Market Overview:
The global industrial oil market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for industrial oils from various end-use industries, such as power equipment, construction machinery, and industrial equipment. In addition, the growing awareness about the benefits of using industrial oils is also contributing to the growth of this market. Based on type, compressor oil accounted for the largest share of the global industrial oil market in 2017. This segment is projected to grow at a CAGR of 5.8% during the forecast period from 2018 to 2030 due to its high demand from various end-use industries across different regions worldwide. Hydraulic oil was second largest type segment in 2017 and is projected grow at a CAGR 6%. By application Power Equipment Lubricants commanded highest revenue share followed by Construction Machinery Lubricants and Industrial Equipment Lubricants segments respectively in 2017 & it will continue through out forecast period .
Product Definition:
Industrial oil is a lubricant that is used in machines to reduce friction and heat. It can also protect the machine from corrosion.
Compressor Oil:
Compressor oil is the lubricant used in reciprocating compressors. It ensures smooth operation of the equipment and prevents it from overheating, rusting & corrosion. Compressor oils are formulated to meet all major industry standards including American Petroleum Institute (API), British Standards (BS), Canadian Association of Petroleum Producers (CAPP) and European Union (EU).
Hydraulic Oil:
Hydraulic oil is a type of mineral oil which is obtained from the hydraulic fracturing process. It has high viscosity and low flash point. The major components present in hydraulic oils include paraffins, naphthenes, aromatic hydrocarbons and polyalphaolefins (PAO). They are used as an input to various industrial processes including metal working, rubber processing and plastic manufacturing industries.
Application Insights:
The construction machinery lubricants segment dominated the global industrial oil market in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing demand for construction equipment, such as dragline excavators, concrete mixers and skid loaders among others across various industries globally.
Industrial oils are used in a variety of power equipment applications including diesel engines on tractors & farm vehicles, compressors & turbines among others. They are also used as fuel additives in gas turbine engines which propel these machines along with their heat energy for electricity generation or other mechanical work applications such as grinding and crushing operations where high-temperature resistance is required from the engine oil.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region is home to several emerging economies, including China, India, Indonesia and Malaysia. These countries are among the largest consumers of industrial oils globally owing to their rapidly expanding manufacturing sector.
China has emerged as a major consumer of industrial oils in Asia Pacific on account of rapid growth in industries including food machinery, construction machinery and power equipment. In addition, increasing foreign investments coupled with favorable government policies have contributed significantly toward industry development over the past few years across various Asian countries such as Vietnam and Thailand.
North America accounted for a significant share of global consumption due to high demand from end-use industries such as food & beverage processing equipment; automotive lubricants; textile machinery; medical devices & pharmaceuticals; oil field services E&C lubricants etc., which are based out of U.S.
Growth Factors:
- Increasing demand from the transportation sector: The industrial oil market is primarily driven by the increasing demand for transportation fuels such as gasoline and diesel. With the growing population and rising income levels, there is a corresponding increase in the demand for automobiles, which in turn is fueling the growth of the industrial oil market.
- Stringent environmental regulations: Governments across different countries are implementing stringent environmental regulations to reduce emissions from vehicles and industries. This is resulting in an increased use of low-emitting fuels such as industrial oils, which is aiding the growth of this market.
- Rising investments in renewable energy: There has been a significant rise in investments made in renewable energy sources such as solar and wind power over recent years. This shift towards renewables is likely to result in a decline in consumption of traditional fuels such as coal and natural gas, thereby providing opportunities for growth within the industrial oil market over coming years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Industrial Oil Market Research Report
By Type
Compressor Oil, Hydraulic Oil, Gear Oil, Vacuum Pump Oil, Turbine Oil, Food Machinery Oil, Other
By Application
Power Equipment Lubricants, Construction Machinery Lubricants, Industrial Equipment Lubricants, Other
By Companies
Exxon Mobil, Chevron, Shell, Rosneft, ADNOC, Lubrizol, BP, Lukoil, Total, Sinopec, CNPC, HPCL, Gazprom Neft, Indian Oil, Pertamina, Phillips 66 Company, FUCHS Group, Repsol, SK Lubricants, JXTG Nippon Oil & Energy, Lubrication Engineers, Exol LuLukoilbricants, Hindustan Petroleum
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
184
Number of Tables & Figures
129
Customization Available
Yes, the report can be customized as per your need.
