PUBLISHER: Grand View Research | PRODUCT CODE: 1493379
PUBLISHER: Grand View Research | PRODUCT CODE: 1493379
The India lubricants market size is expected to reach USD 9.70 billion by 2030, expanding at a CAGR of 4.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing demand for lubricants from automobile and manufacturing industries is driving the industry growth.
Lubricants are growing in demand for use in the aerospace and automobile industries. Motul India announced campaigns for launch of their new synthetic engine oils for improved engine performance. The campaign not only provides information about benefits of new engine oil but also increases awareness regarding engine maintenance.
Companies like TotalEnergies are investing in the development of lubricant fluids specifically for electric vehicles with growing demand for electric vehicles in the market. Indian automobile market recorded 1.5 million electric vehicles sales in 2023, with growing popularity for electric vehicles in the market, lubricant manufacturing companies have growing opportunities to manufacture greases, brake fluids, and battery coolants specialized for electric vehicles.