India lubricant market
Posted by Nishigandha Sachin Bhushinge on February 17th, 2020
India lubricant market is expected to grow at a CAGR of 4.77% during the forecast period.
India Lubricants Market, by End-User IndustryIncreasing vehicle production and sale is observed as a major factor driving India's lubricant market. Lubricants play a vital role in decreasing friction between critical rotating or moving components, dissolving heat which can transform into equipment durability and availability. Ongoing investment in distribution & branding, demand for advanced lubricants and government initiatives towards infrastructure development and growing focus of manufacturers on expanding their production capacities, is expected to fuel the country's industrial lubricant market. Moreover, the government is planning to develop new seaports and airports which is going to positively influence the industrial lubricant market in India during the forecast period. However, rising crude oil prices restrain the growth of India lubricant market.
Automotive segment dominated the India lubricant market. This is attributed to a rising in automotive production and sales. The sales of new motor vehicles in the country has been on a constant rise, majorly owing to the growing working population and growing middle-class incomes. The automotive production in India has been on an escalating path with yearly growth rates of over 6%, thus, increasing the demand for engine oils and other lubricants employed in the automotive industry. Substantial investment activity in this segment from both domestic and foreign players. Increasing demand for speciality lubricants due to rising growth areas such as power generation and shipping.
Hydraulic oils are identified as a leading product segment in the India lubricants market owing to their greater index of viscosity, higher bulk modulus, hydrolytic stability, resistance to wear and demulsification. Hydraulic oil held approximately 30% share, followed by 20-25% of industrial engine oils. Rising concerns from major industries regarding the maintenance of machinery in order to provide a better quality output has accelerated the demand for in the industrial engine oils country.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding India Lubricant Market dynamics, structure by identifying and analyzing the market segments and project the market size. Further, the report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER's analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to emerging segment in India Lubricant Market.
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Scope of the India Lubricants Market
India Lubricants Market, by Product Type:
• Engine Oil
• Transmission & Hydraulic Fluid
• Metalworking Fluid
• General Industrial Oil
• Gear Oil
• Process Oils
India Lubricants Market, by End-User Industry:
• Power Generation
• Heavy Equipment
• Metallurgy & Metal Working
• Chemical Manufacturing
Key Players analyzed in the Report:
• Exxon Mobil Corporation
• Amsoil Inc.
• Apar Industries Ltd
• Balmer Lawrie & Co. Ltd
• BP PLC
• Bharat Petroleum Corporation Limited (BPCL)
• Continental Petroleums Limited
• GP Petrolemus Ltd
• Idemitsu Kosan Co. Ltd
• Indian Oil Corporation Ltd (IOCL)
• Royal Dutch Shell PLC
• Veedol International Limited
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About the AuthorNishigandha Sachin Bhushinge
Joined: December 18th, 2019
Articles Posted: 87
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