The Indian Two-Wheeler Market Charges to Sustainability
By Milind Phadke and Hareesh Nalam, Kline Energy
Market developments in India point to rapid electrification of the two-wheeler vehicle parc. Why is this happening, and what does it mean for the motorcycle oil (MCO) market? In this article, we will try to answer these questions.
The Indian lubricants market is the third-largest in the world. Within it, MCO account for 9% of total demand, making it the third-largest product category behind process oils and heavy-duty motor oils (HDMO). Among all lubricants product categories, MCO was one of the least impacted by the COVID-19 pandemic and one of the fastest to recover. According to current estimates, the MCO market is growing at 3.7% per year, making it one of the most attractive product segments for lubricants marketers. Growing electrification will change that and create new challenges for market participants...