India Automotive Lubricant Market is Valued at USD 5.92 Billion in the Year 2022 and is Expected to Rise with a CAGR of 8.08% in the Forecast Period.
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India Automotive Lubricant Market is valued at USD 5.92 billion in the year 2022 and is expected to rise with a CAGR of 8.08% in the forecast period. The increasing number of vehicles on the road is increasing the demand for high-quality lubricants. Lubricants improve vehicle fuel efficiency and reduce the temperature by absorbing the heat generated. These factors have contributed to an increase in the demand for automotive lubricants. Other factors, such as rising consumer spending power and product innovations to improve oil quality, are expected to drive the growth of India Automotive lubricant market.
Recent Developments
Valvoline Inc. introduced Valvoline High Mileage 150k motor oil with MaxLife Plus Technology Synthetic Blend in April 2021. The engine oil is specifically designed for engines with over 150,000 miles traveled distance. The product's innovative formula reduces oil consumption in older, high-mileage engines, while it's Moly Additive Protection improves engine performance and power.
Shell has updated its Shell Naturelle biodegradable lubricant portfolio to help reduce environmental impact while maintaining equipment performance.
Surging Focus on Protecting Automotive Components and Systems
The market acceptance of automotive lubricants is boosted by factors like their durability and vehicle protection. By drastically reducing friction between the pieces, they provide defense against damage to a vehicle's systems and parts. Additionally, the need for low-viscosity and better-performing lubricating oils is continuously growing due to the industry's use of smaller and more complicated automotive systems. Additionally, rising standards for high performance in automobiles are encouraging the use of new products. Automotive lubricants are essential for ensuring that industrial vehicles operate effectively in a variety of harsh weather situations. For instance, tractor engine oils not only maintain the tractor's high performance in the harsh field and climatic circumstances but also help to improve the hardware's compatibility with toughness.
New Government Standardization is Increasing Lubricant Demand
With the new laws, there will be numerous technological advancements made in automobiles, which will have a big impact on both their price and how they operate. OEMs and lawmakers are focusing on universal lubricant grade standardization, which is expected to spur the development of high-quality lubricants. The lubricant must meet the performance levels required for specific applications as well as those established by the relevant authorities. The lubricant improves fuel efficiency and lowers greenhouse gas emissions from vehicles. For instance, the installation of DPF (diesel particulate filter), SCR (selective catalytic reduction) modules, etc., would be among the key adjustments made to cars in response to BS-VI standards. Furthermore, Low SAPS (sulfated ash, phosphorous, and Sulphur) lubricants are needed to be developed to accommodate these technical advancements to work with after-treatment equipment. As a result, it is mandatory to conduct a fitness test to reduce vehicle pollution, which is driving the India Automotive Lubricant Market.
Rising Vehicle Fleet Size
As the number of vehicles on the road rises and public awareness of the benefits of engine oils and other lubricants grows, it leads to an increasing need for automotive oil, lubricants, and grease. The increased purchasing power and disposable income of customers are predicted to drive the market through automobile sales. Furthermore, oil and lubricant producers, as well as Original Equipment Manufacturers (OEMs), have increased lubricant demand in the India Automotive Market as the number of vehicles on the road requires regular servicing and maintenance. Additionally, a partnership between OEMs and lubricant producers is on the rise to meet up consumer demand.
Market Segmentation
The India Automotive Lubricant Market is segmented by vehicle type, lubricants type, by base oil, demand category, region, and competitive landscape. Based on type, the market is segmented into Engine Oil, Gear oil, Grease, Transmission Fluid, and Others. Based on Vehicle type, the market is segmented into two-wheelers, Passenger cars, Light Commercial vehicles, Medium & Heavy Commercial vehicles, and OTR. Based on Base Oil, the market is segmented into Synthetic, Semi-Synthetic, and Minerals. Based on the Demand category, the market is divided into OEM and Aftermarket.
Company Profiles
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 are the key players developing advanced technologies to stay competitive in the market and enhance their product portfolio in the regions to increase their customer outreach.
- Base Year 2022
- Historical Years 2018 - 2021
- Estimated Year 2023
- Forecast Period 2024 - 2028
Quantitative Units Revenue in USD Billion, Volume in Thousand Metric Tons, and CAGR for 2018-2022 and 2023-2028
Report Coverage Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends
Segments Covered
- Vehicle type
- Lubricant Type
- Base Oil
- Demand Category
Regional Scope North, South, West, and East
Key Companies Profiled 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., and Total Oil India Private Limited.
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Report Scope:
In this report, India Automotive Lubricant Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
India Automotive Lubricant Market, By Type:
- Engine Oil
- Gear oil
- Grease
- Transmission Fluids
- Others
India Automotive Lubricant Market, By Vehicle Type:
- Two-Wheeler
- Passenger Car
- Medium & Heavy Commercial Vehicle
- OTR
- Three Wheelers
- Light Commercial Vehicle
India Automotive Lubricant Market, By Base Oil:
- Synthetic
- Semi-Synthetic
- Minerals
India Automotive Lubricant Market, By Demand Category:
- OEM
- Aftermarket
India Automotive Lubricant Market, By Region:
- North
- West
- East
- South
Competitive landscape
Company Profiles: Detailed analysis of the major companies present in India Automotive Lubricant Market.
Available Customizations:
With the given market data, the publisher offers customizations according to a company’s specific needs.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 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 Private Limited Company
- Savita Oil Technologies Ltd
- Total Oil India Private Limited
