According to the new market research report by IndustryARC titled “Turbine Oils Market By Type (Paraffinic, Naphthenic, Aromatic, Motor, Hydraulic, Automotive, Others) Application (Gear,
Turbochargers, Marine Engines, Refrigeration systems, Hydraulic systems, Power Generation, Others) & By Geography-Forecast (2018-2023)”, the market is driven by rising industrial activities and the demand for efficient machinery.
Americas dominates the Turbine Oils Market
Americas will dominate the Turbine Oils Market during the forecast period. It is expected to generate $4,917.79 million at a CAGR of 3.30%. It is expected to generate $5,155.58 million by 2023 at a CAGR of 3.30%. The US has the largest share in turbine oils followed by Canada. The turbine oils are used to lubricate the hydroelectric turbines in the electric power generation industry, marine, and aircrafts. Turbine oil is also used in wind energy generation industry. Brazil is also a major end user of turbine oils due to the growing use of wind turbines in the region. The development of the marine industry in the US also drives the Turbine Oils Market in Americas. Increasing offshore oil and gas production along the Gulf of Mexico will drive the growth of the North America turbine oils market.
Selected Analysis done in the full Report:
The gas turbines segment dominates the Turbine Oils Market. In 2017, this segment generated revenue of $ 4,550 million. It is expected to reach $5,745.94 million by 2023 at a CAGR of 3.39%. In the aviation industry, the gas turbines are used as they have less moving parts and need not be maintained. The gas turbines use a single lubricating system for heavy frame gas turbines. They use mineral oils for lubrication, but can also use full synthetic oil in some cases. For higher temperatures, high viscosity oil is used to prevent the thinning of oils due to the heat. Selection of the correct type of oil for gas turbines is important as it gives a longer life to the system. Gas turbines are used in ships, trains, tanks, and electric generators.
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Excerpts on Market Growth Factors
- Turbine oil is used to lubricate the wind turbines, since lubricants are essential to ensure that the machine works well.
- Turbine oils are used in inside and outside turbine engine environment to provide smoother operations and longer service life of the engine.
- Low eco toxic turbine oils give a better performance and are safe to use.
- Growth of automation and aviation industry leads to more demand for turbine oils.
- Increase in pneumatic applications will drive the demand for turbine oils.
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Key players of the Turbine Oils Market
Royal Dutch Shell PLC and Total SA are the dominant players in the Turbine Oils Market. Royal Dutch Shell deals with synthetic and mineral based turbine oil products. The company provides many types of turbine oils. Total SA manufactures AEROTURBINE 331 which is used for lubrication of aviation turbine engines.
Turbine Oils Market is segmented as below
Growing industrial activities will enhance the growth of the Turbine Oils Market in the coming years.
A. Turbine Oils Market By Types Of Oil
1. Gas Turbines
2. Steam Turbines
3. Hydraulic Systems
4. Air Compressors & Vaccum Pumps
B. Turbine Oils Market By End User Industries
5. Energy and Power
C. Turbine Oils Market by Geography (covers 28+ countries)
D. Turbine Oils Market Entropy
Companies Citied / Interviewed
1. LUKOIL LUBRICANTS COMPANY
2. CHEVRON USA INC.
3. ROYAL DUTCH SHELL PLC
4. FUCHS LUBRITECH GMBH
5. EXXON MOBIL CORP.
6. EASTMAN CHEMICAL COMPANY
7. TOTAL S.A.
8. HINDUSTAN PETROLEUM CORPORATION
9. LUBRICATION ENGINEERS, INC.
11. Company 15+
- Gas Turbines Market
- Lubricant Additives Market
What can you expect from the report?
The Turbine Oils Market is Prepared with the Main Agenda to Cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
Frequently Asked Questions:
Q. Does IndustryARC publish country or application based reports in Turbine Oils Market segment?
Response: Yes, we do have separate reports as mentioned below:
1. Turbine Oils Market (2018-2023)
2. North America Turbine Oils Market (2018-2023)
3. South America Turbine Oils Market (2018-2023)
4. Europe Turbine Oils Market (2018-2023)
5. Asia Pacific Turbine Oils Market (2018-2023)
6. Middle East & Africa Turbine Oils Market (2018-2023)
7. Aviation Turbine Oils Market (2018-2023)
8. Automotive Turbine Oils Market (2018-2023)
9. Industrial Turbine Oils Market (2018-2023)
Q. Does IndustryARC provide customized reports and charge additionally for limited customization?
Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
- Increase the level of data in application or end user industry.
- Increase the number of countries in geography chapter.
- Find out market shares for other smaller companies or companies which are of interest to you.
- Company profiles can be requested based on your interest.
- Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.
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