Size of the Indian lubricants market is estimated to be around USD 2.62 billion. The annual consumption stands at around 1.5 million kilo liters. India is the sixth largest lubricants market in the world with annual value growth rate of around 6-7 %.
Automotive, Industrial and Marine lubricants form the lubricant pie in the ration 60 : 35 : 5.
Products include Auto Engine Oils, Auto gear oils, Auto greases, Turbine oils, Hydraulic oils, Metal working oils, gear oils, rolling oils.
Major players include IOC, HPCL, BPCL, Castrol, TotalFina Elf, Tidewater Oil Co., Exxon-Mobil, Motul and Gulf Oil. These players are active in the automotive and industrial lubricant segment.
The marine lubricant segment primarily includes IOC, TotalFina Elf and Apar industries
There are three primary channels for sales of lubricants in India:
- Petrol pumps
- Bazaar retailers
- Direct selling
Infocost have full strength of costing professional equipped with SAP management accounting expert knowledge to help the textile industry and organizations in achieving the required cost control and optimization measures.
May it be target costing, standard costing, actual costing, activity based costing, profitability analysis, make or by decision, planning and budgeting, recovery reporting, costing sheets and many more MIS and decision making tools.
PoV of Infocost on Oil & Lubricants Industry
India has one of the lowest per capita lubricant usage rates In the world, and as such strong future growth potential.
We have vast experience in costing and management account in Oil and Lubricants industries and have developed the costing and MIS modes for such industries
Oil and Lubricants industries where we have the experience and association of working are;
- Gulf Oil India Ltd. Mumbai