India Automotive Lubricants Market: 2.0% CAGR Expected During 2023-28 Forecast Period

India Automotive Lubricants Market Insights Report Overview:

According to the latest market study by MarkNtel Advisors titled “India Automotive Lubricants Market Size, Share, Trends, Growth, Opportunity Analysis 2023-2028” presents a thorough examination of market drivers, opportunities and challenges.

Utilizing a quantitative approach, it offers precise insights into market size, share, and growth. Crafted by industry experts, the report delves into consumption patterns, geographical analysis, and competitive landscapes. Its objective is to furnish valuable insights for clients seeking to comprehend and leverage market dynamics. With a dual focus on historical achievements and future projections, it furnishes a nuanced understanding of the market terrain.

India Automotive Lubricants Market Insight:

The India Automotive Lubricants Market is projected to grow at a CAGR of around 2.0% during the forecast period, i.e., 2023-28.

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Key Trend: Substantial Investment in the Improvement of Road Infrastructure & Connected Highways

The governmental programs and policies are working towards improving the infrastructure and building connecting highways between significant traffic points and major cities to resolve the under-penetration of vehicles in many urban and rural areas fueling the market expansion. Moreover, the government has been aiming to construct various national highways and transform the road infrastructure of numerous states. For instance, under the Union Budget 2022-23, the Government of India allocated a higher investment of INR 199,107.71 crores (USD 26.04 billion) to the Ministry of Road Transport and Highways. These aspects are leading to more vehicle utilization and further avenues for market growth.

Competitor Insight: India Automotive Lubricants Market

This report focuses on major market participants like:

Gulf Oil Lubricants
Indian Oil
Castrol
Hindustan Petroleum
Bharat Petroleum
Tidewater Oil
Shell India
Vavoline Cummins
ExonnMobil
Tata Oil

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Segmentation Summary: India Automotive Lubricants Market

This segmentation analysis outlines prominent sections in the report’s table of contents. Each segment undergoes thorough analysis, including sub-segments, to showcase both current and historical market sizes. The analysis underscores investment opportunities for rapid growth, particularly in the India Automotive Lubricants Market, with notable highlighting on:

-By Type

Engine Oil
Gear & Brake Oil
Transmission Fluid
Grease
Others

Here, Engine oil is anticipated to dominate the market during the forecasting period. The market hike imputes to the growth in production of the automotive sector, promoting a surge in consumption and demand for engine oils. Besides, the high production and sales of two-wheeler vehicles further prosper the consumption of lubricants, expanding the segment’s market. The requirement of engine oil secures its position in the industry through applications such as protection from wear, tear & corrosion, varnish & sludge, lubricating internal combustion, and maintaining the smooth operation of the engine and different parts of it by creating a thin film between the moving parts for enhancing the transfer of heat and reducing tension during contact.

-By Vehicle Type

Passenger Car
Light Commercial Vehicle
Medium and Heavy Commercial Vehicles
Off the Road (OTR)
Two Wheelers
Three Wheeler

-By Base Oil

Mineral
Synthetic
Semi-Synthetic
Bio-Based

-By Demand Category

OEM
OES
Independent Aftermarket (IA)

-By Sales Channel

Authorized Dealers
Retailers
Workshops and Garage
Petrol Pumps

India Automotive Lubricants Market Geographical Reach:

East
West
North
South

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Key Questions Addressed:

Factors Driving Market Growth: Understand the primary drivers propelling the India Automotive Lubricants market forward.
Access to Reliable Reports: Learn where to access dependable market reports for informed decision-making.
Growth Projections: Gain insights into anticipated growth projections for the coming years.
Geographical Hotspots: Identify geographical poised for significant market growth soon.

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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 14.8 diverse industrial verticals.

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