Press Release

India Automotive Lubricants Market to Surpass $10 Billion by 2027

Growing sales of automobiles and expanding production base along with spreading awareness among consumers towards the effective utilization of lubricants to drive demand for automotive lubricants in India through 2027

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, 2027”, India automotive lubricants market is projected to cross $ 10 billion by 2027. Automotive Mission Plan 2016-2026 and investments by the government in infrastructure development and initiatives to promote production in India under ‘Make in India’ initiative is positively influencing India automotive lubricants market. Moreover, low crude oil prices along with awareness among customers about the use of quality lubricants is further anticipated to fuel growth in the market. Increasing Foreign Direct Investments (FDI) in the industry and relaxation of custom duties applicable on import and export of automotive lubricants is further anticipated to propel their demand across India.

Browse 24 market data Tables and 70 Figures spread through 148 Pages and an in-depth TOC on " India Automotive Lubricants Market "

 On the basis of base oil, India automotive lubricants market is categorized into mineral, synthetic and semi-synthetic. Of all, mineral is the dominating category, however, synthetic lubricant segment is likely to grow at the fastest pace during forecast period owing to increasing focus on the utilization of highly efficient synthetic lubricants. Moreover, premium automobile owners and manufacturers are increasingly adopting synthetic lubricants. Among regions, north is the major demand generator of lubricants due to rising sales of automobiles in the region and rising number of people migrating from tier 2 and tier 3 cities to tier 1 cities in the region.

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“Owing to ban on the sale of BS-III engines, lubricant manufacturers are increasingly focusing on dealing with changing engine technology. Moreover, implication of Goods and Services Tax (GST) has resulted in reduced prices of the commodity from mid-2017, which is expected to positively impact the companies operating in automotive lubricants market. Additionally, penetration of electric motor vehicles is further anticipated to steer growth in India automotive lubricants market in the coming years.” 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, 2027” has 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 decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India automotive lubricants market.

About TechSci Research

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