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India Industrial Lubricant Market Share & Size, 2027

There is continuously increasing demand for metal working fluids from industries involved in automotive components manufacturing where different machining operations are performed such as drilling, milling, honing, lapping, grinding etc to manufacture components like cylinder head, cylinder block, cam shaft, crank shaft etc. Additionally, metal working fluids improve life of the machine tools to a great extent, thus, it is anticipated to fuel the demand for industrial lubricants in India during the forecast period.

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India Industrial Lubricant Market Share & Size, 2027

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  1. India Industrial Lubricant Market Forecast & Opportunities, 2027 Published: November 2020

  2. Ta b l e o f C o n t e n t s S. No. Contents 1. Product Overview 2. Research Methodology 3. Executive Summary 4. Voice of Customer 5. India Industrial Lubricant Market Outlook, 2013 -2023 5.1. Market Size & Forecast 5.1.1. By Value 5.1.2. By Volume 5.2. Market Share & Forecast By Lubricant Type (Metal Working Fluid, Industrial Engine Oil, Hydraulic Oil, Grease, Gear Oil, Compressor Oil, Bearing Oil and Others) 5.2.1. By Application (Machining, Hydraulics, Gear, Bearing, Turbine, Air Compressor and Others) 5.2.2. By End Use (Power and Oil & Gas, Construction & Mining, Automotive & Auto Components, Iron & Steel, Chemical, Marine & Shipping, Machine Tools & Machinery and Others) 5.2.3. 5.3.4. By Sales Channel (Direct, Distributors, and Traders & Retailers) 5.2.5. By Region 5.2.6. By Company 2 © TechSci Research

  3. Ta b l e o f C o n t e n t s S. No. Contents 6. India Hydraulic Oil Market Outlook, 2013-2023 6.1. Market Size & Forecast 6.1.1. By Value 6.1.2. By Volume 6.2. 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 7.1. Market Size & Forecast 7.1.1. By Value 7.1.2. By Volume 7.2. 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 8.1. Market Size & Forecast 8.1.1. By Value 8.1.2. By Volume 8.2. Market Share & Forecast 8.2.1. By Packaging 3 © TechSci Research

  4. Ta b l e o f C o n t e n t s S. No. Contents 8.2.2. By End Use 8.2.3. By Sales Channel 9. India Grease Market Outlook, 2013-2023 9.1. Market Size & Forecast 9.1.1. By Value 9.1.2. By Volume 9.2. 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 10.1. Market Size & Forecast 10.1.1. By Value 10.1.2. By Volume 10.2. 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 11.1. Market Size & Forecast 11.1.1. By Value 11.1.2. By Volume 4 © TechSci Research

  5. Ta b l e o f C o n t e n t s S. No. Contents 11.2. 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 12.1. Market Size & Forecast 12.1.1. By Value 12.1.2. By Volume 12.2. Market Share & Forecast 12.2.1. By Packaging 12.2.2. By End Use 12.2.3. By Sales Channel 13. Market Dynamics 13.1. Drivers 13.2. Challenges 14. Market Trends & Developments 15. Policy & Regulatory Landscape 5 © TechSci Research

  6. Ta b l e o f C o n t e n t s S. No. Contents 16. India Economic Profile 17. Competitive Landscape 17.1. 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 19. About Us & Disclaimer 6 © TechSci Research

  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 Year Range Power • Metal Working Fluid • Oil & Gas • Industrial Engine Oil • Construction & Mining, • Hydraulic Oil • Review Period Automotive & Auto Components, Grease • Iron & Steel FY 2013 – FY2019 Gear Oil • Chemical • Compressor Oil • Base Year Marine & Shipping • Bearing Oil and Others • Machine Tools & Machinery • FY 2020 APPLICATION Others Estimated Year Machining • SALES CHANNEL REGION FY 2021 Hydraulics • © TechSci Research Direct • Gear • North • Forecast Period Distributors • Bearing • East • Traders & Retailers • FY 2022 – FY 2027 Turbine • South • Air Compressor • West • Others • 7

  8. RESEARCH METHODOLOGY 8 © TechSci Research

  9. Research Methodology Market Profiling Data Analysis Data Data Developing List of Respondents Formulating Questionnaire Collection Validation 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 Actionable Insights Data Filter & Analysis Business Solution Research & Intelligence Data Collection ✓ ✓ ✓ ✓ Primary Research Secondary Research Paid Sources LinkedIn TechSci Internal Database Company Websites Company Annual Reports White Paper Study Financial Reports Investor Presentations Regulatory Body Associations, etc. Factiva Hoovers ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ © TechSci Research ✓ ✓ 9

