India Automotive Lubricant Market Forecast, Demands PDF

INDIA AUTOMOTIVE LUBRICANTS MARKET FORECAST AND OPPORTUNITIES

6.1. Market Size & Forecast

6.1.1. By Volume & Value

6.2. Market Share & Forecast

6.2.1. By Vehicle Type (Two-Wheelers, Passenger Cars, M&HCV, OTR, Three-Wheelers and LCV)

6.2.2. By Lubricant Type (Engine Oil, Gear Oil, Transmission Fluids, Grease and Others)

6.2.3. By Base Oil (Synthetic, Semi-Synthetic and Mineral)

6.2.4. By Demand Category (Aftermarket and OEM)

6.2.5. By Region (West, North, South and East)

7.2.1.

7.2.4.

9.1.

9.2.

9.2.1.

9.2.2.

9.2.3.

11.2.

13. India Industrial Lubricants Market Overview(Lubricants which are used in various Industries)

13.1. Market Size & Forecast

13.1.1. By Volume

13.2. Market Share & Forecast

13.2.1. By Lubricant Type

13.2.2. By End User (Power Generation, Heavy Equipment, Metallurgy Metalworking, Chemical Manufacturing and Others (Oil Gas, Textiles, Packaging, etc.)

14. Voice of Customer (India Industrial Automotive Lubricants Market)

14.3.

14.4.

14.5.

Other Than Top 5 Brands Preferences while considering price factor for Purchase Decision

Top 5 Brands Preferences while considering quality factor for Purchase Decision

Other Than Top 5 Brands Preferences while considering quality factor for Purchase Decision

21.1.1.

21.1.2.

21.1.3.

21.1.4.

21.2.

21.3.

21.2.1.

21.2.2.

21.3.4. Key Management Personnel

21.4. Bharat Petroleum Corporation Limited

21.4.1. Company Details

21.4.2. Key Products Offered

21.4.3. Recent Developments

21.4.4. Key Management Personnel

21.5. Gulf Oil Lubricants India Limited

21.5.1. Company Details

21.5.2. Key Products Offered

21.5.3. Recent Developments

21.5.4. Key Management Personnel

21.6.

21.6.1. Company Details

21.6.2.

21.6.4. Key Management Personnel

21.7.3. Recent Developments

21.7.4. Key Management Personnel

21.8. Tide Water Oil Corporation India Limited

21.8.1. Company Details

21.8.2. Key Products Offered

21.8.3. Recent Developments

21.8.4. Key Management Personnel

21.9. Total Oil India Private Limited

21.9.1. Company Details

21.9.2. Key Products Offered

21.9.3. Recent Developments

21.9.4. Key Management Personnel

21.10. Savita Oil Technologies Ltd.

21.10.1. Company Details

21.10.2. Key Products Offered

Scope of Report

Product of Interest (POI): Automotive Lubricants

A lubricant is generally a fluidic material with primary function of reducing friction between surfaces in contact. For Example, Engine oil is a specific type of lubricant that is developed for application in engines.

Market Segmentation

By Vehicle Type

• Passenger Cars

• Two-Wheelers

• Three-Wheelers

• Light Commercial Vehicles (LCV)

• Medium & Heavy Commercial Vehicles (M&HCV)

• OTR

INDIA AUTOMOTIVE LUBRICANTS MARKET

By Base Oil

By Lubricant Type

By Demand Category

• Synthetic

• SemiSynthetic

• Mineral

• Engine Oil

• Gear Oil

• Grease

• Transmission Fluids

• Others

• OEM

• Aftermarket

By Region

• North

• South

• West

• East

Year Range

Year Range

Review Period

2018 – 2021

Base Year 2022

Estimated Year 2023

Forecast Period

2024 – 2028

RESEARCH METHODOLOGY

Research Methodology

Formulating Questionnaire Market Profiling

Developing list of Respondents

Data Collection

Data Validation Data Analysis

In-depth secondary research was conducted to determine top companies in India Automotive Lubricants Market, overall market size and segmental market size.

