the industry. Continuous investment in research & development and marketing activities by the lubricant manufacturers is positively impacting the industry's growth.
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