This Turbine Oils market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Turbine Oils market.
Primary use of turbine oils has been as lubricants for turbine applications. Existing generation of turbine oils comprise high quality-base stocks. They possess a long anti-oxidation life, and considerably restrict rusting of the equipment even at high temperatures. Some of the turbine oils contain additives used for reduction of wear & tear, thereby contributing to longer life of the equipment. Turbine oils are oils of high quality with excellent water-separating properties. Conventional turbine oils were mineral based, and were maintained to eliminate external contamination & oxidation products. In recent times, development of environmentally friendly bio-based turbine oils are anticipated to witness relatively faster growth in penetration, especially in Europe and in North America. Also, use of bio-based turbine oils has been reported to be relatively more economical, as less concentration of oil is required as compared to conventional metalworking fluids. Also, these types of turbine oils display exceptional oxidation & thermal stability, and superior anti-wear properties. Besides, there has been an increasing focus on application of turbine oils as a substitute for rock drill and air tool lubricants for pneumatic applications. This is so because the conventionally used rock drill and air tool lubricants usually comprise high pressure material fatty oils and fatty acids which are easily oxidized and degraded. This disadvantage can be eliminated by using turbine oils, which have relatively superior properties & hence, do not adversely affect component parts, tubing & seals. Considering these important aspects of applications of turbine oils, the study of the turbine oils market becomes an important read.
Turbine Oils Market: Market Segmentation
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Turbine Oils Market: Key Trends, Drivers
In the past few years, there have been increasing concerns pertaining to reduction of carbon emissions, as a result, lubricant end users are preferring use of environmentally friendly turbine oils over that of conventional metalworking fluids. The trend is expected to continue in the future years. Besides, rising demand for electricity in regions across the globe, has resulted in increasing need for installation of new gas, steam and hydroelectric power turbines. Also, increasingly stringent regulations pertaining to carbon emissions are being implemented by various countries across the globe. These demand higher performance of turbines, which has been translating into rising demand for turbine oils from heavy engineering industry. Also, major manufacturers of turbines, such as General Electric and Siemens, have been investing substantially in the development of advanced turbines, which is expected to, in turn, drive the demand for turbine oils.
In applications where the lubricant needs to be fed into the air stream at a central point inside a plant and is displaced at some distance to numerous machines where the oil or the air mist could be exhausted inside, turbine oil has been found to be a preferential choice. This restricts harmful environmental effects as well as ensures safety of the components & personnel on the plant. These advantages have been fuelling the demand of turbine oils even further.
Furthermore, turbine oils have been finding multiple applications as lubricants. For instance, turbine oil manufacturers have been promoting the use of turbine oils for a diverse range of applications, such as air compressor, vacuum pump, bearing among other lubrication applications. Besides, turbine oils have also been finding increasing use as heat transfer oils. Also, turbine oil manufacturers have been focusing on providing customers with custom-made specifications of turbine oils designed for specific applications for higher efficiency. These factors are expected to contribute significantly to the growth of the turbine oils market at a global level.
Turbine Oils Market: Market Participants
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and product types.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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On the basis of application type, the turbine oils market is segmented as follows:
- Steam turbines
- Gas turbines
- Wind turbines
- Hydroelectric turbines
Examples of some the market participants identified across the value chain of turbine oils market are as follows:
- Exxon Mobil Corporation
- Chevron U.S.A. Inc.
- Royal Dutch Shell, Plc.
- Castrol Limited
- Total S.A
- Phillips 66 Company
- Eni S.p.A.
- Repsol S.A.
- Valvoline Inc.
- LUKOIL Marine Lubricants DMCC
- FUCHS Group
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
Frequently Asked Questions
What research methodology is used to develop the Turbine Oils Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Turbine Oils Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Turbine Oils Market report?
In addition to up-to-date market figures and customized of the Turbine Oils Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.