Market Overview:
The global marine system oil market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for marine system oils from various end-use applications, such as deep-sea, inland/coastal, and other applications. In terms of type, the low speed system oil segment is projected to lead the global marine system oil market during the forecast period. This can be attributed to its properties that make it suitable for use in low speed engines and turbines used in maritime vessels. In terms of application, the deep-sea segment is projected to lead the global marine system oil market during the forecast period.
Product Definition:
Marine system oil is a type of lubricant that is specifically designed for use in marine applications. It is important to use a marine-specific oil because standard oils may not have the properties necessary to protect against corrosion and other harsh environmental conditions. Marine system oil can help extend the life of equipment by providing superior lubrication and protection.
Low Speed System Oil:
Low speed system oil is a product used in the marine industry to provide protection and lubrication for various components. It has applications in ships, boats, yachts and other water craft. The growth factor for this market is increasing demand from the shipping industry which uses large quantities of oil to operate effectively as well as perform optimally.
Middle Speed System Oil:
Middle Speed System Oil (NMSO) is a type of engine oil which finds its major application in marine engines. It has high viscosity and low flash point. This type of oil is specifically designed to provide optimum protection for the critical components in an engine at middle speeds, between startup and operating temperatures. The product also provides wear protection to the bearings, seals, and other moving parts at high loads along with maintaining optimal lubrication throughout the entire range of operating conditions.
Application Insights:
On the basis of application, the market is segmented into deep-sea, in-land/coastal and other applications. The in-land/coastal application segment dominated the overall industry with a share of over 60% in 2017. Middle and high speed system oils are majorly used for ships operating on inland waterways or along coastal areas. Growing demand for efficient transportation systems that are capable to transport large amount of cargo within limited time is expected to boost product demand over the forecast period.
The deep sea segment is anticipated to witness significant growth owing to increasing exploration activities off Africa, Asia Pacific and South America which will increase marine diesel engine usage across various industries such as energy generation from 2019 onward which in turn will propel product consumption over next seven years or so (by 2030). Middle speed system oil has been observed as an effective substitute for Deep Sea System Oil due its better performance at lower temperature range thus reducing operational cost by approximately 10%.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has a large number of shipbuilding facilities, which makes it a manufacturing hub for ships and related equipment. China, South Korea, Japan, Taiwan are some of the major countries that have been observed to be investing heavily in marine system oil products owing to their extensive usage across various industries including fishing vessels and coastal trade.
The Middle East & Africa is anticipated to witness significant growth over the forecast period owing to rising government investments in port development projects along with increasing foreign direct investments from Saudi Arabia and UAE.
North America accounted for more than 10% share of global revenue in 2017 due high product consumption by offshore drilling operations along with recreational boating activities on inland waterways throughout U.S.
Growth Factors:
- Increasing demand for marine system oil from the shipping and transportation sector as a result of the growth in global trade.
- Rising demand for marine system oil from the power generation sector due to increasing installation of new power plants across the globe.
- Growing use of marine system oil in offshore drilling activities to meet rising energy demands.
- Increasing investments in exploration and production activities, which is likely to lead to an increase in demand for marine system oils over the forecast period
Scope Of The Report
Report Attributes
Report Details
Report Title
Marine System Oil Market Research Report
By Type
Low Speed System Oil, Middle Speed System Oil, High Speed System Oil
By Application
Deep-sea, In-land/Coastal, Other
By Companies
ExxonMobil, Shell, Total, BP, Chevron, Sinopec, Quepet, JX Nippon, Lukoil, Gulf Oil, Idem Itsu
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
242
Number of Tables & Figures
170
Customization Available
Yes, the report can be customized as per your need.
Global Marine System Oil Market Report Segments:
The global Marine System Oil market is segmented on the basis of:
Types
Low Speed System Oil, Middle Speed System Oil, High Speed System Oil
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
Deep-sea, In-land/Coastal, 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:
- ExxonMobil
- Shell
- Total
- BP
- Chevron
- Sinopec
- Quepet
- JX Nippon
- Lukoil
- Gulf Oil
- Idem Itsu
Highlights of The Marine System 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:
- Low Speed System Oil
- Middle Speed System Oil
- High Speed System Oil
- By Application:
- Deep-sea
- In-land/Coastal
- 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 Marine System 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?
Marine system oil is a type of engine oil that is designed to protect marine engines. It contains high levels of antioxidants and other chemicals to prevent damage from oxidation. Marine system oil also has a higher viscosity than regular engine oils, which helps it resist becoming thick and clogging the engine.
Some of the major companies in the marine system oil market are ExxonMobil, Shell, Total, BP, Chevron, Sinopec, Quepet, JX Nippon, Lukoil, Gulf Oil, Idem Itsu.
The marine system oil market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Marine System Oil Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Marine System Oil Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Marine System Oil Market - Supply Chain
4.5. Global Marine System Oil Market Forecast
4.5.1. Marine System Oil Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Marine System Oil Market Size (000 Units) and Y-o-Y Growth
4.5.3. Marine System Oil Market Absolute $ Opportunity
5. Global Marine System Oil Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Marine System Oil Market Size and Volume Forecast by Type
5.3.1. Low Speed System Oil
5.3.2. Middle Speed System Oil
5.3.3. High Speed System Oil
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Marine System Oil Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Marine System Oil Market Size and Volume Forecast by Application
6.3.1. Deep-sea
6.3.2. In-land/Coastal
6.3.3. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Marine System Oil Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Marine System Oil Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Marine System Oil Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Marine System Oil Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Marine System Oil Demand Share Forecast, 2019-2026
9. North America Marine System Oil Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Marine System Oil Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Marine System Oil Market Size and Volume Forecast by Application
9.4.1. Deep-sea
9.4.2. In-land/Coastal
9.4.3. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Marine System Oil Market Size and Volume Forecast by Type
9.7.1. Low Speed System Oil
9.7.2. Middle Speed System Oil
9.7.3. High Speed System Oil
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Marine System Oil Demand Share Forecast, 2019-2026
10. Latin America Marine System Oil Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Marine System Oil Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Marine System Oil Market Size and Volume Forecast by Application
10.4.1. Deep-sea
10.4.2. In-land/Coastal
10.4.3. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Marine System Oil Market Size and Volume Forecast by Type
10.7.1. Low Speed System Oil
10.7.2. Middle Speed System Oil
10.7.3. High Speed System Oil
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Marine System Oil Demand Share Forecast, 2019-2026
11. Europe Marine System Oil Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Marine System Oil Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Marine System Oil Market Size and Volume Forecast by Application
11.4.1. Deep-sea
11.4.2. In-land/Coastal
11.4.3. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Marine System Oil Market Size and Volume Forecast by Type
11.7.1. Low Speed System Oil
11.7.2. Middle Speed System Oil
11.7.3. High Speed System Oil
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Marine System Oil Demand Share, 2019-2026
12. Asia Pacific Marine System Oil Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Marine System Oil Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Marine System Oil Market Size and Volume Forecast by Application
12.4.1. Deep-sea
12.4.2. In-land/Coastal
12.4.3. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Marine System Oil Market Size and Volume Forecast by Type
12.7.1. Low Speed System Oil
12.7.2. Middle Speed System Oil
12.7.3. High Speed System Oil
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Marine System Oil Demand Share, 2019-2026
13. Middle East & Africa Marine System Oil Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Marine System Oil Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Marine System Oil Market Size and Volume Forecast by Application
13.4.1. Deep-sea
13.4.2. In-land/Coastal
13.4.3. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Marine System Oil Market Size and Volume Forecast by Type
13.7.1. Low Speed System Oil
13.7.2. Middle Speed System Oil
13.7.3. High Speed System Oil
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Marine System Oil Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Marine System Oil Market: Market Share Analysis
14.2. Marine System Oil Distributors and Customers
14.3. Marine System Oil Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. ExxonMobil
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Shell
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Total
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. BP
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Chevron
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Sinopec
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Quepet
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. JX Nippon
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Lukoil
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Gulf Oil
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Idem Itsu
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook