Indian Industrial Lubricants Market size was valued at USD 13,045 Million in 2024 and is expected to reach USD 20,715 Million by 2033, at a CAGR of 4.12% during the forecast period 2024 – 2033.
Indian Industrial Lubricants Market: Overview
Industrial lubricants play a vital role in the automotive industry, where they are used in engines, transmissions, differentials, and various other components. Industrial lubricants are a trusted lubricant brand in the industrial segment, catering to specific requirements of textiles, power, sugar, steel, off-highway vehicles and many other industries.
Various factors such as the rapidly expanding automotive industry in India, growing manufacturing industry, increasing investment in the chemical industry in India, Rapid industrialization in many states such as Gujrat, Maharashtra, Uttar Pradesh, Tamil Nadu, Karnataka and Andhra Pradesh and rise in the number of trade activities are boosting the demand for industrial lubricants.
Factors such as high cost of economic uncertainties and downturns and fluctuation in raw material prices and counterfeiting of Industrial lubricants are restraining the market growth.
Supportive government policies such as the Make in India Initiative, Production Linked Incentive Scheme, growing E- e-commerce industry in India are some of the factors boosting the production and sales of industrial lubricants, thereby creating lucrative opportunities for the market during the forecast period.
Indian Industrial Lubricants market is segmented by product type, base oil, by end user, by sales channels and by region. By Product Type, the Indian Industrial lubricants market is segmented into hydraulic fluids, metalworking fluids, gear oil, compressor oil, grease, turbine oil, transformer oil, refrigeration oil, textile machinery lubricants and others. Among all of these, the hydraulic fluids segment dominated the market in 2023 and is expected to keep its dominance during the forecast period.
By base oil, Indian industrial lubricants market is segmented into mineral oil, synthetic oil and bio-based oil. Among all of these, the Mineral oil segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period.
By end user, Indian industrial lubricants are segmented into agriculture, automotive, cement production, chemical production, metal and mining, marine applications, oil and gas and Others. Among all of these, chemical production held the highest market share in 2023 and is expected to keep its dominance during the forecast period owing to the rapidly expanding chemical and material industry in India.
By Region, North India is expected to hold a significant market share in Indian Industrial Lubricants market during the forecast period. States like Uttar Pradesh, Delhi, Punjab, Haryana, Uttrakhand, and J&K are playing crucial roles in the market growth of this region.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 13,045 Million |
| Projected Market Size in 2033 | USD 20,715 Million |
| Market Size in 2023 | USD 12,513 Million |
| CAGR Growth Rate | 4.12% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Product Type, Base Oil, End User, Sales Channel and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Country Scope | India |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Custom Market Insights has comprehensively analyzed India Industrial Lubricants market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this India Industrial Lubricants industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
List of the prominent players in the Indian Industrial Lubricants Market:
- Amsoil Inc.
- Bharat Petroleum Corporation Limited
- Castrol Oil
- China Petroleum and Chemical Corp (Sinopec Corporation)
- Gulf Oil
- Hindustan Petroleum Corporation Limited
- Indian Oil Corporation Limited
- Nyanas AB
- Mosil Lubricants
- PetroChina Company Limited
- Raj Petrochem Ltd.
- Savita Oil Co. Ltd
- Shell plc.
- The Idemitsu Kosan Company Ltd.
- Tide Water Oil Co. (India) Limited
- Total Energies SE
- Valvoline Cummins Private Limited
- Others
These key players are adopting various organic and inorganic growth strategies such as mergers & acquisitions, joint ventures, collaborations, expansion, strategic alliances, new product launches, etc. to enhance their product portfolio and business operations.
The Indian Industrial Lubricants Market is segmented as follows:
By Product Type
- Hydraulic Fluids
- Metalworking Fluids
- Gear Oil
- Compressor Oil
- Grease
- Turbine Oil
- Transformer Oil
- Refrigeration Oil
- Textile Machinery Lubricants
- Others
By Base Oil
- Mineral Oil
- Synthetic Oil
- Bio-Based Oil
By End User
- Agriculture
- Automotive
- Cement Production
- Chemical Production
- Construction
- Food Processing
- Marine Applications
- Metal and Mining
- Oil and Gas
- Power Generation
- Pulp and Paper
- Textile Manufacturing
- Others
By Sales Channel
- Online
- Offline