Scope of the Study
Turbine Oil is a highly refined mineral oil, mixer of base oil, corrosion inhibitors, oxidation inhibitors, defoamants, and demulsifiers. The turbine oil market is expected to grow exponentially during the forecast period owing to the increasing concern related to carbon emission and demand for electricity increases the installation of turbines. In addition, major manufacturers of turbines focusing on the development of advanced turbines boosting the demand for turbine oil in the future. Moreover, due to its good oxidation stability and high viscosity index, it is used as a lubricant in general industrial machines and compressors.
The market study is being classified by Type (Mineral Lubricants (Paraffinic Oils,Naphthenic Oils,Aromatic Oils) and Synthetic Lubricants (Engine Oils,Motor Oils,Bio-Based Lubricants)), by Application (Gear, Turbochargers, Marine Engines, Refrigeration Systems, Hydraulic Systems, Power Generation and Others) and major geographies with country level break-up.
Chevron Lubricants (United States), Shell (Netherlands), Exxon Mobil (United States), Sinopec (China), Alexis Oil (United States), Eastman Chemical (United States), Cargill (United States), Lubrication Engineers (United States), British Petroleum (United Kingdom) and Lubrizol (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Castrol (United Kingdom), Exol Lubricants (United Kingdom) and LUKOIL (Russia).
Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Turbine Oil market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Turbine Oil market by Type, Application and Region.
On the basis of geography, the market of Turbine Oil has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Concern about Environmental Pollution such as Carbon Emissions
- Increasing Demand for Electricity Follows the Installation of New Power Turbines
- Development of Bio-Lubricants
- Increasing High Investment in the Development of High-Efficiency Gas Turbines
- Rising Demand for General Industrial Machines and Compressors Due to Its Good Oxidation Stability and High Viscosity Index
- Availability of Substitutes in the Market
Key Target AudienceTurbine Oil manufacturer, Turbine Oil Suppliers/Distributors, Raw Material Suppliers and Oil and Gas Industry
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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