India Industrial Lubricant Market Share & Size, 2027

1
India Industrial Lubricant Market Forecast
Opportunities, 2027

• Published November 2020

2
Table of Contents
S. No. Contents Contents Contents
1. Product Overview Product Overview Product Overview
2. Research Methodology Research Methodology Research Methodology
3. Executive Summary Executive Summary Executive Summary
4. Voice of Customer Voice of Customer Voice of Customer
5. India Industrial Lubricant Market Outlook, 2013 -2023 India Industrial Lubricant Market Outlook, 2013 -2023 India Industrial Lubricant Market Outlook, 2013 -2023
5.1. Market Size Forecast Market Size Forecast
5.1.1. By Value
5.1.2. By Volume
5.2. Market Share Forecast Market Share Forecast
5.2.1. By Lubricant Type (Metal Working Fluid, Industrial Engine Oil, Hydraulic Oil, Grease, Gear Oil, Compressor Oil, Bearing Oil and Others)
5.2.2. By Application (Machining, Hydraulics, Gear, Bearing, Turbine, Air Compressor and Others)
5.2.3. By End Use (Power and Oil Gas, Construction Mining, Automotive Auto Components, Iron Steel, Chemical, Marine Shipping, Machine Tools Machinery and Others)
5.3.4. By Sales Channel (Direct, Distributors, and Traders Retailers)
5.2.5. By Region
5.2.6. By Company
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Table of Contents
S. No. Contents Contents Contents
6. India Hydraulic Oil Market Outlook, 2013-2023 India Hydraulic Oil Market Outlook, 2013-2023 India Hydraulic Oil Market Outlook, 2013-2023
6.1. Market Size Forecast Market Size Forecast
6.1.1. By Value
6.1.2. By Volume
6.2. Market Share Forecast Market Share Forecast
6.2.1. By Packaging
6.2.2. By End Use
6.2.3. By Sales Channel
7. India Metal Working Fluid Market Outlook, 2013-2023 India Metal Working Fluid Market Outlook, 2013-2023 India Metal Working Fluid Market Outlook, 2013-2023
7.1. Market Size Forecast Market Size Forecast
7.1.1. By Value
7.1.2. By Volume
7.2. Market Share Forecast Market Share Forecast
7.2.1. By Packaging
7.2.2. By End Use
7.2.3. By Sales Channel
8. India Industrial Engine Oil Market Outlook, 2013-2023 India Industrial Engine Oil Market Outlook, 2013-2023 India Industrial Engine Oil Market Outlook, 2013-2023
8.1. Market Size Forecast Market Size Forecast
8.1.1. By Value
8.1.2. By Volume
8.2. Market Share Forecast Market Share Forecast
8.2.1. By Packaging
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Table of Contents
S. No. Contents Contents Contents
8.2.2. By End Use
8.2.3. By Sales Channel
9. India Grease Market Outlook, 2013-2023 India Grease Market Outlook, 2013-2023 India Grease Market Outlook, 2013-2023
9.1. Market Size Forecast Market Size Forecast
9.1.1. By Value
9.1.2. By Volume
9.2. Market Share Forecast Market Share Forecast
9.2.1. By Packaging
9.2.2. By End Use
9.2.3. By Sales Channel
10. India Gear Oil Market Outlook, 2013-2023 India Gear Oil Market Outlook, 2013-2023 India Gear Oil Market Outlook, 2013-2023
10.1. Market Size Forecast Market Size Forecast
10.1.1. By Value
10.1.2. By Volume
10.2. Market Share Forecast Market Share Forecast
10.2.1. By Packaging
10.2.2. By End Use
10.2.3. By Sales Channel
11. India Compressor Oil Market Outlook, 2013-2023 India Compressor Oil Market Outlook, 2013-2023 India Compressor Oil Market Outlook, 2013-2023
11.1. Market Size Forecast Market Size Forecast
11.1.1. By Value
11.1.2. By Volume
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Table of Contents
S. No. Contents Contents Contents
11.2. Market Share Forecast Market Share Forecast
11.2.1. By Packaging
11.2.2. By End Use
11.2.3. By Sales Channel
12. India Bearing Oil Market Outlook, 2013-2023 India Bearing Oil Market Outlook, 2013-2023 India Bearing Oil Market Outlook, 2013-2023
12.1. Market Size Forecast Market Size Forecast
12.1.1. By Value
12.1.2. By Volume
12.2. Market Share Forecast Market Share Forecast
12.2.1. By Packaging
12.2.2. By End Use
12.2.3. By Sales Channel
13. Market Dynamics Market Dynamics Market Dynamics
13.1. Drivers Drivers
13.2. Challenges Challenges
14. Market Trends Developments Market Trends Developments Market Trends Developments
15. Policy Regulatory Landscape Policy Regulatory Landscape Policy Regulatory Landscape
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Table of Contents
S. No. Contents Contents Contents
16. India Economic Profile India Economic Profile India Economic Profile
17. Competitive Landscape Competitive Landscape Competitive Landscape
17.1. Company Profiles Company Profiles
17.1.1. Indian Oil Corporation Limited
17.1.2. Bharat Petroleum Corporation Limited
17.1.3. Castrol India Limited
17.1.4. Hindustan Corporation Limited
17.1.5. Tide Water Oil Co. (India) Ltd
17.1.6. Shell India Market Pvt. Limited
17.1.7. Gulf Petrochem Petroleums Limited
17.1.8. ExxonMobil Lubricants Pvt. Limited
17.1.9. Gulf Oil Lubricants India Limited
17.1.10. Total Oil India Pvt. Limited
18. Strategic Recommendations Strategic Recommendations Strategic Recommendations
19. About Us Disclaimer About Us Disclaimer About Us Disclaimer
7

