India Automotive Lubricant Market: In-Depth Analysis of Size, Share, and Growth - TechSci Research

Posted by Kumar on October 18th, 2023

Introduction:

TechSci Research presents a comprehensive analysis of the Indian Automotive Lubricant market in its report titled, "India Automotive Lubricant Market - By Region, Competition, Forecast and Opportunity, 2028." The market is poised to reach USD 9.35 billion by 2028, with an expected Compound Annual Growth Rate (CAGR) of 8.08% during the forecasted years. This report delves into the key factors contributing to this growth, such as the crucial role of lubricants in the automotive sector, advances in automotive technology, and the evolving landscape of automotive lubricant products.

The Role of Lubricants:

A lubricant is a substance that plays a critical role in reducing friction between moving surfaces, thereby minimizing heat generation during their interaction. Lubricants serve various functions, including the transmission of forces, transport of foreign particles, temperature regulation, contamination control, power transmission (in hydraulics), and provision of a fluid seal. Engine oils, gear oils, transmission fluids, and grease are the most common types of lubricants used in automotive vehicles.

Browse more than 60 market data Figures spread through 132 Pages and an in-depth TOC on "India Automotive Lubricant Market" - https://www.techsciresearch.com/report/india-automotive-lubricants-market/3848.html

Driving Forces for Market Growth:

Expanding Vehicle Fleet Size: The Indian Automotive Lubricant market is experiencing robust growth due to the escalating number of vehicles on the road. The increasing vehicle fleet size is driving the demand for lubricants to ensure smooth and efficient operation.

Advancements in Automotive Technology: The evolving automotive technology landscape is a significant driver of market expansion. Manufacturers are continuously investing in research and development to enhance the properties of auto components and improve overall vehicle efficiency. The adoption of nano-particles in lubricants is a noteworthy innovation, reducing frictional resistance and increasing the load capacity of engines.

Demand for High-Quality Lubricants: There is a growing demand for high-quality lubricants that can improve vehicle performance and durability. Lubricants are considered essential for vehicle maintenance, and the increasing average lifespan of vehicles in operation is further boosting demand.

Market Segmentation:

The India Automotive Lubricant Market is segmented based on various factors, including vehicle type, lubricant type, base oil, demand category, rating, sales channel, region, and competitive landscape.

Vehicle Types: Segmentation by vehicle type includes Two-Wheelers, Passenger Cars, Light Commercial Vehicles, Medium & Heavy Commercial Vehicles, and Off-the-Road (OTR) vehicles. Two-wheelers hold a substantial market share of approximately 44.2%, driven by their cost-effectiveness, improved mileage, and reliability.

Lubricant Types: The market is categorized by lubricant type into Engine Oil, Gear Oil, Grease, Transmission Fluid, and Others. Engine oil dominates the market with a share of around 41.84%. Engine oil's primary function is to reduce friction and wear on moving engine parts while also maintaining engine cleanliness and cooling capabilities.

Base Oils: The market offers three categories based on base oils: Synthetic, Semi-Synthetic, and Mineral. The Mineral segment holds the largest market share due to its temperature-resistant properties and stability, making it a preferred choice for engine oil lubrication and protection.

Demand Categories: Demand categories include Original Equipment Manufacturer (OEM) and Aftermarket. The aftermarket segment is expected to dominate the demand category due to the recurring demand for engine oil changes and other lubrication products.

Some of the major players operating in the India Automotive Lubricant Market include:

· Indian Oil Corporation Limited

· Castrol India Limited

· Bharat Petroleum Corporation Limited

· Hindustan Petroleum Corporation Limited

· Tidewater Oil Corporation India Limited

· Gulf Oil Lubricants India Limited

· Valvoline Cummins Private Limited

· Shell India

· Savita Oil Technologies Ltd

· Total Oil India Private Limited

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“There are numerous potentials for the development and marketing of new lubricants in the Indian Automotive lubricant market. With increased number on vehicle on road, the need for maintenance and services is increased which raises the need for more premium and advanced lubricants. The need for lubricants is also expanding along with the number of vehicles. Additionally, the government's standardization of the vehicle leads lubricant makers to engage in research and development to produce high-quality lubricant which meet the governments standards.-."said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“India Automotive Lubricant Market By Vehicle Type (Two Wheelers, Three wheelers, Passenger Cars, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, OTR), By Lubricant Type (Engine Oil, Gear oil, Grease, Transmission Fluid, Others) By Base Oil (Synthetic, Semi-Synthetic, Minerals), By Demand Category (OEM, Aftermarket), By Region, Competition, Forecast & Opportunities, 2028” has evaluated the future growth potential of India Automotive Lubricant Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the India Automotive Lubricant Market.

What to Expect in the Sample Report:

Thorough market analysis, including size, growth projections, and key trends.
Insights into the driving forces and challenges shaping the automotive lubricant market.
Detailed segmentation based on vehicle types, lubricant types, and more.
Competitive landscape with key market players.
Exploration of technological advancements and innovations in the industry.

Who Will Benefit from This Report:

Automobile Manufacturers: Gain insights into market trends and consumer preferences for lubricant products.
Investors: Identify opportunities in the thriving automotive sector.
Lubricant Manufacturers: Understand market dynamics and emerging technologies for product development.
Government and Policy Makers: Utilize data for informed regulations and standards in the automotive industry.
Academic and Research Institutions: Access valuable information for studies related to lubrication technology and automotive engineering.

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