Automotive Lubricant Sales in India to Spike at 9% CAGR
Growing
sales and expanding automobile fleet to drive India automotive lubricants
market through 2022
According to
TechSci Research report, “India
Automotive Lubricants Market By Vehicle Type, By Lubricant Type, By Base
Oil, By Demand Category, By Sales Channel, Competition Forecast &
Opportunities, 2012 – 2022”, automotive lubricants market in India is
projected to grow at a CAGR of 9% on account of is forecast to reach $ 9.6
billion by 2022, on account of rising vehicle sales and expanding automobile
fleet in the country. Additionally, increasing awareness among consumers
regarding use of lubricant, entry of newl, efficient and innovative lubricant products
offering increased efficiency, coupled with increasing government focus on ‘Automotive
Mission Plan 2016-2026’ and ‘Make in India’ initiatives is expected to further
boost demand for lubricants during the forecast period.
Browse 22 market data Tables and 114 Figures spread through 145
Pages and an in-depth TOC on "India Automotive Lubricants Market”
https://www.techsciresearch.com/report/india-automotive-lubricants-market-by-vehicle-type-passenger-car-etc-by-lubricant-type-engine-oil-grease-etc-by-base-oil-mineral-oil-bio-based-fluid-synthetic-oil-by-demand-category-oem-vs-replacement-forecast-opportunities/1130.html
Relaxation in customs duty applicable on the import
and export of automotive lubricants is anticipated to further fuel India automotive
lubricants market in the coming years. On the basis of base oil, the market has
been broadly segmented into synthetic, semi synthetic, and mineral oils. Among
these categories, synthetic oil is expected to register the fastest growth
during the forecast period, owing to its versatile properties such as high
performance, better viscosity at extremely high and cold temperature, and long
drainage interval.
Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=1130
Customers can also request for 10% free
customization on this report.
“Backed by growing focus of automotive lubricant
manufacturers to capitalize on the opportunities in the rural market, demand
for automotive lubricants in the country is expected to grow at a robust pace over
the course of next five years. In addition to these, increasing use of
synthetic lubricants by premium automobile owners and manufacturers points
towards a brighter future for automotive lubricants manufacturers and suppliers
in India through 2022.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“India Automotive Lubricants Market By
Vehicle Type, By Lubricant Type, By Base Oil, By Demand Category, By Sales
Channel, Competition Forecast & Opportunities, 2012 – 2022” has evaluated the future growth
potential of India automotive lubricants market and provides statistics and 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 automotive
lubricants market.
About
TechSci Research
TechSci Research is a leading global
market research firm publishing premium market research reports. Serving 700
global clients with more than 600 premium market research studies, TechSci
Research is serving clients across 11 different industrial verticals. TechSci
Research specializes in research based consulting assignments in high growth
and emerging markets, leading technologies and niche applications. Our
workforce of more than 100 fulltime Analysts and Consultants employing
innovative research solutions and tracking global and country specific high
growth markets helps TechSci clients to lead rather than follow market trends.
Contact
Mr.
Ken Mathews
708
Third Avenue,
Manhattan,
NY,
New
York – 10017
Tel:
+1-646-360-1656
Email:
[email protected]