This report provides a comprehensive look at the Automotive and Industrial Lubricants Market in India, projected from 2014-2019. It includes production and consumption trends, which are impacted by improving lubricants and engine quality in the Indian market.
India is mostly an import market for oil and lubricants, and ranks fifth in the world in terms of volume. Slowed GDP growth in 2013 impacted industrial activity, as well as margins in the lubricant industry. Lubricant usage in India can be divided into two key markets--industrial and automotive. Automotive lubricant demand is driven primarily by growth of the vehicle population, consisting primarily of commercial vehicles and tractors. Industrial lubricant growth is linked to the Index of Industrial Production (IIP), and primarily involves process oils as a main contributor.
Original Equipment Manufacturers (OEMs), petrol pumps, and bazaar/retail trade are the primary distribution channels in the Indian Lubricant market, with bazaars being the most profitable. Major players in the market include Castrol India Limited, Hindustan Petroleum Corporation Limited (HPCL), Gulf Oil Corporation Limited (GOCL), and Indian Oil Corporation Limited (IOCL). Other multinational corporations such as Shell, Total, and Exxon Mobil and numerous local players make up the remainder of the market.