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Turbine Oils-Global Market Insights and Sales Trends 2024
Synopsis
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.
The global Turbine Oils market size is expected to reach US$ million by 2029, growing at a CAGR of % from 2023 to 2029. The market is mainly driven by the significant applications of Turbine Oils in various end use industries. The expanding demands from the Steam Turbines, Gas Turbines, Wind Turbines and Hydroelectric Turbines, are propelling Turbine Oils market. Mineral Oil-Based Turbine Oils, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Synthetic Oil-Based Turbine Oils segment is estimated at % CAGR for the next seven-year period.
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.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Turbine Oils, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Turbine Oils market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Turbine Oils market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Turbine Oils sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Turbine Oils covered in this report include Chevron Lubricants, Shell, Exxon Mobil, Sinopec, Eastman Chemical, Lubrizol, Exol Lubricants and LUKOIL, etc.
The global Turbine Oils market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Chevron Lubricants
Shell
Exxon Mobil
Sinopec
Eastman Chemical
Lubrizol
Exol Lubricants
LUKOIL
Global Turbine Oils market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Turbine Oils market, Segment by Type:
Mineral Oil-Based Turbine Oils
Synthetic Oil-Based Turbine Oils
Global Turbine Oils market, by Application
Steam Turbines
Gas Turbines
Wind Turbines
Hydroelectric Turbines
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Turbine Oils manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Turbine Oils in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
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.
The global Turbine Oils market size is expected to reach US$ million by 2029, growing at a CAGR of % from 2023 to 2029. The market is mainly driven by the significant applications of Turbine Oils in various end use industries. The expanding demands from the Steam Turbines, Gas Turbines, Wind Turbines and Hydroelectric Turbines, are propelling Turbine Oils market. Mineral Oil-Based Turbine Oils, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Synthetic Oil-Based Turbine Oils segment is estimated at % CAGR for the next seven-year period.
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.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Turbine Oils, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Turbine Oils market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Turbine Oils market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Turbine Oils sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Turbine Oils covered in this report include Chevron Lubricants, Shell, Exxon Mobil, Sinopec, Eastman Chemical, Lubrizol, Exol Lubricants and LUKOIL, etc.
The global Turbine Oils market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Chevron Lubricants
Shell
Exxon Mobil
Sinopec
Eastman Chemical
Lubrizol
Exol Lubricants
LUKOIL
Global Turbine Oils market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Turbine Oils market, Segment by Type:
Mineral Oil-Based Turbine Oils
Synthetic Oil-Based Turbine Oils
Global Turbine Oils market, by Application
Steam Turbines
Gas Turbines
Wind Turbines
Hydroelectric Turbines
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Turbine Oils manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Turbine Oils in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Index1 Turbine Oils Market Overview
1.1 Turbine Oils Product Overview
1.2 Turbine Oils Market Segment by Type
1.2.1 Mineral Oil-Based Turbine Oils
1.2.2 Synthetic Oil-Based Turbine Oils
1.3 Global Turbine Oils Market Size by Type
1.3.1 Global Turbine Oils Market Size Overview by Type (2018-2029)
1.3.2 Global Turbine Oils Historic Market Size Review by Type (2018-2023)
1.3.3 Global Turbine Oils Forecasted Market Size by Type (2024-2029)
1.4 Key Regions Market Size Segment by Type
