Press release
India Lubricants Market to Reach USD 3.86 Billion by 2030, Growing at a CAGR of 5.24% Driven by Automotive Demand
India Lubricants Market
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♦ Key Highlights
Market Size: USD 2.70 Bn in 2023; expected to reach USD 3.86 Bn by 2030 at a CAGR of 5.24%.
Leading Application: Automotive lubricants dominate the market.
Largest Regional Market: Western India, including Maharashtra and Gujarat.
Key Drivers: Growth in automotive and industrial sectors, adoption of synthetic lubricants, increasing aftermarket demand.
Top Companies: Shell, Indian Oil Corporation, Bharat Petroleum, Castrol, and TotalEnergies.
♦ Market Outlook
The India lubricants market is witnessing steady growth due to continuous industrial expansion and rising vehicle ownership. Lubricants are essential for reducing friction and maintaining machinery efficiency across automotive, manufacturing, aerospace, and energy sectors. Synthetic lubricants are gaining traction due to their superior performance, fuel efficiency, and longer service intervals. Environmental regulations are also encouraging the use of bio-based and biodegradable lubricants.
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♦ Regional Insights
Western India, particularly Maharashtra and Gujarat, leads the market due to its strong industrial base and automotive manufacturing hubs. Northern India sees demand from commercial and industrial activities, while Southern India benefits from automotive and manufacturing clusters. Central and Northeastern regions rely on agriculture, minerals, and oil and gas sectors, creating diverse demand patterns across the country.
♦ Key Players & Competitive Landscape
The market is highly competitive, with both domestic and international players striving to meet stringent industry standards set by the Bureau of Indian Standards (BIS) and the Automotive Research Association of India (ARAI). Leading players include Shell, Indian Oil Corporation, Bharat Petroleum, Castrol, and TotalEnergies, offering a mix of OEM-approved and aftermarket products.
♦ Quote
"India's lubricants market presents significant growth opportunities, particularly with rising automotive sales and increasing adoption of synthetic lubricants. Companies that focus on innovation and sustainable solutions will likely lead the competitive landscape," said Rajesh Mehta, Senior Analyst at Maximize Market Research.
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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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