India Lubricants Market Size, Share & Trends Analysis Report By Product (Industrial Lubricants, Automotive Lubricants, Marine Lubricants, Aerospace Lubricants), And Segment Forecasts, 2024 - 2030

India Lubricants Market Size, Share & Trends Analysis Report By Product (Industrial Lubricants, Automotive Lubricants, Marine Lubricants, Aerospace Lubricants), And Segment Forecasts, 2024 - 2030

India Lubricants Market Growth & Trends

The India lubricants market size is expected to reach USD 9.70 billion by 2030, expanding at a CAGR of 4.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing demand for lubricants from automobile and manufacturing industries is driving the industry growth.

Lubricants are growing in demand for use in the aerospace and automobile industries. Motul India announced campaigns for launch of their new synthetic engine oils for improved engine performance. The campaign not only provides information about benefits of new engine oil but also increases awareness regarding engine maintenance.

Companies like TotalEnergies are investing in the development of lubricant fluids specifically for electric vehicles with growing demand for electric vehicles in the market. Indian automobile market recorded 1.5 million electric vehicles sales in 2023, with growing popularity for electric vehicles in the market, lubricant manufacturing companies have growing opportunities to manufacture greases, brake fluids, and battery coolants specialized for electric vehicles.

India Lubricants Market Report Highlights

• Based on product, the automotive lubricants segment held the largest market share of 57% in 2023. The automotive industry in India continues to grow, fueled by domestic demand and increasing export opportunities
• The aerospace lubricants segment is expected to grow at the fastest-growing CAGR over the forecast period. The Indian aviation industry recorded 152 million domestic passengers in 2023. The rising air passenger traffic, driven by economic growth, increasing disposable incomes, and greater connectivity, necessitates a larger fleet size
• The growing demand for maintenance and repairs of aircraft operating in domestic air travel is anticipated to propel the demand for lubricants in the aerospace lubricants segment

Please note The report will be delivered in 2-3 business days upon order notification.