In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide.

List of top companies and industry specialists was developed.

TechSci conducted interviews with industry experts and leadings companies for data collection and verification.

Data obtained as a result of primary and secondary research was validated through rigorous triangulation.

The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about India Automotive Lubricants Market. Data Collection Data Filter & Analysis Research & Intelligence Actionable Insights Business Solution

Primary Research

 Identifying Key Opinion Leaders

 Questionnaire Design

 In-depth Interviews

Desk Research Company Analysis

 Recent Developments

 Market Participants

 Key Strengths

Research Methodology

Objective of the Study

• To analyze historical growth in the market size of India automotive lubricants market from 2018 to 2022.

• To estimate and forecast the market size of India automotive lubricants market from 2023E to 2028F and growth rate until 2028F.

• To classify and forecast India automotive lubricants market based on vehicle type, lubricant type, base oil, demand category, region, and company.

• To analyze and forecast the market size, in terms of vehicle type market share analysis passenger cars, two-wheelers, threewheelers, Light Commercial Vehicles (LCV), Medium & Heavy Commercial Vehicles (M&HCV), and Off-the road (OTR).

• To analyze and forecast the market size, in terms of region which are North Region, West Region, East Region, and South Region.

• To identify drivers, challenges, and trends for India Automotive Lubricants Market.

• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in India Automotive Lubricants Market.

• To identify and analyze the profile of leading companies in India Automotive Lubricants Market.

Baseline Methodology

Our dedicated team of industry experts has monitored and analyzed various aspects of India Automotive Lubricants Market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors development in automotive lubricants, increasing urbanization and middle-income population, and growing automobile industry, etc. The study includes market forecasting, which would enable our clients to take better decision while planning their strategy to achieve sustainability in India automotive lubricants market.

Methodology Followed for Calculation of Market Size:

• Market Size by Value & Volume: Market size, in terms of value & volume, for 2022 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders such as automotive lubricants companies, channel partners, end users, industry experts, and other industry participants.

• The team interviewed more than 20 automotive lubricants companies, 100 automotive lubricant end users and 50 industrial lubricant end users, 20 industry experts, and other value chain stakeholders in India automotive lubricants market to obtain the overall market size from 2018 to 2022, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out to arrive at the market size data during 2018-2022.

• Respondents were asked about the current and future market growth rates, market shares by vehicle type, lubricant type, base oil, demand category, region, and company. Removing the outlier responses, the geometric mean of growth estimates and supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments which were further triangulated based on responses received from other stakeholders.

Forecasting Methodology:

• Market share by vehicle type, lubricant type, base oil, demand category, region, and company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various types of automotive lubricants segments. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers.

• TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/Tableau Software.

Research Methodology

Data Triangulation & Validation:

• Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast India automotive lubricants market, TechSci Research used various forecast techniques such as:

 Moving Average

 Time Series Analysis

 Regression Analysis

 Econometric and Judgmental Analysis

Note: (a) Sum of some shares may not be 100% due to round off till two decimal places.

Assumptions and Limitations:

• The base currency considered is USD. Based on the average exchange rate for the corresponding review period years, other currencies have been converted to USD. The projection period's exchange rate conversion was calculated using the conversion rates from the base year. The base year considered for this study is 2022. The historic period considered for this study is from 2018 to 2021. The forecast CAGR considered is for the period of 2023E-2028F.

Research Methodology

TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research used the impact analysis during short, medium, and long-term period to estimate the demand and to reach accurate market numbers. It should be noted that the figures compiled are only for the organized market including market share data.

