Bio-lubricants Market 2019 by Opportunities, Key Developments, Types, Applications, Size, Key Drivers, Challenges, Opportunities, & Forecast
This “Bio-lubricants Market” report provides a detailed study on market and how it is impacting the industry. The report includes details of emerging trends, growth history, sales channel, manufacturers profiled in business, market share of product, application and regional scope of industry. In addition, the report also mentions opportunities that manufacturers operating in the global Bio-lubricants market can use for expanding their business in untapped market to increase their customer base.
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Bio-lubricants Market Covers Manufacturers:
Scope of the Report:
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Key Market Trends:
Increasing Demand from Power Generation
– Power generation is one of the most important sectors for the global economy, without which, almost all manufacturing operations may come to an end. Advancements in manufacturing technologies are resulting in the commencement of various new plants, which, in turn, are increasing the demand for electricity in various end-user industries.
– Turbines play a key role in the energy sector for generating electricity. Irrespective of the source of electricity, i.e., wind, solar, hydro, thermal, etc., turbines are widely used for power generation. In general, other than turbines, the major components in the power generation sector include pumps, bearings, fans, compressors, gears, and hydraulic systems. Wind turbines are subjected to many factors, such as humidity, high pressure, high loads, vibrations, and temperature. Gear and turbine oils are widely used in this sector for lubrication purposes.
– Many companies are already well aware that reducing the total cost of ownership (TCO) over the lifetime of machinery is the key to extracting the best possible value from the investment. However, the impact of lubrication on TCO is too often underestimated. In general, the cost of lubricants accounts for less than 5% of a power generation company’s total operational expenditure.
– According to an international industry study, commissioned by Shell Lubricants, the savings opportunity is recognized, but undervalued. About 58% of the companies recognized that lubricant selection can help reduce costs by 5% or more. However, fewer than one in 10 (8%) realized that the impact of lubrication could be up to six times greater.
– All the aforementioned factors are expected to drive the global market, during the forecast period.
Asia-Pacific to Dominate the Market
In Asia-Pacific, China is third-largest bio-lubricant consumer in the APAC region, with an economic growth of 6.9%, in 2017. With growing middle class, along with urbanization of Western China, there has been an increase in the demand and production of vehicles in the country. Additionally, the country’s focus to gradually shift toward electric vehicles is expected to hinder the country’s demand for bio-lubricants, such as engine oil, gear oil, etc.
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Target Audience of Bio-lubricants Market:
- Manufacturer / Potential Investors
- Traders, Distributors, Wholesalers, Retailers, Importers and Exporters.
- Association and government bodies.
Key Reasons to Bio-lubricants Market Report:
- Analyzing various perspectives of the Bio-lubricants market with the help of Porter’s five forces analysis
- The End User that is expected to dominate the Bio-lubricants market is analyzed in detail
- The regions which are expected to witness fastest growth during the forecast period are analyzed and estimated for growth of Bio-lubricants market.
- Identify the latest developments, market shares and strategies employed by the major market players.
- Regional analysis of Bio-lubricants market studied, during the forecast period
- The segments that are expected to dominate the Bio-lubricants market studied.
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