Lubricant Industry in India Size & Share Analysis - Growth Trends & Forecasts (2024 - 2026)

The Report Covers India Lubricant Market Companies & Size and it is Segmented by End User (Automotive, Heavy Equipment, Metallurgy & Metalworking, Power Generation) and by Product Type (Engine Oils, Greases, Hydraulic Fluids, Metalworking Fluids, Transmission & Gear Oils)

India Lubricants Market Size

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India Lubricants Market
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Study Period 2015 - 2026
Base Year For Estimation 2020
Market Volume (2024) 2.87 Billion Liters
Market Volume (2026) 3.15 Billion Liters
CAGR (2024 - 2026) 4.76 %
Market Concentration High
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India Lubricants Market Analysis

The India Lubricants Market size is estimated at 2.87 Billion Liters in 2024, and is expected to reach 3.15 Billion Liters by 2026, growing at a CAGR of 4.76% during the forecast period (2024-2026).

  • Largest Segment by End-user Industry - Automotive : Due to the higher volume of engine & gear oil used in motor vehicles compared to any other industrial application, automotive was the largest end user among all categories.
  • Fastest Segment by End-user Industry - Automotive : Automotive is likely to be the fastest-growing end-use segment of lubricants in India due to consumers' rising purchasing power resulting in increasing vehicle ownership.
  • Largest Segment by Product Type - Engine Oils : Engine oil is the highest consumed product category in India owing to the enormous engine size of cars, motorcycles, trucks & buses and their high oil changing frequencies.
  • Fastest Segment by Product Type - Engine Oils : Engine oil consumption in India is likely to grow at a faster rate than other product types due to the growing presence of gasoline- and diesel-run vehicles in the country.

India Lubricants Market Trends

This section covers the major market trends shaping the India Lubricants Market according to our research experts:

Largest Segment By End User : <span style="font-family: 'regular_bold';color:#0e7db3;">Automotive</span>

  • In 2020, the automotive industry dominated the Indian lubricants market, accounting for 58% of the total lubricant consumption in the country. During 2015-2019, lubricant consumption in the automotive industry increased by 35% due to the rapidly growing vehicle usage, sales, and outputs.
  • In 2020, COVID-19-related restrictions led to declined maintenance requirements from several industries. The major impact was observed in the automotive industry, which recorded a dip of 15.7% during the year, followed by heavy equipment (11.3%).
  • Automotive is likely to be the fastest-growing end-user industry of the Indian lubricants market during 2021-2026, with a CAGR of 6.31%, followed by heavy equipment (3.98%). A recovery in the average mileage of vehicles and an increase in new vehicle sales will likely drive lubricants consumption from the automotive industry during 2021-2026.
India Lubricants Market

India Lubricants Industry Overview

The India Lubricants Market is fairly consolidated, with the top five companies occupying 67.13%. 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).

India Lubricants Market Leaders

  1. Bharat Petroleum Corporation Limited

  2. BP Plc (Castrol)

  3. Gulf Oil International

  4. Hindustan Petroleum Corporation Limited

  5. Indian Oil Corporation Limited

*Disclaimer: Major Players sorted in no particular order

India Lubricants Market
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India Lubricants Market News

  • March 2022: ExxonMobil Corporation company has appointed Jay Hooley as lead managing director of the company.
  • January 2022: Effective April 1, ExxonMobil Corporation was organized along three business lines - ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon Solutions.
  • January 2022: Effective January 21, 2022, Royal Dutch Shell plc changes its name to Shell plc.

India Lubricants Market Report - 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 Manufacturing Industry Trends

    3. 3.3 Power Generation Industry Trends

    4. 3.4 Regulatory Framework

    5. 3.5 Value Chain & Distribution Channel Analysis

  4. 4. Market Segmentation

    1. 4.1 By End User

      1. 4.1.1 Automotive

      2. 4.1.2 Heavy Equipment

      3. 4.1.3 Metallurgy & Metalworking

      4. 4.1.4 Power Generation

      5. 4.1.5 Other End-user Industries

    2. 4.2 By Product Type

      1. 4.2.1 Engine Oils

      2. 4.2.2 Greases

      3. 4.2.3 Hydraulic Fluids

      4. 4.2.4 Metalworking Fluids

      5. 4.2.5 Transmission & Gear Oils

      6. 4.2.6 Other Product Types

  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 Royal Dutch Shell Plc

      8. 5.3.8 Savita Oil Technologies Ltd

      9. 5.3.9 TIDE WATER OIL CO. (INDIA) LTD

      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

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India Lubricants Industry Segmentation

By End User
Automotive
Heavy Equipment
Metallurgy & Metalworking
Power Generation
Other End-user Industries
By Product Type
Engine Oils
Greases
Hydraulic Fluids
Metalworking Fluids
Transmission & Gear Oils
Other Product Types
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India Lubricants Market Research FAQs

The India Lubricants Market size is expected to reach 2.87 billion Liters in 2024 and grow at a CAGR of 4.76% to reach 3.15 billion Liters by 2026.

In 2024, the India Lubricants Market size is expected to reach 2.87 billion Liters.

Bharat Petroleum Corporation Limited, BP Plc (Castrol), Gulf Oil International, Hindustan Petroleum Corporation Limited and Indian Oil Corporation Limited are the major companies operating in the India Lubricants Market.

In the India Lubricants Market, the Automotive segment accounts for the largest share by end user.

In 2024, the Automotive segment accounts for the fastest growing by end user in the India Lubricants Market.

In 2023, the India Lubricants Market size was estimated at 2.72 billion Liters. The report covers the India Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Lubricants Market size for years: 2024, 2025 and 2026.

Lubricants in India Industry Report

Statistics for the 2024 Lubricants in India market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Lubricants in India analysis includes a market forecast outlook to 2026 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Lubricant Industry in India Size & Share Analysis - Growth Trends & Forecasts (2024 - 2026)