Nigeria Automotive Engine Oils Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 170.93 Million Liters |
| Market Volume (2026) | 177.98 Million Liters |
| CAGR (2024 - 2026) | 2.04 % |
| Market Concentration | High |
Nigeria Automotive Engine Oils Market Analysis
The Nigeria Automotive Engine Oils Market size is estimated at 170.93 Million Liters in 2024, and is expected to reach 177.98 Million Liters by 2026, growing at a CAGR of 2.04% during the forecast period (2024-2026).
- Largest Segment by Vehicle Type - Commercial Vehicles : The Nigerian commercial vehicle sector has the highest engine oil consumption as the country has 3.8 million CVs, most of which are obsolete CVs that require frequent repair.
- Fastest Segment by Vehicle Type - Motorcycles : Nigeria is predicted to have the fastest rise in demand for motorcycle engine oil, owing to a robust comeback in low-cost motorcycle sales and rising travel rates.
Nigeria Automotive Engine Oils Market Trends
This section covers the major market trends shaping the Nigeria Automotive Engine Oils Market according to our research experts:
Largest Segment By Vehicle Type : Commercial Vehicles
- In Nigeria, engine oils accounted for over 74% of overall automotive lubricants in 2020. During 2015-2019, engine oil consumption increased at a CAGR of 0.5%. The growing active vehicle fleet in the country was the key driver for this trend.
- In 2020, the COVID-19 outbreak led to a massive decline in the usage rate of the existing vehicle fleets in the country, which led to a 6.3% dip in engine oil consumption. The passenger vehicle (PV) segment recorded the largest decline of 7.8% in engine oil consumption during the year, over 2019.
- During 2021-2026, the motorcycles segment is expected to register the highest growth of 3.4% in engine oil consumption, followed by the CV segment (2.1%). The growth in the motorcycles segment is likely to be driven by the strong demand for mopeds and motorcycles in the country over the next five years.
Nigeria Automotive Engine Oils Industry Overview
The Nigeria Automotive Engine Oils Market is fairly consolidated, with the top five companies occupying 67.72%. The major players in this market are 11Plc, Ardova Plc, BP Plc (Castrol), Oando Plc and TotalEnergies (sorted alphabetically).
Nigeria Automotive Engine Oils Market Leaders
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11Plc
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Ardova Plc
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BP Plc (Castrol)
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Oando Plc
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TotalEnergies
*Disclaimer: Major Players sorted in no particular order
Nigeria Automotive Engine Oils Market News
- November 2021: Ardova PLC acquired Enyo Retail & Supply Limited in 2021. This acquisition adds Enyo's 95 retail stations to Ardova's existing 450 stations, growing its portfolio to 545 stations nationwide.
- October 2021: Valvoline and Cummins extended their long-standing marketing and technology collaboration agreement for another five years. Cummins will endorse and promote Valvoline's Premium Blue engine oil for its heavy-duty diesel engines and generators and will distribute Valvoline products through its global distribution networks.
- April 2021: Total Nigeria PLC and Moove Africa signed a Memorandum of Understanding to form a partnership that would improve the welfare of Moove vehicle drivers by providing access to the fleet management system, as well as premium services and price reductions on lubricants and other services.
Nigeria Automotive Engine Oils Market Report - Table of Contents
1. Executive Summary & Key Findings
2. Introduction
2.1 Study Assumptions & Market Definition
2.2 Scope of the Study
2.3 Research Methodology
3. Key Industry Trends
3.1 Automotive Industry Trends
3.2 Regulatory Framework
3.3 Value Chain & Distribution Channel Analysis
4. Market Segmentation
4.1 By Vehicle Type
4.1.1 Commercial Vehicles
4.1.2 Motorcycles
4.1.3 Passenger Vehicles
4.2 By Product Grade
5. Competitive Landscape
5.1 Key Strategic Moves
5.2 Market Share Analysis
5.3 Company Profiles
5.3.1 11Plc
5.3.2 Ammasco International Limited
5.3.3 Ardova Plc
5.3.4 BP Plc (Castrol)
5.3.5 Conoil Plc
5.3.6 MRS Oil Nigeria Plc
5.3.7 Oando Plc
5.3.8 Royal Dutch Shell Plc
5.3.9 TotalEnergies
5.3.10 Valvoline Inc.
6. Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
Nigeria Automotive Engine Oils Industry Segmentation
| By Vehicle Type | |
| Commercial Vehicles | |
| Motorcycles | |
| Passenger Vehicles |
Nigeria Automotive Engine Oils Market Research FAQs
How big is the Nigeria Automotive Engine Oils Market?
The Nigeria Automotive Engine Oils Market size is expected to reach 170.93 million Liters in 2024 and grow at a CAGR of 2.04% to reach 177.98 million Liters by 2026.
What is the current Nigeria Automotive Engine Oils Market size?
In 2024, the Nigeria Automotive Engine Oils Market size is expected to reach 170.93 million Liters.
Who are the key players in Nigeria Automotive Engine Oils Market?
11Plc, Ardova Plc, BP Plc (Castrol), Oando Plc and TotalEnergies are the major companies operating in the Nigeria Automotive Engine Oils Market.
Which segment has the biggest share in the Nigeria Automotive Engine Oils Market?
In the Nigeria Automotive Engine Oils Market, the Commercial Vehicles segment accounts for the largest share by vehicle type.
Which is the fastest growing segment in the Nigeria Automotive Engine Oils Market?
In 2024, the Motorcycles segment accounts for the fastest growing by vehicle type in the Nigeria Automotive Engine Oils Market.
What years does this Nigeria Automotive Engine Oils Market cover, and what was the market size in 2023?
In 2023, the Nigeria Automotive Engine Oils Market size was estimated at 168.51 million Liters. The report covers the Nigeria Automotive Engine Oils Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Nigeria Automotive Engine Oils Market size for years: 2024, 2025 and 2026.
Nigeria Automotive Engine Oils Industry Report
Statistics for the 2024 Nigeria Automotive Engine Oils market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Nigeria Automotive Engine Oils analysis includes a market forecast outlook to 2026 and historical overview. Get a sample of this industry analysis as a free report PDF download.
