Global lubricant market has presented a proficient growth during the recent trend. The existence of abundant base oil and lower cost of manufacture has positively suggested the respective regions of augment the introduction. The effective growth in the number of commercial vehicles and passenger cars, increasing investment in the infrastructure and advanced industrial development have been influencing the requirement for the lubricants. The speedy growth in the vehicle populace in the respective region, increasing disposable incomes of the customers and vigorous GDP growth rates in the respective region enabling the governments to invest in the infrastructural and industrial advancement projects are measured foremost to fuel the market in the coming years more positively.
According to global lubricant market research reports, there are numerous active players which recently performing more positively for leading the speedy market growth and registering the highest value of market share around the globe throughout the review period while developing the infrastructure, increasing the usage of lubricants, advancing the applications of the lubricants, investing the high amount of money and analyzing the competitive strategies of competitors across the globe includes Abu Dhabi National Oil Company, Al Jomaih and Shell Lubricating Oil Company Limited, Alhamrani-Fuchs Petroleum Saudi Arabia Limited, Behran Oil Company, BP, Co-operation Petroleum Co. (Copetrole), Emarat Misr, Emirates Lube Oil Co. Ltd., Emirates National Oil Company, ExxonMobil, Iranoil Oil Company, Misr Petroleum Company, NAFTAL, Pars Oil Company, Petromin Corp., Sepahan Oil Company, Vivo Energy, Chevron, Mogas, ENOC, KenolKobil, Petrocity, Oryx Energies, Hass Petroleum, and several other players are Habib Oil, Ravoline, Potenza, Uni Oil, Libya Oil, Mount Meru.
Not only has this, in the global lubricant industry the players are adopting the policies and strategies of joint ventures, mergers and acquisitions and partnerships, introducing new technologies of production, advancing the production techniques, introducing the new product at a reasonable price and employing the skilled workers which positively further effected the rate of revenue and profit and lead the market growth more significantly in the coming years.
However, within the Uganda, the market witnessed to be moderately concentrated at the stage of competition with the existence of foremost international corporates which attained most of the sales capacity of the lubricants during the forecast period. Whereas, the Uganda lubricant market is projected to increase at a positive CAGR during the reviewed duration influenced by growing the government spending on the infrastructure, antagonistic investment in the industries and construction of pipeline in Hoima which will cooperatively generate a positive impact on the market.
Nonetheless, based on the application, it is anticipated that the automotive lubricants will still be the foremost variety in the Uganda region however, the industrial lubricants will increase in the coming years. Within the sector of automotive, it is projected that the passenger vehicles and motorcycles will still lead in the terms of advantages whereas, the producing and construction segment will be the leading end user varieties under the industrial lubricants sector in the coming years.
Although in the UAE lubricant market, based on the end user, the construction industry expended maximum amount of industrial lubricants which are demanded for the lubrication of substantial machinery that is frequently utilized in this industry. Power generation segment which typically demands the transformer oils and engine oils is the next principal customer of industrial lubricants and manufacturing segment registered for the minor share of lubricant consumption in the region. Therefore, in the coming years, it is anticipated that the global lubricant market will increase around the globe more significantly over the near years.
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Ankur Gupta, Head Marketing & Communications