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Global Turbine Oil Market 2017-2021

Global Turbine Oil Market 2017-2021

About Turbine Oil

Turbine oil lubricants are used in the power generation, manufacturing, and mobility industries to address the specific needs of turbine machineries. These lubricants are formulated and are specifically made for power generation turbines. Steam, gas, and hydropower power generation turbines use lubricant oils known as R&O (rust and oxidation inhibited oils). Turbine equipment characteristics such as operating cycles, geometry, operating temperatures, maintenance practices, and the potential for system contamination present specific lubricating oil demands. Turbine oils are formulated in such a way that they shed water and allow solid waste particles to settle so that they can be removed later. Most turbine oils are formulated with high levels of detergents or dispersants that can clean and carry away all the contaminants. As turbine oils are not exposed to any soot or fuel, they do not have to be replaced and drained at frequent levels.

Technavio’s analysts forecast the global turbine oil market to grow at a CAGR of 3.498% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global turbine oil market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of turbine oil.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Turbine Oil Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Castrol
  • Chevron
  • ExxonMobil
  • Royal Dutch Shell
  • Valvoline
Other prominent vendors
  • Bharat Petroleum
  • ConocoPhillips
  • Eastern Petroleum
  • FUCHS
  • Gazpromneft - Lubricants
  • Indian Oil Corporation
  • LUKOIL Lubricants
  • Petrelplus
Market driver
  • Rising awareness toward reduction of carbon emissions
  • For a full, detailed list, view our report
Market challenge
  • Political uncertainty over UK’s exit from EU
  • For a full, detailed list, view our report
Market trend
  • Positive effect of low crude oil prices
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Turbine Oil Market 2017-2021

Technavio recognizes the following companies as the key players in the global turbine oil market: Castrol, Chevron, ExxonMobil, Royal Dutch Shell, and Valvoline

Other Prominent Vendors in the market are: Bharat Petroleum, ConocoPhillips, Eastern Petroleum, FUCHS, Gazpromneft – Lubricants, Indian Oil, LUKOIL Lubricants, and Petrelplus

Commenting on the report, an analyst from Technavio’s team said: “The development of environmentally friendly lubricants is a major trend in the global lubricants market for turbine oil applications. Many vendors are focusing on bioaccumulation and ecotoxicity to reduce the adverse impacts on the environment. Ecotoxicity is the measurement of the amount of lubricants required to kill various organisms. Eurol, TOTAL Lubricants, and Renewable Lubricants are some of the companies that manufacture environmentally friendly lubricants. These bio-based lubricants degrade gradually, thus leaving minimal traces in the environment.”

According to the report, the rising awareness toward reduction of carbon emissions will drive the power generation market toward electricity generation technologies that are having less carbon emission footprint such as gas turbines, steam turbines, and hydroelectric power generation. The increasing percentage of these technologies in power generation will attribute to the growth of the turbine oil market.

Further, the report states that the turbine oil market is dependent on the marine shipping business for its sustenance. The marine shipping business in turn is dependent on the global economy for its existence. In times of strong macroeconomic numbers, the global appetite for the consumption of goods increases, thereby increasing the demand for marine shipping business to transport these goods from producers to consumers. However, the number of impediments to this growth is increasing in the current economic scenario, which might hamper the expansion of the global economy and affect the bunker oil market. One of the factors that will hinder the growth of the overall global economy will be the sustained deflation levels seen in the developed countries. The major economies that are witnessing longer durations of negative inflation include the US, Japan, and the countries in the Eurozone.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit- https://www.technavio.com/report/global-oil-and-gas-global-turbine-oil-market-2017-2021

Companies Mentioned

Castrol, Chevron, ExxonMobil, Royal Dutch Shell, Valvoline, Bharat Petroleum, ConocoPhillips, Eastern Petroleum, FUCHS, Gazpromneft – Lubricants, Indian Oil, LUKOIL Lubricants, and Petrelplus

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Key market highlights
    • Lubricant market overview
    • Turbine oil lubricants
  • Market landscape
    • Market overview
      • Table Global turbine oil market
    • Market size and forecast
      • Table Global turbine oil market 2016-2021 (MMT)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by product
    • Global turbine oil market by product type
      • Table Global turbine oil market by product type 2016 and 2021 (%)
      • Table Global turbine oil market by product type 2016-2021 (MMT)
    • Global turbine oil market by mineral oil-based lubricants
      • Table Global turbine oil market by mineral oil-based lubricants 2016-2021 (MMT)
      • Table Properties of mineral oil-based lubricants
    • Global turbine oil market by synthetic oil-based lubricants
      • Table Global turbine oil market by synthetic oil-based lubricants 2016-2021 (MMT)
      • Table Performance improvement properties of synthetic oils
  • Geographical segmentation
    • Global turbine oil market by geography
      • Table Global turbine oil market by geography 2016 and 2021 (%)
      • Table Global turbine oil market by geography 2016-2021 (MMT)
    • Turbine oil market in APAC
      • Table Turbine oil market in APAC 2016-2021 (MMT)
    • Turbine oil market in EMEA
      • Table Turbine oil market in EMEA 2016-2021 (MMT)
    • Turbine oil market in the Americas
      • Table Turbine oil market in the Americas 2016-2021 (MMT)
      • Table Total electricity generation in the US 2015 (%)
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Fossil fuel reserves 2013
      • Table World net electricity generation by fuel 2012, 2020, and 2025 (trillion kilowatt hours)
      • Table Hydropower generation by countries 2015 (% market share)
      • Table Countries with future hydropower project targets
      • Table Lubricant contamination issues in turbines
    • Impact of drivers on key customer segments
      • Table Impact of drivers
    • Market challenges
      • Table Baltic Dry Index (base year 2012=100 and data till January 2017) (USD hire paid per day)
      • Table China GDP growth 2006-2016 (%)
      • Table Natural gas price 2008-2016 (units in $ per MMBTU)
    • Impact of challenges on key customer segments
      • Table Impact of challenges
  • Market trends
    • Development of biolubricants
      • Table Properties of renewable lubricants
    • Positive effect of low crude oil prices
      • Table Global crude oil price volatility 2007-2016 ($/barrel)
    • Growth of CCPP
  • Vendor landscape
    • Competitor landscape
    • Other prominent vendors
      • Table Other prominent vendors: Global turbine oil manufacturers
  • Key vendor analysis
    • Castrol
      • Table Castrol: Key product offerings
    • Chevron
      • Table Chevron: Key product offerings
    • ExxonMobil
      • Table ExxonMobil: Product offerings
    • Royal Dutch Shell
      • Table Royal Dutch Shell: Key product offerings
    • Valvoline
      • Table Valvoline: Product offerings
  • Appendix
    • List of abbreviations
  • Explore Technavio

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