Press Release

Growing Manufacturing Base to Drive India Industrial Lubricant Market through 2023

Growing construction & mining sector, favorable government policies, and expanding manufacturing base of industries such as automotive & auto component, iron & steel and power to fuel India industrial lubricant market through 2023

According to TechSci Research report, India Industrial Lubricant Market By Lubricant Type, By Application, By End Use, By Sales Channel, Competition, Forecast & Opportunities, 2013 – 2023, industrial lubricant market in India is projected to reach $ 1.6 billion by 2023. The market is highly competitive with around 15-25 major players such as Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited and Shell India Markets Private Limited. Over the past few years, industrial lubricant market has witnessed constant growth, owing to increasing demand from sectors such as automotive & auto components, construction & mining, cement and polymer processing. Growing number of infrastructure projects backed by favorable government policies and rising foreign direct investments is catalyzing the demand for heavy machinery requiring industrial lubricants for proper functioning.

Browse 6 market data Tables and 68 Figures spread through 126 Pages and an in-depth TOC on   "India Industrial Lubricant Market"


Lubricant manufacturers are expanding their production capacity to meet the growing demand for industrial lubricants in India. For instance, in 2018, Petronas Lubricant International set up a blending plant in Patalganga, Maharashtra, with a capacity of 110 million liter per annum, while Gulf Oil Lubricants established a new production plant in Ennore, Chennai, with a capacity of 50,000 kilo liter per annum. By type, hydraulic oil accounts for the largest market share, owing to growing automation and hydraulic power generation activities such as use of robotic technologies in automotive paint shops and installation of pneumatic and hydraulic systems. Moreover, government initiatives such as construction of more than 100 smart cities across the country are expected to boost the demand for heavy machinery and equipment with bigger sized hydraulic boxes, thereby aiding the hydraulic oil segment growth during forecast period. Construction & mining sector is the largest end use segment in India industrial lubricant market, owing to increasing number of infrastructure development and upgrade projects across the country.  

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West India is the largest demand generating region for industrial lubricants in India, as several automobile players like Maruti Suzuki, Volkswagen, Mahindra & Mahindra and Bajaj Auto have set up their manufacturing facilities in the region. Moreover, the region attracts global players to set up their production units, backed by its strategic location and proximity to seaports like Porbandar, Bedi and Kandla. During FY18, Gujarat standalone received $ 2.09 billion in FDI. Some major ongoing projects such as Delhi- Mumbai industrial corridor and Mumbai - Bangalore industrial corridor would attract more players to set up their production facilities in this region. which is likely to boost the demand for industrial lubricants in West India in coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

India Industrial Lubricant Market By Lubricant Type, By Application, By End Use, By Sales Channel, Competition, Forecast & Opportunities, 2013 – 2023 has evaluated the future growth potential of industrial lubricant market across the country and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in India industrial lubricant market.


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