India’s engine lubricants market expected to rise

The increase in new construction equipment should have a beneficial effect on the future of the engine lubricants market in India, according to industry experts. Sanjay Jain, state institutional sales manager for Indian Oil Corp. says, “The demand of engine lubricants in India is essentially led by two demand areas from the construction equipment sector. The first one is from new equipment that are being brought by contractors whereas the second one is a major existing market for engine oils in the country. The market constitutes big fleet owners as well as single equipment owners especially from the rental fraternity. The aftermarket has attained critical importance led by its sustained demand, ensuring high equipment up time by the contractors and equipment providers.” The current engine lubricants market in India is 1.8 million tons. Future projections for the market estimate it at 2.2 million tons by 2014-2105. (July 12, 2011)