Global Industrial Oil Market Report Segments:
The global Industrial Oil market is segmented on the basis of:
Types
Compressor Oil, Hydraulic Oil, Gear Oil, Vacuum Pump Oil, Turbine Oil, Food Machinery Oil, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Power Equipment Lubricants, Construction Machinery Lubricants, Industrial Equipment Lubricants, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Exxon Mobil
- Chevron
- Shell
- Rosneft
- ADNOC
- Lubrizol
- BP
- Lukoil
- Total
- Sinopec
- CNPC
- HPCL
- Gazprom Neft
- Indian Oil
- Pertamina
- Phillips 66 Company
- FUCHS Group
- Repsol
- SK Lubricants
- JXTG Nippon Oil & Energy
- Lubrication Engineers
- Exol LuLukoilbricants
- Hindustan Petroleum
Highlights of The Industrial Oil Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Compressor Oil
- Hydraulic Oil
- Gear Oil
- Vacuum Pump Oil
- Turbine Oil
- Food Machinery Oil
- Other
- By Application:
- Power Equipment Lubricants
- Construction Machinery Lubricants
- Industrial Equipment Lubricants
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Industrial Oil Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Industrial oil is a type of oil that is used in industrial applications. It is typically heavier than regular oil, which makes it less likely to spill and easier to transport.
Some of the major companies in the industrial oil market are Exxon Mobil, Chevron, Shell, Rosneft, ADNOC, Lubrizol, BP, Lukoil, Total, Sinopec, CNPC, HPCL, Gazprom Neft, Indian Oil, Pertamina, Phillips 66 Company, FUCHS Group, Repsol, SK Lubricants, JXTG Nippon Oil & Energy, Lubrication Engineers, Exol LuLukoilbricants, Hindustan Petroleum.
The industrial oil market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Industrial Oil Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Industrial Oil Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Industrial Oil Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Industrial Oil Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Industrial Oil Market Size & Forecast, 2020-2028
4.5.1 Industrial Oil Market Size and Y-o-Y Growth
4.5.2 Industrial Oil Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Compressor Oil
5.2.2 Hydraulic Oil
5.2.3 Gear Oil
5.2.4 Vacuum Pump Oil
5.2.5 Turbine Oil
5.2.6 Food Machinery Oil
5.2.7 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Power Equipment Lubricants
6.2.2 Construction Machinery Lubricants
6.2.3 Industrial Equipment Lubricants
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Industrial Oil Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Industrial Oil Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Compressor Oil
9.6.2 Hydraulic Oil
9.6.3 Gear Oil
9.6.4 Vacuum Pump Oil
9.6.5 Turbine Oil
9.6.6 Food Machinery Oil
9.6.7 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Power Equipment Lubricants
9.10.2 Construction Machinery Lubricants
9.10.3 Industrial Equipment Lubricants
9.10.4 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Compressor Oil
10.6.2 Hydraulic Oil
10.6.3 Gear Oil
10.6.4 Vacuum Pump Oil
10.6.5 Turbine Oil
10.6.6 Food Machinery Oil
10.6.7 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Power Equipment Lubricants
10.10.2 Construction Machinery Lubricants
10.10.3 Industrial Equipment Lubricants
10.10.4 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Compressor Oil
11.6.2 Hydraulic Oil
11.6.3 Gear Oil
11.6.4 Vacuum Pump Oil
11.6.5 Turbine Oil
11.6.6 Food Machinery Oil
11.6.7 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Power Equipment Lubricants
11.10.2 Construction Machinery Lubricants
11.10.3 Industrial Equipment Lubricants
11.10.4 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Compressor Oil
12.6.2 Hydraulic Oil
12.6.3 Gear Oil
12.6.4 Vacuum Pump Oil
12.6.5 Turbine Oil
12.6.6 Food Machinery Oil
12.6.7 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Power Equipment Lubricants
12.10.2 Construction Machinery Lubricants
12.10.3 Industrial Equipment Lubricants
12.10.4 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Compressor Oil
13.6.2 Hydraulic Oil
13.6.3 Gear Oil
13.6.4 Vacuum Pump Oil
13.6.5 Turbine Oil
13.6.6 Food Machinery Oil
13.6.7 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Power Equipment Lubricants
13.10.2 Construction Machinery Lubricants
13.10.3 Industrial Equipment Lubricants
13.10.4 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Industrial Oil Market: Competitive Dashboard
14.2 Global Industrial Oil Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Exxon Mobil
14.3.2 Chevron
14.3.3 Shell
14.3.4 Rosneft
14.3.5 ADNOC
14.3.6 Lubrizol
14.3.7 BP
14.3.8 Lukoil
14.3.9 Total
14.3.10 Sinopec
14.3.11 CNPC
14.3.12 HPCL
14.3.13 Gazprom Neft
14.3.14 Indian Oil
14.3.15 Pertamina
14.3.16 Phillips 66 Company
14.3.17 FUCHS Group
14.3.18 Repsol
14.3.19 SK Lubricants
14.3.20 JXTG Nippon Oil & Energy
14.3.21 Lubrication Engineers
14.3.22 Exol LuLukoilbricants
14.3.23 Hindustan Petroleum
