Project report for Engine oil shop
The India lubricant market is expected to register a CAGR of 4.64%, during the forecast period, 2018-2023. The major factors driving the growth of the market are the increasing vehicular production along with the growing industrial sector. Lubricants are majorly used in the industrial sector for the proper functioning of machines. They are also used in automobile for smooth functioning and longevity of engines and other components. Lubricants are available in liquid, semi-fluid, or solid state, and possess various characteristics, such as, high viscosity index, high level of thermal ...
Product / Services & process
The Main products are:. Engine Oil and Greases
Market potential & Strategy
Today it is more important than ever to maintain the value of expensive assets. A modern plant requires the optimum in lubrication or power-transmitting media. The selection of the right viscosity and the correct level of additives are of utmost importance in preventing the damage and destruction of an expensive equipment. Similarly, almost every middle class home has at least one vehicle so the requirement of lubricants is on the rise, building big market for lubricants.India industrial lubricant market stood at $ 1.28 billion in 2017 and is projected to grow to $ 1.67 billion by 2023, on ...