According to the report by Expert Market Research (EMR), the [FURL=https://bityl.co/RwNa]Saudi Arabia Automotive Engine Oils Market Size[/FURL] reached a value of USD 66.25 million in 2023. Aided by the dynamic shifts in the automotive industry and evolving consumer preferences, the market is projected to grow at a CAGR of 2.40% between 2024 and 2032 to reach a value of USD 824.55 million by 2032.Automotive engine oils are crucial for the efficient operation of vehicle engines, offering lubrication that reduces wear, minimises heat accumulation, and extends engine life. The demand for high-quality engine oils is rising in Saudi Arabia, reflecting the country’s hot climate, which imposes significant stress on vehicle engines.
Saudi Arabia’s automotive market is expanding due to increasing disposable income and the easing of driving restrictions for women, which has led to a rise in vehicle ownership. This increase in automotive sales directly boosts the demand for engine oils. Moreover, the introduction of advanced engine oil formulations that offer better protection against wear and tear, improve fuel efficiency, and reduce oil change intervals is attracting consumers seeking to maximise their vehicle’s performance and lifespan. This is expected to drive the Saudi Arabia automotive engine oils market expansion.
Get a Free Sample Report with a Table of Contents: [FURL]https://bityl.co/RwNf[/FURL]
Rapid urbanisation and robust economic growth are enhancing consumer mobility needs, subsequently driving the demand for automotive lubricants. Moreover, the Saudi government’s stringent environmental regulations are pushing manufacturers to develop engine oils that comply with these standards, thereby fostering innovations in environmentally friendly and high-performance products.
Several trends are shaping the Saudi Arabia automotive engine oils market development. The trend of ‘Do It Yourself’ (DIY) car maintenance is growing among consumers, influenced by digital platforms that offer educational content on vehicle upkeep. This trend is promoting higher direct consumer purchases of engine oils.
The expansion of commercial activities and logistics in Saudi Arabia due to economic diversification plans under Vision 2030 is increasing the demand for commercial vehicles, which, in turn, boosts the market.
There is a noticeable shift from conventional mineral oils to synthetic oils, which provide enhanced lubrication, better temperature stability, and longer oil life, particularly beneficial in the Saudi desert climate. This is one of the key Saudi Arabia automotive engine oils market trends.
Competitive Landscape of Saudi Arabia Automotive Engine Oils Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Saudi Arabia automotive engine oils market. Some of the major players explored in the report by Expert Market Research are as follows:
BP PLC
Exxon Mobil Corporation
FUCHS Group
Chevron Corporation
TotalEnergies SE
Motul
Ravensberger Schmierstoffvertrieb GmbH
PETRONAS Lubricants International
BIZOL Germany GmbH
Others