Future Outlook of Kenya Lubricants Market: Ken Research
Kenya Lubricants Market Ecosystem
Kenya’s Lubricants market is expanding as a result of increasing automotive sales, a rise in research and development in the sector, marketing activities, and also strategic partnerships and collaborations with other players, OEMs, and vehicle insurers to increase market penetration. Major players in the lubricants market in Kenya include Total Kenya, Vivo Energy (Shell), OLA Energy, Kenol Kobil, and National Oil Corporation of Kenya, among others.
Key Market Findings:
- Kenya's government intends to boost the domestic assembly of motor vehicles by providing tax breaks. This, in turn, is expected to boost Kenya's domestic vehicle assembly operations in the coming years.
- In 2022, used cars accounted for more than 80% of all motor vehicles registered in the country. However, due to the growing economy and increased local assembly of motor vehicles in Kenya, the sale of new vehicles is expected to increase over the next ten years.
- Kenya's government has also encouraged the use of renewable energy sources to generate electricity, and this trend has made significant progress in recent years. Private investments in these projects are the primary factors driving up demand for lubricants in the power generation sector.
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Growth of end-user industries: The increasing demand from the automotive sector in Kenya, as well as the growth of end-user industries such as construction, manufacturing, plastics, machinery & equipment, and metallurgy, are expected to drive the industry's growth. The use of higher-quality synthetic and semi-synthetic lubricants is also expected to boost the lubricant demand in the country in the future. To increase market penetration, the Kenya lubricant industry is expected to make additional investments in R&D, marketing, and strategic partnerships and collaborations with other players, OEMs, and vehicle insurers.
Roadmap to 2040: Kenya Energy Sector Roadmap 2040 states that the country intends to increase installed capacity to 100 GW by 2040. To meet this target, the country will need to install an average of 5 GW per year from 2022 to 2040. Moreover, the Kenyan government is also interested in developing renewable energy sources to generate electricity. Private investments in these projects will be the key drivers of increased demand for lubricants in the power generation sector. Additionally, the Government of Kenya (GoK) envisions Kenya becoming an industrialized middle-income country with a high standard of living for all Kenyans by 2030. Such factors will almost certainly increase demand for lubricants in the country's power generation industry.
Consumer demand for superior quality: Increased automotive sales are expected to drive growth, with both passenger car and commercial vehicle sales increasing. The outlook for Industrial Lubricant growth in Kenya is positive, with inflows of steel projects, increases in manufacturing projects, and increased power generation capabilities expected to raise the share of industrial lubricants in total lubricant sales volume by 2027. Due to consumer demand for superior quality and rising lubricant quality standard awareness, semi-synthetic and synthetic grades are expected to gain prominence and favor in the market. Their combined share is anticipated to be increasing in near future.
Analysts at Ken Research in their latest publication “Kenya Lubricants Market Outlook to 2027F - Segmented by Origin (Mineral, Synthetic & Semi-Synthetic), By Lubricant Type (Automotive & Industrial), By Automotive Lubricants (By Product Type, By End-Users & by Distribution Channels) and By Industrial Lubricants (By Product Type, By End-Users & By Distribution Channels)” observed the potential of the Lubricants Market in Kenya. The robust automotive sector in the country, continuous investment in research & development, and marketing activities by the lubricant manufacturers with government incentives are expected to contribute to the market growth over the forecast period. The Kenya Lubricants Market is expected to grow at ~% CAGR over the forecasted period 2022-2027F.
Key Segments Covered: -
Kenya Lubricants Market Segmentations:
By Type of Lubricant:
- Industrial Lubricant
- Automotive Lubricant
By Grade of Lubricant:
- Mineral
- Semi-Syntenic
- Synthetic
Kenya Industrial Lubricants Market Segmentations:
By Type of Industrial Lubricant:
- Hydraulic Fluid
- Grease
- Gear Oil
- Metalworking Fluid
- Others (Turbine Oil, Compressor Oil, etc.)
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By End Use of Industrial Lubricant:
- Construction and Mining
- General Manufacturing
- Metal Production
- Power Generation
- Food Processing
- Others (Agriculture, Medical, etc.)
By Distribution Channel:
- Dealer Network
- Direct Sales Premium
- Unorganized Sector
Kenya Automotive Lubricants Market Segmentations:
By Type of Automotive Lubricants
- Heavy-Duty Diesel Engine Oil
- Passenger Vehicle Motor Oil
- Transmission Fluids
- Hydraulic Oil
- Greases
- Gear Oils
By End Use of Automotive Lubricant
- Commercial Vehicles
- Passenger Cars
- Motor Cycles
- Marine
- Others (Aviation, Railways, etc.)
By Distribution Channel
- Dealer Network
- OEM Workshops/Service stations/Local Workshops
- Supermarkets/ Hypermarkets
- Online
Key Target Audience
- Lubricants Manufacturers
- Lubricants Distributors Refining Companies
- Construction and Mining Industry
- General Manufacturing Industry
- Metal Production Industry Base-oil Companies
- Additive Companies
- Metal Production Industry
- Power Generation Industry
- Food Processing Industry
- Agriculture Industry
- Medical Industry
- Automotive OEMs
- Automotive Dealerships
- Government Agencies
- Consulting and Advisory Firms
Time Period Captured in the Report:
- Historical Year: 2017-2022
- Base Year: 2022
- Forecast Period: 2022– 2027F
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Companies Covered:
Lubricants Company
- Galana Oil Kenya Limited
- HassPetroleum
- Kenol Kobil
- National Oil Corporation of Kenya
- OLA Energy
- Oryx Energies
- Sepyana Oil EA
- Sinopec
- Total Kenya
- Vivo Energy (Shell)
Key Topics Covered in the Report
- Kenya Lubricants Market Overview
- Ecosystem of Lubricants Market
- Business Cycle and Genesis of Kenya Lubricants Market Overview
- Value Chain Analysis for Kenya Lubricants Market
- SWOT Analysis for Kenya Lubricants Market
- Porter’s Five Forces Analysis Kenya Lubricants Market
- Growth Drivers in Kenya Lubricants Market
- Bottlenecks and Challenges in Kenya Lubricants Market
- Trends and Developments in Kenya Lubricants Market
- Government Regulations
- End User Analysis of Kenya Lubricants Market
- Covid-19 Impact on Kenya Lubricants Market
- Competitive Landscape in Kenya Lubricants Market
- Detailed Analysis of Kenya Lubricants Market (Market Size and Segmentation, 2016-2022; Future Market Size and Segmentation, 2022-2026F)
- Detailed Analysis of Kenya Industrial Lubricants Market (Market Segmentation, 2016-2022; Future Market Segmentation, 2022-2026F)
- Detailed Analysis of Kenya Automotive Lubricants Market (Market Segmentation,2016- 2022; Future Market Segmentation, 2022-2026F)
- Market Opportunity and Analyst Recommendations
For more insights on market intelligence, refer to the link below: -
Future Outlook of Kenya Lubricants Market
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