India Automotive Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2015 - 2026
The India Automotive Lubricants Market size is estimated at 1.76 Billion Liters in 2024, and is expected to reach 1.97 Billion Liters by 2026, growing at a CAGR of 5.80% during the forecast period (2024-2026).
Key Highlights
- Largest Segment by Vehicle Type - Commercial Vehicles : The highest lubricant consumption in the country's commercial vehicle industry is attributable to India's high average lubricant requirements and the presence of older trucks.
- Fastest Segment by Vehicle Type - Motorcycles : Motorcycle production and sales in India are predicted to improve from 2021 rapidly. As a result, their automotive lubricant consumption is also likely to increase rapidly.
- 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 & Gear Oils : In India, the demand for transmission oils may rise during the forecast period, owing to the growing adoption of automatic transmissions and changing consumer preferences.
India Automotive Lubricants Market Trends
Largest Segment By Vehicle Type : Commercial Vehicles
- In India, motorcycles accounted for 77.55% of the total number of on-road vehicles in 2020, followed by passenger vehicles (PVs) and commercial vehicles (CVs), with a share of 16.84% and 5.61%, respectively.
- However, commercial vehicle accounted for the highest share of 35.7% in total lubricant consumption in 2020, followed by motorcycles (33.15%) and passenger vehicle (31.1%) respectively. In 2020, COVID-19 outbreak led to notable dip in lubricants consumption, wherein the motorcylce lubricant consumption recorded the highest dip rate of 18.6%, followed by passenger vehicles (16.3%).
- The motorcycles segment is projected to be the fastest-growing lubricant segment, with a CAGR of 6.63% over 2021-2026. The growth is projected to be driven by expected rise in demand for personal mobility and rise in electric vehicle usage.
India Automotive Lubricants Industry Overview
The India Automotive Lubricants Market Report is moderately consolidated, with the top five companies occupying 56.08%. 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).
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
- 1 Executive Summary & Key Findings
- 2 Introduction
- 2.1 Study Assumptions & Market Definition
- 2.2 Scope of the Study
- 2.3 Research Methodology
- 3 Key Industry Trends
- 3.1 Automotive Industry Trends
- 3.2 Regulatory Framework
- 3.3 Value Chain & Distribution Channel Analysis
- 4 Market Segmentation
- 4.1 By Vehicle Type
- 4.1.1 Commercial Vehicles
- 4.1.2 Motorcycles
- 4.1.3 Passenger Vehicles
- 4.2 By Product Type
- 4.2.1 Engine Oils
- 4.2.2 Greases
- 4.2.3 Hydraulic Fluids
- 4.2.4 Transmission & Gear Oils
- 5 Competitive Landscape
- 5.1 Key Strategic Moves
- 5.2 Market Share Analysis
- 5.3 Company Profiles
- 5.3.1 Bharat Petroleum Corporation Limited
- 5.3.2 BP PLC (Castrol)
- 5.3.3 ExxonMobil Corporation
- 5.3.4 Gulf Oil International
- 5.3.5 Hindustan Petroleum Corporation Limited
- 5.3.6 Idemitsu Kosan Co. Ltd
- 5.3.7 Indian Oil Corporation Limited
- 5.3.8 PETRONAS Lubricants International
- 5.3.9 Royal Dutch Shell Plc
- 5.3.10 TIDE WATER OIL CO. (INDIA) LTD
- 5.3.11 TotalEnergies
- 5.3.12 Valvoline Inc.
- 6 Appendix
- 6.1 Appendix-1 References
- 6.2 Appendix-2 List of Tables & Figures
- 7 Key Strategic Questions for Lubricants CEOs
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