About Industrial Engine Oil
Industrial engine oil acts as a lubricant for industrial engine. It lubricates the engines and hence reduces the metal contact, heat generation and friction. In addition to these functions, engine oil also performs cooling and cleaning of engine parts, sealing the gaps and prevention from rust. It is prepared from various substances such as viscosity index improvers, antioxidants, metal detergents and base oil. Engine oil is used by various industries such as power generation, heavy equipment, Metallurgy and metal working and other end use industries.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Europe Manufacturers will contribute the maximum growth to Global Industrial Engine Oil market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Shell (Netherlands), Exxon Mobil (United States), Chevron (United States), BP Global (United Kingdom), Fuchs (Germany), Total Lubricants (France), PetroChina (China), Sinopec(China), Idemitsu Kosan (Japan) and Kuwait Petroleum Corp (Kuwait) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Indian Oil (India), National Iranian Oil Co. (Iran), Pemex (Mexico) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Industrial Engine Oil market by , Application (Low speed cross head engines, Medium speed trunk piston engines and High speed trunk piston engines) and Region.
On the basis of geography, the market of Industrial Engine Oil has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Viscosity Grade, the sub-segment i.e. SAE 30 will boost the Industrial Engine Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Oil type, the sub-segment i.e. Cylinder oil will boost the Industrial Engine Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry vertical, the sub-segment i.e. Power generation will boost the Industrial Engine Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancements is Leading to Increased Engine Oil Change Intervals
Market Growth Drivers:
Functions Such as Reduced Metal Contact, Friction, and Heat Generation and Increasing Industrialization in Developing Economies
Challenges:
Limited Number of Manufacturers of Industrial Engine Oil
Restraints:
Presence of Low Priced Counterfeit Engine Oils and Fluctuations in the Prices of Raw Materials
Opportunities:
Increasing Investments Government in Various Industries
Market Leaders and their expansionary development strategies
In March 2019, Royal Dutch Shell has acquired Sonnen which is a leading manufacturer of smart residential storage systems and has the technologies for clean, decentralized and connected energy system.
In January 2024, Valvoline Global, a leading maker of lubricants, has announced the worldwide launch of its ground-breaking Restore & Protect fully synthetic premium motor oil. Valvoline has a long history going back 150 years, during which it has been a leading producer of automotive and industrial lubricants. The company claims that with continuous use, Restore & Protect is the first of its nature to remove as much as 100% of harmful engine deposits to restore engines to factory levels of cleanliness, while also preventing further deposits from forming.
Key Target Audience
Manufacturers, Raw material suppliers, Government associations, Research organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.