Global Turbine Oil Market 2024-2028

The turbine oil market is forecasted to grow by USD 630.89 mn during 2023-2028, accelerating at a CAGR of 8% during the forecast period. The report on the turbine oil market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increase in global electricity demand, rising awareness toward reduction of carbon emissions, and side effects of poor lubrication on turbines.

Market Scope
Base Year	2024
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	6.8%
CAGR	8%
Incremental Value	$630.89mn

Technavio's turbine oil market is segmented as below:

By Product Type

Mineral oil
Synthetic oil

By Application

Steam turbine
Gas turbine
Others

By Geographical Landscape

APAC
Europe
North America
Middle East and Africa
South America

This study identifies the growth of combined-cycle power plants (CCPP) as one of the prime reasons driving the turbine oil market growth during the next few years. Also, the development of lubricants and the emergence of new power plants will lead to sizable demand in the market.

The report on the turbine oil market covers the following areas:

Turbine oil market sizing
Turbine oil market forecast
Turbine oil market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading turbine oil market vendors that include Apar Industries Ltd., Axel Christiernsson International AB, Behran Oil Co., Castrol Ltd., Chevron Corp., CHS Inc., Eastman Chemical Co., Eni SpA, FUCHS PETROLUB SE, Growmark Inc., Hindustan Petroleum Corp. Ltd., Lubrication Engineers Inc., Matrix Specialty Lubricants BV, Miguez Fuel and Lubricants, Petroleos de Venezuela SA, Phillips 66, Pure Lubricants Chennai Pvt. Ltd., Savita Oil Technologies Ltd., Shell plc, Sinopec Shanghai Petrochemical Co. Ltd., Tide Water Oil Co. India Ltd., and Valvoline Inc.. Also, the turbine oil market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Product Code: IRTNTR44849

1 Executive Summary

1.1 Market overview
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Global Market Characteristics
Exhibit 04: Executive Summary - Chart on Market By Geographical Landscape
Exhibit 05: Executive Summary - Chart on Market Segmentation by Product Type
Exhibit 06: Executive Summary - Chart on Market Segmentation by Application
Exhibit 07: Executive Summary - Chart on Incremental Growth
Exhibit 08: Executive Summary - Data Table on Incremental Growth
Exhibit 09: Executive Summary - Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Global turbine oil market 2018 - 2022
Exhibit 18: Historic Market Size - Data Table on global turbine oil market 2018 - 2022 ($ million)
4.2 Product Type Segment Analysis 2018 - 2022
Exhibit 19: Historic Market Size - Product Type Segment 2018 - 2022 ($ million)
4.3 Application Segment Analysis 2018 - 2022
Exhibit 20: Historic Market Size - Application Segment 2018 - 2022 ($ million)
4.4 Geography Segment Analysis 2018 - 2022
Exhibit 21: Historic Market Size - Geography Segment 2018 - 2022 ($ million)
4.5 Country Segment Analysis 2018 - 2022
Exhibit 22: Historic Market Size - Country Segment 2018 - 2022 ($ million)

5 Five Forces Analysis

5.1 Five forces summary
Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Product Type

6.1 Market segments
Exhibit 30: Chart on Product Type - Market share 2023-2028 (%)
Exhibit 31: Data Table on Product Type - Market share 2023-2028 (%)
6.2 Comparison by Product Type
Exhibit 32: Chart on Comparison by Product Type
Exhibit 33: Data Table on Comparison by Product Type
6.3 Mineral oil - Market size and forecast 2023-2028
Exhibit 34: Chart on Mineral oil - Market size and forecast 2023-2028 ($ million)
Exhibit 35: Data Table on Mineral oil - Market size and forecast 2023-2028 ($ million)
Exhibit 36: Chart on Mineral oil - Year-over-year growth 2023-2028 (%)
Exhibit 37: Data Table on Mineral oil - Year-over-year growth 2023-2028 (%)
6.4 Synthetic oil - Market size and forecast 2023-2028
Exhibit 38: Chart on Synthetic oil - Market size and forecast 2023-2028 ($ million)
Exhibit 39: Data Table on Synthetic oil - Market size and forecast 2023-2028 ($ million)
Exhibit 40: Chart on Synthetic oil - Year-over-year growth 2023-2028 (%)
Exhibit 41: Data Table on Synthetic oil - Year-over-year growth 2023-2028 (%)
6.5 Market opportunity by Product Type
Exhibit 42: Market opportunity by Product Type ($ million)
Exhibit 43: Data Table on Market opportunity by Product Type ($ million)

