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Asia Pacific Turbine Oil Market Trends

Report ID: GMI9203
Published Date: Apr 2024
Report Format: PDF

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Asia Pacific Turbine Oil Market Trends

The increasing concern toward equipment efficiency and reliability by end users will offer substantial business opportunities for business expansion. Continued progress in lubricant technology including enhanced oxidation resistance, thermal stability and anti-wear capabilities will augment the industry landscape. This pattern entails consistent monitoring of turbine oil quality and equipment status, resulting in optimized maintenance timetables and enhanced overall turbine efficiency.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

Asia Pacific turbine oil market size was valued at USD 1,547.5 million in 2023 and is anticipated to grow at 4.8% CAGR till 2032, driven by increasing demand for electricity.

Asia Pacific hydro turbine oil market size from the hydro turbine application segment will witness over 4.5% CAGR from 2024 to 2032, owing to stricter environmental regulations along with ongoing advancements in lubricant technology.

China turbine oil market is set to surpass USD 700 million by 2032, attributed to increasing investments in the construction of new power plants and the maintenance of existing units.

Afton Chemical, BP p.l.c., Castrol, Eastern Petroleum, Eastman Chemical Company, Exxon Mobil Corporation, FUCHS, Idemitsu, Indian Oil Corporation Ltd., Kluber Lubrication, Lubrizol, NYCO, Paras Lubricants Ltd., Penrite Oil, PETRONAS, Quaker Chemical Corporation, Repsol, Shell, TotalEnergies and Valvoline Global.