How big is the India Passenger Vehicles Lubricants Market?

The India Passenger Vehicles Lubricants Market size is expected to reach 556.47 million Liters in 2024 and grow at a CAGR of 6.14% to reach 626.94 million Liters by 2026. Read More

What is the current India Passenger Vehicles Lubricants Market size?

In 2024, the India Passenger Vehicles Lubricants Market size is expected to reach 556.47 million Liters. Read More

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

Bharat Petroleum Corporation Limited, BP PLC (Castrol), Hindustan Petroleum Corporation Limited, Indian Oil Corporation Limited and Royal Dutch Shell Plc are the major companies operating in the India Passenger Vehicles Lubricants Market. Read More

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

In the India Passenger 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 Passenger Vehicles Lubricants Market?

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

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

In 2023, the India Passenger Vehicles Lubricants Market size was estimated at 513.27 million Liters. The report covers the India Passenger Vehicles Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Passenger Vehicles Lubricants Market size for years: 2024, 2025 and 2026. Read More

India Passenger Vehicles Lubricants Market Trends

Statistics for the 2023 & 2024 India Passenger Vehicles Lubricants market trends, created by Mordor Intelligence™ Industry Reports. India Passenger 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 Passenger Vehicles Lubricants Industry

This section covers the major market trends shaping the India Passenger 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, passenger vehicles (PV) form the third-largest segment in terms of automotive lubricant consumption. During 2015-2019, the country recorded a CAGR of 7% in PV lubricant consumption due to a rise in the sales and usage of passenger vehicles.
In 2020, passenger vehicles accounted for about 31.15% of the total automotive lubricant consumption in the country. Engine oil accounted for the largest share, of almost 80%, in the PV lubricant consumption during the year. During 2020, PV lubricants consumption declined by 16% due to the COVID-19 outbreak, which led to a dip in PV sales and delays in service intervals.
Over 2021-2026, the transmission oils segment is estimated to become the fastest-growing segment, at a CAGR of 7.46%. The growing demand for vehicles with automatic transmissions is projected to drive the demand for transmission oils in the country over the coming years.