1.4.1 North America Turbine Oils Sales Breakdown by Type (2018-2023)
1.4.2 Europe Turbine Oils Sales Breakdown by Type (2018-2023)
1.4.3 Asia-Pacific Turbine Oils Sales Breakdown by Type (2018-2023)
1.4.4 Latin America Turbine Oils Sales Breakdown by Type (2018-2023)
1.4.5 Middle East and Africa Turbine Oils Sales Breakdown by Type (2018-2023)
2 Global Turbine Oils Market Competition by Company
2.1 Global Top Players by Turbine Oils Sales (2018-2023)
2.2 Global Top Players by Turbine Oils Revenue (2018-2023)
2.3 Global Top Players by Turbine Oils Price (2018-2023)
2.4 Global Top Manufacturers Turbine Oils Manufacturing Base Distribution, Sales Area, Product Type
2.5 Turbine Oils Market Competitive Situation and Trends
2.5.1 Turbine Oils Market Concentration Rate (2018-2023)
2.5.2 Global 5 and 10 Largest Manufacturers by Turbine Oils Sales and Revenue in 2022
2.6 Global Top Manufacturers by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Turbine Oils as of 2022)
2.7 Date of Key Manufacturers Enter into Turbine Oils Market
2.8 Key Manufacturers Turbine Oils Product Offered
2.9 Mergers & Acquisitions, Expansion
3 Turbine Oils Status and Outlook by Region
3.1 Global Turbine Oils Market Size and CAGR by Region: 2018 VS 2022 VS 2029
3.2 Global Turbine Oils Historic Market Size by Region
3.2.1 Global Turbine Oils Sales in Volume by Region (2018-2023)
3.2.2 Global Turbine Oils Sales in Value by Region (2018-2023)
3.2.3 Global Turbine Oils Sales (Volume & Value) Price and Gross Margin (2018-2023)
3.3 Global Turbine Oils Forecasted Market Size by Region
3.3.1 Global Turbine Oils Sales in Volume by Region (2024-2029)
3.3.2 Global Turbine Oils Sales in Value by Region (2024-2029)
3.3.3 Global Turbine Oils Sales (Volume & Value), Price and Gross Margin (2024-2029)
4 Global Turbine Oils by Application
4.1 Turbine Oils Market Segment by Application
4.1.1 Steam Turbines
4.1.2 Gas Turbines
4.1.3 Wind Turbines
4.1.4 Hydroelectric Turbines
4.2 Global Turbine Oils Market Size by Application
4.2.1 Global Turbine Oils Market Size Overview by Application (2018-2029)
4.2.2 Global Turbine Oils Historic Market Size Review by Application (2018-2023)
4.2.3 Global Turbine Oils Forecasted Market Size by Application (2024-2029)
4.3 Key Regions Market Size Segment by Application
4.3.1 North America Turbine Oils Sales Breakdown by Application (2018-2023)
4.3.2 Europe Turbine Oils Sales Breakdown by Application (2018-2023)
4.3.3 Asia-Pacific Turbine Oils Sales Breakdown by Application (2018-2023)
4.3.4 Latin America Turbine Oils Sales Breakdown by Application (2018-2023)
4.3.5 Middle East and Africa Turbine Oils Sales Breakdown by Application (2018-2023)
5 North America Turbine Oils by Country
5.1 North America Turbine Oils Historic Market Size by Country
5.1.1 North America Turbine Oils Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
5.1.2 North America Turbine Oils Sales in Volume by Country (2018-2023)
5.1.3 North America Turbine Oils Sales in Value by Country (2018-2023)
5.2 North America Turbine Oils Forecasted Market Size by Country
5.2.1 North America Turbine Oils Sales in Volume by Country (2024-2029)
5.2.2 North America Turbine Oils Sales in Value by Country (2024-2029)
6 Europe Turbine Oils by Country
6.1 Europe Turbine Oils Historic Market Size by Country
6.1.1 Europe Turbine Oils Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
6.1.2 Europe Turbine Oils Sales in Volume by Country (2018-2023)
6.1.3 Europe Turbine Oils Sales in Value by Country (2018-2023)
6.2 Europe Turbine Oils Forecasted Market Size by Country
6.2.1 Europe Turbine Oils Sales in Volume by Country (2024-2029)
6.2.2 Europe Turbine Oils Sales in Value by Country (2024-2029)
7 Asia-Pacific Turbine Oils by Region
7.1 Asia-Pacific Turbine Oils Historic Market Size by Region
7.1.1 Asia-Pacific Turbine Oils Market Size Growth Rate (CAGR) by Region: 2018 VS 2022 VS 2029
7.1.2 Asia-Pacific Turbine Oils Sales in Volume by Region (2018-2023)
7.1.3 Asia-Pacific Turbine Oils Sales in Value by Region (2018-2023)
7.2 Asia-Pacific Turbine Oils Forecasted Market Size by Region
7.2.1 Asia-Pacific Turbine Oils Sales in Volume by Region (2024-2029)
7.2.2 Asia-Pacific Turbine Oils Sales in Value by Region (2024-2029)
8 Latin America Turbine Oils by Country
