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Global Marine Lubricants Market Report 2023: Growth in Maritime Tourism Bolsters Sector

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Dublin, Jan. 09, 2023 (GLOBE NEWSWIRE) -- The "Global Marine Lubricants Market 2021-2031 by Product Type, Application, End Use, and Region: Trend Forecast and Growth Opportunity" report has been added to ResearchAndMarkets.com's offering.

Global marine lubricants market will reach $ 10,473.3 million by 2031, growing by 3.5% annually over 2021-2031, driven by the increasing demand for marine lubricants from the shipping industry and its increasing maintenance cost for fuel-saving and cost reduction, the increasing expenditure in marine defense vessels, an increase in demand for bio-based eco-friendly marine lubricants, the emerging emission abatement technologies, and the growth in maritime tourism and the infrastructural developments. In terms of demand volume (thousand tons), the global market is expected to grow at a 2021-2031 CAGR of 2.7%.

This 184-page report is based on a comprehensive research of the entire global marine lubricants market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2019-2021 and provides forecast from 2022 till 2031 with 2021 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

In-depth qualitative analyses include identification and investigation of the following aspects:

  • Market Structure

  • Growth Drivers

  • Restraints and Challenges

  • Emerging Product Trends & Market Opportunities

  • Porter's Fiver Forces

The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify global marine lubricants market in every aspect of the classification from perspectives of Product Type, Application, End Use, and Region.

Based on Product Type, the global market is segmented into the following sub-markets with annual revenue ($ mn) and volume (thousand tons) for 2021-2031 included in each section.

  • Mineral Oil

  • Synthetic Oil

  • Bio-Based Oil

Based on Application, the global market is segmented into the following sub-markets with annual revenue ($ mn) and volume (thousand tons) for 2021-2031 included in each section.

  • Engine System

  • Motors & Auxiliaries

  • Gear System

  • Hydraulic System

  • Air Compressor

  • Other Applications

By End Use, the global market is segmented into the following sub-markets with annual revenue ($ mn) and volume (thousand tons) for 2021-2031 included in each section.

  • Bulk Carriers

  • Tankers

  • Container Ships

  • General Cargo

  • Other End Uses

Geographically, the following regions together with the listed national/local markets are fully investigated:

  • North America (U.S., Canada, and Mexico)

  • Europe (Germany, UK, Finland, Norway, Italy, Netherlands, Rest of Europe; Rest of Europe is further segmented into Russia, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, France, Spain and Denmark)

  • APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)

  • South America (Argentina, Brazil, Panama and Rest of South America)

  • MEA (Egypt, Saudi Arabia, South Africa and Rest of MEA)

Selected Key Players:

  • BP Plc

  • Castrol

  • Chevron Corporation

  • Eni S.p.A

  • ExxonMobil Corporation

  • Fuchs Lubritech GmbH

  • Gulf Oil International Ltd.

  • Idemitsu Kosan Co., Ltd.

  • Indian Oil Corporation Ltd.

  • Jx Nippon Oil & Energy Corporation

  • Kluber Lubrication

  • LUKOIL Lubricants Company

  • Penrite Oil

  • PJSC Lukoil Oil Corporation

  • QUEPET Lubricants

  • Repsol SA

  • Shell plc

  • Sinopec Corporation

  • TotalEnergies SE

  • Valvoline Inc.

Report Attribute

Details

No. of Pages

184

Forecast Period

2021 - 2031

Estimated Market Value (USD) in 2021

$7446.1 Million

Forecasted Market Value (USD) by 2031

$10473.3 Million

Compound Annual Growth Rate

3.5%

Regions Covered

Global

Key Topics Covered:

1 Introduction

2 Market Overview and Dynamics

3 Segmentation of Global Market by Product Type

4 Segmentation of Global Market by Application

5 Segmentation of Global Market by End Use

6 Segmentation of Global Market by Region

7 Competitive Landscape

For more information about this report visit https://www.researchandmarkets.com/r/g5g7fa

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