Press release
India Lubricants Market to Expand from USD 2.70 Billion Liters in 2023 to USD 3.86 Billion Liters by 2030 at a 5.24% CAGR - India Lubricants Forecast
India Lubricants Market
According to a recent report by Maximize Market Research, the India Lubricants Market was valued at USD 2.70 billion liters in 2023 and is forecast to reach USD 3.86 billion liters by 2030, growing at a compound annual growth rate (CAGR) of 5.24% over the period 2024-2030. The market growth is fueled by rising automotive sales, expansion in industrial and transportation activities, and increasing demand for synthetic and environmentally friendly lubricants.
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◉ Key Highlights
Market Size & CAGR: USD 2.70 billion liters in 2023; expected to reach USD 3.86 billion liters by 2030; CAGR of 5.24%.
Leading Application Segment: Automotive lubricants (including engine oils, gear oils, brake fluids, etc.) dominated in 2023 and will continue to hold the largest share.
Dominant Distribution Channel: OEM (Original Equipment Manufacturer) sales leads the channel mix; aftermarket also sizable and growing.
Top Drivers & Trends: Growth in automotive production (2-wheelers, passenger cars, commercial vehicles), industrialization, rising adoption of synthetic and bio-based lubricants, regulatory pressure for better product performance, and demand from agricultural and transportation sectors.
Restraints: Price volatility for base oils and additives; competition from counterfeit products; margin pressures; dependency on crude oil price fluctuations.
Major Players: 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 Pvt Ltd; Shell India; Savita Oil Technologies; Total Oil India; BP Plc; Exxon; Veedol; Balmer Lawrie; Apar Industries Ltd among others.
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◉ Market Outlook
Segmentation by Type & Application
The India Lubricants Market is segmented by type into mineral lubricants, synthetic lubricants, bio-based lubricants, and greases. Synthetic and bio-based lubricants are expected to grow at faster rates due to superior performance, environmental friendliness, and increasing regulatory and consumer preference towards green products.
In terms of application, automotive lubricants remain the largest segment, covering engine oils, transmission fluids, gear oils, brake fluids, and coolants. Industrial lubricants (hydraulic fluids, metalworking fluids, turbine and compressor oils, industrial gear oils, etc.) also contribute significantly to demand.
Regional Insights
Different regions of India show varying demand patterns:
Northern India (Haryana, Punjab, Delhi) strong due to industrial clusters and transport/logistics activity.
Western India (Maharashtra, Gujarat) contributes heavily from automotive, manufacturing, petrochemicals sectors.
Southern India (Tamil Nadu, Karnataka) driven by OEMs, industrial manufacturing, and steady demand from transport and agriculture.
Central & Northeast see growing demand especially in agriculture, mining, and with increasing rural transport/infrastructure.
◉ Competitive Landscape
Key players are competing on product quality, performance specifications (viscosity, temperature & pressure stability), synthetic & bio-based lubricant development, brand trust, compliance with standards (BIS, OEM specifications), and distribution reach (OEM vs aftermarket). Companies are likely to invest more in R&D, green lubricant formulations, expanding aftermarket service networks, and ensuring supply chain resilience.
To learn more about the findings of this research, please check:https://www.maximizemarketresearch.com/market-report/india-lubricants-market/29978/
Quote
"With India's automotive and industrial sectors expanding steadily, the lubricants market is set for middle-single digit growth through 2030," said a senior analyst at Maximize Market Research. "Synthetic and bio-based lubricants will play an increasingly critical role, especially in meeting performance, environmental, and regulatory demands."
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◉Contact Maximize Market Research:
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Pune Banglore Highway, Narhe,
Pune, Maharashtra 411041, India
sales@maximizemarketresearch.com
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◉About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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