• Scope of Report
• Product of Interest (POI) Industrial Lubricant

Lubricant is a substance which is used for the
reduction of friction between surfaces in mutual
contact and reduce heat generation in automobile
engines. Industrial Lubricants as well as fluids
are sub-categories of lubricants and are used for
applications in automobile industry. Industrial
Lubricants are the motor oils containing
dispersant-detergent, anti-wear and antioxidants
as additives to provide demulsibility,
dispersancy, adhesiveness and corrosion
resistance to regulate flash point, provide
durability to engines and other vehicle parts,
enhance pressure handling ability, reduce
friction and protect material.
Market Coverage

LUBRICANT TYPE
LUBRICANT TYPE

• Power
• Oil Gas
• Construction Mining, Automotive Auto
  Components, Iron Steel
• Chemical
• Marine Shipping
• Machine Tools Machinery Others

• Metal Working Fluid
• Industrial Engine Oil
• Hydraulic Oil
• Grease
• Gear Oil
• Compressor Oil
• Bearing Oil and Others

APPLICATION

• Machining
• Hydraulics
• Gear
• Bearing
• Turbine
• Air Compressor
• Others

SALES CHANNEL

• Direct
• Distributors
• Traders Retailers

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RESEARCH METHODOLOGY
9

• Research Methodology

Market Profiling
Data Analysis
Data Collection
Data Validation
Developing List of Respondents
Formulating Questionnaire
In-depth secondary research was conducted to
determine top players in the India Industrial
Lubricant market, overall market size and
segmental market size.
The data was scrutinized using MS-Excel,
statistical tools and internal proprietary
database to obtain qualitative and quantitative
insights about the India Industrial Lubricant
market.
Data obtained as a result of primary and
secondary research was validated through rigorous
triangulation.
TechSci conducted interviews with industry
experts and industry players for data collection
and verification.
In order to conduct industry experts interviews,
TechSci formulated a detailed discussion guide.
List of industry players and industry specialists
was developed.
Primary Research
Desk Research
Company Analysis

• Recent Developments
• Market Changing Aspects/Dynamics
• Government Policies
• Conclusion

