Press Release

Automotive Lubricant Sales in India to Spike at 9% CAGR

Growing sales and expanding automobile fleet to drive India automotive lubricants market through 2022

According to TechSci Research report, India Automotive Lubricants Market By Vehicle Type, By Lubricant Type, By Base Oil, By Demand Category, By Sales Channel, Competition Forecast & Opportunities, 2012 – 2022”, automotive lubricants market in India is projected to grow at a CAGR of 9% on account of is forecast to reach $ 9.6 billion by 2022, on account of rising vehicle sales and expanding automobile fleet in the country. Additionally, increasing awareness among consumers regarding use of lubricant, entry of newl, efficient and innovative lubricant products offering increased efficiency, coupled with increasing government focus on ‘Automotive Mission Plan 2016-2026’ and ‘Make in India’ initiatives is expected to further boost demand for lubricants during the forecast period.

Browse 22 market data Tables and 114 Figures spread through 145 Pages and an in-depth TOC on "India Automotive Lubricants Market”

 Relaxation in customs duty applicable on the import and export of automotive lubricants is anticipated to further fuel India automotive lubricants market in the coming years. On the basis of base oil, the market has been broadly segmented into synthetic, semi synthetic, and mineral oils. Among these categories, synthetic oil is expected to register the fastest growth during the forecast period, owing to its versatile properties such as high performance, better viscosity at extremely high and cold temperature, and long drainage interval.

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“Backed by growing focus of automotive lubricant manufacturers to capitalize on the opportunities in the rural market, demand for automotive lubricants in the country is expected to grow at a robust pace over the course of next five years. In addition to these, increasing use of synthetic lubricants by premium automobile owners and manufacturers points towards a brighter future for automotive lubricants manufacturers and suppliers in India through 2022.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.  

India Automotive Lubricants Market By Vehicle Type, By Lubricant Type, By Base Oil, By Demand Category, By Sales Channel, Competition Forecast & Opportunities, 2012 – 2022has evaluated the future growth potential of India automotive lubricants market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India automotive lubricants market. 

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