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Gas Turbine Oil Market Trends

Report ID: GMI10865
Published Date: Aug 2024
Report Format: PDF

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Gas Turbine Oil Market Trends

The end-users are placing greater emphasis on equipment efficiency and reliability, creating substantial opportunities for business expansion. These oils provide essential benefits comprising of improved protection against foaming, corrosion and deposit formation, enhancing the industry outlook. Additionally, the adoption of condition monitoring systems and proactive maintenance practices is on the rise, driving the product deployment. This trend involves the regular assessment of turbine oil quality and equipment condition, enabling optimized maintenance schedules and boosting overall turbine performance.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of gas turbine oil was reached USD 1.39 billion in 2023 and is estimated to grow at a 4.9% CAGR through 2032, due to the growing demand for electricity coupled with the robust expansion of clean & reliable power generation capacities

The mineral oil-based gas turbine oil market will exceed USD 950 million by 2032, owing to their reliable performance in various gas turbine applications, particularly in older and less demanding systems.

Middle East & Africa gas turbine oil industry is set to surpass USD 650 million by 2032, led by strong focus on oil and gas exploration along with increasing demand for reliable power generation.

Afton Chemical, BP p.l.c., Castrol, Chevron U.S.A. Inc., Eastern Petroleum, Eastman Chemical Company, Exxon Mobil Corporation, FUCHS, Idemitsu, and Kluber Lubrication.