A recent report by MarkNtel Advisors reveals that the India Automotive Lubricants Market is expected to grow at a compounded annual growth rate (CAGR) of approximately 2% during 2023-28. The report provides a detailed understanding of the industry, including key drivers, challenges, opportunities, and latest trends. It also examines the competitive landscape recent advancements made by leading companies operating in the industry, along with their range of product/service offerings, growth strategies, and presence in different regions/countries.
Our experts have used both primary secondary research methods to gather accurate and comprehensive information about the India Automotive Lubricants Market. The study also covers potential growth barriers to the market and highlights untapped opportunities while providing recommendations for stakeholders to prepare for unexpected situations that may arise in the future. The report considers historical data from 2023-28 as the starting point and provides forecasts for the years 2023 to 2028. All market values presented are in USD Million/Billion.
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Goals of the India Automotive Lubricants Market Research Study
- To provide valuable insights into aspects like drivers, challenges, opportunities, threats that impact the growth of the India Automotive Lubricants Market
- To have a complete understanding of the value chain through Porter's five forces model
- To identify positioning of major participants in the India Automotive Lubricants Market, along with their competitive advancements like collaborations, mergers acquisitions, new product releases, and investments in research development.
- To provide thorough information to stakeholders on growth opportunities in fast-growing segments
Market Dynamics
Key Driver: Rising Disposable Income Promoting Automotive Sales
As a result of the emerging economy and spreading urbanization, there is a constant hike in consumers’ disposable income. Additionally, given to modernization and willingness to own a personal vehicle have been powering automotive sales in the country. As a result of rising disposable income and a hike in living standards, surging automotive sales have been driving the market, as lubricants play a vital role in the smooth working of engines and vehicles. Their characteristics of durability, vehicle protection, reduction of friction between the engine parts, and more are essential to extend vehicle life, especially regularly further expanding the industry.
Recent Developments
- In January 2023, McLaren Automotive, a luxury supercar company, announced the renewal of its partnership with Gulf Oil International as its official lubricant and fuel partner for 2023.
- In June 2022, Shell introduced a used oil management service as part of a new attempt to organize India's waste oil disposal infrastructure and enhance re-refining rates. Shell partnered with used oil refiners to start collecting and re-refining used oil across India.
- In April 2022, Indian Oil invested INR 840 crores (~USD 99 million) to build a refinery and set up a greenfield facility in the Northeast, expanding its storage space for petroleum, oil, and lubricant storage.
A Detailed Analysis of Major Segments Driving the India Automotive Lubricants Market Growth
In this section, the report explores the India Automotive Lubricants Market's dynamic landscape, dissected into multiple segments and sub-segments, along with pivotal factors propelling industry growth, to help stakeholders optimize their positioning, target audience, and revenue tactics.
Based on Vehicle Type
- Passenger Car
- Light Commercial Vehicle
- Medium and Heavy Commercial Vehicles
- Off the Road (OTR)
- Two Wheelers
- Three Wheeler
Based on Type
- Engine Oil
- Gear and Brake Oil
- Transmission Fluid
- Grease
- Others
Based on Base Oil
- Mineral
- Synthetic
- Semi-Synthetic
- Bio-Based
Based on Demand Category
- OEM
- OES
- Independent Aftermarket (IA)
Based on Sales Channel
- Authorized Dealers
- Retailers
- Workshops and Garage
- Petrol Pumps
Geographically, the India Automotive Lubricants Market expands across:
- East
-- Bihar
-- Orissa
-- Jharkhand
-- West Bengal
-- Chhattisgarh
-- North-Eastern States
- West
-- Rajasthan
-- Gujarat
-- Goa
-- Maharastra
-- Madhya Pradesh
- North
-- Jammu Kashmir
-- Punjab
-- Uttar Pradesh
-- Uttarakhand
-- Haryana
-- Himachal Pradesh
- South
-- Andhra Pradesh
-- Karnataka
-- Kerala
-- Tamil Nadu
-- Telangana
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Note: The India Automotive Lubricants Market research report can be tailored as per individual client needs, providing comprehensive valuable insights at various levels. This personalized approach enables clients to understand the industry's true potential, effectively tackle growth challenges, devise effective strategies, and make well-informed decisions to maintain a competitive edge in the industry.
India Automotive Lubricants Market Research Report: Key Questions Addressed
- What is the estimated size, share, CAGR of the India Automotive Lubricants Marketduring 2023-28?
- Which segments sub-segments are considered most prevalent in the India Automotive Lubricants Marketresearch study?
- What are the major regions/countries would offer remunerative prospects to the key players in the India Automotive Lubricants Market?
- What are the geographical trends and recent developments in the India Automotive Lubricants Market?
- Which products/services would witness rapidly growing demand in the India Automotive Lubricants Market through 2028?
A Detailed Assessment of Major Companies in the India Automotive Lubricants Market and their Key Growth Strategies
The competitive landscape section of the report unveils the top players in the India Automotive Lubricants Industry, their financials, resources, product offerings, market share, strategic initiatives, RD investments, strengths, weaknesses. All the findings hypothesis on the market ecosystem have been carefully validated through a detailed Porter's five forces analysis.
Companies like,
- Gulf Oil Lubricants
- Indian Oil
- Castrol
- Hindustan Petroleum
- Bharat Petroleum
- Tidewater Oil
- Shell India
- Vavoline Cummins
- ExonnMobil
- Tata Oil
often involve in collaborations for joint venture programs resource sharing to achieve their objectives efficiently.
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About MarkNtel Advisors
MarkNtel Advisors is a leading research, consulting, data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial varied client base, including multinational corporations, financial institutions, governments, individuals, among others.
Our specialization in niche industries emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing forecasting, trend analysis, among others, for 15 diverse industrial verticals. Using such information, our clients can identify attractive investment opportunities strategize their moves to yield higher ROI (Return of Interest) through an early mover advantage with top-management approaches.
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