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Written by priyanka » Updated on: October 21st, 2024
According to TechSci Research report, “India Industrial Lubricant Market- By Region, Competition, Forecast and Opportunities, 2020-2030”, the India Industrial Lubricant Market was valued at USD 7.25 Billion in 2024 and is anticipated to grow with a CAGR of 4.28% through 2030. Companies are increasingly prioritizing operational efficiency to lower overall costs. High-quality industrial lubricants play a crucial role in this effort by enhancing machinery performance, reducing friction, and minimizing wear and tear, which results in decreased maintenance and repair costs. For instance, in July 2024, Autoz365 Lubricants, launched by Tesla Power India, introduced a new range of lubricants in Ahmedabad designed to boost fuel efficiency and provide superior engine protection. Effective lubrication is vital for preventing equipment failures and minimizing unexpected downtime, ensuring smooth and uninterrupted production processes.
Modern lubricants are engineered to reduce friction and improve machinery efficiency, thereby lowering energy consumption. This development aligns with broader industry objectives to cut energy expenses and reduce environmental impact. The focus on operational efficiency drives the creation of advanced lubricants with enhanced performance features, such as improved temperature stability and better wear and corrosion resistance. For example, in June 2024, Castrol India Limited launched the latest Castrol EDGE engine oils, tailored to meet the demands of SUVs, hybrid vehicles, and European cars, providing enhanced engine protection and performance.
The emphasis on operational efficiency often includes sustainability goals, with eco-friendly lubricants offering high performance while minimizing environmental impact. This growing focus on operational efficiency fuels the demand for industrial lubricants that improve machinery performance, reduce costs, and support sustainable practices.
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The India Industrial Lubricant Market is segmented into product type, application, end user, regional distribution, and company.
Based on the Product Type, the Metal Working Fluid emerged as the fastest growing segment in the Indian market for Industrial Lubricant during the forecast period. The increase in manufacturing activities, particularly in the automotive, aerospace, and metalworking industries, is driving the demand for metal working fluids. These fluids are crucial for essential processes like cutting, grinding, and machining within these sectors. Recent advancements in metal working fluid formulations, including high-performance and eco-friendly options, are further accelerating their adoption, meeting the evolving needs of modern manufacturing.
At IMTEX 2023, Blaser presented its Smart Automated Coolant Management System, specifically designed for metalworking fluids. This system ensures precise monitoring of coolant concentration and reliability, essential for industry operations. Additionally, Blaser introduced the LiquidTool Instructor, a revolutionary tool providing real-time analytics of key parameters such as measurement, temperature, and concentration of metalworking fluids directly on the shop floor. The growth of both the automotive and aerospace sectors is increasing the use of metal working fluids, essential for the efficient functioning of machinery used in producing parts for these industries. As demand for high-precision components rises, metal working fluids play a critical role in maintaining their accuracy and quality. The trend toward sustainable and biodegradable metal working fluids also supports market growth, aligning with broader environmental objectives and helping industries reduce their ecological impact.
Based on the region, the South India emerged as the fastest growing region in the Indian Industrial Lubricant market during the forecast period. The South region of India, particularly Tamil Nadu, Karnataka, and Andhra Pradesh, has experienced robust growth across key manufacturing sectors such as automotive, textiles, and machinery. This expansion has significantly increased the demand for industrial lubricants essential for the efficient operation of machinery and equipment. Tamil Nadu, with the highest number of factories in India, and its capital, Chennai, recognized as the largest industrial and commercial center in South India, exemplify this trend. Ongoing investments in infrastructure development, including the establishment of new manufacturing plants and industrial zones, further bolster the growth of the lubricants market by improving distribution and accessibility. Economic growth in the South, fueled by substantial investments and industrial activity, drives higher industrial output and lubricant consumption. The region’s adoption of advanced industrial technologies also necessitates specialized lubricants, which supports demand for high-performance and innovative products. As industrial operations and vehicle fleets expand, the need for lubricants to ensure the smooth maintenance and operation of machinery and vehicles continues to rise, solidifying the South as the fastest-growing region in the Indian industrial lubricants market.
Major companies operating in India Industrial Lubricant Market are:
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“India's industrial lubricants market is undergoing notable change, driven by the nation's swift industrial growth and technological advancements. The rise in sophisticated manufacturing techniques and automation is boosting the demand for specialized lubricants that improve performance and cut operational expenses. Furthermore, a focus on sustainability and adherence to regulations is steering the market towards more eco-friendly and efficient lubricant options. This evolution is not only meeting current industrial demands but also establishing India as a key player in the global lubricants sector”, said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.
“India Industrial Lubricant Market By Product Type (Metal Working Fluid, Industrial Engine Oil, Hydraulic Oil, Grease, Gear Oil, Compressor Oil, Bearing Oil and Others), By Application (Machining, Hydraulics, Gear, Bearing, Turbine, Air Compressor and Others), By End User (Power and Oil & Gas, Construction & Mining, Automotive, Metallurgy, Chemical, and Others), By Region, Competition, Forecast and Opportunities, 2020-2030”, has evaluated the future growth potential of India Industrial Lubricant Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India Industrial Lubricant Market.
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