Press Release

India Automotive Lubricants Market to Surpass INR 527 Billion by FY2027

According to TechSci Research report, India Automotive Lubricants Market By Vehicle Type (Passenger Car, Two-wheeler, M&HCV, LCV, Tractors), By Lubricant Type (Engine Oil, Gear Oil, Grease, Transmission Fluids and Others), By Base Oil (Synthetic, Semi-Synthetic and Mineral), By Demand Category [By Demand Category [OEM, OES and IAM (Independent Aftermarket)], Competition, Forecast & Opportunities, FY2027”, India automotive lubricants market was valued INR 404.45 Billion in FY2020 and is projected to reach INR 527.78 Billion by FY2027. Increasing preference for vehicles for personal mobility and easy finance options are driving sales of automobiles in India, which, in turn, is increasing demand for automotive lubricants. Additionally, increasing awareness among consumers regarding use of lubricant, entry of new, 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.

The transition of BS IV to BS VI has put focus on the lubricant to be compatible with new vehicles coming in the market. Also, companies are focusing on developing new products specially formulated with lower sulphated ash and phosphorous while maintaining the same durability. Similarly, on Hybrid Engines and Electric vehicle front, companies are focused on developing new technologies for EV engines while continuously developing the higher efficiency for co-existing internal combustion engines. Continuous technological advancement to comply with enhancing automotive technology will grow the market for Automotive lubricant.

Browse 7 market data Tables and 36 Figures spread through 99 Pages and an in-depth TOC on " India Automotive Lubricants Market "

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On the basis of base oil, India automotive lubricants market is categorized into mineral, synthetic and semi-synthetic. Mineral oil segment led the market in FY2020 with share of 85.92% due to their low costs and easier availability. Companies involved in the business of mineral oil based specialty lubricant are spread far and wide, and thus the product is easily accessible by end users. Higher growth in synthetic based lubricant is due to their superior performance in high temperatures, oxidation stability and durability. High awareness among engineers about high performance lubricant and superior characteristics of synthetic oil based lubricant coupled with stringent government laws are expected to fuel the growth of semi synthetic and synthetic oil based lubricant market during the forecast period.

Some of the major players operating in India automotive lubricants market include Indian Oil Corporation, Castrol India Limited, Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited, Tidewater Oil Corporation India Limited, Valvoline Cummins Private Limited, Gulf Oil Lubricants India Limited, Shell India, ExxonMobil Lubricants Private Limited and Total Oil India Private Limited. Companies operating in the market are using inorganic strategies such as mergers and acquisitions to increase their share in the market. For Instance, BPCL tied up with Honda Motorcycle Scooter India to sell its engine oil. The synergy created due to mergers and acquisitions by lubricant companies generally succeed them in generating higher cost efficiency through the implementation of economies of scale in highly competitive market and to achieve a strong foothold in domestic markets.

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“Northern region of India captured the largest volume share of around 32.10% in FY2020. The region registered strong demand across both OEM and replacement tire segments. Presence of major automotive OEMs like Honda Motors, Maruti Suzuki, JCB, etc in the north region has been driving demand for OEM tires While, continuously expanding vehicle fleet across Uttar Pradesh, Delhi, Punjab, etc has been supporting the automotive lubricant consumption in the country’s north region.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

 “India Automotive Lubricants Market By Vehicle Type (Passenger Car, Two-wheeler, M&HCV, LCV, Tractors), By Lubricant Type (Engine Oil, Gear Oil, Grease, Transmission Fluids and Others), By Base Oil (Synthetic, Semi-Synthetic and Mineral), By Demand Category [By Demand Category [OEM, OES and IAM (Independent Aftermarket)], Competition, Forecast & Opportunities, FY2027” 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.

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