8.1 Latin America Turbine Oils Historic Market Size by Country
8.1.1 Latin America Turbine Oils Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
8.1.2 Latin America Turbine Oils Sales in Volume by Country (2018-2023)
8.1.3 Latin America Turbine Oils Sales in Value by Country (2018-2023)
8.2 Latin America Turbine Oils Forecasted Market Size by Country
8.2.1 Latin America Turbine Oils Sales in Volume by Country (2024-2029)
8.2.2 Latin America Turbine Oils Sales in Value by Country (2024-2029)
9 Middle East and Africa Turbine Oils by Country
9.1 Middle East and Africa Turbine Oils Historic Market Size by Country
9.1.1 Middle East and Africa Turbine Oils Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
9.1.2 Middle East and Africa Turbine Oils Sales in Volume by Country (2018-2023)
9.1.3 Middle East and Africa Turbine Oils Sales in Value by Country (2018-2023)
9.2 Middle East and Africa Turbine Oils Forecasted Market Size by Country
9.2.1 Middle East and Africa Turbine Oils Sales in Volume by Country (2024-2029)
9.2.2 Middle East and Africa Turbine Oils Sales in Value by Country (2024-2029)
10 Company Profiles
10.1 Chevron Lubricants
10.1.1 Chevron Lubricants Company Information
10.1.2 Chevron Lubricants Introduction and Business Overview
10.1.3 Chevron Lubricants Turbine Oils Sales, Revenue and Gross Margin (2018-2023)
10.1.4 Chevron Lubricants Turbine Oils Products Offered
10.1.5 Chevron Lubricants Recent Development
10.2 Shell
10.2.1 Shell Company Information
10.2.2 Shell Introduction and Business Overview
10.2.3 Shell Turbine Oils Sales, Revenue and Gross Margin (2018-2023)
10.2.4 Shell Turbine Oils Products Offered
10.2.5 Shell Recent Development
10.3 Exxon Mobil
10.3.1 Exxon Mobil Company Information
10.3.2 Exxon Mobil Introduction and Business Overview
10.3.3 Exxon Mobil Turbine Oils Sales, Revenue and Gross Margin (2018-2023)
10.3.4 Exxon Mobil Turbine Oils Products Offered
10.3.5 Exxon Mobil Recent Development
10.4 Sinopec
10.4.1 Sinopec Company Information
10.4.2 Sinopec Introduction and Business Overview
10.4.3 Sinopec Turbine Oils Sales, Revenue and Gross Margin (2018-2023)
10.4.4 Sinopec Turbine Oils Products Offered
10.4.5 Sinopec Recent Development
10.5 Eastman Chemical
10.5.1 Eastman Chemical Company Information
10.5.2 Eastman Chemical Introduction and Business Overview
10.5.3 Eastman Chemical Turbine Oils Sales, Revenue and Gross Margin (2018-2023)
10.5.4 Eastman Chemical Turbine Oils Products Offered
10.5.5 Eastman Chemical Recent Development
10.6 Lubrizol
10.6.1 Lubrizol Company Information
10.6.2 Lubrizol Introduction and Business Overview
10.6.3 Lubrizol Turbine Oils Sales, Revenue and Gross Margin (2018-2023)
10.6.4 Lubrizol Turbine Oils Products Offered
10.6.5 Lubrizol Recent Development
10.7 Exol Lubricants
10.7.1 Exol Lubricants Company Information
10.7.2 Exol Lubricants Introduction and Business Overview
10.7.3 Exol Lubricants Turbine Oils Sales, Revenue and Gross Margin (2018-2023)
10.7.4 Exol Lubricants Turbine Oils Products Offered
10.7.5 Exol Lubricants Recent Development
10.8 LUKOIL
10.8.1 LUKOIL Company Information
10.8.2 LUKOIL Introduction and Business Overview
10.8.3 LUKOIL Turbine Oils Sales, Revenue and Gross Margin (2018-2023)
10.8.4 LUKOIL Turbine Oils Products Offered
10.8.5 LUKOIL Recent Development
11 Upstream, Opportunities, Challenges, Risks and Influences Factors Analysis
11.1 Turbine Oils Key Raw Materials
11.1.1 Key Raw Materials
11.1.2 Key Raw Materials Price
11.1.3 Raw Materials Key Suppliers
11.2 Manufacturing Cost Structure
11.2.1 Raw Materials
11.2.2 Labor Cost
11.2.3 Manufacturing Expenses
11.3 Turbine Oils Industrial Chain Analysis
11.4 Turbine Oils Market Dynamics
11.4.1 Turbine Oils Industry Trends
11.4.2 Turbine Oils Market Drivers
11.4.3 Turbine Oils Market Challenges
11.4.4 Turbine Oils Market Restraints
12 Market Strategy Analysis, Distributors
12.1 Sales Channel
12.2 Turbine Oils Distributors
12.3 Turbine Oils Downstream Customers
13 Research Findings and Conclusion
14 Appendix
14.1 Research Methodology
14.1.1 Methodology/Research Approach
14.1.2 Data Source
14.2 Author Details
14.3 Disclaimer
Published By : QY Research
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