Product Code: 66078
The market for general industrial oils is anticipated to register a CAGR of 2.15% during the forecast period 2019-2024. These oils include various types, and are engineered to enhance the performance and running cycles of different industrial machinery.
- Increasing electricity production in countries like China, India and Japan is likely to drive the market for general industrial oils. Additionally, rise in the manufacturing of food and beverage products, is in turn resulting in the increasing usage of industrial oils such as hydraulic fluids and greases.
- Usage of electric drives as an alternative to steam and gas turbines is increasing, thus lowering the usage of general industrial oils in turbines. This electrification of mechanical drives also lowers emissions and reduces environmental taxes.
- Increasing capacity of wind turbines worldwide and growing automobile production are projected to act as an opportunities for the market in future.
Scope of the Report
The general industrial oils market report includes:
Key Market Trends
Increasing Demand from Power Generation
- General industrial oils are used in steam turbines, boiler feed pumps, rod and bowl mills for power generation. Industrial oils are employed in various energy generation sectors such as coal, nuclear, solar and wind, as they help in enhancing equipment reliability and uptime.
- Industrial oils have various advantages: these oils increase coal and gas power plant's productivity, help trouble-free working in the hydroelectric sector, by making these equipment to operate at maximum efficiency.
- According to BP's statistical review of world energy, power sector is the considered as one of the biggest markets for energy, adopting over 40% of primary energy, through renewables and electrification. Renewables and nuclear power met the majority of the growth in demand, as per IEA.
- According to IEA, World electricity demand grew by 4% in the year 2018 from 3.1% in the past year, with coal and gas-fired power plants growing considerably.
- All the aforementioned factors are expected to drive the global industrial oils market during the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region dominated the global market share in 2018.
- According to OICA, with increase in motor vehicles manufacturing in countries such India, Indonesia and Japan in the year 2018, the usage of vehicles is increasing throughout Asia-Pacific region, which in turn will increase the usage of general industrial oils.
- The industrial oils market in the region is also anticipated to register the highest CAGR during the forecast period.
The general industrial oils market is fragmented in nature. In terms of market share, few of the major players currently dominate the market. Key players in the general industrial oils market include Exxon Mobil Corporation., Shell Global, Chevron U.S.A. Inc., Castrol Limited, and China Petrochemical Corporation. (Sinopec) among others.
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- The market estimate (ME) sheet in Excel format
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Table of Contents
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Rise in Electricity Production in China, India and Japan
- 4.1.2 Increase in the manufacturing of Food and Beverage Industry
- 4.2 Restraints
- 4.2.1 Usage of Electrive Drives as an alternative to Turbines
- 4.2.2 Others
- 4.3 Industry Value-Chain Analysis
- 4.4 Porters 5 Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5 MARKET SEGMENTATION
- 5.1 Product Type
- 5.1.1 Turbine Oil
- 5.1.2 Refrigeration Oil
- 5.1.3 Compressor Oil
- 5.1.4 Electrical Oil
- 5.1.5 Heat Transfer Oil
- 5.2 End-user Industry
- 5.2.1 Power
- 5.2.2 Chemicals
- 5.2.3 Metallurgy & Metal Working
- 5.2.4 Food & Beverage
- 5.2.5 Automotive
- 5.2.6 Others
- 5.3 Geography
- 5.3.1 Asia-Pacific
- 22.214.171.124 China
- 126.96.36.199 India
- 188.8.131.52 Japan
- 184.108.40.206 South Korea
- 220.127.116.11 Rest of Asia-Pacific
- 5.3.2 North America
- 18.104.22.168 United States
- 22.214.171.124 Mexico
- 126.96.36.199 Canada
- 5.3.3 Europe
- 188.8.131.52 Germany
- 184.108.40.206 United Kingdom
- 220.127.116.11 Italy
- 18.104.22.168 France
- 22.214.171.124 Rest of Europe
- 5.3.4 South America
- 126.96.36.199 Brazil
- 188.8.131.52 Argentina
- 184.108.40.206 Rest of South America
- 5.3.5 Middle East
- 220.127.116.11 Saudi Arabia
- 18.104.22.168 Iran
- 22.214.171.124 United Arab Emirates
- 126.96.36.199 Rest of Middle East
- 5.3.6 Africa
- 188.8.131.52 Egypt
- 184.108.40.206 South Africa
- 220.127.116.11 Morocco
- 18.104.22.168 Rest of Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis**
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 Lubrita
- 6.4.2 Paras Lubricants Ltd.
- 6.4.3 Apar Industries Ltd.
- 6.4.4 Eastern Petroleum
- 6.4.5 Repsol
- 6.4.6 Castrol Limited
- 6.4.7 Exxon Mobil Corporation.
- 6.4.8 Shell Global
- 6.4.9 Arabol Lubricants
- 6.4.10 Arabian Petroleum Ltd.
- 6.4.11 HP Lubricants.
- 6.4.12 Aarna Lube Pvt. Ltd.
- 6.4.13 BASF SE
- 6.4.14 Tashoil Company Pvt. Ltd.
- 6.4.15 China Petrochemical Corporation. (Sinopec)
- 6.4.16 Chevron U.S.A. Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Augmenting usage of Wind Power Energy
- 7.2 Increasing Automobile Production