Episode 24: Emerging trends in motorcycle engine oils
Anand Bhargav is global segment manager for main-tier PCMO [Passenger Car Motor Oil] and Small Engines segments at Chevron Oronite Pte Ltd based in Singapore. Bhargav, who has more than 25 years of lubricant additive industry experience, joined Vicky Villena-Denton, CEO, and editor-in-chief of F&L Asia Ltd, to share his perspective on emerging trends in motorcycle engine oils in Episode 24 of F+L Webcast.
Bhargav highlighted a vibrant and growing motorcycle market comprising around 700 million units as of 2019. Asia-Pacific is the largest market accounting for around 80% of the global two-wheeler fleet. Japanese OEMs, led by Honda and Yamaha, are the manufacturing frontrunners and contribute more than 50% of global market share. Indian OEMs deliver an additional 25%. From 2012-2021, the global two-wheeler market grew at a steady 1.5% compound annual growth rate (CAGR). This overall growth figure somewhat masks the declines that were occurring above the equator as interest in two-wheelers appeared to be waning in North America, Europe, Japan and South Korea.
However, since the emergence of Covid-19, the industry has had a shot in the arm, so to speak. An uptick in sales has emerged around the globe as more consumers turned to two-wheelers for individual mobility as public transport in many countries were restricted to prevent the widespread transmission of the SARS-Covid 2 virus. Some analysts believe the motorcycle boom will continue over the coming years.