Posts | Comments

Marine Lubricants Market is Estimated to Reach USD 6.8 Billion by 2027 | TechSci Research

Contact Us
TechSci Research
420 Lexington Avenue, Suite 300
New York
New York 10170 
india
Phone:3322586602
Sales@techsciresearch.com

According to TechSci Research report, “Global Marine Lubricants Market, By Oil Type (Mineral Oil, Bio-Based, Synthetic and Grease), By Application (Engine, Compressor, Hydraulic and Others), By Ship Type (Tankers, Cargo Ships, Container Ships and Others), By Company and By Geography, Forecast & Opportunities, 2027”, 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.

Browse over xx market data Figures spread through 110 Pages and an in-depth TOC on “Global Marine Lubricants Market”

https://www.techsciresearch.com/report/marine-lubricants-market/2878.html

Moreover, the growing developments of infrastructure for strengthening the shipping industry coupled with growing overseas trade is projected to drive the growth of the market in the next five years. Additionally, the growing efforts towards improving the fuel efficiency by OEMs is the expected to drive the growth of the Global Marine Lubricants Market by 2027.

On the basis of type, the Global Marine Lubricants Market is segmented into mineral oil, synthetic, bio-based, and grease. The Mineral oil segment dominated the marine lubricants market in 2021 due to ease of availability from crude extracts, cost-effectiveness and widespread use in marine applications. The bio-based segment is projected to dominate the market during the forecast period stringent safety norms that support the development of bio-based, renewable fuels because of high emissions of sulfur and nitrogen in the sea that are harmful aquatic life, damage the ozone layer and the environment.

Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=2878

Customers can also request for 10% free customization on this report.

Leading Players:

BP PLC.
Exxonmobil Corporation
Indian Oil Corporation Ltd.
Chevron Corporation
Royal Dutch Shell PLC, 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.

“Increasing investments in optimized vessel efficiency, surging maritime tourism and huge demand for economically viable engines are among the other factors that are expected to positively influence the marine engines market, globally. is anticipated to drive the Marine Lubricants market through 2027.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Marine Lubricants Market, By Oil Type (Mineral Oil, Bio-Based, Synthetic and Grease), By Application (Engine, Compressor, Hydraulic and Others), By Ship Type (Tankers, Cargo Ships, Container Ships and Others), By Company and By Geography, Forecast & Opportunities, 2027” has evaluated the future growth potential of Global Marine Lubricants market and provides statistics and information on market size, structure and future market growth. The report offers decision makers superior market intelligence, thereby enabling them conduct thorough investment appraisal. Besides, the report also analyzes the evolving market inclinations along with indispensable drivers, challenges and opportunities in Global Marine Lubricants Market.

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global, and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

Contact
Mr. Ken Mathews
420 Lexington Avenue,
Suite 300, New York, NY,
United States, 10170
Tel: +1-646-360-1656
Email: sales@techsciresearch.com

Leave a Reply