7 Market Segmentation by Application

7.1 Market segments
Exhibit 44: Chart on Application - Market share 2023-2028 (%)
Exhibit 45: Data Table on Application - Market share 2023-2028 (%)
7.2 Comparison by Application
Exhibit 46: Chart on Comparison by Application
Exhibit 47: Data Table on Comparison by Application
7.3 Steam turbine - Market size and forecast 2023-2028
Exhibit 48: Chart on Steam turbine - Market size and forecast 2023-2028 ($ million)
Exhibit 49: Data Table on Steam turbine - Market size and forecast 2023-2028 ($ million)
Exhibit 50: Chart on Steam turbine - Year-over-year growth 2023-2028 (%)
Exhibit 51: Data Table on Steam turbine - Year-over-year growth 2023-2028 (%)
7.4 Gas turbine - Market size and forecast 2023-2028
Exhibit 52: Chart on Gas turbine - Market size and forecast 2023-2028 ($ million)
Exhibit 53: Data Table on Gas turbine - Market size and forecast 2023-2028 ($ million)
Exhibit 54: Chart on Gas turbine - Year-over-year growth 2023-2028 (%)
Exhibit 55: Data Table on Gas turbine - Year-over-year growth 2023-2028 (%)
7.5 Others - Market size and forecast 2023-2028
Exhibit 56: Chart on Others - Market size and forecast 2023-2028 ($ million)
Exhibit 57: Data Table on Others - Market size and forecast 2023-2028 ($ million)
Exhibit 58: Chart on Others - Year-over-year growth 2023-2028 (%)
Exhibit 59: Data Table on Others - Year-over-year growth 2023-2028 (%)
7.6 Market opportunity by Application
Exhibit 60: Market opportunity by Application ($ million)
Exhibit 61: Data Table on Market opportunity by Application ($ million)

