Press release
Offshore Lubricants Market New Tech Developments and Growth by Leading International Top Key Players with its Applications, Usage and Types by 2023
The offshore lubricant is a substance that eases friction and wears at the interface of the two constituents. It helps in decreasing the abrasion by dropping the shear strength of interface. Lubrication is a process of using resources to increase the evenness of the drive of one surface over other. It helps in reducing the adhesive friction by lowering the shear strength of the interface. Lubricants can be solid, liquid or semi-liquid, and gas, or a combination of solid, liquid, and gas. Offshore machinery is used in exploration and drilling of offshore resources. These lubricants help improve reliability, efficiency and performance of offshore machinery and equipment. These lubricants improve the performance of hydraulic machinery, engines, gears, turbines and other machines. Offshore equipment improves operational efficiency and extends the life of equipment.
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Top Key Players:
The key players of global offshore lubricants market are BP plc (U.K.), Chevron Corporation (U.S.), Exxon Mobil Corporation (U.S.), Royal Dutch Shell plc (Netherlands), Total S.A. (France), Aegean Marine Petroleum (Greece), Fuchs Petrolub SE (Germany), Gulf Oil Corporation (U.S.), Idemitsu Kosan Co.,Ltd. (Japan) and JXTG Nippon Oil & Energy Corporation (Japan).
Market Segmentations:-
Global Offshore lubricants market has been segmented based on application, end-use, and region. Engine oil segment by application currently holds the largest share and is expected to hold its dominance in the offshore lubricants market during the forecast period. Engine oils are widely used in vessel engines, boat engines, and container engines. Engine oils play a crucial role in assisting engines to ideal efficiency in their output. These oils are used for speed and stoke cycle of the engines. Engine oils prevent engines from rust, wear and tear. Growing maritime activities across the globe are expected to drive engine oils demand over the forecast period. Whereas, the OSVs by end-use held the largest market share in 2016; expected to hold the largest share during the forecast period. OSVs are largely used as support systems for offshore drilling and production sectors. The increase in OSV utilization due to rising deepwater reserves exploration, and production, will lead to better maintenance, resulting in higher demand for lubricants such as engine oils, compressor oils, transmission oils, gear oils and hydraulic fluids.
Global Offshore Lubricant Market Analysis:-
Various factors drive the growth of offshore lubricant market in different regions across the globe. The major factor boosting the market growth is the growth in offshore oil & gas exploration and production activities, particularly in the Gulf of Mexico, Caspian, Arabian Sea and the Red Sea. The growth in the deep sea exploration activities across the globe is expected to remain a key driving factor for the global offshore lubricants market. Stringent regulations regarding threat to flora and fauna on account of unregulated disposal of marine lubricants, coupled with volatile petrochemicals pricing have led industry key players to develop bio-based alternatives.
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Major Points of Table Of Contents:-
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
To be continued......
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