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India Automotive Lubricants Market Size (2024 - 2029)

The automotive lubricants market in India is projected to experience steady growth over the forecast period, driven primarily by the increasing number of passenger cars. Despite the potential slowdown due to the rising penetration of electric vehicles, the market is expected to maintain its expansion trajectory. The engine oil segment remains the most popular product type, and the market is anticipated to benefit from the establishment of new manufacturing facilities and the enhancement of existing ones.

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Market Size of India Automotive Lubricants Industry

India Automotive Lubricants Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Volume (2024) 100 Million tons
Market Volume (2029) 150 Million tons
CAGR (2024 - 2029) 2.00 %
Market Concentration High

Major Players

India Automotive Lubricants Market - Key Players

*Disclaimer: Major Players sorted in no particular order

India Automotive Lubricants Market Analysis

The India Automotive Lubricants Market size is estimated at 100 Million tons in 2024, and is expected to reach 150 Million tons by 2029, growing at a CAGR of 2% during the forecast period (2024-2029).

In 2020, COVID-19 negatively impacted the automotive lubricants market in India. However, the market has now been estimated to have reached pre-pandemic levels and is forecast to grow steadily in the future.

  • The rise in the number of passenger cars in the nation is the major factor driving the demand for automotive lubricants during the forecast period.
  • On the other hand, the growing penetration of electric cars is likely to slow the growth of the market.
  • The engine oil product type was the most popular in the market, and this is likely to stay the case over the next few years.
  • In the future, the market is likely to benefit from the opening of new manufacturing plants and the increased capacity of the plants that are already there.

India Automotive Lubricants Industry Segmentation

Lubricant products are made from a combination of base oils and additives. The composition of base oil in the formulation of lubricants is primarily between 75-90%. Automotive lubricants protect the vehicle and increase the efficiency of the vehicle.

The India Automotive Lubricants Market is segmented based on product type and vehicle type. By product type, the market is segmented into engine oils, transmission oils, hydraulic fluids, and greases. By vehicle type, the market is segmented into passenger vehicles, commercial vehicles, and motorcycles. For each segment, market sizing and forecasts have been provided on the basis of volume (metric tons).

Product Type
Engine Oils
Transmission Oils
Hydraulic Fluids Greases
Greases
Vehicle Type
Passenger Vehicles
Commercial Vehicles
Motorcycles
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India Automotive Lubricants Market Size Summary

The Indian automotive lubricants market is poised for steady growth, driven primarily by the increasing number of passenger cars in the country. Despite the initial setbacks caused by the COVID-19 pandemic, the market has rebounded to pre-pandemic levels and is expected to expand further. The engine oil segment remains the most popular, supported by the robust demand from the internal combustion engine sector. However, the growing adoption of electric vehicles may pose a challenge to the market's growth trajectory. The market is also anticipated to benefit from the establishment of new manufacturing facilities and the expansion of existing ones, which will enhance production capacities and meet the rising demand for automotive lubricants.

The demand for automotive lubricants is further bolstered by the significant increase in vehicle production and sales in India, particularly in the passenger and commercial vehicle segments. The preference for automatic transmissions in passenger vehicles has led to a heightened demand for automatic transmission oils, while high-performance greases are essential for various auto parts. The market is characterized by the presence of major players such as Indian Oil Corporation Ltd., BP p.l.c., and Hindustan Petroleum Corporation Limited, among others. Initiatives like Shell's used oil management service aim to improve waste oil disposal and re-refining rates, contributing to the circular economy in the lubricants industry.

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India Automotive Lubricants Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Rising Use of Passenger Vehicles In The Country

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 The Growing Penetration of Electric Vehicles

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Product Type

      1. 2.1.1 Engine Oils

      2. 2.1.2 Transmission Oils

      3. 2.1.3 Hydraulic Fluids Greases

      4. 2.1.4 Greases

    2. 2.2 Vehicle Type

      1. 2.2.1 Passenger Vehicles

      2. 2.2.2 Commercial Vehicles

      3. 2.2.3 Motorcycles

India Automotive Lubricants Market Size FAQs

The India Automotive Lubricants Market size is expected to reach 100 million tons in 2024 and grow at a CAGR of 2% to reach 150 million tons by 2029.

In 2024, the India Automotive Lubricants Market size is expected to reach 100 million tons.

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