Bangladesh lubricants market has few segments with various lubricant oils. This industry can be described as a market which contains few segments like passenger car motor oil, four-stroke motorcycle oil, heavy-duty diesel engine oil, hydraulic oil, and gear oil, etc. Another observation also identifies more lubricants oil segments like railway oil, marine oil, and aviation oil. These segments are insignificant compared with other lubricant oil segments.
Are Users Concerned?
Are users concerned with the quality lubricant oil? A market analysis would say yes, it should be! However, this belief varies from one segment to another segment. Most passenger car and motorcycle owner are concerned with the quality engine oil. So they don’t want to compromise with the lubricants oil. The car owners and motorcycle riders try to involved in oil change period. Even, they recommend their regular mechanic to use the quality lubricant oils.
Heavy-duty Engine Oil Segment
The heavy-duty engine oil and CNG oil segments are quite similar, heavy-duty engine oil meets both requirements of these two segments. As there is a lack of importance from the vehicle owner end. This segment closely regulated by the transport agencies, drivers, engine mechanics, garage mechanics and even the retailers. Competitive pricing is a key decision-making standard for those decision makers, though brand preferences is also a key.
The market for CNG oil is an exponential one, though the users are mostly using the heavy-duty engine oils for the vehicles. Few quality gas engine oils are available but not popular. The industrial oil segment is a sensitive one, which is closely supervised by the engineer. The growth of power sectors and other industries has perked this industrial oil segment up.
End-users are quite knowledgeable about the lubricants oil and its features. For end-users, the main source of information arises from peer suggestions. Retailer suggestions also play a part in affecting the purchase. Retailers also recommend their various lubricants oil brand to purchase. Due to this, customers often purchase brands as referred by the retailers.
The vehicle owners don’t want to risk anything happening to their vehicles for not using high-quality lubricant. The sole distributors always run promotions for the regulars, though it plays an insignificant part in the purchase decision. Availability of brand doesn’t affect people’s purchase decision. Rather, it’s dictated by the brand’s popularity.
More brands are entering
Newly brands are taking their entrance in this growing lubricant industry. Bangladesh Lubricants Oil Market is now more competitive. The renowned brands like Mobil, BP, Total, Shell, Castrol are trying to sustain their market share with strong brand preferences. Moreover, the customers have now a better choice of quality lubricant oils.