Partial List of Companies Interviewed

 Bharat Petroleum Corporation Limited

 Indian Oil Corporation Limited

 Castrol Indian Limited

 Shell Private Limited Company

 Valvoline Cummins Private Limited

 Hindustan Petroleum Corporation Limited

 Gulf Oil Lubricants India Limited

 Tide Water Oil Corporation India Limited

 Total Oil India Private Limited

 Savita Oil Technologies Ltd

Key Secondary Sources

 World Bank

 TechSci Research Proprietary Database & Knowledge Repository

 Company Annual Reports

 Industry Magazines

 Industry Reports

 News Dailies

 Credible Paid Databases

Rising focus on high quality lubricant, increasing vehicle fleet and government standardization are increasing the demand for India Automotive Lubricant market.

According to the TechSci Research report, "India Automotive Lubricant Market- By Region, Competition, Forecast and Opportunity, 2028," The India Automotive Lubricant market is anticipated to reach USD 9.35 billion in 2028 and the India Automotive Lubricant Market value is anticipated to grow with the registering 8.08% CAGR in the forecasted years.

A lubricant is a substance that helps to reduce friction between two surfaces, lowering the heat produced as the surfaces move. It may also transmit forces, transport foreign particles, or heat or cool the surfaces. Lubricity refers to the property of reducing friction. Hence, Lubricants reduce friction, prevent wear, prevent corrosion, control temperature, control contamination, transmit power (hydraulics), and provide a fluid seal. Engine oils, gear oils, transmission oils, and grease are the most common lubricants used in these vehicles.

Rising vehicle fleet size advancements in automotive technology and development in the automotive lubricant are driving revenue growth in the India automotive lubricants market. Furthermore, rising demand for high-quality lubricants is expected to drive market expansion. Lubricant is an important part of any vehicle. Lubricant demand is being driven by rising demand for light passenger vehicles and heavy-duty vehicles, as well as an increase in the average lifespan of vehicles in operation. Automotive lubricants increase a vehicle's overall durability and performance. Also, manufacturers are investing in research and development for enhancing the properties of the auto components. Manufacturers are making specific innovations for improving the car efficiency. They are also adopting nano particles to reduce the dependency  on  diesel and gasoline. Nano- lubricants not only reduce the frictional resistance but also enhance the load capacity of the engine. The India Automotive Lubricant Market is segmented by type, by vehicle type, by base oil, by demand category, by rating, by sales channel, by region and competitive landscape. Based on Vehicle type, the market is segmented into Two-Wheeler, Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle and OTR. Two wheelers have the market share of around 44.2% due to benefits such as low cost, better mileage, and more reliability. Based on the type, the market is segmented into Engine Oil, Gear oil, Grease Transmission Fluid and Others. Based on Lubricant type, the India Automotive lubricant market is dominated by engine oil by around 41.84%. The main job of engine oil is to lessen friction and wear on moving parts while also clearing the engine of varnish and sludge. By removing heat from the engine's moving parts, it aids in cooling the engine. The market is divided into three categories based on base oil, including synthetic, semi-synthetic, and minerals. Due to its temperature-resistant properties and stability, minerals segment accounted for the largest market share in the India Automotive Lubricants Market due to its adoption in engine oil for lubrication and engine protection. Based on the Demand category, the market is divided into OEM and Aftermarket. The aftermarket segment is expected to command the largest share of the demand category. The growing demand for engine oils, which must be changed at regular intervals, is driving the demand for automotive lubricants for the aftermarket.

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

“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

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TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.

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• United States Automotive Lubricants Market by Vehicle Type (Passenger Car, Two-Wheeler, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle and Off the Road Vehicle(OTR)), By Lubricant Type (Engine Oil, Grease, Gear Oil, Transmission Fluids, Others), By Base Oil (Mineral Oil, Bio-Based fluid, Synthetic Oil), By Demand Category (OEM Vs. Replacement) Forecast & Opportunities, 2028

• Automotive Lubricant Market- Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 20172027, Segmented By Vehicle Type (Two-Wheeler, PC, LCV, MHCV), By Sales Channel (OEM & Aftermarket), By Product Type (Engine Oil, Transmission Oil, Hydraullic Oil, Grease), By Region

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The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and firsthand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.