8 Customer Landscape

8.1 Customer landscape overview
Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
Exhibit 63: Chart on Market share By Geographical Landscape 2023-2028 (%)
Exhibit 64: Data Table on Market share By Geographical Landscape 2023-2028 (%)
9.2 Geographic comparison
Exhibit 65: Chart on Geographic comparison
Exhibit 66: Data Table on Geographic comparison
9.3 APAC - Market size and forecast 2023-2028
Exhibit 67: Chart on APAC - Market size and forecast 2023-2028 ($ million)
Exhibit 68: Data Table on APAC - Market size and forecast 2023-2028 ($ million)
Exhibit 69: Chart on APAC - Year-over-year growth 2023-2028 (%)
Exhibit 70: Data Table on APAC - Year-over-year growth 2023-2028 (%)
9.4 Europe - Market size and forecast 2023-2028
Exhibit 71: Chart on Europe - Market size and forecast 2023-2028 ($ million)
Exhibit 72: Data Table on Europe - Market size and forecast 2023-2028 ($ million)
Exhibit 73: Chart on Europe - Year-over-year growth 2023-2028 (%)
Exhibit 74: Data Table on Europe - Year-over-year growth 2023-2028 (%)
9.5 North America - Market size and forecast 2023-2028
Exhibit 75: Chart on North America - Market size and forecast 2023-2028 ($ million)
Exhibit 76: Data Table on North America - Market size and forecast 2023-2028 ($ million)
Exhibit 77: Chart on North America - Year-over-year growth 2023-2028 (%)
Exhibit 78: Data Table on North America - Year-over-year growth 2023-2028 (%)
9.6 Middle East and Africa - Market size and forecast 2023-2028
Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
9.7 South America - Market size and forecast 2023-2028
Exhibit 83: Chart on South America - Market size and forecast 2023-2028 ($ million)
Exhibit 84: Data Table on South America - Market size and forecast 2023-2028 ($ million)
Exhibit 85: Chart on South America - Year-over-year growth 2023-2028 (%)
Exhibit 86: Data Table on South America - Year-over-year growth 2023-2028 (%)
9.8 China - Market size and forecast 2023-2028
Exhibit 87: Chart on China - Market size and forecast 2023-2028 ($ million)
Exhibit 88: Data Table on China - Market size and forecast 2023-2028 ($ million)
Exhibit 89: Chart on China - Year-over-year growth 2023-2028 (%)
Exhibit 90: Data Table on China - Year-over-year growth 2023-2028 (%)
9.9 India - Market size and forecast 2023-2028
Exhibit 91: Chart on India - Market size and forecast 2023-2028 ($ million)
Exhibit 92: Data Table on India - Market size and forecast 2023-2028 ($ million)
Exhibit 93: Chart on India - Year-over-year growth 2023-2028 (%)
Exhibit 94: Data Table on India - Year-over-year growth 2023-2028 (%)
9.10 US - Market size and forecast 2023-2028
Exhibit 95: Chart on US - Market size and forecast 2023-2028 ($ million)
Exhibit 96: Data Table on US - Market size and forecast 2023-2028 ($ million)
Exhibit 97: Chart on US - Year-over-year growth 2023-2028 (%)
Exhibit 98: Data Table on US - Year-over-year growth 2023-2028 (%)
9.11 Germany - Market size and forecast 2023-2028
Exhibit 99: Chart on Germany - Market size and forecast 2023-2028 ($ million)
Exhibit 100: Data Table on Germany - Market size and forecast 2023-2028 ($ million)
Exhibit 101: Chart on Germany - Year-over-year growth 2023-2028 (%)
Exhibit 102: Data Table on Germany - Year-over-year growth 2023-2028 (%)
9.12 Saudi Arabia - Market size and forecast 2023-2028
Exhibit 103: Chart on Saudi Arabia - Market size and forecast 2023-2028 ($ million)
Exhibit 104: Data Table on Saudi Arabia - Market size and forecast 2023-2028 ($ million)
Exhibit 105: Chart on Saudi Arabia - Year-over-year growth 2023-2028 (%)
Exhibit 106: Data Table on Saudi Arabia - Year-over-year growth 2023-2028 (%)
9.13 Market opportunity By Geographical Landscape
Exhibit 107: Market opportunity By Geographical Landscape ($ million)
Exhibit 108: Data Tables on Market opportunity By Geographical Landscape ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 109: Impact of drivers and challenges in 2023 and 2028
10.4 Market trends

