India Synthetic Lubricating Oil Market, Status and Outlook (2024-2030)
India Synthetic Lubricating Oil market size was valued at US$ 1.28 billion in 2024 and is projected to reach US$ 1.95 billion by 2030, at a CAGR of 7.3% during the forecast period 2024-2030.
Artificially produced lubricants designed to reduce friction and wear in mechanical systems, offering superior performance compared to conventional mineral oils. The Indian Synthetic Lubricating Oil market is showing strong growth, driven by the expanding automotive sector, increasing industrial automation, and growing awareness of the benefits of synthetic oils.
Key players include global brands like Castrol and Mobil, alongside domestic companies such as Gulf Oil and Servo. The market benefits from India's robust manufacturing sector and the push for energy efficiency. In 2024, automotive synthetic oils accounted for 62% of the market, with industrial applications showing rapid growth.
The industry is seeing innovation in bio-based synthetic oils to address environmental concerns. There's growing demand for long-life synthetic oils that extend service intervals. Manufacturers are developing specialized synthetic oils for electric and hybrid vehicles. The market is benefiting from the premiumization trend in the automotive aftermarket. Challenges include the higher cost compared to conventional oils and the need to educate consumers about the long-term benefits of synthetic lubricants.
As India's automotive and industrial sectors advance, the Synthetic Lubricating Oil market is expected to see continued strong growth, particularly in high-performance and severe operating conditions.
This report contains market size and forecasts of Synthetic Lubricating Oil in India, including the following market information:
- India Synthetic Lubricating Oil Market Revenue, 2019-2024, 2024-2030, ($ millions)
- India Synthetic Lubricating Oil Market Sales, 2019-2024, 2024-2030,
- India Top five Synthetic Lubricating Oil companies in 2023 (%)
Report Includes
This report presents an overview of India market for Synthetic Lubricating Oil , sales, revenue and price. Analyses of the India market trends, with historic market revenue/sales data for 2019 - 2023, estimates for 2024, and projections of CAGR through 2030.
This report focuses on the Synthetic Lubricating Oil sales, revenue, market share and industry ranking of main manufacturers, data from 2019 to 2024. Identification of the major stakeholders in the India Synthetic Lubricating Oil market, and analysis of their competitive landscape and market positioning based on recent developments and segmental revenues.
This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.
This report analyzes the segments data by Type, and by Sales Channels, sales, revenue, and price, from 2019 to 2030. Evaluation and forecast the market size for Humidifier sales, projected growth trends, production technology, sales channels and end-user industry.
Segment by Type
- Organic Esters
- Synthetic Hydrocarbons
- Polyether
- Polysiloxane (silicone oil)
- Containing Oil
- Phosphate
Segment by Applications
- Industrial Use
- Commercial Vehicles
- Others
Key Companies covered in this report:
- Indian Oil Corporation Ltd
- Hindustan Petroleum Corporation Limited
- Bharat Petroleum Corporation Limited
- Castrol India Limited
- Gulf Oil Lubricants India Ltd
- Shell India Markets Pvt Ltd
- ExxonMobil Lubricants Pvt Ltd
- TotalEnergies India
- Savita Oil Technologies Ltd
- Balmer Lawrie & Co. Ltd
Including or excluding key companies relevant to your analysis.
Competitor Analysis
The report also provides analysis of leading market participants including:
- Key companies Synthetic Lubricating Oil revenues in Indian market, 2019-2024 (Estimated), ($ millions)
- Key companies Synthetic Lubricating Oil revenues share in Indian market, 2023 (%)
- Key companies Synthetic Lubricating Oil sales in Indian market, 2019-2024 (Estimated),
- Key companies Synthetic Lubricating Oil sales share in Indian market, 2023 (%)
Key Indicators Analysed
- Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2019-2030 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.
- Indian Market Analysis: The report includes Indian market status and outlook 2019-2030. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.
- Market Trends: Market key trends which include Increased Competition and Continuous Innovations.
- Opportunities and Drivers: Identifying the Growing Demands and New Technology
- Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.
Key Benefits of This Market Research:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Synthetic Lubricating Oil Market
- Overview of the regional outlook of the Synthetic Lubricating Oil Market
Key Reasons to Buy this Report:
- Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change
- This enables you to anticipate market changes to remain ahead of your competitors
- You will be able to copy data from the Excel spreadsheet straight into your marketing plans, business presentations or other strategic documents
- The concise analysis, clear graph, and table format will enable you to pinpoint the information you require quickly
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry concerning recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis
- Provides insight into the market through Value Chain
- Market dynamics scenario, along with growth opportunities of the market in the years to come
- 6-month post-sales analyst support
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