Competitive Landscape in India
Industrial Lubricants Market
Competition
stage in the country’s industrial lubes segment was witnessed to be moderately
concentrated along with the presence of major PSU oil marketing companies which
captured over half of the domestic consumption of industrial lubricants in India
during FY’2018. The total number of players manufacturing Industrial
Lubricants in India was
observed to be over 44 manufacturers, both PSU and private, domestic and
industrial, integrated and standalone as of 31st March 2018. Post
liberalization, the market witnessed emergence of various international as well
as domestic players owing to high growth potential of industrial lubricants in
the country. Some of the major players operating within this segment include
IOCL, HPCL, BPCL, Shell, Gandhar Lubes, Exxon Mobil, Gulf petrochem (IPOL),
Apar Industries and others. Pricing, brand value as well as marketing
strategies adopted by a particular company are considered as of high importance
in order to reach a wider target audience in India industrial lubes market.
Market Share of Major Players
Operating in India Industrial Lubes Market
PSU
OMCs including IOCL, HPCL and BPCL were observed to be the clear leaders in
India industrial lubricants market along with a collective volume share of ~%
during the FY’2018. The industrial segment includes tender-based procurement
which is dominated by these companies, thereby giving them an edge over private
players in terms of production volume.
What is the Future of Industrial
Lubricants in India?
Over
the forecasted period, India industrial lubricants market will prepare itself
to meet the future demand anticipated to emerge from the substantial investment
proposed in key lubricating segments such as synthetic & semi-synthetic
lubricants and bio-based lubricants along with emerging new industrial uses.
The “Make-in-India” initiative launched by the Indian government on September
25th, 2014 with the primary goal of making India a global manufacturing hub, by
encouraging both multi-national and domestic companies to manufacture their
products within the country. In accordance with the DIPP, the initiative aims
to raise the contribution of the manufacturing sector from ~% in 2014 to ~% of
GDP by the year ending 2025. Additionally, it targets ~ sectors of the Indian
economy which ranges from auto and auto components / automobile industry to the
IT-BPO industry. In terms of revenues, the market is expected to reach a total
of USD ~ million by the year ending FY’2023E from USD ~ million in FY’2018,
thus growing at a CAGR of ~% over the forecast period FY’2018-FY’2023E. On the
other hand, in terms of sales volume, the market is further anticipated to
generate ~ million litres by the year ending FY’2023E.
Stabilization
of Index of Industrial Production (IIP) in FY’2018 signified favorable growth
in the production of industrial products, thereby creating a positive impact on
the demand for industrial lubes in the near future. Strengthening of the
industrial recovery after facing events such as introduction of GST and
demonetization in the country from multiple campaigns such as “Smart Cities”
could improve the demand of industrial lubricants over the long term.
High
quality lubricant types such as synthetic and semi-synthetic lubricants that
can sustain extreme temperature and pressures, reduces friction and have high
viscosity and grades are generally preferred by end users. India has been
emerging as one of the leading producers of key industrial ores and minerals.
With more equipment being put into action, the higher will be the demand for
industrial lubricants for efficient and productive operation of mining equipment
as they are used under extreme temperature/pressure conditions which would
require regular lubrication.
Key Segments Covered:
By Origin
Mineral
based Lubricants
Semi-Synthetic
Lubricants
Synthetic
Lubricants
By Type of Industrial Lubricants
Hydraulic
Oil
Metal
Working Fluids
Industrial
Gear Oils
Turbine
Oils
Compressor
Oils
Industrial
Greases
Others
(Synthetic gear lubricants, synthetic EP gear lubricants, synthetic polyglycol
gear lubricants, compound gear lubricants, and food grade gear lubricants)
By Industrial End Use
Construction,
mining and off-highway equipment
Iron
and non-iron production
General
manufacturing, textile & chemicals
Engineering
equipment
Automotive
sector
Power
generation
Cement
Others
(plastic, paper and pulp and steel)
By Type of Distribution Channel
Direct
Sales
Dealer
Network
By Regional Sales
North
South
East
West
By Basis of Packaging
Barrels,
Drums and Tanker load
Smaller
Packs
Key Target Audience:
Plastic
Manufacturers
Metal
Working Companies
Auto
and Auto Component Manufacturers
Construction
Companies
Textile
Companies
Cement
Companies
Mining
Companies
Paper
and Pulp Manufacturers
Power
Generation Companies
Steel
Manufacturers
Food
& Beverage Companies
Time Period Captured in the Report:
Historical Period – FY’2013-FY’2018
Forecast Period – FY’2018-FY2023E
(FY
refers to fiscal year ending 31st March of every year; E refers to Estimated
Numbers)
Companies Covered:
Indian
Oil Corporation Limited
Hindustan
Petroleum Corporation Limited
Bharat
Petroleum Corporation Limited
Shell
India
Gandhar
Lubes
Exxon
Mobil
Raj
Lubricants
Gulf
Petrochem (IPOL)
Apar
Industries
Balmer
and Lawrie
Castrol
Total
(Company)
Savita
Oil
Valvoline
cumins
GS
Caltex
Gulf
Oil Lubricants
Veedol
Lubricants (Tide Water Oil)
Others
(Universal Halwasiya Group – UHG, Chemoleum, Fuch, Kluber, Starol and remaining
local manufacturers)
For more information on the research
report, refer to below link:
Related Reports
Contact Us:
Ken
Research
Ankur
Gupta, Head Marketing & Communications
+91
9015378249
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