Ivory Coast Lubricants Market is Expected to Reach Around CFA 170 Billion in Terms of Revenues by 2023E: Ken Research
GURUGRAM, India, March 12, 2019 /PRNewswire/ - Key Trends
- Increasing demand for semi-synthetic and synthetic lubricants is expected to drive the growth in lubricants market of Ivory Coast, especially for industrial lubricants.
- Rising contribution of industrial sector to GDP of the country is expected to be the one of the key growth drivers of the market.
- Consistent demand from automotive sector in the country is expected to augment growth in the lubricants market of the country.
MoU between Airbus and Government of the Ivory Coast: The MoU was signed to establish a framework of collaboration to support the development of the country's aerospace industry which has been further identified as a strategic initiative for its economic development. This is expected to contribute to growth in the lubricants market through increased demand from aviation sector and related transportation activities.
Increasing Demand for Industrial Lubricants from End Users: The contribution of the power generation sector in the GDP of Ivory Coast has been constantly rising from the past few years. Moreover, the increasing government expenditure on the development of infrastructure in the country is expected to increase the share of construction sector in the GDP of the country. The heavy machinery so used for these sectors will drive the demand for industrial lubricants in Ivory Coast.
Growing New Passenger Vehicle Registrations in the Ivory Coast: Demand from this sector is expected to remain consistently high, continuing the present trend in the sector. New passenger vehicle registrations are expected to increase from 10,488 vehicles in 2018 to 13,667 vehicles by the year ending 2022, thereby increasing the demand for automotive lubricants. This will augment the growth in the overall lubricants market in Ivory Coast.
Analysts at Ken Research in their latest publication "Ivory Coast Lubricants Market Outlook to 2023 - By Origin (Mineral, Semi-Synthetic and Synthetic), By Automotive Lubricants (Heavy Duty Diesel Engine Oils, Passenger Car Motor Oils, Hydraulic Oils, Gear Oils, Transmission Fluids and Greases) and Industrial Lubricants (Hydraulic Oils, Industrial Gear Oils, Turbine Oil, Compressor Oils, Greases, Transformer Oils And Industrial Greases), By Automotive and Industrial End Users and By Channels of Distribution" believe that developing industrial lubricants for construction and mining based applications, improving sales and promotion/advertising of lubricants and upgrading production equipment with increased focus on energy efficiency and input-output quality will aid the lubricants market in the Ivory Coast. The market is expected to register a positive CAGR of 10.5% in terms of revenue and a CAGR of 6.7% in terms of sales volume / domestic consumption of lubricants during the forecast period of 2018–2023.
Key Segments Covered
- Basis of Origin
- Mineral Oil
- Semi-Synthetic Oil
- Synthetic Oil
- Type
- Automotive Lubricants
- Industrial Lubricants
- Automotive Lubricant Type
- Type of Oil
- Passenger Car Motor Oils
- Heavy Duty Diesel Engine Oils
- Hydraulic Oils
- Gear Oils & Transmission Fluids
- Greases
- End User
- Passenger vehicles
- Commercial vehicles
- Marine
- Aviation
- Distribution Channel
- OEM Workshops / Service Stations / Local Workshops / Retail Stores
- Dealer Network
- Industrial Lubricant Type
- Type of Oil
- Hydraulic Oils
- Industrial Gear Oils
- Compressor oils
- Transformer oils
- Turbine Oil
- Industrial Greases
- End Users
- Power generation, Mining and Quarry
- Construction
- Manufacturing
- Others (General Manufacturing, Textile and Chemicals, Engineering Equipment, Automotive Sector, Iron and Non-Iron Production, Cement and Rest)
- Distribution Channel
- Direct Sales
- Dealer Network
Key Target Audience
- Automobile Manufacturers
- Plastic Manufacturers
- Metal Working Companies
- Auto And Auto Component Manufacturers
- Construction Companies
- Textile Companies
- Cement Companies
- Mining Companies
- Paper and Pulp Manufacturers
- Power Generation Companies
- Steel Manufacturers
- Food & Beverage Companies
Time Period Captured in the Report:
- Historical Period – 2012-2018
- Forecast Period – 2018-2023
Companies Covered:
- GPP (Group of Petroleum Professionals)
- Total
- Vivo
- Corlay
- Libya Oil (Mobil)
- Petro Ivorie
- Oryx Energies
- APCI (Professional Association of Oil companies in Ivory Coast
- Independents and Self Importers
For more information on the research report, refer to below link:
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Contact Us:
Ankur Gupta
Head Marketing, Ken Research Private Limited
[email protected]
+91-9015378249
SOURCE Ken Research
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