India Automotive Engine Oils Market - Size, Share, Forecast & Covid-19 Impact (2022 - 2027)

The India Automotive Engine Oils Market is segmented by Product Grade and by Vehicle Type ( Commercial Vehicles, Motorcycles, Passenger Vehicles )

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Market Snapshot

https://s3.mordorlabs.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period: 2015 - 2026
https://s3.mordorlabs.com/base%20year/1629296433432_test~base_year_base_year.svg Base Year: 2021
https://s3.mordorlabs.com/passenger_vehicles/1629285650768_test~passenger_vehicles_passenger_vehicles.svg Largest Share by Vehicle Type: Motorcycles
https://s3.mordorlabs.com/passenger_vehicles/1629285650768_test~passenger_vehicles_passenger_vehicles.svg Fastest Growing by Vehicle Type: Motorcycles
https://s3.mordorlabs.com/cagr/1629296433433_test~cagr_cagr.svg CAGR: 7.32 %

Key Players

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Market Overview

The India Automotive Engine Oils Market stood at 1.04 billion liters in 2020 and is projected to register a CAGR of 7.32% to reach 1.58 billion liters in 2026.

  • Largest Segment by Vehicle Type - Motorcycles : Increasing servicing frequencies and high motorcycle population and usage rates in India are the primary reasons for the motorcycle segment's high engine oil consumption.
  • Fastest Segment by Vehicle Type - Motorcycles : The anticipated robust rebound in motorcycle production and the sales in India in 2021 are expected to boost motorcycle engine oil consumption over the forecast period.

Scope of the Report

By Vehicle Type
Commercial Vehicles
Motorcycles
Passenger Vehicles

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Key Market Trends

Largest Segment By Vehicle Type : Motorcycles

  • In India, engine oils accounted for about 81% of automotive lubricant consumption in 2020. During 2015-2019, engine oil consumption in the country recorded a CAGR of 7.89%. The rise in vehicle sales and higher dominance of mineral-based engine oils have been the major factors driving automotive engine oil consumption in the country.
  • In 2020, the COVID-19 outbreak resulted in a massive decline in the usage rate of the existing vehicle fleets in the country, which led to a 16.2% dip in engine oil consumption. The motorcycles segment recorded the largest decline of about 19% in engine oil consumption during the year.
  • During 2021-2026, the motorcycles segment is expected to register the highest CAGR of about 6.69% for engine oil consumption, followed by the passenger vehicle (6.5%) and commercial vehicle (5.88%) segments, respectively.

Competitive Landscape

The India Automotive Engine Oils Market is moderately consolidated, with the top five companies occupying 55.88%. The major players in this market are Bharat Petroleum Corporation Limited, BP PLC (Castrol), Gulf Oil International, Hindustan Petroleum Corporation Limited and Indian Oil Corporation Limited (sorted alphabetically).

Recent Developments

    Table of Contents

    1. 1. Executive Summary & Key Findings

    2. 2. Introduction

      1. 2.1 Study Assumptions & Market Definition

      2. 2.2 Scope of the Study​

      3. 2.3 Research Methodology

    3. 3. Key Industry Trends

      1. 3.1 Automotive Industry Trends

      2. 3.2 Regulatory Framework

      3. 3.3 Value Chain & Distribution Channel Analysis

    4. 4. Market Segmentation

      1. 4.1 By Product Grade

      2. 4.2 By Vehicle Type

        1. 4.2.1 Commercial Vehicles

        2. 4.2.2 Motorcycles

        3. 4.2.3 Passenger Vehicles

    5. 5. Competitive Landscape

      1. 5.1 Key Strategic Moves

      2. 5.2 Market Share Analysis

      3. 5.3 Company Profiles

        1. 5.3.1 Bharat Petroleum Corporation Limited

        2. 5.3.2 BP PLC (Castrol)

        3. 5.3.3 ExxonMobil Corporation

        4. 5.3.4 Gulf Oil International

        5. 5.3.5 Hindustan Petroleum Corporation Limited

        6. 5.3.6 Indian Oil Corporation Limited

        7. 5.3.7 Motul

        8. 5.3.8 PETRONAS Lubricants International

        9. 5.3.9 Royal Dutch Shell Plc

        10. 5.3.10 Valvoline Inc.

    6. 6. Appendix

      1. 6.1 Appendix-1 References

      2. 6.2 Appendix-2 List of Tables & Figures

    7. 7. Key Strategic Questions for Lubricants CEOs

    List of Tables & Figures

      Figure 1:  

      VEHICLE POPULATION, NUMBER OF UNITS, INDIA, 2015 - 2026

      Figure 2:  

      COMMERCIAL VEHICLES POPULATION, NUMBER OF UNITS, INDIA, 2015 - 2026

      Figure 3:  

      MOTORCYCLES POPULATION, NUMBER OF UNITS, INDIA, 2015 - 2026

      Figure 4:  

      PASSENGER VEHICLES POPULATION, NUMBER OF UNITS, INDIA, 2015 - 2026

      Figure 5:  

      INDIA AUTOMOTIVE ENGINE OILS MARKET, VOLUME SHARE (%), BY PRODUCT GRADE, 2020

      Figure 6:  

      INDIA AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, BY VEHICLE TYPE, 2015-2026

      Figure 7:  

      INDIA AUTOMOTIVE ENGINE OILS MARKET, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

      Figure 8:  

      INDIA AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, COMMERCIAL VEHICLES, 2015-2026

      Figure 9:  

      INDIA AUTOMOTIVE ENGINE OILS MARKET, COMMERCIAL VEHICLES, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 10:  

      INDIA AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, MOTORCYCLES, 2015-2026

      Figure 11:  

      INDIA AUTOMOTIVE ENGINE OILS MARKET, MOTORCYCLES, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 12:  

      INDIA AUTOMOTIVE ENGINE OILS MARKET, VOLUME IN LITERS, PASSENGER VEHICLES, 2015-2026

      Figure 13:  

      INDIA AUTOMOTIVE ENGINE OILS MARKET, PASSENGER VEHICLES, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

      Figure 14:  

      INDIA AUTOMOTIVE ENGINE OILS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021

      Figure 15:  

      INDIA AUTOMOTIVE ENGINE OILS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021

      Figure 16:  

      INDIA AUTOMOTIVE ENGINE OILS MARKET SHARE(%), BY MAJOR PLAYERS, 2020

    Market Definition

    • Vehicle Types - Passenger Vehicles, Commercial Vehicles and Motorcycles are the vehicle types considered under the automotive lubricants market.
    • Product Types - For the purpose of this study, lubricant products such as engine oils, transmission oils, greases and hydraulic fluids are taken into consideration.
    • Service Refill - Service refill is the primary factor considered while accounting the lubricant consumption for each of the vehicle segments, under the study.
    • Factory Fill - First lubricant fill-ups for newly produced vehicles are considered.

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    Research Methodology

    Mordor Intelligence follows a four-step methodology in all our reports.

    • Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
    • Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
    • Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
    • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms

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    Frequently Asked Questions

    The India Automotive Engine Oils Market market is studied from 2015 - 2026.

    The India Automotive Engine Oils Market is growing at a CAGR of 7.32% over the next 5 years.

    Motorcycles is growing at the highest CAGR over 2021- 2026.

    Motorcycles holds highest share in 2021.

    Bharat Petroleum Corporation Limited, BP PLC (Castrol), Gulf Oil International, Hindustan Petroleum Corporation Limited, Indian Oil Corporation Limited are the major companies operating in India Automotive Engine Oils Market.