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Increasing New Vehicle Sales and a Growing Number of Vehicles in Operation Likely to Continuously Drive Overall Market Growth
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The Malaysian engine oil aftermarket is likely to grow from 50.9 million liters in 2015 to 89.4 million liters by 2021 for both passenger vehicle and light commercial truck segments, recording a compound annual growth rate (CAGR) of 9.8%. The number of vehicles in operation (ViO) will increase from a total of 5.6 million units in 2015 to 6.9 million units by 2021. Growth in the Malaysian engine oil aftermarket is influenced by the rapid growth of new vehicle sales and an increasing number of ViO. Synthetic base engine oil, including synthetic and semisynthetic engine oil, is dominating the Malaysian market with a share of 89.1% in 2015. This market share is expected to increase to 90.9% in 2021. The synthetic base oil segment is expected to record positive growth due to its high cost-effectiveness and the trend will continue up to 2021. Petronas, the local Malaysian engine oil producer, dominated the market in 2015 with a share of 23%, after Shell with a 31% share. The market is highly competitive, with the presence of both international and local brands. Research Scope: The aim of this study is to analyze dynamics in the Malaysian engine oil aftermarket, in terms of both passenger vehicles and light commercial vehicles. It provides a sales outlook in terms of the consumption of both new vehicle sales and ViO. This study presents the current scenario in the engine oil aftermarket and offers a forecast of consumption sales up to 2021. Research Objectives: • To provide a strategic overview of the Malaysian engine oil aftermarket, highlighting the main driving factors• To estimate the size and sales potential of the Malaysian engine oil aftermarket during 2015–2021 • To provide an overview of engine oil consumption volumes, by leading vehicle models, leading models of vehicles in operation, and key engine oil brands Key Questions this Study will Answer: • How is the Malaysian engine oil aftermarket expected to change by 2021? • What are the top engine oil companies in the Malaysian market? • What are the key engine oil business growth opportunities in the market? • What is the future consumption volume in the Malaysian engine oil aftermarket? • What is the engine oil market demand, in terms of both new vehicle sales and ViO over the coming years? The research closes with conclusions and a future outlook. Malaysia being a developing country, its automotive industry and engine oil aftermarket are growing rapidly. Leading domestic and international engine oil brands are participating in the Malaysian market. Growth of new vehicle sales and a growing number of vehicles in operation are likely to drive the growth of the engine oil aftermarket in Malaysia up to 2021.
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