• Market Participants
• Key Strengths

• Identifying Key Opinion Leaders
• Questionnaire Design
• In-depth Interviews

10

• Research Methodology

• Baseline Methodology
• Our dedicated team of industry experts has
  monitored and analyzed various aspects of the
  India Industrial Lubricant market. The team has
  analyzed the outlook of various segments of this
  market, while considering the major influencing
  factors such as rising demand of the product in
  different Vehicle Segments. The study includes
  market forecasting, which would enable our
  clients to take better decisions while planning
  their strategy to achieve sustainability in the
  India Industrial Lubricant market.
• Methodology Followed for Calculation of Market
  Size
• Market Size by Value Volume Market size, in
  terms of value, for the FY2020 was calculated
  based on information collected through exhaustive
  secondary research and primary surveys, with
  various key opinion leaders/stakeholders, such as
  Industrial Lubricant companies, channel partners,
  market influencers End Use, industry experts,
  and other industry participants.
• The team interviewed more than 8-10 Industrial
  Lubricant companies, 50 75 end users, and 15
  20 industry experts and other value chain
  stakeholders in the global Industrial Lubricant
  market to obtain the overall market size from
  2015 to 2019, which was validated by the Delphi
  technique. Taking standard deviation into
  consideration, the market size was averaged out,
  to arrive at the market size data during
  2015-2019. The currency used in the report is the
  United States Dollar (USD), with the market size
  indicated in USD million.

Currency 2020 2019 2018 2017 2016 2015 2014 2013
Indian INR / USD 74.15 70.42 68.45 65.13 67.20 64.18 61.02 58.63
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• Research Methodology

• Respondents were asked about the current and
  future market growth rates, market shares by
  Sales Channel, by base oil, by company and by
  region . Removing the outlier responses, the
  geometric mean of growth estimates and provider
  wise revenue shares generated across various
  segments were considered, to arrive at the final
  revenue shares. Revenue shares generated across
  various segments were further triangulated from
  other stakeholders.
• We captured country wise production and foreign
  trade. Demand was estimated adding import and
  subtracting production in production. Inventory
  of product is not considered for demand supply
  gap.
• Methodology Followed for Calculation of Market
  Shares
• Market shares by end use, by application, by end
  use, by company and by region were calculated
  based on the responses received through primary
  surveys with industry experts, in which the
  respondents were asked about the market shares or
  revenue generated from various segments of
  Industrial Lubricant markets. The final shares
  were calculated by taking the geometric mean of
  the responses gathered from key opinion leaders
  after eliminating the outliers.
• Methodology Followed for Forecasting
• TechSci Research performed periodical checks on
  data collected through the surveys with logic
  checks and analyzed the survey results in
  SPSS/Tableau Software.
• Data triangulation techniques were applied to
  fill the gaps and to present a more meaningful
  picture of the market. To forecast global
  Industrial Lubricant market, TechSci Research
  used various forecast techniques such as
• Moving Average
• Time Series Analysis
• Regression Analysis Econometric and Judgmental
  Analysis

12

• Research Methodology

TechSci Research used its own forecast tool,
which is based on the growth of various allied
industries in respective regions. TechSci
Research also used the impact analysis during
short, medium- and long-term period to estimate
the demand and to reach accurate market numbers.
It should be noted that the figures compiled are
only for the organized market including market
share data.
Partial List of Companies and Suppliers Interviewed Key Secondary End Uses
Indian Oil Corporation Ltd. Bharat Petroleum Corporation Ltd. Castrol India Ltd. Bharat Petroleum Corporation Ltd. Hindustan Petroleum Corporation Ltd. Tidewater Oil Corporation India Ltd. Valvoline Cummins India Private Ltd. Gulf Oil Lubricants India Ltd. Shell India Exxon Mobil Lubricants Private Ltd. Total Oil India Pvt Ltd. World Bank TechSci Research Proprietary Database Knowledge Repository Company Annual Reports Industry Magazines Industry Reports News Dailies Credible Paid Databases Society of Indian Automotive Manufacturers Ministry of Road Transport and Highways Independent Lubricant Manufacturers Association OICA PPAC UN Comtrade
13

