Turbine oils market was valued at $ 1311 million in 2020. This market is anticipated to see an upsurge during the forecast period i.e. 2020-2025 and is expected to grow at a CAGR of 3.9 %. Aviation holds the largest market size in end user segment of Turbine oils globally, followed by automobile end use segment. India’s civil aviation industry is on a high-growth trajectory. Turbine Oils Market demand strongly indicates that India would become the third-largest aviation market by 2020 and the largest by 2030.
APAC and the Americas have witnessed significant growth in renewable energy with the global share rising to more than 65% of the market in 2020. Our research report on some of the key factors affecting the market growth gear lubricants include, huge foreign investments pouring into the industrialization sector of BRICS, coupled with the parallel demand for energy efficient industrial gear lubricant in these countries.
What are Turbine Oils?
Primarily turbine oil was designed for use in turbines, but with the development in chemical techniques it has now evolved into rust and oxidation inhibiting oil, which provides long service life with the use of conventional filters. Maintenance professionals are challenged with implementing tactics that enhance equipment performance with respect to lengthy periods of time in service, such as high temperatures, water contamination. Turbine oil is a high quality mineral oil with an excellent capacity of water separation Turbine oil formulations are a mixture of base oil (97%), corrosion inhibitors, oxidation and rust inhibitors, defoamant, and demulsifiers.
What are the major applications for Turbine Oils?
Turbine oils are found in various applications in power plants, gas turbine lubrication, excavators, hydro turbines, generators, governors, down-hole water pumps, forestry and logging equipment, water and wastewater treatment plants, paper mills, elevators and forklifts due to properties like high corrosion and oxidation inhibition and foam. R&O inhibited turbine grade oils is recommended by numerous manufacturers of industrial gear for steady loads between 50°F. (10°C.) And 150°F. (66°C.) For enclosed helical, herringbone, straight bevel and spur gears. In varied applications where hydraulic oils, air compressor and vacuum pump oils, general shop lubricants, bearing lubricants, heat transfer oils, etc. are used some manufacturers recommend turbine oils or turbine grade oils for proper functioning.
Market Research and Market Trends of Turbine Oils Ecosystem
- To provide exceptional performance in continuously evolving turbine equipment designs the lubrication manufacturers are continuously working with OEMs to ensure highly calibrated product offerings. In the development of products evolving designs and functioning conditions is a key input to the application of the lubricant technology that expected to provide the performance demanded by users.
- Higher power output designs, which lead to greater thermal stress on the lubricants, have been a general trend over the years. Resisting thermal degradation is one of the vital properties concentrated for modern gas turbine oil lubricant. For exceptional oil life and deposit control and resistance to thermal and chemical degradation, as well as for the balance the performance features manufacturers are using specific additives that maximize the benefits of the synthetic base oils.
- Siemens acquired Rolls-Royce Energy’s aero-derivative gas turbine and compressor business recently. Siemens has now rounded out its extensive portfolio for gas turbines after acquiring resources for manufacturing from Rolls Royce. Their high power density makes these machines popular in offshore applications. In Lake Charles, Louisiana, four industrial Trent 60 turbines would be used as drives in each of three compressor trains for liquefying natural gas.
- The main challenge faced by gas turbine lubrication manufacturers is to offer sustained performance while being exposed to high temperatures. The challenge prevailed in the contemporary phase of gas turbine lubricant formulator market can only be altered by machineries with exceptional thermal stability and oxidation resistance to operate in severe operating conditions. Range of Priolube™ branded esters possesses the performance capability to withstand high temperatures and also offers significant benefits including ester base oil and lubricity additive.
- Many companies have now started to provide different options and kits for testing that can be utilized in-house to determine the level of oxidation in the turbine oil, analyze the particles in the oil and even detect the moisture content within the oil. The increasing demand for lubricant fluids at the reservoir level has resulted in a strain on system power outputs, working pressures, internal temperatures and oil service life. The higher demands also have led to an increase in long-term clean performance, as well as a decrease in the working clearances.
Who are the Major Players in Turbine Oils market?
The players profiled in the report include Lukoil Lubricants Company, Chevron USA Inc., RoyalDutch Shell Plc., FUCHS Lubritech GmbH, Exxon Mobil Corporation, Shell India, Eastern Petroleum Pvt. Ltd., Klüber Lubrication NA LP, Penrite Oil Company, Paras Lubricants Limited.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2020-2025.
Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
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