ASEAN, GCC, India, Africa Lubricants - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2027)
Regional Analysis – ASEAN, GCC, India, Africa Lubricants Market Among all regions, India held the highest potential with respect to market volume and market value in 2017 and is projected to continue its dominance over the forecast period. Rapid industrialization, growing population, flexible government regulations, and increasing investments can elevate the market to higher dimensions. However, the Africa region is the fastest growing region in the global lubricants market. Presence of multinational players such as Shell, BP, Chevron, Engen Petroleum, and others and increasing demand for agriculture equipment drives the market growth aggressively. For instance, in the first half of 2018, Shell became Aggreko’s largest lubricants supplier in Asia-Pacific. Market Highlights Market Research Future (MRFR) experts estimate that the ASEAN, GCC, Africa & India lubricants market capitalization can reach USD 29,532.9 million by 2023, at a CAGR of 4.30% during the forecast per