Global Marine Lubricants Market is projected to reach USD 6.87 Billion by 2027, at a CAGR of over 2% during the forecast period owing to increasing safety norms, growing global cargo fleets, easy availability of mineral oils and increasing investments for R&D. Based on application, the market has been categorised Engine, Compressor, Hydraulic and Others. In 2021, the engines segment dominated the global marine lubricants market and is expected to grow at a fastest CAGR during the next five years owing to huge size, high consumption, heat transfer fluids etc. APAC region led the global marine lubricants market in 2021, in terms of value and is expected to lead over the next five years as well owing to rising infrastructural developments in the shipping industry in the region and availability of many manufacturers in the region like Royal Dutch Shell Plc., Indian Oil Corporation Ltd., Total S.A., among others. Some of the key players of the marine lubricants market present globally are BP PLC, Sinopec Corporation, Idemitsu Kosan Co. Ltd., Chevron Corporation, among others.
Some of the leading players in the Global Marine Lubricants Market are Indian Oil Corporation Ltd., BP p.l.c., ExxonMobil Corporation, Chevron Corporation, Royal Dutch Shell PLC., Idemitsu Kosan Co. Ltd., Sinopec Corporation, Total SE, Quepet Lubricants, Unimarine LLC etc.
Objective of the Study:
- To analyse and forecast the market size of Marine Lubricants Market, in terms of value and volume.
- To classify and forecast Global Marine Lubricants Market based on oil type, application, ship type and regional distribution.
- To identify drivers and challenges for Global Marine Lubricants Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Global Marine Lubricants Market.
- To conduct the pricing analysis for Marine Lubricants Market.
- To identify and analyse the profile of leading players involved in the manufacturing of Global Marine Lubricants Market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the suppliers which could not be identified due to the limitations of secondary research. TechSci Research analysed the service offerings, distribution channels and presence of all major collaboration manufacturer across the globe.
TechSci Research calculated the market size of Global Marine Lubricants Market using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analysing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also used by TechSci Research.
Key Target Audience:
- Marine Lubricants Manufacturers
- Traders, Distributors, and Suppliers
- Raw Material Suppliers
- Industry associations and experts
- Research organizations and consulting companies.
- Research Institutes
- Industry associations
- Market research and consulting firm.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as collaboration manufacturer and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
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