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-
Automotive Lubricant Type:-
Type of Oil-
Passenger Car Motor Oils
Heavy Duty Diesel Engine Oils
Gear Oils & Transmission Fluids
OEM Workshops / Service Stations / Local Workshops / Retail Stores
Industrial Lubricant Type:-
Type of Oil-
Industrial Gear Oils
Power generation, Mining and Quarry
Others (General Manufacturing, Textile and Chemicals, Engineering Equipment, Automotive Sector, Iron and Non-Iron Production, Cement and Rest)
Key Target Audience:-
Metal Working Companies
Auto And Auto Component Manufacturers
Paper and Pulp Manufacturers
Power Generation Companies
Food & Beverage Companies
Time Period Captured in the Report:-
Historical Period – 2012-2018
Forecast Period – 2018-2023
GPP (Group of Petroleum Professionals)
Libya Oil (Mobil)
APCI (Professional Association of Oil companies in Ivory Coast
Independents and Self Importers
Key Topics Covered in the Report:-
Stakeholders in Ivory Coast Lubricants Market
Ivory Coast Lubricants Market Overview and Genesis
Value Chain Analysis For Ivory Coast Lubricants Market
Ivory Coast Lubricants Market Size, 2012-2018
Ivory Coast Lubricants Market Segmentation, 2018
Ivory Coast Automotive Lubricants Market Segmentation
Ivory Coast Industrial Lubricants Market Segmentation
Regulatory Landscape in the Ivory Coast Lubricants Market
SWOT Analysis for Ivory Coast Lubricants Market
Trends and Developments in the Ivory Coast Lubricants Market
Issues and Challenges in the Ivory Coast Lubricants Market
Decision Making Criteria For End Users in Ivory Coast Lubricants Market
Competitive Landscape in the Ivory Coast Lubricants Market
Best Selling Products of Major Players (Total, Vivo Energy, Corlay, Petro Ivorie and Oryx Energies)
Ivory Coast Lubricants Market Future Outlook and Projections, 2018P-2023E
For More Information on the research report, refer to below link:-
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Head Marketing, Ken Research Private Limited