Global Offshore Lubricants Market to Exhibit 7.07% CAGR from 2014 to 2020
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Transparency Market Research has published a new market study on the global offshore lubricants market that delves into the developments in this market from 2014 to 2020. The report provides a detailed overview of trends, opportunities, and product innovation that will mark the growth of this market during the forecast period. According to the report, the global offshore lubricants market stood at US$110.9 mn in 2013. Registering a CAGR of 7.07% from 2014 to 2020, this market is expected to reach a valuation of US$183.5 mn by the end of 2020. The title of this report is “Offshore Lubricants Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020.”
Lubricants are used to ensure proper functioning of various machines. They are used to reduce wear and tear and friction in the functional components of machines. Lubricants impart properties such as high viscosity index, prevention against corrosion, thermal stability, high boiling point, low freezing pint, and high resistance to oxidation.
Increasing investments in offshore oil and gas explorations, which includes shale gas exploration as well, are the major factor driving the global offshore lubricants market until the end of the forecast period. Moreover, large-scale governmental undertakings for the development of deepwater and ultra-deepwater oil and gas wells will open tremendous opportunities for companies involved in the offshore lubricants market. However, environmental concerns associated with the use of certain lubricants will restrain the market’s growth.
By end use, the report segments the global offshore lubricants market into offshore rigs and floating production storage and offloading (FPSO). In 2013, offshore rigs held a revenue share of more than 70% in the global market. Nevertheless, in the 2014-2020 period, FPSO will display faster growth in the overall market.
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The research report segments the global market into the application segments of gear oil, engine oil, grease, hydraulic oil, and others (circulating oil, compressor oil, and turbine oil). Of all, in 2013, engine oil led the market and accounted for a share of more than 60% in the global market. The report segments this market into the regional segments of Asia Pacific, the Middle East, North America, Europe, and Rest of the World. The regional segment of the Rest of the World dominated the market in 2013; the region held a revenue share of more than 28% in the global offshore lubricants market. Increasing investments in large-scale projects for the development of offshore reserves in Brazil and West Africa are the reason for this.
Key players in the global offshore lubricants market are Royal Dutch Shell plc, Gulf Oil Marine Limited, BP plc, ExxonMobil Corporation, Chevron Corporation, Lukoil Oil Company, Sinopec Limited, and Total S.A. The report also includes a snapshot of business expansion strategies of top players aimed at maintaining their competitive positions in the overall market. For instance, In February 2014, Total S.A. announced plans for expansion of its operations in the Mediterranean region. In December 2013, ExxonMobil finalized plans for the development of a new unit in Singapore with a production capacity of 62,000 barrels per day.
The global offshore lubricants market is segmented as follows:
Offshore Lubricants Market: End User Segment Analysis
Offshore rigs
FPSO
Offshore Lubricants Market: Application Segment Analysis
Engine oil
Hydraulic oil
Gear oil
Grease
Others (turbine oil, compressor oil, circulating oil, etc.)
Offshore Lubricants Market: Regional Analysis
North America
Europe
Middle East
Asia Pacific
RoW (Rest of the World)
About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Contact
Mr.Sudip S
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
Lubricants are used to ensure proper functioning of various machines. They are used to reduce wear and tear and friction in the functional components of machines. Lubricants impart properties such as high viscosity index, prevention against corrosion, thermal stability, high boiling point, low freezing pint, and high resistance to oxidation.
Increasing investments in offshore oil and gas explorations, which includes shale gas exploration as well, are the major factor driving the global offshore lubricants market until the end of the forecast period. Moreover, large-scale governmental undertakings for the development of deepwater and ultra-deepwater oil and gas wells will open tremendous opportunities for companies involved in the offshore lubricants market. However, environmental concerns associated with the use of certain lubricants will restrain the market’s growth.
By end use, the report segments the global offshore lubricants market into offshore rigs and floating production storage and offloading (FPSO). In 2013, offshore rigs held a revenue share of more than 70% in the global market. Nevertheless, in the 2014-2020 period, FPSO will display faster growth in the overall market.
Get FREE Sample PDF file of : http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3141
The research report segments the global market into the application segments of gear oil, engine oil, grease, hydraulic oil, and others (circulating oil, compressor oil, and turbine oil). Of all, in 2013, engine oil led the market and accounted for a share of more than 60% in the global market. The report segments this market into the regional segments of Asia Pacific, the Middle East, North America, Europe, and Rest of the World. The regional segment of the Rest of the World dominated the market in 2013; the region held a revenue share of more than 28% in the global offshore lubricants market. Increasing investments in large-scale projects for the development of offshore reserves in Brazil and West Africa are the reason for this.
Key players in the global offshore lubricants market are Royal Dutch Shell plc, Gulf Oil Marine Limited, BP plc, ExxonMobil Corporation, Chevron Corporation, Lukoil Oil Company, Sinopec Limited, and Total S.A. The report also includes a snapshot of business expansion strategies of top players aimed at maintaining their competitive positions in the overall market. For instance, In February 2014, Total S.A. announced plans for expansion of its operations in the Mediterranean region. In December 2013, ExxonMobil finalized plans for the development of a new unit in Singapore with a production capacity of 62,000 barrels per day.
The global offshore lubricants market is segmented as follows:
Offshore Lubricants Market: End User Segment Analysis
Offshore rigs
FPSO
Offshore Lubricants Market: Application Segment Analysis
Engine oil
Hydraulic oil
Gear oil
Grease
Others (turbine oil, compressor oil, circulating oil, etc.)
Offshore Lubricants Market: Regional Analysis
North America
Europe
Middle East
Asia Pacific
RoW (Rest of the World)
About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Contact
Mr.Sudip S
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com