11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape
Exhibit 110: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 111: Overview on factors of disruption
11.4 Industry risks
Exhibit 112: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
Exhibit 113: Vendors covered
12.2 Market positioning of vendors
Exhibit 114: Matrix on vendor position and classification
12.3 Apar Industries Ltd.
Exhibit 115: Apar Industries Ltd. - Overview
Exhibit 116: Apar Industries Ltd. - Business segments
Exhibit 117: Apar Industries Ltd. - Key offerings
Exhibit 118: Apar Industries Ltd. - Segment focus
12.4 Axel Christiernsson International AB
Exhibit 119: Axel Christiernsson International AB - Overview
Exhibit 120: Axel Christiernsson International AB - Product / Service
Exhibit 121: Axel Christiernsson International AB - Key offerings
12.5 Castrol Ltd.
Exhibit 122: Castrol Ltd. - Overview
Exhibit 123: Castrol Ltd. - Product / Service
Exhibit 124: Castrol Ltd. - Key offerings
12.6 Chevron Corp.
Exhibit 125: Chevron Corp. - Overview
Exhibit 126: Chevron Corp. - Business segments
Exhibit 127: Chevron Corp. - Key news
Exhibit 128: Chevron Corp. - Key offerings
Exhibit 129: Chevron Corp. - Segment focus
12.7 CHS Inc.
Exhibit 130: CHS Inc. - Overview
Exhibit 131: CHS Inc. - Business segments
Exhibit 132: CHS Inc. - Key offerings
Exhibit 133: CHS Inc. - Segment focus
12.8 Eastman Chemical Co.
Exhibit 134: Eastman Chemical Co. - Overview
Exhibit 135: Eastman Chemical Co. - Business segments
Exhibit 136: Eastman Chemical Co. - Key offerings
Exhibit 137: Eastman Chemical Co. - Segment focus
12.9 Eni SpA
Exhibit 138: Eni SpA - Overview
Exhibit 139: Eni SpA - Business segments
Exhibit 140: Eni SpA - Key offerings
Exhibit 141: Eni SpA - Segment focus
12.10 FUCHS PETROLUB SE
Exhibit 142: FUCHS PETROLUB SE - Overview
Exhibit 143: FUCHS PETROLUB SE - Business segments
Exhibit 144: FUCHS PETROLUB SE - Key news
Exhibit 145: FUCHS PETROLUB SE - Key offerings
Exhibit 146: FUCHS PETROLUB SE - Segment focus
12.11 Growmark Inc.
Exhibit 147: Growmark Inc. - Overview
Exhibit 148: Growmark Inc. - Product / Service
Exhibit 149: Growmark Inc. - Key offerings
12.12 Matrix Specialty Lubricants BV
Exhibit 150: Matrix Specialty Lubricants BV - Overview
Exhibit 151: Matrix Specialty Lubricants BV - Product / Service
Exhibit 152: Matrix Specialty Lubricants BV - Key offerings
12.13 Petroleos de Venezuela SA
Exhibit 153: Petroleos de Venezuela SA - Overview
Exhibit 154: Petroleos de Venezuela SA - Product / Service
Exhibit 155: Petroleos de Venezuela SA - Key offerings
12.14 Phillips 66
Exhibit 156: Phillips 66 - Overview
Exhibit 157: Phillips 66 - Business segments
Exhibit 158: Phillips 66 - Key offerings
Exhibit 159: Phillips 66 - Segment focus
12.15 Shell plc
Exhibit 160: Shell plc - Overview
Exhibit 161: Shell plc - Business segments
Exhibit 162: Shell plc - Key offerings
Exhibit 163: Shell plc - Segment focus
12.16 Sinopec Shanghai Petrochemical Co. Ltd.
Exhibit 164: Sinopec Shanghai Petrochemical Co. Ltd. - Overview
Exhibit 165: Sinopec Shanghai Petrochemical Co. Ltd. - Business segments
Exhibit 166: Sinopec Shanghai Petrochemical Co. Ltd. - Key news
Exhibit 167: Sinopec Shanghai Petrochemical Co. Ltd. - Key offerings
Exhibit 168: Sinopec Shanghai Petrochemical Co. Ltd. - Segment focus
12.17 Valvoline Inc.
Exhibit 169: Valvoline Inc. - Overview
Exhibit 170: Valvoline Inc. - Product / Service
Exhibit 171: Valvoline Inc. - Key offerings

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 172: Inclusions checklist
Exhibit 173: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 174: Currency conversion rates for US$
13.4 Research methodology
Exhibit 175: Research methodology
Exhibit 176: Validation techniques employed for market sizing
Exhibit 177: Information sources
13.5 List of abbreviations
Exhibit 178: List of abbreviations