India Lubricants Market Size, Growth & Trends Forecast 2024-2032
19 Feb, 2025
Market Overview 2024-2032
The India lubricants market size reached US$ 8.44 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 13.55 Billion by 2032, exhibiting a growth rate (CAGR) of 5.10% during 2024-2032. The expanding automotive industry, which has a direct impact on the demand for lubricants, as vehicles require lubrication for engines, transmissions, and other components, is driving the market.
The India lubricants market is witnessing significant demand for high-performance and synthetic lubricants, driven by rapid industrialization and technological advancements in the automotive sector. With the expansion of manufacturing industries, power generation, and transportation, the need for lubricants that enhance efficiency and reduce wear and tear has surged. Additionally, the rising preference for synthetic and semi-synthetic lubricants is reshaping the market landscape. By 2024, a notable shift towards advanced lubricant formulations is expected, fueled by stringent emission regulations and the increasing adoption of electric and hybrid vehicles.
Companies are focusing on producing lubricants with superior thermal stability, oxidation resistance, and extended drain intervals to cater to the evolving needs of modern engines and machinery. This trend is particularly strong in urban areas, where vehicle owners and industries seek premium solutions for long-term cost-effectiveness and sustainability.
Sustainability has become a crucial factor shaping the India lubricants market, as businesses and consumers alike prioritize eco-friendly solutions. The push for biodegradable and bio-based lubricants is gaining momentum, driven by environmental concerns and regulatory pressures. Traditional mineral-based lubricants are increasingly being replaced by greener alternatives derived from renewable sources such as vegetable oils and synthetic esters. In 2024, this trend is expected to accelerate further due to rising awareness regarding carbon footprints and government initiatives promoting sustainable industrial practices.
Leading market players are investing in research and development to formulate lubricants that meet stringent environmental standards without compromising on performance. The growing preference for non-toxic and recyclable lubricant packaging solutions is also contributing to this transformation, making sustainability a key driver in market expansion.
India's expanding automotive and industrial sectors continue to be primary growth engines for the lubricants market. The increase in vehicle ownership, driven by rising disposable incomes and improved road infrastructure, has led to higher consumption of automotive lubricants. Simultaneously, the industrial sector is witnessing robust growth due to infrastructure development, manufacturing expansion, and increased investments in construction and power generation.
By 2024, the demand for lubricants in heavy machinery, metalworking, and mining operations is set to rise significantly, strengthening the market outlook. Additionally, fleet operators and logistics companies are focusing on high-efficiency lubricants to enhance fuel economy and reduce maintenance costs. The surge in electric vehicles (EVs) has also opened new opportunities, with specialized lubricants being developed to cater to EV components, such as battery cooling systems and gear transmissions, ensuring the market’s continued evolution.
India Lubricants Market Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest india lubricants market share. It includes forecasts for the period 2024-2032 and historical data from 2018-2023 for the following segments.
Study Period:
Base Year: 2023
Historical Year: 2018-2023
Forecast Year: 2024-2032
Product Type Insights:
Engine Oil
Transmission/Hydraulic Fluid
Metalworking Fluid
General Industrial Oil
Gear Oil
Grease
Process Oil
Others
Base Oil Insights:
Mineral Oil
Synthetic Oil
Bio-Based Oil
End Use Industry Insights:
Power Generation
Automotive and Other Transportation
Heavy Equipment
Food and Beverage
Metallurgy and Metalworking
Others
Regional Insights:
North India
West and Central India
South India
East and Northeast India
Competitive Landscape:
The market research report offers an in-depth analysis of the competitive landscape, covering market structure, key player positioning, top winning strategies, a competitive dashboard, and a company evaluation quadrant. Additionally, detailed profiles of all major companies are included.
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