Market Overview

Automotive Lubricants in India by Market, Product and Formulation: Historical Demand Data (2006, 2011 and 2016) and Forecasts to 2021 - ResearchAndMarkets.com

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The "Automotive
Lubricants in India by Market, Product and Formulation"
report
has been added to ResearchAndMarkets.com's offering.

This industry study presents historical demand data (2006, 2011, and
2016) and forecasts for 2021 by market (light vehicles, medium & heavy
vehicles, off-highway equipment, motorcycles), product (engine oils,
transmission & hydraulic fluids, gear oils & greases), and formulation
(conventional, synthetic, re-refined/bio-based).

The study also evaluates company market share and analyzes
industry players, including:

  • Bharat Petroleum
  • Castrol India (BP)
  • Hindustan Petroleum
  • Indian Oil

Lubricant Sales Boosted by Economic Growth and Rising Incomes
that Fuel More Intensive Vehicle Use and Increased Automobile Ownership

Demand for automotive lubricants in India is forecast to increase 5.5%
per year through 2021, driven by an acceleration in economic growth that
will boost the number of medium- and heavy-duty vehicles in use, as well
as their annual distance traveled.

A rapid increase in vehicle ownership levels as personal incomes rise
will also support sales, as will stronger gains in construction and
agricultural activity that will drive demand for off-highway equipment
lubricants.

An Expanding Motor Vehicle Fleet Continues to Boost Sales

Ongoing expansion in commerce and shipping activity is expected to fuel
more intensive use of medium and heavy vehicles, which account for over
40% of automotive lubricant sales in India. Lubricant suppliers will
also benefit from growth in the country's light vehicle park, which will
continue to expand due to rising household income levels.

Motorcycles will remain another key market for automotive lubricants in
India, largely due to the sheer size of the country's motorcycle park,
as well as continued overcrowding that makes public transportation
difficult.

India's Expanding Construction Sector and Increasingly
Mechanized Agricultural Industry Fuel Lubricants Demand

India is projected to see strong gains in construction activity as the
national government continues to invest in numerous road improvement and
other infrastructure projects. Increased agricultural production and the
ongoing shift to mechanized farm machinery will also boost lubricant
sales.

Demand for Synthetic Formulations to Nearly Double by 2021

India is projected to see rapid advances in the demand for synthetic
lubricants as more advanced engine technologies (that are more likely to
use synthetic formulations) see greater adoption, and as more OEMs
recommend these products for their ability to help improve fuel
efficiency.

Growing consumer awareness of the performance advantages of synthetic
lubricants will also buoy sales, as consumers want to protect what is
considered a significant household investment.

For more information about this report visit https://www.researchandmarkets.com/research/9mmnjt/automotive?w=4

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