India Industrial Lubricants Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Indian industrial lubricants market is expected to record a CAGR of above 4%, during the forecast period, 2019-2024. The major factors driving the growth of the market studied are rising demand from the wind energy sector and the ‘Make in India’ initiative, which is expanding the industrial base in India. However, increased environmental pollution leading to growing industrial regulations is likely to hamper the growth of the market studied.
Key HighlightsThe India industrial lubricants market is partially consolidated in nature, with numerous players holding a significant share of the market, to individually affect the market dynamics. Some of the noticeable players in the market include Indian Oil Corporation Ltd, Hindustan Petroleum Corporation Limited (HPCL), Bharat Petroleum Corporation Limited (BPCL), Castrol Limited (BP), Royal Dutch Shell PLC, and Gulf Oil Lubricants India, among others.
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