India stands second largest in two wheeler and commercial vehicle market. Hence, it is no wonder that the Indian lubricants market stands third, only after USA and China. Indian lubricants market is both diverse and highly complex, majorly due to an urban and rural divide and Indian consumer mind-set. However, in the recent times and going forward, the market perception and acceptability is drastically changing towards high performance and branded products. Also, the level of private sector participation has facilitated end-user market penetration through efficient and sustainable means of supply chain and distribution.
Over the last few years, the India has been hit by the worst economic growth and most of the growth projections in the automotive and industry sector have gone for a toss. The lubricants industry has been badly hit due to high level of regional competition, skewed margins and low market off-take & market growth. However, with the likely change of guard at the centre in the next few months, there are strong hopes that the economy will rebound. The future looks promising, although seems to turn around gradually. The energy and infrastructure sector is expected to see the winds of change and concrete measures will boost the confidence in the economy. InfraInsights upcoming report on Indian Lubricants market aims to provide a strategic outlook on the future prospects of lubricants driven by Power, Chemicals, Mining and Automotive segments.