Motorcar and motorcycle ownership is increasing in Malaysia due to high per capita income and inefficient public transport system. This has been boosting the demand for the automotive lubricant industry in the country. Presently, the market is growing at a CAGR of ~11% between 2015 and 2020 but as per Ken Research report, the industry has a high potential to touch MYR 13 billion on the basis of revenue by 2025. Want to know the supporting factors behind this growth? Read the complete white paper now.
1. With more than 32 million vehicles on road in 2020, Malaysia is the 3rd largest Automotive Industry in SEA region
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2. More than 90% of the New Vehicles Registered are Passenger Vehicles which provides a Huge Target Audience for Automotive Lubricants in Malaysia
3. Presently, the Lubricants sector is in a Growing Phase with Increasing number of Vehicles on Road
4. Growing Used Car Sales, Online Presence, and Diverse Product Portfolio are some of the variables assisting Lubricant sales volume in Malaysia
5. However, the Sale of Fake Lubricants, Lower Pricing at Hypermarkets, and Dependence on Imports are some of the Challenges faced by Companies in the Automotive Lubricants Market in Malaysia
6. But the industry has a strong potential to grow with double-digit CAGR owing to Increasing Automobile Demand, Consumption of Synthetic and Semi-Synthetic Lubricants in Malaysia
Some of the Intelligence Curated by Ken Research in Automotive Lubricant Market Space:
- KSA Automotive Market Outlook to 2027 Driven by rising influx of women drivers and domestic manufacturing in the KSA
- India MBO Two Wheelers Market Outlook to 2027 Driven by economic recovery after COVID and increasing demand for 2Ws is helping the MBOs players to sustain their market position in the high fragmented market structure
- KSA EV Charging Equipment Market Outlook to 2027F Driven by Government Initiatives, Demand for Eco-friendly Transportation and Entry of New Brands in the market
- Nigeria Lubricants Market Outlook 2027F Driven by demand for expanding wind energy sector & rising demand for high performance lubricants
- USA EV & EV Charging Equipment Market Outlook to 2027 Driven by growing market driven by government support and customer drive towards cost-efficient mobility
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