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.

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Single User License

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Team License

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Corporate License

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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.
India Commercial Vehicles Lubricants Market

India Commercial Vehicle Lubricants Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2026