Global Turbine Drip Oil Market is valued approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Turbine Drip Oil is a type of lubricating oil specifically formulated for use in steam turbines. Steam turbines are machines that convert thermal energy from steam into mechanical energy to generate electricity or perform other types of work. Turbine Drip Oil is designed to provide lubrication and cooling for the bearings and other rotating components within a steam turbine. These components operate at high speeds and temperatures, and proper lubrication is crucial to ensure smooth operation and prevent excessive wear and tear. The Turbine Drip Oil market is expanding because of factors such as surging utilization in aerospace sector and flourishing growth of the automotive industry..
The aerospace industry uses turbine oil extensively for aircraft gas turbine engines as a lubricant, as well as for propulsion systems, bearings, and other components. It is made up of base oil, oxidation inhibitors, corrosion inhibitors, defoamants, demulsifiers, and other additives. The desire for fuel-efficient and lightweight aircraft, as well as rising income levels, are all contributing to the aerospace industry's rapid expansion. For instance, Boeing estimates that by the year 2038, the airline industry will need more than 44,000 new commercial aeroplanes, costing US$6.8 trillion. The Aerospace and Defence Industries Association of Europe states that the military aeronautics industry in Europe have generated USD 47.4 billion in revenue in 2020, up from USD 45 billion in 2019. The use of turbine oil in aviation gas turbine engines, gear, bearings, and other components is increasing as a result of the booming aerospace output and growth potential, which in turn is boosting demand and propelling the turbine oil sector. In addition, increased environmental awareness and rising the demand for mineral-based lubricants is creating lucrative opportunity to the market. However, rise in operational and maintenance costs stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Turbine Drip Oil Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the dominance of key market players and rising aerospace industry as well as rising technological advancement in the region. Asia Pacific is expected to grow significantly during the forecast period owing to factors such as rising oil and gas industry, rising aerospace industry and rising automotive industry in the region.
Major market players included in this report are:
- Chevron UsA Inc.
- Exxon Mobil Corporation
- Shell India
- Penrite Oil Company
- Paras Lubricants Limited
- FUSCH Lubritech GmbH
- Lukoil Lubricants Company
- RoyalDutch Shell Plc.
- Eastern Petroleum Pvt. Ltd.
- Eastman Chemical Corporation
Recent Developments in the Market:
- In March 2020, EXXONMOBIL in collaboration with GE announced the launch of ADVANCED CO-BRANDED TURBINE OIL. This new technology can help operators reduce energy consumption, and, thus, the cost to produce power. The turbine oil is designed for use in multi-shaft 7HA, 9HA, 6FA.01, and 7FA GE turbines, with approval for use by GE.
Global Turbine Drip Oil Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Type, Application, Industry Vertical, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Type offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
- Traditional Grade
- Premium Grade
By Application:
- Lubrication
- Machine Oil
- Others
By Industry Vertical:
- Water Utility
- Oil & Gas
- Energy & Power
- Automotive
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Turbine Drip Oil Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Turbine Drip Oil Market, by Type, 2020-2030 (USD Billion)
- 1.2.3. Turbine Drip Oil Market, by Application, 2020-2030 (USD Billion)
- 1.2.4. Turbine Drip Oil Market, by Industry Vertical, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Turbine Drip Oil Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Turbine Drip Oil Market Dynamics
- 3.1. Turbine Drip Oil Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Surging Utilization in Aerospace Sector
- 3.1.1.2. Flourishing Growth of the Automotive Industry
- 3.1.2. Market Challenges
- 3.1.2.1. Rise in Operational and Maintenance Costs
- 3.1.3. Market Opportunities
- 3.1.3.1. Increased environmental awareness
- 3.1.3.2. Rising demand for mineral-based lubricants
Chapter 4. Global Turbine Drip Oil Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Turbine Drip Oil Market, by Type
- 5.1. Market Snapshot
- 5.2. Global Turbine Drip Oil Market by Type, Performance - Potential Analysis
- 5.3. Global Turbine Drip Oil Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
- 5.4. Turbine Drip Oil Market, Sub Segment Analysis
- 5.4.1. Traditional Grade
- 5.4.2. Premium Grade
Chapter 6. Global Turbine Drip Oil Market, by Application
- 6.1. Market Snapshot
- 6.2. Global Turbine Drip Oil Market by Application, Performance - Potential Analysis
- 6.3. Global Turbine Drip Oil Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
- 6.4. Turbine Drip Oil Market, Sub Segment Analysis
- 6.4.1. Lubrication
- 6.4.2. Machine Oil
- 6.4.3. Others
Chapter 7. Global Turbine Drip Oil Market, by Industry Vertical
- 7.1. Market Snapshot
- 7.2. Global Turbine Drip Oil Market by Industry Vertical, Performance - Potential Analysis
- 7.3. Global Turbine Drip Oil Market Estimates & Forecasts by Industry Vertical 2020-2030 (USD Billion)
- 7.4. Turbine Drip Oil Market, Sub Segment Analysis
- 7.4.1. Water Utility
- 7.4.2. Oil & Gas
- 7.4.3. Energy & Power
- 7.4.4. Automotive
- 7.4.5. Others
Chapter 8. Global Turbine Drip Oil Market, Regional Analysis
- 8.1. Top Leading Countries
- 8.2. Top Emerging Countries
- 8.3. Turbine Drip Oil Market, Regional Market Snapshot
- 8.4. North America Turbine Drip Oil Market
- 8.4.1. U.S. Turbine Drip Oil Market
- 8.4.1.1. Type breakdown estimates & forecasts, 2020-2030
- 8.4.1.2. Application breakdown estimates & forecasts, 2020-2030
- 8.4.1.3. Industry Vertical breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Turbine Drip Oil Market
- 8.5. Europe Turbine Drip Oil Market Snapshot
- 8.5.1. U.K. Turbine Drip Oil Market
- 8.5.2. Germany Turbine Drip Oil Market
- 8.5.3. France Turbine Drip Oil Market
- 8.5.4. Spain Turbine Drip Oil Market
- 8.5.5. Italy Turbine Drip Oil Market
- 8.5.6. Rest of Europe Turbine Drip Oil Market
- 8.6. Asia-Pacific Turbine Drip Oil Market Snapshot
- 8.6.1. China Turbine Drip Oil Market
- 8.6.2. India Turbine Drip Oil Market
- 8.6.3. Japan Turbine Drip Oil Market
- 8.6.4. Australia Turbine Drip Oil Market
- 8.6.5. South Korea Turbine Drip Oil Market
- 8.6.6. Rest of Asia Pacific Turbine Drip Oil Market
- 8.7. Latin America Turbine Drip Oil Market Snapshot
- 8.7.1. Brazil Turbine Drip Oil Market
- 8.7.2. Mexico Turbine Drip Oil Market
- 8.8. Middle East & Africa Turbine Drip Oil Market
- 8.8.1. Saudi Arabia Turbine Drip Oil Market
- 8.8.2. South Africa Turbine Drip Oil Market
- 8.8.3. Rest of Middle East & Africa Turbine Drip Oil Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. Chevron UsA Inc.
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Recent Developments
- 9.3.2. Exxon Mobil Corporation
- 9.3.3. Shell India
- 9.3.4. Penrite Oil Company
- 9.3.5. Paras Lubricants Limited
- 9.3.6. FUSCH Lubritech GmbH
- 9.3.7. Lukoil Lubricants Company
- 9.3.8. RoyalDutch Shell Plc.
- 9.3.9. Eastern Petroleum Pvt. Ltd.
- 9.3.10. Eastman Chemical Corporation
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption