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Transportation spending worth USD 500 billion has been planned for African regions. This is expected to make way for the automobile industry. Nigeria and Egypt are the most populous African nations.
These countries have witnessed rapid economic growth, promoting industrialization. Escalating regional‘ middle-class consumer spending’ capacities along with lubricants’ expansion are likely to impel market revenues in the near future.
South Africa was the leading nation with regards to automobile sales( over 650 thousand units) in the recent past. Automotive lubricant prices remained imperative for client- buying decisions. Other factors that contributed for the same were after sales services, branding, motor mechanic services, and spare part distribution.
Conversely, the South Africa engine oil industry observes the participation of multinational companies; such as Shell, Castrol, and Chevron. The current oil blending capacity of this country exceeds domestic demand.
Moreover, South Africa has major petrochemical companies and over ten blending plants that are profiting from wholly owned oil blending units. The African engine oil market is moderately consolidated. Some of its key players are Total S. A., Castrol, Royal Dutch Shell Plc., and Chevron Corporation. The others encompass ExxonMobil, Conoil Plc, Forte, and Oando Plc.
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