India Passenger Vehicles Lubricants Market - Size, Share, Forecast & Covid-19 Impact (2022 - 2027)

The India Passenger Vehicles Lubricants Market is segmented by Product Type ( Engine Oils, Greases, Hydraulic Fluids, Transmission Oils )

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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/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Product Type: Engine Oils
https://s3.mordorlabs.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Fastest Growing by Product Type: Transmission Oils
https://s3.mordorlabs.com/cagr/1629296433433_test~cagr_cagr.svg CAGR: 7.73 %

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Market Overview

The India Passenger Vehicles Lubricants Market stood at 401.05 million liters in 2020 and is projected to register a CAGR of 7.73% to reach 626.94 million liters in 2026.

  • Largest Segment by Product Type - Engine Oils : Engine oils form the leading product type due to their high volume requirements and shorter drain intervals. They are used in high-temperature and high-pressure applications.
  • Fastest Segment by Product Type - Transmission Oils : The projected adoption growth of electric vehicle (EV) sales and automatic cars in India may enhance the demand for transmission oils demand during the forecast period.

Scope of the Report

By Product Type
Engine Oils
Greases
Hydraulic Fluids
Transmission Oils

Report scope can be customized per your requirements. Click here.

Key Market Trends

Largest Segment By Product Type : Engine Oils

  • In India, passenger vehicles (PV) form the third-largest segment in terms of automotive lubricant consumption. During 2015-2019, the country recorded a CAGR of 7% in PV lubricant consumption due to a rise in the sales and usage of passenger vehicles.
  • In 2020, passenger vehicles accounted for about 31.15% of the total automotive lubricant consumption in the country. Engine oil accounted for the largest share, of almost 80%, in the PV lubricant consumption during the year. During 2020, PV lubricants consumption declined by 16% due to the COVID-19 outbreak, which led to a dip in PV sales and delays in service intervals.
  • Over 2021-2026, the transmission oils segment is estimated to become the fastest-growing segment, at a CAGR of 7.46%. The growing demand for vehicles with automatic transmissions is projected to drive the demand for transmission oils in the country over the coming years.

Competitive Landscape

The India Passenger Vehicles Lubricants Market is moderately consolidated, with the top five companies occupying 64.43%. The major players in this market are Bharat Petroleum Corporation Limited, BP PLC (Castrol), Hindustan Petroleum Corporation Limited, Indian Oil Corporation Limited and Royal Dutch Shell Plc (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 Type

        1. 4.1.1 Engine Oils

        2. 4.1.2 Greases

        3. 4.1.3 Hydraulic Fluids

        4. 4.1.4 Transmission Oils

    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 Idemitsu Kosan Co. Ltd

        7. 5.3.7 Indian Oil Corporation Limited

        8. 5.3.8 Royal Dutch Shell Plc

        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:  

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

      Figure 2:  

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

      Figure 3:  

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

      Figure 4:  

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

      Figure 5:  

      INDIA PASSENGER VEHICLES LUBRICANTS MARKET, ENGINE OILS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

      Figure 6:  

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

      Figure 7:  

      INDIA PASSENGER VEHICLES LUBRICANTS MARKET, GREASES, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

      Figure 8:  

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

      Figure 9:  

      INDIA PASSENGER VEHICLES LUBRICANTS MARKET, HYDRAULIC FLUIDS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

      Figure 10:  

      INDIA PASSENGER VEHICLES LUBRICANTS MARKET, VOLUME IN LITERS, TRANSMISSION OILS, 2015-2026

      Figure 11:  

      INDIA PASSENGER VEHICLES LUBRICANTS MARKET, TRANSMISSION OILS, VOLUME SHARE (%), BY VEHICLE TYPE, 2020

      Figure 12:  

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

      Figure 13:  

      INDIA PASSENGER VEHICLES LUBRICANTS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021

      Figure 14:  

      INDIA PASSENGER VEHICLES 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 Passenger Vehicles Lubricants Market market is studied from 2015 - 2026.

    The India Passenger Vehicles Lubricants Market is growing at a CAGR of 7.73% over the next 5 years.

    Engine Oils is growing at the highest CAGR over 2021- 2026.

    Transmission Oils holds highest share in 2021.

    Bharat Petroleum Corporation Limited, BP PLC (Castrol), Hindustan Petroleum Corporation Limited, Indian Oil Corporation Limited, Royal Dutch Shell Plc are the major companies operating in India Passenger Vehicles Lubricants Market.