Indian Industrial Lubricants Market: Budding OEMs Investment in Oil and Gas Industry

Increased investments in the oil and gas industry will ensure the prosperity of the Indian industrial lubricants market, reassures a new business intelligence from IndustryARC. As per the evaluations of the analyst, the Indian industrial lubricants market size was around $4.68 billion in 2018, and is set to grow with a healthy CAGR of nearly 4.6% over the forecast period 2019-2025. The report is titled: “Indian Industrial Lubricants Market: By Type (Gear, Compressor, Hydraulic, Turbine, Metal Working Lubricants & Others), By Application (Automotive, Marine, Power Generation, Chemicals, Food Processing, Textiles & Others) & By Geography – Forecast (2019-2025).”

According to a research analyst estimation, the automotive and oil & gas applications are growing at a faster rate that is with a profitable CAGR of around 7% during the forecast period 2019-2025. As industrial lubricants cope up with the technological innovations to enhance the productivity in the automotive industry and also to reduce adverse environmental effects. Day-to-day developments in industrial lubricants support the equipment to run with greater efficiency and superior reliability. Uninterrupted demand for these lubricants to enhance the longevity of critical automotive components is fuelling the growth of automotive applications in the Indian industrial lubricants market. Growing usage of industrial lubricants to improve the optimal functionality of a mechanical system, and also moving parts in compressors, generators, pumps, fans, blowers, shakers, cranes, thrusters, valves, in the oil & gas industry, in addition to this it plays a crucial role in avoiding system failures. India is the third largest energy consumer in the world. According to the India Brand Equity Foundation organization, demand for primary energy rises in India and it is estimated to reach 1,516 million tonnes of oil by 2035. Increasing number of investments by OEMs are driving the robust growth of oil and gas industry in India.

Lubricant is a combination of 90% base oils and 10% additives. Hydrogenated polyolefins, esters, silicones, and fluorocarbons are some of the vegetable oils which are used as base oils. Additives offer upgraded viscosity index, reduced friction and wear, amplified viscosity; and resistance to corrosion and oxidation. Industrial lubricants protect equipment and provide advanced operation in low or high temperatures, wet environments, even under high loads. These lubricants offer non-stop protection to the engine of the bike. Different type of lubricants is used in bikes, cars, trucks, buses and in other transport systems to ensure safety along with increased sustainability through their operations. Newly developed lubricants support the low emission diesel engines and also in extending the engine life cycle. Widespread applications of these lubricants across various industry verticals such as automotive, energy, mining, marine, textiles, food processing, chemicals, paper processing and metal working processes is boosting the growth of Indian industrial lubricants market. 

Some of the key strategic players involved in the Indian industrial lubricants market are Gulf Oil Lubricants India., Indian Oil Corporation Ltd., Castrol (BP Plc)., Hindustan Petroleum Corporation Limited., and Veedol.

Industrial Lubricants Market: By Type (Gear, compressor, hydraulic, turbine, metal working, bearing, coolants, penetrating oils); By compound (fluids, greases, oils); By applications (air compressors, bearings, food machinery, gas engines, gears, hydraulics, machining, turbines, power generation); By end-user Industry (automotive, aerospace, military, marine, chemicals, food processing, textiles, railroads, construction, agriculture, timber and logging); By Geography - Forecast (2018-2023)