• Industry Brief

According to TechSci Research report, India
Industrial Lubricant Market By Lubricant Type
(Metal Working Fluid, Industrial Engine Oil,
Hydraulic Oil, Grease, Gear Oil, and Others), By
Application (Machining, Hydraulics, Gear,
Bearing, Turbine, Air Compressor and Others), By
Packaging Size (Less than and equal to 2 liters,
5 Liters, 10 Liters, 20 Liters, Barrel), By End
Use (Construction Mining, Automotive Auto
Components, Marine Shipping, Machine Tools
Machinery and Others), By Sales Channel (Direct,
Distributors, and Traders Retailers), By
Region, Competition, Forecast Opportunities,
FY2013 FY2027, industrial lubricant market in
India is projected to reach USD 1.91 billion by
FY2027 and the market is expected to grow at a
CAGR of 3.66 in the forecast years. Over the
past few years, industrial lubricant market has
witnessed constant growth, owing to increasing
demand from sectors and increased preference for
higher performance oil and technological
upgradations coupled with lubricant companies
focusing on higher margin, is expected to fuel
the countrys industrial lubricant market.
Government projects aimed at developing smart
cities, in addition to 100 FDI in construction
development sector is expected to boost the
construction market. Moreover, the government is
planning to develop new seaports and airports.
Initiatives taken by the Governments to boost the
infrastructure of the country and increasing
demand for advanced lubricants with higher
specifications such as low viscosity and long
lifespan has been increasing across the country
are catalyzing the demand for heavy machinery
requiring industrial lubricants for proper
functioning. India automotive industry is
expanding at a fast rate to meet the growing
domestic demand for all kind of vehicles. For
instance, Hyundai Motor India Ltd (HMIL) has
already expanded its production capacity from
0.71 million units to 0.75 million units and
planning to enhance by 0.5 million by next year
.Moreover, growing investments in the aviation
sector are expected to boost the demand for
industrial lubricants, owing to the propelling
demand for heavy and light machinery equipment.
For instance, Uttar Pradesh government has
approved USD194.04 million for Jewar Airport
Project. The first phase of the project is
expected to be completed by 2023. Delhi
International Airport will invest USD285.71
million for its capacity expansion and the
project is estimated to be completed by
2022. Hydraulic oil is used in various industries
for several applications such as pneumatic and
hydraulic systems, heavy machinery, construction
business, cement manufacturing and mining
activities. Government initiatives aimed at the
construction of more than 100 smart cities in
India by 2022 would boost the demand for heavy
machinery, which in turn is expected to increase
the demand for hydraulic oil in coming years. As
players in the countrys mining sector are
boosting their production capacities, demand for
heavy equipment with large size hydraulic boxes
is increasing, which is in turn is fueling the
hydraulic oil segment. For instance, Kusmunda
Coal Mining Project in Chhattisgarh is expanding
its production capacity from 18.75 MTPA to 50
MTPA. West India is the largest demand
generating region for industrial lubricants in
India, growing number of government initiatives
such as Green Energy Corridor in Gujarat,
Maharashtra and Madhya Pradesh are scheduled for
implementation by FY 2024. Moreover, continuous
rise in oil gas production capacities in
Gujarat and Maharashtra are expected to boost the
demand for industrial lubricants over the coming
years. The region has the maximum installed
capacity of Power Generation i.e., Hydro,
Thermal, Nuclear and Renewable and it is expected
that the capacity will increase in the coming
years. These factors are likely to boost the
demand for industrial lubricants in West India in
coming years., said Mr. Karan Chechi, Research
Director with TechSci Research, a research based
global management consulting firm.
14

• Sample Data - Snapshot

India Industrial Lubricant Market Size, By Value
(INR Billion) By Volume (Million Liters),
FY2013FY2027F
FY2013-FY2020 CAGR xx By Value xx By Volume
FY2021E-FY2027F CAGR xx By Value xx By Volume
India Hydraulic Oil Market Share, By Packaging
Size, By Volume, FY 2013 FY 2027F
India Bearing Oil Market Share, By Sales Channel,
By Volume, FY 2013 FY 2027F
15

• Report Ordering

Report Name India Industrial Lubricant Market
Forecast Opportunities, 2027
Report Price
License Type Price
Electronic Access - Single User License 2950
Electronic Access - Multi-User License 3750
Custom Research License 7500
To View Sample OR Purchase Report
16
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India. TechSci Research provides market research
reports in number of areas to organizations. The
company uses innovative business models that
focus on improving productivity, while ensuring
creation of high-quality reports. The proprietary
forecasting models use various analyses of both
industry-specific and macroeconomic variables on
a state-by-state basis to produce a unique
bottom-up model of a country, regional and
global industry prospects. Combined with the
detailed analysis of company activity and
industry trends, the result is a uniquely rich
evaluation of the opportunities available in the
market.
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