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Oil & Gas Lubricants Market Size, Share - Global Industry Trend and Forecast 2017 - 2025
The objective of this report is to define, describe, and forecast the market on the basis of type, application, medical condition, and region. It provides detailed information regarding the major factors influencing the growth of the market. This report also tracks and analyzes competitive developments of the key players in terms of market developments, product portfolios, and financials.Acute Renal Failure Market: Industry Size, Share, Growth, Forecasts.
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Oil & gas lubricants: Market Overview
Oil and gas exploration is an industry where machine dependability is crucial. If the machinery stops drilling, the turnover (profit) stops. Both onshore and offshore oil and gas exploration operate in remote locations. Even an hour of downtime is likely to be very expensive and the repair costs are very high too. These factors make the utilization of a reliable lubrication system essential. Employing the correct maintenance program, correct lubricant, and lubrication equipment can potentially save millions of dollars in terms of revenue.
Vibration, mechanical stress, contamination, and moisture are all threats to any machine in the oil & gas industry. All the moving parts in the equipment’s need lubrication to function optimally. Lubricating oils (engine oil, gear oil, and hydraulic oils) offer solutions for drilling operations (for crude oil and natural gas extraction). They protect the equipment from an array of challenges like friction, high temperatures, adulteration from water, leaking oil, slurry and froth formation, and oxidation due to moisture. Excessive grease can cause additional issues and difficulties. These challenges result in maintenance downtime which is undesirable. The downtime is due to decreased engine life, lack of lubrication and replacement of parts. All of these leads to decrease in production. Use of proper lubricants allows the equipment’s to run without maintenance downtime thus increasing its operational productivity.
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Oil & gas lubricants Market: Dynamics and Trends
It is advisable to utilize clean lubricant in an equipment rather than employ technology to remove water, particulate matter, and other contaminants. This is easier and cost-effective. The way to prevent and eliminate contamination is a comprehensive lubricant reliability program that includes the right lubricants, suitable dependability tools, and training for key personnel involved in the operational activities. The common advantages achieved from the usage of right lubrication for a particular equipment are: reduced friction and protection from wear, oil and water separation, long seal life, foam and sludge elimination, reduced operating temperatures and working stresses, and significant reduction in replacement of bearings.
The oil & gas industry is a diverse industry with multiple heavy equipment and machinery in usage. There is no ‘one for all’ lubrication approach. Therefore, the lubricants possess qualities such as high durability and water and corrosion resistance. Modern equipment have a separate lubricating reservoir, wherein the equipment can be kept up to 12m away. This approach enables easy changing of lubricants without any maintenance downtime, thus increasing operational productivity.
Oil & gas lubricants Market Segmentation
In terms of lubricant type, the oil and gas lubricants market can be segmented into diesel engine oils, greases, hydraulic fluids, compressor oils, and others (gear lubricants, natural gas engine oils, etc.). In terms of end-user, the Oil & gas lubricants market can be segmented into onshore & offshore drilling, FPSO (Floating Point Storage and Offloading), production (offshore and onshore), refining, and others (transmission & well services). In terms of region, the global Oil & gas lubricants market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
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Oil & gas lubricants Market: Key Players
Key players operating in the global Oil & gas lubricants market include Lubrication Engineers, Inc., Exxon Mobil Corporation, Klüber Lubrication, and Chevron.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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