  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 Indian INR / USD 2020 74.15 2019 70.42 2018 68.45 2017 65.13 2016 67.20 2015 64.18 2014 61.02 2013 58.63 © TechSci Research 10

  11. 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 ✓ © TechSci Research Regression Analysis Econometric and Judgmental Analysis ✓ 11

  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 World Bank ▪ Indian Oil Corporation Ltd. ▪ TechSci Research Proprietary Database & Knowledge ▪ Bharat Petroleum Corporation Ltd. ▪ Repository Castrol India Ltd. ▪ Company Annual Reports ▪ Bharat Petroleum Corporation Ltd. Industry Magazines ▪ ▪ Industry Reports ▪ Hindustan Petroleum Corporation Ltd. ▪ News Dailies ▪ Tidewater Oil Corporation India Ltd. ▪ Credible Paid Databases ▪ Valvoline Cummins India Private Ltd. ▪ Society of Indian Automotive Manufacturers ▪ Gulf Oil Lubricants India Ltd. Ministry of Road Transport and Highways ▪ ▪ Independent Lubricant Manufacturers Association ▪ Shell India ▪ © TechSci Research OICA ▪ Exxon Mobil Lubricants Private Ltd. ▪ PPAC ▪ Total Oil India Pvt Ltd. ▪ UN Comtrade ▪ 12

  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 country’s 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 country’s 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. © TechSci Research 13

  14. Sample Data - Snapshot India Industrial Lubricant Market Size, By Value (INR Billion) & By Volume (Million Liters), FY2013–FY2027F FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021E FY2022F FY2023F FY2024F FY2025F FY2026F FY2027F FY2013-FY2020 FY2021E-FY2027F By Volume (Million Litres) CAGR CAGR By Value (INR Billion) xx% By Value xx% By Value xx% By Volume xx% By Volume India Hydraulic Oil Market Share, By Packaging Size, By Volume, FY 2013 – FY 2027F FY2013 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021E FY2022F FY2023F FY2024F FY2025F FY2026F FY2027F Barrel (200 Litre and above) 20 Liters 10 Liters 5 Liters Less than and equal to 2 liters 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% India Bearing Oil Market Share, By Sales Channel, By Volume, FY 2013 – FY 2027F © TechSci Research FY2013 30.00% 50.00% 20.00% FY2014 30.00% 50.00% 20.00% FY2015 30.00% 50.00% 20.00% FY2016 30.00% 50.00% 20.00% FY2017 30.00% 50.00% 20.00% FY2018 30.00% 50.00% 20.00% FY2019 30.00% 50.00% 20.00% FY2020 30.00% 50.00% 20.00% FY2021E FY2022F 30.00% 50.00% 20.00% FY2023F 30.00% 50.00% 20.00% FY2024F 30.00% 50.00% 20.00% FY2025F 30.00% 50.00% 20.00% FY2026F 30.00% 50.00% 20.00% FY2027F 30.00% 50.00% 20.00% Direct Distributor Trader & Retailer 30.00% 50.00% 20.00% 14

  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 © TechSci Research To View Sample OR Purchase Report 15

  16. About Us & Disclaimer TechSci Research is a global market research and consulting company with offices in the US, UK and 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. Related Reports Global Aerospace Plastics Market By Polymer Type (Polyetheretherketone (PEEK), Polyphenyl Sulfide (PPS), Polycarbonate (PC), Acrylonitrile Butadiene Styrene (ABS), Polymethyl Methacrylate (PMMA), Others), By Aircraft Type (Commercial , Military), By Application ( Cabin Interiors, Flight Deck & Cockpit and Structures), By Region, Competition, Forecast & Opportunities, 2025 • Global Aromatics Market By Type (Benzene, Toluene, O-Xylene, P-Xylene, Others), By Application (Solvent v/s Additive), By End User Industry (Paint & Coatings, Adhesives, Pharmaceuticals, Chemicals, Others), By Region, Competition, Forecast & Opportunities, 2025 • TechSci Research – North America 708 Third Avenue, Manhattan, New York, United States Tel: +1- 646- 360- 1656 Email: sales@techsciresearch.com www.techsciresearch.com TechSci Research – Europe 54, Old brook, Bretton, Peterborough, United Kingdom Email: sales@techsciresearch.com www.techsciresearch.com TechSci Research – Asia-Pacific B – 44, Sector – 57, Noida, National Capital Region, U.P. - India Tel: +91-120-4523900 Email: sales@techsciresearch.com www.techsciresearch.com Disclaimer The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and firsthand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.

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