Russian auto study could provide key indicators for regional lubes growth.
The study, by analystis RPI, provides insight into changes in Russia's lubes consumption as a result of increasing demand from both auto makers and consumers.
Russia's fleet reflects modern trends Image: Sludgegulper |
With strong vehicle sales, Russian vehicle lube is expected to grow around three percent annually, reaching 765,000 metric tons by 2017.
The passenger car lubes segment is expected to rise by some four percent year-on-year in the same period, reaching 351,000 tons, according to the research. The figures include factory fill volumes by OEMs.
As with most developing auto markets, the key influences on passenger car motor oil demand include changes in car design, sump size, annual mileage and extended service intervals.
Heavy-duty lube demand is set to rise to 280,000 tons per year by 2017, while light commercial vehicle lubes could grow to 105,000 tons and 32,500 tons for buses.
As of the beginning of 2012, the total Russian vehicle parc numbered around 43m units, with passenger cars taking an 82% share of the total. Light commercials took eight percent each, with buses making up the remaining fleet.
The latest report could provide some key indicators for producers and distributors alike as Russia becomes another key target for the global lubes industry.