Future Outlook of Kenya Lubricants Market: Ken Research

Buy Now

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.

To Know More about this report, download a Free Sample Report

Growth of end-user industriesThe 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 2040Kenya 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 qualityIncreased 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.

This post was created with our nice and easy submission form. Create your post!

Download Procreate and Photoshop Brushes File Click here Download Now!
Back to top button
Translate »

Log In

Forgot password?

Don't have an account? Register

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.