Global Marine Lubricants Market, By Product Type (Mineral Oil, Synthetic Oil and Bio-Based Oil), Lubricant Type (System Oil, Marine Cylinder Lubricant, Trunk Piston Engine Oil and Others), Application (Diesel Engine Oil, Hydraulic Oil, Turbine Oil, Gear Oil, Heat Transfer Fluids, Compressor Oil, Grease and Others), Operation Type (Inland and Offshore), Marine Channel (Recreational, Industrial and Transportation), End Use (Oil and Gas, Cargo Ships, Tanker, Container and Others), Country(U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Marine Lubricants Market
Data Bridge Market Research analyses that the marine lubricants market will witness a CAGR of 2.51% for the forecast period of 2021-2028. Rising demand for cargo fleets and easy and abundant availability of mineral oils are the two major factors driving the growth of marine lubricants market.
Marine lubricants are used for lubricating the parts to prevent wear and tear between the contacting surfaces. Marine lubricants are biodegradable in nature and are used to protect marine equipment such as inflatable boats, out board motorboats, drill ships, semi submerged ship, tankers and others. These are manufactured in a way that they are able to resist high pressure and meet rugged performance that is required in marine applications.
Low cost operations and enhanced fuel efficiency of marine lubricants will fuel up the demand for them in the long run. Biodegradability, less toxicity and low maintenance features will further induce growth in demand for marine lubricants. Rising demand for marine transport from Asia-Pacific and Europe regions is further creating lucrative growth opportunities for the marine lubricants market. Rise and expansion of shipping industry and shipbuilding activities will further propel growth in the demand for marine lubricants.
However, a content of sulphur and nitrogen in marine lubricants is life threatening to aquatic animals. Downshift in the trading activities and rising number of inactive ships will pose a major challenge to the market growth. Rising economic instabilities in shipbuilding economies will further create hindrances for the market growth.
This marine lubricants market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on marine lubricants market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Marine Lubricants Market Scope and Market Size
The marine lubricants market is segmented on the basis of product type, lubricant type, application, operation type and marine channel. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of product type, the marine lubricants market is segmented into mineral oil, synthetic oil and bio-based oil.
- On the basis of lubricant type, the marine lubricants market is segmented into system oil, marine cylinder lubricant, trunk piston engine oil and others.
- On the basis of application, the marine lubricants market is segmented into diesel engine oil, hydraulic oil, turbine oil, gear oil, heat transfer fluids, compressor oil, grease and others.
- On the basis of operation type, the marine lubricants market is segmented into inland and offshore.
- On the basis of marine channel, the marine lubricants market is segmented into recreational, industrial and transportation. Recreational is sub- segmented into inflatable boats, in board motor boats, out board motor boats and others. Industrial is sub- segmented into drill ships and semi submerged ship. Transportation is sub- segmented into tankers, cargo ships, container ships, passenger ships and others.
- On the basis of end use, the market is segmented into oil and gas, cargo ships, tanker, container and others.
Global Marine Lubricants Market Country Level Analysis
The marine lubricants market is analysed and market size, volume information is provided by country, product type, lubricant type, application, operation type and marine channel as referenced above.
The countries covered in the marine lubricants market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the marine lubricants market in terms of market share and market revenue. This is because of the rising import and export, abundant availability of raw materials and growth and expansion in shipbuilding activities.
The country section of the marine lubricants market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Marine Lubricants Market Share Analysis
The marine lubricants market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to marine lubricants market.
The major players covered in the marine lubricants market report are Shell group of companies, BP, Chevron Corporation., LUKOIL Marine Lubricants DMCC, Exxon Mobil Corporation., Eni S.p.A., Croda International Plc, Total Group, Synforce Lubricants., Valvoline LLC, Lubricon, Bailey’s Marine Fuels, Chevron Corporation., CASTROL LIMITED, China Petrochemical Corporation., Gulf Oil, Indian Oil Corporation Ltd, PETRONAS Lubricants International ., FUCHS and Idemitsu Kosan Co.,Ltd. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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