Press release
Turbine Oils Market to Witness Study Growth through 2027
Turbine oils are high quality oils with excellent water-separating properties. These oils are primarily used as lubricants for turbine applications such as steam, hydro, and gas turbine applications.Turbine oil formulations are comparatively simple. These are a mixture of the following ingredients: Base oil, corrosion inhibitors, oxidation inhibitors, defoamants, and demulsifiers.
Conventional turbine oils were mineral based, and were maintained to eliminate external contamination & oxidation products
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Key Drivers of Turbine Oils Market:
Rise in demand for electricity across the globe has resulted in increase in need for installation of new gas, steam, and hydroelectric power turbines. This is the major factor driving the turbine oils market.
The turbine oils market is also driven by factors such as rise in investments in wind energy and favorable government initiatives and policies. Policy interventions by several countries, such as Nationally Determined Contributions (NDCs) and Sustainable Development Goals (SDGs), are presently creating high demand for renewable energy worldwide.
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Major manufacturers of turbines, such as General Electric and Siemens Gamesa Renewable Energy S.A., have been investing significantly in the development of advanced turbines, which, in turn, is expected to drive the demand for turbine oils
Besides, turbine oils have been finding multiple applications as lubricants. Several manufacturers have been promoting the use of turbine oils for a diverse range of applications, such as air compressor, vacuum pump, and bearing. These factors are expected to contribute significantly to the expansion of the turbine oils market at a global level.
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