The Turbine Oils Market is expected to grow at $ 16,101.73 million at a CAGR of 3.62%. - PowerPoint PPT Presentation

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The Turbine Oils Market is expected to grow at $ 16,101.73 million at a CAGR of 3.62%.

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The Turbine Oil market is exhibiting strong growth because of improving economies, growing energy demand across the developing and developed regions of the world. Furthermore, the growing need for alternate energy sources such as wind energy will be met by large-scale wind energy plants, which will require enormous quantities of turbine oil for maintenance. – PowerPoint PPT presentation

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Title: The Turbine Oils Market is expected to grow at $ 16,101.73 million at a CAGR of 3.62%.


1
The Turbine Oils Market is expected to grow at
16,101.73 million at a CAGR of 3.62.
2
Americas dominates the Turbine Oils Market
Americas will dominate the Turbine Oils Market
during the forecast period. It is expected to
generate 4,917.79 million at a CAGR of 3.30. It
is expected to generate 5,155.58 million by 2023
at a CAGR of 3.30. The US has the largest share
in turbine oils followed by Canada. The turbine
oils are used to lubricate the hydroelectric
turbines in the electric power generation
industry, marine, and aircrafts. Turbine oil is
also used in wind energy generation industry.
Brazil is also a major end user of turbine oils
due to the growing use of wind turbines in the
region.
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3
Selected / Sample Analysis done in the full
Report
The gas turbines segment dominates the Turbine
Oils Market. In 2017, this segment generated
revenue of 4,550 million . . It is expected
to reach 5,745.94 million by 2023 at a CAGR of
3.39. In the aviation industry, the gas
turbines are used as they have less moving parts
and need not be maintained. The gas turbines use
a single lubricating system for heavy frame gas
turbines. They use mineral oils for lubrication,
but can also use full synthetic oil in some
cases. For higher temperatures, high viscosity
oil is used to prevent the thinning of oils due
to the heat. Selection of the correct type of oil
for gas turbines is important as it gives a
longer life to the system. Gas turbines are used
in ships, trains, tanks, and electric generators.
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4
Excerpts on Market Growth Factors
  • Turbine oil is used to lubricate the wind
    turbines, since lubricants are essential to
    ensure that the machine works well.
  • Turbine oils are used in inside and outside
    turbine engine environment to provide smoother
    operations and longer service life of the engine.
  • Low eco toxic turbine oils give a better
    performance and are safe to use.
  • Growth of automation and aviation industry leads
    to more demand for turbine oils.
  • Increase in pneumatic applications will drive the
    demand for turbine oils.

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5
Key Players of the Turbine Oils Market
  • Lukoil Lubricants Company
  •   Chevron USA Inc.
  •   RoyalDutch Shell Plc.
  •   FUCHS Lubritech GmbH
  •   Exxon Mobil Corporation
  •   Shell India
  •   Eastern Petroleum Pvt. Ltd.
  •   Klüber Lubrication NA LP
  •   Penrite Oil Company
  •   Paras Lubricants Limited

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6
You Can Customize the Report as Per Your Need. We
have included Some Customization Options
Company Profile
Analyst Briefing
Data Tables
Key Contacts
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7
About IndustryARC
IndustryARC is a research and consulting firm
that publishes more than 500 reports annually in
various industries, such as Agriculture,
Automotive, Automation Instrumentation,
Chemicals and Materials, Energy and Power,
Electronics, Food Beverages, Information
Technology, Life sciences Healthcare. IndustryA
RC primarily focuses on Cutting Edge Technologies
and Newer Applications of the Market. Our Custom
Research Services are designed to provide
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demand-supply gap of markets. Our strong analyst
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