India Industrial Lubricants Market Size (2024 - 2029)

India Industrial Lubricants Market Analysis

During the time frame of the forecast, the Indian industrial lubricants market is expected to register a CAGR of more than 4%.

Due to the COVID-19 outbreak, the manufacturing industry was severely affected, which resulted in a decrease in the usage of lubricants in 2020. However, with the recovery of many construction projects and other industrial activities, the market has seen a recovery phase in the year 2021 and is expected to see a positive trend in the forecasted years. An increase in automotive sales and engineering goods has been leading the market recovery over the last two years.

• The major factors driving the growth of the market studied are rising demand from the wind energy sector and the "Make in India" initiative, which is expanding the industrial base in India.
• On the flip side, the increased environmental pollution that is leading to growing industrial regulations is expected to hinder the growth of the market studied.

Factors, such as the growing mining operations and the robust growth of the construction industry, are likely to provide opportunities for the market studied during the forecast period.

India Industrial Lubricants Industry Segmentation

All industrial lubricant products are made from a combination of base oils and additives. The composition of base oil in the formulation of lubricants is primarily between 75-90%. Base oils possess lubricating properties and make up to 90% of the final lubricant product. Lubrication reduces the amount of energy required to perform mechanical actions and also reduces the amount of energy that is dissipated as heat. The India industrial lubricants market is divided into two sections: product type and end-user industry. By product type, the market is segmented into engine oil, transmission and hydraulic fluid, metalworking fluid, general industrial oil, gear oil, grease, process oil, and other product types. By end-user industry, the market is segmented into power generation, heavy equipment, food and beverage, metallurgy and metalworking, chemical manufacturing, and other end-user industries, including packaging, oil and gas, etc. For each segment, market sizing and forecasts have been done based on volume (millions of liters) for all the above segments.