Industrial lubricants market to reach $20,715 million by 2033

According to a report by Custom Market Insights, the Indian industrial Lubricants Market was valued at USD 13,045 million in 2024 and is expected to reach USD 20,715 million by 2033, at a CAGR of 4.12% during the forecast period 2024 – 2033.

According to a report by Custom Market Insights, the Indian industrial Lubricants Market was valued at USD 13,045 million in 2024 and is expected to reach USD 20,715 million by 2033, at a CAGR of 4.12 percent during the forecast period 2024 – 2033.

Industrial lubricants play a vital role in various end-use industries, such as agriculture, automotive, cement production, chemical production, construction, food processing, marine applications, metal and mining, oil and gas, power generation, and pulp and paper. Lubricants are used in engines, transmissions, differentials, and various other components in these industries.

Lubricants’ excellent chemicals and physical properties make them ideal additives and lubrication materials in various end-use applications, thereby driving market growth.

India industrial lubricants market 2024–2033 (by sales channel)

Growing utilisation of industrial lubricants in the power generation and electricity distribution sector is expected to create lucrative opportunities for Industrial lubricant manufacturers during the forecast period. Rapid growth and development in power generation and distribution have driven the demand for transformer oils.

Furthermore, growing demand for sustainable Industrial lubricants is expected to create lucrative opportunities during the forecast period. In an era of environmental consciousness, the lubricants industry is making strides towards sustainability. Industrial lubricant manufacturers are turning to sustainability measures such as reusing and recycling industrial lubricants.

Moreover, lubricant manufacturers are offering their end users on-site and off-site recycling equipment and services. With concerns about greenhouse gas emissions and environmental impact, the growing demand and production of bio-based lubricants is expected to create lucrative opportunities for the market during the forecast period.

India industrial lubricants market 2024–2033 (by base oil)

Product type, base oil, the end-user, sales channels and by region segment India’s Industrial Lubricants market. By Product Type, India’s Industrial lubricants market is segmented into hydraulic fluids, metalworking fluids, gear oil, compressor oil, grease, turbine oil, transformer oil, refrigeration oil, textile machinery lubricants, etc.

The market is segmented by sales channel into offline and online sales channels. Of these, offline held the highest market share in 2023 and is expected to maintain its dominance during the forecast period. Offline sales channels include supermarkets/hypermarkets, retail stores, and speciality stores.

A growing number of supermarkets/hypermarkets and retail stores across India are expected to drive market growth in this segment during the forecast period. Online sales channels include third-party websites and company-owned websites.

Growing internet penetration, increasing number of E-commerce platforms, and alluring discounts offered by these E-commerce platforms are some of the factors driving the market growth of this segment during the forecast period.

Regional analysis of Indian industrial lubricants market

Indian Industrial Lubricants market is segmented into North India, South India, East India, and West India. Among all these regions, North India held a significant market share of India Industrial Lubricants Market in 2022 and is expected to grow significantly during the forecast period.

Rapidly expanding end-use industries such as construction, mining, chemical, automotive, oil and gas, and manufacturing in northern states such as Delhi NCR, Uttar Pradesh, Punjab, J&K, Bihar, and Haryana are driving the market growth of this region.

West India is expected to emerge as a potential region during the forecast period. States like Maharashtra, Gujarat, and Madhya Pradesh are playing a major role in driving the growth of this region. Rapidly developing chemical, solar, and manufacturing industries in Maharashtra and Gujarat are driving the market growth of this region.