India Automotive Lubricant Market to grow at 8.08% CAGR by 2028

Rising focus on high quality lubricant, increasing vehicle fleet and government standardization are increasing the demand for India Automotive Lubricant market.

According to the TechSci Research report, "India Automotive Lubricant Market- By Region, Competition, Forecast and Opportunity, 2028," The India Automotive Lubricant market is anticipated to reach USD 9.35 billion in 2028 and the India Automotive Lubricant Market value is anticipated to grow with the registering 8.08% CAGR in the forecasted years.

 A lubricant is a substance that helps to reduce friction between two surfaces, lowering the heat produced as the surfaces move. It may also transmit forces, transport foreign particles, or heat or cool the surfaces. Lubricity refers to the property of reducing friction. Hence, Lubricants reduce friction, prevent wear, prevent corrosion, control temperature, control contamination, transmit power (hydraulics), and provide a fluid seal. Engine oils, gear oils, transmission oils, and grease are the most common lubricants used in these vehicles.

Rising vehicle fleet size advancements in automotive technology and development in the automotive lubricant are driving revenue growth in the India automotive lubricants market. Furthermore, rising demand for high-quality lubricants is expected to drive market expansion. Lubricant is an important part of any vehicle. Lubricant demand is being driven by rising demand for light passenger vehicles and heavy-duty vehicles, as well as an increase in the average lifespan of vehicles in operation. Automotive lubricants increase a vehicle's overall durability and performance.

Also, manufacturers are investing in research and development for enhancing the properties of the auto components. Manufacturers are making specific innovations for improving the car efficiency. They are also adopting nano particles to reduce the dependency  on  diesel and gasoline. Nano- lubricants not only reduce the frictional resistance but also enhance the load capacity of the engine.

Browse more than 60 market data Figures spread through 132 Pages and an in-depth TOC on "India Automotive Lubricant Market"

The India Automotive Lubricant Market is segmented by type, by vehicle type, by base oil, by demand category, by rating, by sales channel, by region and competitive landscape. Based on Vehicle type, the market is segmented into Two-Wheeler, Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle and OTR. Two wheelers have the market share of around 44.2% due to benefits such as low cost, better mileage, and more reliability. Based on the type, the market is segmented into Engine Oil, Gear oil, Grease Transmission Fluid and Others. Based on Lubricant type, the India Automotive lubricant market is dominated by engine oil by around 41.84%. The main job of engine oil is to lessen friction and wear on moving parts while also clearing the engine of varnish and sludge. By removing heat from the engine's moving parts, it aids in cooling the engine. The market is divided into three categories based on base oil, including synthetic, semi-synthetic, and minerals. Due to its temperature-resistant properties and stability, minerals segment accounted for the largest market share in the India Automotive Lubricants Market due to its adoption in engine oil for lubrication and engine protection. Based on the Demand category, the market is divided into OEM and Aftermarket. The aftermarket segment is expected to command the largest share of the demand category. The growing demand for engine oils, which must be changed at regular intervals, is driving the demand for automotive lubricants for the aftermarket.

Some of the major players operating in the India Automotive Lubricant Market include:

       ·         Indian Oil Corporation Limited

       ·         Castrol India Limited

       ·         Bharat Petroleum Corporation Limited

       ·         Hindustan Petroleum Corporation Limited

       ·         Tidewater Oil Corporation India Limited

       ·         Gulf Oil Lubricants India Limited

       ·         Valvoline Cummins Private Limited

       ·         Shell India

       ·         Savita Oil Technologies Ltd

       ·         Total Oil India Private Limited

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“There are numerous potentials for the development and marketing of new lubricants in the Indian Automotive lubricant market. With increased number on vehicle on road, the need for maintenance and services is increased which raises the need for more premium and advanced lubricants. The need for lubricants is also expanding along with the number of vehicles. Additionally, the government's standardization of the vehicle leads lubricant makers to engage in research and development to produce high-quality lubricant which meet the governments standards.-."said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“India Automotive Lubricant Market By Vehicle Type (Two Wheelers, Three wheelers, Passenger Cars, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, OTR), By Lubricant Type (Engine Oil, Gear oil, Grease, Transmission Fluid, Others) By Base Oil (Synthetic, Semi-Synthetic, Minerals), By Demand Category (OEM, Aftermarket), By Region, Competition, Forecast & Opportunities, 2028” has evaluated the future growth potential of India Automotive Lubricant Market and provides statistics & 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 the India Automotive Lubricant Market.

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