Offshore Lubricants Market Trends, Growth and Forecasts 2014 to 2021
The new research report on Offshore Lubricants Market offered by DecisionDatabases.com provides Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 to 2021.
Offshore lubricants are used to reduce wear and tear, avoid friction and corrosion of offshore machines and equipment. Offshore machineries are used in exploration and drilling of offshore resources. These lubricants help improve reliability, efficiency and performance of offshore machineries and equipment. These lubricants are used to facilitate the performance of hydraulic machineries, engines, gears, turbines and other machines. Offshore equipment improve operational efficiency and extend life of equipment.
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Technological developments have led to the production biological offshore lubricants which feature efficient performance of machines coupled with environmental protection. Applications segment global offshore lubricants market into gear oil, engine oil, hydraulic oil, grease and others (turbine oil, compressor oil, circulating oil, etc.). Offshore rigs, FPSOs (Floating Production, Storage & Offloading Vessels) and OSVs (Offshore Support Vessels) are the end-use segments of this market.
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Increasing exploration of deep water and aquatic offshore resources is a major factor to boost the rapid growth of offshore lubricants market. Featuring aspects of offshore lubricants to extend life span of machines and equipment and improve operational functioning is expected to open new market opportunities for this market. Awareness regarding environmental protection and stringent regulations over the on the compulsory use of bio based offshore lubricants in the Europe and North America. This is a significant factor responsible to upsurge the global offshore lubricants market. In addition, rising exploration and investments in oil & gas industry in offshore production is another significant factor to empower the growth this market. Environmental concerns and fluctuating prices of raw materials is restraining the growth of global offshore market.
Major players assessed in the report are :
Global offshore lubricants market report is segmented by geography as Asia Pacific, North America, Europe, Latin America and Middle East and Africa. Key players in the global offshore lubricants market include British Petroleum, Total S.A., JX Nippon Oil & Energy Corp, Lukoil, Sinopec, Idemitsu Kosan, Royal Dutch Shell plc, Gulf Oil Marine Limited, Chevron Corporation, ExxonMobil Corporation and BP plc.
SEGMENTATIONS IN REPORT :
1. Offshore Lubricants By Application :
– Engine Oil
– Gear Oil
– Hydraulic Oil
2. Offshore Lubricants By End-Use :
– FPSOs (Floating, Production, Storage & Offloading Vessels)
– Offshore Rigs
– OSVs (Offshore Support Vessels)
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