India Passenger Vehicles Lubricants Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 556.47 Million Liters |
| Market Volume (2026) | 626.94 Million Liters |
| CAGR (2024 - 2026) | 6.14 % |
| Market Concentration | High |
India Passenger Vehicles Lubricants Market Analysis
The India Passenger Vehicles Lubricants Market size is estimated at 556.47 Million Liters in 2024, and is expected to reach 626.94 Million Liters by 2026, growing at a CAGR of 6.14% during the forecast period (2024-2026).
- Largest Segment by Product Type - Engine Oils : Engine oils form the leading product type due to their high volume requirements and shorter drain intervals. They are used in high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Transmission & Gear Oils : The projected adoption growth of electric vehicle (EV) sales and automatic cars in India may enhance the demand for transmission oils demand during the forecast period.
India Passenger Vehicles Lubricants Market Trends
This section covers the major market trends shaping the India Passenger Vehicles Lubricants Market according to our research experts:
Largest Segment By Product Type : Engine Oils
- In India, passenger vehicles (PV) form the third-largest segment in terms of automotive lubricant consumption. During 2015-2019, the country recorded a CAGR of 7% in PV lubricant consumption due to a rise in the sales and usage of passenger vehicles.
- In 2020, passenger vehicles accounted for about 31.15% of the total automotive lubricant consumption in the country. Engine oil accounted for the largest share, of almost 80%, in the PV lubricant consumption during the year. During 2020, PV lubricants consumption declined by 16% due to the COVID-19 outbreak, which led to a dip in PV sales and delays in service intervals.
- Over 2021-2026, the transmission oils segment is estimated to become the fastest-growing segment, at a CAGR of 7.46%. The growing demand for vehicles with automatic transmissions is projected to drive the demand for transmission oils in the country over the coming years.
India Passenger Vehicles Lubricants Industry Overview
The India Passenger Vehicles Lubricants Market is moderately consolidated, with the top five companies occupying 64.43%. The major players in this market are Bharat Petroleum Corporation Limited, BP PLC (Castrol), Hindustan Petroleum Corporation Limited, Indian Oil Corporation Limited and Royal Dutch Shell Plc (sorted alphabetically).
India Passenger Vehicles Lubricants Market Leaders
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Bharat Petroleum Corporation Limited
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BP PLC (Castrol)
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Hindustan Petroleum Corporation Limited
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Indian Oil Corporation Limited
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Royal Dutch Shell Plc
*Disclaimer: Major Players sorted in no particular order
India Passenger Vehicles Lubricants Market News
- December 2021: ExxonMobil introduced a line of synthetic engine oils, i.e., Mobil Super Pro, for SUVs in India.
- September 2021: Shell partnered with ReadyAssist, a Bengaluru-based 24-hour roadside assistance firm, to provide a seamless oil changing service across the country. Customers can get a free lube change for their vehicles when they buy Shell lubricants through ReadyAssist, which will be accessible at up to 5,500 third-party retail outlets across the country.
- September 2021: ExxonMobil launched the Mobil Super All-in-One Protection SUV Pro synthetic engine oil for SUVs.
India Passenger Vehicles Lubricants Market Report - Table of Contents
1. Executive Summary & Key Findings
2. Introduction
2.1 Study Assumptions & Market Definition
2.2 Scope of the Study
2.3 Research Methodology
3. Key Industry Trends
3.1 Automotive Industry Trends
3.2 Regulatory Framework
3.3 Value Chain & Distribution Channel Analysis
4. Market Segmentation
4.1 By Product Type
4.1.1 Engine Oils
4.1.2 Greases
4.1.3 Hydraulic Fluids
4.1.4 Transmission & Gear Oils
5. Competitive Landscape
5.1 Key Strategic Moves
5.2 Market Share Analysis
5.3 Company Profiles
5.3.1 Bharat Petroleum Corporation Limited
5.3.2 BP PLC (Castrol)
5.3.3 ExxonMobil Corporation
5.3.4 Gulf Oil International
5.3.5 Hindustan Petroleum Corporation Limited
5.3.6 Idemitsu Kosan Co. Ltd
5.3.7 Indian Oil Corporation Limited
5.3.8 Royal Dutch Shell Plc
5.3.9 TIDE WATER OIL CO. (INDIA) LTD
5.3.10 Valvoline Inc.
6. Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
India Passenger Vehicles Lubricants Industry Segmentation
| By Product Type | |
| Engine Oils | |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
India Passenger Vehicles Lubricants Market Research FAQs
How big is the India Passenger Vehicles Lubricants Market?
The India Passenger Vehicles Lubricants Market size is expected to reach 556.47 million Liters in 2024 and grow at a CAGR of 6.14% to reach 626.94 million Liters by 2026.
What is the current India Passenger Vehicles Lubricants Market size?
In 2024, the India Passenger Vehicles Lubricants Market size is expected to reach 556.47 million Liters.
Who are the key players in India Passenger Vehicles Lubricants Market?
Bharat Petroleum Corporation Limited, BP PLC (Castrol), Hindustan Petroleum Corporation Limited, Indian Oil Corporation Limited and Royal Dutch Shell Plc are the major companies operating in the India Passenger Vehicles Lubricants Market.
Which segment has the biggest share in the India Passenger Vehicles Lubricants Market?
In the India Passenger Vehicles Lubricants Market, the Engine Oils segment accounts for the largest share by product type.
Which is the fastest growing segment in the India Passenger Vehicles Lubricants Market?
In 2024, the Transmission & Gear Oils segment accounts for the fastest growing by product type in the India Passenger Vehicles Lubricants Market.
What years does this India Passenger Vehicles Lubricants Market cover, and what was the market size in 2023?
In 2023, the India Passenger Vehicles Lubricants Market size was estimated at 513.27 million Liters. The report covers the India Passenger Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Passenger Vehicles Lubricants Market size for years: 2024, 2025 and 2026.
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