2013-01-16 13:18:36 - Future Growth Led by Surging lubricant Application in Automotive and Industrial Sector.
The Indian lubricants market is the fifth largest market in the world in terms of consumption volume after the US, China, Russia and Japan. Growing personal disposable incomes, improvement in road infrastructures, increasing usage of automotive transportation, rural demand, growing industrial production and support from the government are some of the factors for the growth of Indian lubricants market.
The lubricants market in India has witnessed a rapid expansion in recent years driven by increased lubricant applications in sectors such as automotive and industrial. The application of lubricants in the automotive industry dominates the Indian lubricants market followed by industrial applications in cement, coal, steel, engineering, sugar, marine, defence, railways, power and other sectors. The lubricants industry in India is
comprised of large public sector entities, private lubricant manufacturers and a gamut of small unorganized lubricant companies. The Indian lubricants industry revenues have increased from USD 1611.7 million in 2006 at a CAGR of 18.6% during FY’2006-FY’2012.
The Indian lubricants market would grow at a considerable CAGR rate thus exceeding USD 7713 million by 2017 due to the major push from the automobile market in India.
While rising disposable incomes, soaring population of automobile users and an increased industrial activity will result in increased spending on lubricants in India, steep rise in raw material prices, higher interest rates and increasing fuel prices are expected to hamper the performance of manufacturing industry, and slow down the sales of the automobile industry in the next five years.
The report “India Lubricants Industry Outlook to 2017 - Focus on Automotive Lubricants and Transforming Channel from Retail PSU's to Bazaar Trade” provides detailed overview on the lubricants market in India. This report helps reader to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, Lubricant Companies and other stakeholders to align their market centric strategies according to ongoing and expected trends in future.
For more information on the industry research report please refer to the below mentioned link: