India Passenger Vehicles Lubricants - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2015 - 2026
The India Passenger Vehicles Lubricants Market size is estimated at 556.47 Million Liters in 2024, and is expected to reach 626.94 Million Liters by 2026, growing at a CAGR of 6.14% during the forecast period (2024-2026).
Key Highlights
- 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 : 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.
India Passenger Vehicles Lubricants 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.
India Passenger Vehicles Lubricants Industry Overview
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).
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 Product Type
- 4.1.1 Engine Oils
- 4.1.2 Greases
- 4.1.3 Hydraulic Fluids
- 4.1.4 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 Royal Dutch Shell Plc
- 5.3.9 TIDE WATER OIL CO. (INDIA) LTD
- 5.3.10 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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