Lubricants Market - India
Market Statistics
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 5.10% (2024-2032)
Market Size in 2023: USD 8.44 Billion
Market Size in 2032: USD 13.55 Billion
India lubricants market is growing rapidly, driven by industrialization, automotive expansion, and increasing consumer demand. According to the latest report by IMARC Group, the market reached USD 8.44 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 13.55 Billion by 2032, exhibiting a growth rate (CAGR) of 5.10% during 2024-2032.
India Lubricants Market Trends and Drivers:
- Automotive and Industrial Sector Expansion
- Growth in both sectors drives the demand for lubricants in India.
- Increase in Vehicle Ownership
- Rising vehicle ownership in urban and rural areas boosts the demand for automotive lubricants like engine oils, transmission fluids, and greases.
- Industrial Sector Influence
- Manufacturing, construction, and power generation industries require high-performance lubricants for machinery efficiency and longevity.
- Infrastructure Development and "Make in India" Initiatives
- Ongoing projects involving heavy machinery increase the need for industrial lubricants.
Sustainability and Eco-Friendly Trends
- Emphasis on Sustainability
- The market sees a growing focus on eco-friendly lubricant products.
- Stricter Environmental Regulations
- Increased demand for biodegradable lubricants with lower environmental impact.
- Advanced Formulations
- Manufacturers are developing lubricants with extended oil life and better fuel efficiency to meet environmental standards.
Rise of Synthetic and Semi-Synthetic Lubricants
- Increased Adoption
- Synthetic and semi-synthetic lubricants are gaining popularity for providing enhanced protection and longer service intervals.
- Consumer Awareness
- Growing preference for high-quality lubricants to maintain vehicle and machinery performance.
- Market Growth Projection
- These trends are expected to drive the India lubricants market over the forecasted period.
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India Lubricants Industry Segmentation:
The report has segmented the market into the following categories:
Breakup by Product Type:
- Engine Oil
- Transmission/Hydraulic Fluid
- Metalworking Fluid
- General Industrial Oil
- Gear Oil
- Grease
- Process Oil
- Others
Breakup by Base Oil:
- Mineral Oil
- Synthetic Oil
- Bio-Based Oil
Breakup by End Use Industry:
- Power Generation
- Automotive and Other Transportation
- Heavy Equipment
- Food and Beverage
- Metallurgy and Metalworking
- Others
Breakup by Region:
- North India
- West and Central India
- South India
- East and Northeast India
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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Key Highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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