Automotive Lubricants Market in Malaysia is driven by the Growth in Number of Passenger Vehicles on Road and the rapidly increasing demand for High Performing Lubricants Despite their premium pricing: Ken Research
Increase in income level generally in urban areas contributing towards increasing demand for Passenger Vehicles and a shift in preference to expensive synthetic and semi-synthetic lubricants have driven the market for Automotive Lubricants industry in recent years.
A Significant growth has been observed in the number of passenger vehicles on road majorly due to the fact that people prefer travelling by their own vehicle instead of the public transport. On an average, a passenger car and a motorcycle in Malaysia travels ~2,300 km and ~1,800 km respectively on a monthly basis. Major regional hubs in the Malaysia are the Kuala Lumpur, Penang, Perak, Selangor and Johor as majority of vehicles are located in these regions.
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Impact of Covid-19: Demand of Lubricants for Heavy duty diesel vehicles was not affected as the major construction and manufacturing activities were permitted during the lockdown, whereas the sales volume of lubricants for passenger vehicles witnessed a double digit decline due to the travel restrictions by the lockdown and work from home introduced by various companies. The average km travelled by a vehicle in the country also declined since the non-essential movement was not permitted in the country. Major companies faced the challenge of importing raw materials and finished products because of the trade restrictions caused by the Covid Pandemic.
Future Trends: Introduction of lubricants for electric vehicles would be a major trend for Automotive Lubricants Market In Malaysia to cater the increasing number of EVs on road. Companies are being forced to change the formulations for their lubricants to cater the demand for the changing vehicle engine norms. Vehicle owners in Malaysia would be switching towards high performance lubricants despite their premium pricing. The automotive lubricants industry would also be supported by the Malaysian government’s National Automotive Policy which tends to focus on strengthening the capabilities of the domestic automotive industry and creating a mechanism to promote investments to ramp up the domestic production which will result in the increased demand for automotive lubricants.
The report titled “Malaysia Automotive Lubricants Market outlook to FY2026” by Ken Research suggested that the Automotive Lubricants Market revenue is expected to grow at a double digit positive CAGR and the Automotive Lubricants Market sales volume is expected to grow at a single digit positive CAGR. The synthetic lubricants in Malaysia are expected to showcase the highest growth with a positive double digit CAGR and the passenger vehicle lubricants will occupy almost half of the market share in the coming years.
Key Segments Covered in the Report: –
- Market Size of Malaysia Automotive Lubricants in terms of Sales Volume in Mn L, 2020
- Market Size of Malaysia Automotive Lubricants in terms of Sales Revenue in MYR, 2020
- Market Segmentation of Malaysia Automotive Lubricants in terms of Sales Volume in Mn L, 2020
By End User Industry
- Passenger Vehicle
- Commercial Vehicle
- Motorcycles
- Marine
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By Grade
- Synthetic
- Semi-Synthetic
- Mineral
By Type
- Passenger Car Engine Oil
- Heavy Duty Engine Oil
- Motorcycle Oil
- Gear oil and Transmission Oil
- Hydraulic Oil
- Grease and others
By Sales Channel
- OEMs
- Fuel Stations
- OEM Workshops and Spare Part Shops
- Service Stations and Garages
- Online
- Hypermarket/Supermarket
By Viscosity Grade
- 0W-20
- 5W-40
- 10W-40
- 15W-40
- 15W-50
- Others
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
Companies Covered:
- Shell
- Petronas
- Total
- Chevron
- Castrol
- Hyrax
- Mobil
- Others
Key Topics Covered in the Report: –
- Automotive Lubricants Market Size on the Basis of Sales Volume and Revenue
- Automotive Lubricants Market Segmentation – By type of Lubricant, By Grade of Lubricant, By Viscosity, By End Users
- Target Addressable Audience – Passenger and Commercial Vehicles, Regional Analysis, Used Car Sales
- Supply Ecosystem and Competition Parameters
- Value chain analysis in the Automotive Lubricants Market in Malaysia
- Demand Scenario
- Trends and Developments in Automotive Industry in Malaysia
- Growth Drivers for Automotive Industry in Malaysia
- Marketing Strategies
- Challenges Faced by Lubricant Producers
- Porter Five Force Analysis
- Emerging Business Strategies
- Best Practises in Business
- Pricing Analysis
- Customer Buying Decision Parameters
- Cross Comparison Between Major Players in The Industry
- Impact of Covid-19 on the Automotive Lubricants Industry in Malaysia
- Future Projections and Market Size for Malaysia Automotive Lubricants Industry
For More Information on the research report, refer to below link: –
Malaysia Automotive Lubricant Market Research Report
Related Reports by Ken Research: –
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