How big is the India Commercial Vehicles Lubricants Market?

The India Commercial Vehicles Lubricants Market size is expected to reach 607.21 million Liters in 2024 and grow at a CAGR of 5.25% to reach 672.64 million Liters by 2026. Read More

What is the current India Commercial Vehicles Lubricants Market size?

In 2024, the India Commercial Vehicles Lubricants Market size is expected to reach 607.21 million Liters. Read More

Who are the key players in India Commercial Vehicles Lubricants Market?

Bharat Petroleum Corporation Limited, BP PLC (Castrol), Gulf Oil International, Hindustan Petroleum Corporation Limited and Indian Oil Corporation Limited are the major companies operating in the India Commercial Vehicles Lubricants Market. Read More

Which segment has the biggest share in the India Commercial Vehicles Lubricants Market?

In the India Commercial Vehicles Lubricants Market, the Engine Oils segment accounts for the largest share by product type. Read More

Which is the fastest growing segment in the India Commercial Vehicles Lubricants Market?

In 2024, the Transmission & Gear Oils segment accounts for the fastest growing by product type in the India Commercial Vehicles Lubricants Market. Read More

What years does this India Commercial Vehicles Lubricants Market cover, and what was the market size in 2023?

In 2023, the India Commercial Vehicles Lubricants Market size was estimated at 574.75 million Liters. The report covers the India Commercial Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Commercial Vehicles Lubricants Market size for years: 2024, 2025 and 2026. Read More

India Commercial Vehicles Lubricants Market Trends

Statistics for the 2023 & 2024 India Commercial Vehicles Lubricants market trends, created by Mordor Intelligence™ Industry Reports. India Commercial Vehicles Lubricants trend report includes a market forecast to 202 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of India Commercial Vehicles Lubricants Industry

This section covers the major market trends shaping the India Commercial Vehicles Lubricants Market according to our research experts:

Largest Segment By Product Type : <span style="font-family: 'regular_bold';color:#0e7db3;">Engine Oils</span>

In India, commercial vehicles (CVs) formed the largest segment and accounted for about 35.7% of lubricant consumption. During 2015-2019, lubricant consumption registered a CAGR of 8.41% in the commercial vehicle segment. This growth was majorly driven by the rise in sales of lightweight trucks.
In 2020, commercial vehicle lubricant consumption declined by 12%, as the COVID-19 outbreak affected vehicle production. Engine oils accounted for a 70% share in CV lubricant consumption, followed by hydraulic fluids. A major dip was observed in the engine oil consumption in the CV segment during the year, owing to the impact of COVID-19 outbreak.
Over the forecast period, the transmission oils segment is likely to be the fastest-growing segment with a CAGR of 6.55%. This growth is likely to be driven by the OEM companies' efforts toward launching trucks with automatic transmission systems.