India Lubricants Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2026

The India Lubricants Market 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 )

INSTANT ACCESS

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/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by End User: Automotive
https://s3.mordorlabs.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Fastest Growing by End User: Automotive
https://s3.mordorlabs.com/cagr/1629296433433_test~cagr_cagr.svg CAGR: 5.14 %

Key Players

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Market Overview

The India Lubricants Market stood at 2.58 billion liters in 2022 and is projected to register a CAGR of 5.14% to reach 3.15 billion liters in 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.

Scope of the Report

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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Key Market Trends

Largest Segment By End User : Automotive

  • 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.

Competitive Landscape

The India Lubricants Market is moderately consolidated, with the top five companies occupying 61.15%. 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

  • 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.

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

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:  

    MANUFACTURING VALUE ADDED, USD BILLION (CURRENT VALUE), INDIA, 2015 - 2020

    Figure 6:  

    POWER GENERATION CAPACITY, GIGAWATT (GW), INDIA, 2015 - 2020

    Figure 7:  

    INDIA LUBRICANTS MARKET, VOLUME IN LITERS, BY END USER, 2015-2026

    Figure 8:  

    INDIA LUBRICANTS MARKET, VOLUME SHARE (%), BY END USER, 2020

    Figure 9:  

    INDIA LUBRICANTS MARKET, VOLUME IN LITERS, AUTOMOTIVE, 2015-2026

    Figure 10:  

    INDIA LUBRICANTS MARKET, AUTOMOTIVE, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 11:  

    INDIA LUBRICANTS MARKET, VOLUME IN LITERS, HEAVY EQUIPMENT, 2015-2026

    Figure 12:  

    INDIA LUBRICANTS MARKET, HEAVY EQUIPMENT, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 13:  

    INDIA LUBRICANTS MARKET, VOLUME IN LITERS, METALLURGY & METALWORKING, 2015-2026

    Figure 14:  

    INDIA LUBRICANTS MARKET, METALLURGY & METALWORKING, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 15:  

    INDIA LUBRICANTS MARKET, VOLUME IN LITERS, POWER GENERATION, 2015-2026

    Figure 16:  

    INDIA LUBRICANTS MARKET, POWER GENERATION, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 17:  

    INDIA LUBRICANTS MARKET, VOLUME IN LITERS, OTHER END-USER INDUSTRIES, 2015-2026

    Figure 18:  

    INDIA LUBRICANTS MARKET, OTHER END-USER INDUSTRIES, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 19:  

    INDIA LUBRICANTS MARKET, VOLUME IN LITERS, BY PRODUCT TYPE, 2015-2026

    Figure 20:  

    INDIA LUBRICANTS MARKET, VOLUME SHARE (%), BY PRODUCT TYPE, 2020

    Figure 21:  

    INDIA LUBRICANTS MARKET, VOLUME IN LITERS, ENGINE OILS, 2015-2026

    Figure 22:  

    INDIA LUBRICANTS MARKET, ENGINE OILS, VOLUME SHARE (%), BY END USER, 2020

    Figure 23:  

    INDIA LUBRICANTS MARKET, VOLUME IN LITERS, GREASES, 2015-2026

    Figure 24:  

    INDIA LUBRICANTS MARKET, GREASES, VOLUME SHARE (%), BY END USER, 2020

    Figure 25:  

    INDIA LUBRICANTS MARKET, VOLUME IN LITERS, HYDRAULIC FLUIDS, 2015-2026

    Figure 26:  

    INDIA LUBRICANTS MARKET, HYDRAULIC FLUIDS, VOLUME SHARE (%), BY END USER, 2020

    Figure 27:  

    INDIA LUBRICANTS MARKET, VOLUME IN LITERS, METALWORKING FLUIDS, 2015-2026

    Figure 28:  

    INDIA LUBRICANTS MARKET, METALWORKING FLUIDS, VOLUME SHARE (%), BY END USER, 2020

    Figure 29:  

    INDIA LUBRICANTS MARKET, VOLUME IN LITERS, TRANSMISSION & GEAR OILS, 2015-2026

    Figure 30:  

    INDIA LUBRICANTS MARKET, TRANSMISSION & GEAR OILS, VOLUME SHARE (%), BY END USER, 2020

    Figure 31:  

    INDIA LUBRICANTS MARKET, VOLUME IN LITERS, OTHER PRODUCT TYPES, 2015-2026

    Figure 32:  

    INDIA LUBRICANTS MARKET, OTHER PRODUCT TYPES, VOLUME SHARE (%), BY END USER, 2020

    Figure 33:  

    INDIA LUBRICANTS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021

    Figure 34:  

    INDIA LUBRICANTS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021

    Figure 35:  

    INDIA LUBRICANTS 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 Lubricants Market market is studied from 2015 - 2026.

The India Lubricants Market stood at 2.58 billion liters in 2022 and is projected to register a CAGR of 5.14% to reach 3.15 billion liters in 2026.

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.

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.

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.

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.

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 India Lubricants Market.