Publish Date: 2021-02-15
The Global Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
Aviation lubricants play a vital role in smooth operation of an aircraft. Aviation lubricants are used to reduce friction and wear & tear of moving elements in an aircraft. Aviation lubricants are also used for cleaning, sealing, cooling, and to resistant corrosion and rusting of different elements. The aviation lubricants have witnessed prominent growth during past decade primarily due to the expansion of commercial aircraft fleets fueled by the growth of air traffic across the emerging economies. The rise in passenger and freight movement has significantly contributed towards the growth of commercial aviation, thereby increasing the number of commercial and general aviation aircrafts globally. This has contributed towards the growth of the aviation lubricants. Rising investment in military aviation, growing deliveries of civil aircraft, and increased investment in development of advanced aviation lubricants is expected to bolster the growth of the global aviation lubricant market during the forecast period.
Efficient cooling and prevention against weathering facilitated by engine oil to drive the growth of market
The global aviation lubricants market is segmented on the basis of type, technology, aviation type, applications, end users, and geography. Based on type, the global aviation lubricants market is segmented into hydraulic fluid, engine oil, grease, and others. The engine oil segment contributed the largest share to the global aviation lubricant market in 2019 and is anticipated to be a dominating segment throughout the forecast period. The engine oil helps in providing thrust to the engine, facilitates efficient cooling, sludge, rust and corrosion formation during engine operations thereby improving engine efficiency. Rising demand for aircraft engines from commercial aviation is expected to drive the growth of the engine oil segment during the forecast period. The hydraulic fluid segment is anticipated to grow significantly during the forecast period.
Rapid growth of commercial aviation and increasing number of commercial aircraft deliveries is driving the demand for aviation lubricants
Based on aviation type, the global aviation lubricant market is segmented into military aviation, commercial aviation, general aviation, business aviation, and others. The commercial aviation segment contributed a dominating share to the global market in 2019 owing to increased air passenger movement and increasing number of commercial aircraft deliveries globally. Increased per capita income and declining air fare have contributed towards the growth of commercial aviation and is anticipated to accelerate the growth of aviation lubricant market during the forecast period. The military aviation is anticipated to witness prominent growth during the forecast period owing to increased military and defense spending across the globe.
Based on geography, the global aviation lubricants market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific held the largest share of the global aviation lubricant market in 2019 and is anticipated to be the fastest growing segment throughout the forecast period. Increased investment in expanding the commercial fleets, emergence of new general aviation companies, and rising military spending across major countries in Asia is anticipated to drive the growth of the Asia Pacific aviation lubricant market during the forecast period. North America is anticipated to witness prominent growth during the forecast period owing to rising demand from aircraft OEMs across the military and commercial aviation.
Major players active in the global aviation lubricants market include Aerospace Lubricants Inc, bp p.l.c., CASTROL LIMITED, Chevron Corporation, China Petroleum & Chemical Corporation, Eastman Chemical Company, Exxon Mobil Corporation, FUCHS, Inox Lubricants, Lanxess AG, NYCO, Nye Lubricants, Inc., Petróleo Brasileiro S.A., Phillips 66 Company, Quaker Chemical Corporation, Royal Dutch Shell PLC, The Chemours Company, The PJSC Lukoil Oil Company, and Total S.A.
insightSLICE is a market intelligence and strategy consulting company. The company provides tailor-made and off the shelf market research studies. The prime focus of the company is on strategy consulting to provide end-to-end solutions. For more details please contact our research and consulting team at email@example.com.