Aviation Lubricants Market Size, Industry Analysis Report By Type (Engine Oil, Hydraulic Fluid, Special Lubricants and Additives, Grease), By Application (Engine, Hydraulic Systems, Landing Gear), By End User (OEM, Aftermarket) & Region – Forecast By 2030
- PUBLISHED ON
- 2024-09-27
- NO OF PAGES
- 284
- CATEGORY
- Aerospace & Defense
The global aviation lubricants market reached a value of US$ 1.99 Billion in 2022 and the market is expected to reach US$ 2.96 Billion by 2030, exhibiting a CAGR of 6.99% over the forecast period.
Market - Growth Factors
The expansion of the worldwide aerospace lubricant market is being driven by the need to increase fuel economy and higher efficiency along with the fulfillment of fuel emission regulations.
Market – Market Trends
• In recent years, the movement to promote environmentally friendly products has gained momentum across industries, and its impact has extended to the market for aviation lubricants.
• Producers and end users are currently considering biodegradable alternatives to current aviation lubricants as a way to lessen the harmful effects of these lubricants on the environment. Bio-based oils, which are swiftly gaining popularity, typically consist of vegetable oil and are sourced from plant-based, renewable sources.
• Rapid industrialization has seen a rise in air travel in recent years, and they predict that trend will continue during the forecast period.
Market – Segmentation
By Type
• Engine Oil
• Hydraulic Fluid
• Special Lubricants and Additives
• Grease
By Application
• Engine
• Hydraulic Systems
• Landing Gear
• Others
By End User
• OEM
• Aftermarket
Regional Analysis
By volume, North America accounted for almost one-third of the global market for aviation lubricants in 2020, holding the largest market share.
Key Market players
The major players in the market are: Aerospace Lubricants Inc., Eastman Chemical Company, Exxon Mobil Corporation, Whitmore Manufacturing LLC, Lanxess AG, Lukoil, Nyco, Nye Lubricants Inc. (Fuchs Petrolub SE), Rocol (Illinois Tool Works Inc.), Royal Dutch Shell plc, Tecsia Lubricants Pte Ltd and The Chemours Company.
Quality Assurance Process
- We Market Research’s Quality Assurance program strives to deliver superior value to our clients.
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
- Project kickoff meeting with client
- Conduct frequent client communications
- Form project steering committee
- Assign a senior SR executive as QA Executive
- Conduct internal editorial & quality reviews of project deliverables
- Certify project staff in SR methodologies & standards
- Monitor client satisfaction
- Monitor realized value post-project
Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
The global aviation lubricants market reached a value of US$ 1.99 Billion in 2022 and the market is expected to reach US$ 2.96 Billion by 2030, exhibiting a CAGR of 6.99% over the forecast period.
What are the drivers shaping various markets?
The expansion of the worldwide aerospace lubricant market is being driven by the need to increase fuel economy and higher efficiency along with the fulfillment of fuel emission regulations. Because of the falling cost of travel, there has been an increase in the number of aircraft, which has greatly aided the growth of the aerospace lubricant market.
Who are the key competitors of market Players?
Some of the major players operating within the market are Aerospace Lubricants Inc., Eastman Chemical Company, Exxon Mobil Corporation, Whitmore Manufacturing LLC, Lanxess AG, Lukoil, Nyco, Nye Lubricants Inc. (Fuchs Petrolub SE), Rocol (Illinois Tool Works Inc.), Royal Dutch Shell plc, Tecsia Lubricants Pte Ltd and The Chemours Company.
What are the top performing segments, and countries / regions of each of the markets?
North America accounted for almost one-third of the global market for aviation lubricants in 2020, holding the largest market share.
}})
Select a license type that suits your business needs
US $3499
Only Three Thousand Four Hundred Ninety Nine US dollar
- 1 User access
- 15% Additional Free Customization
- Free Unlimited post-sale support
- 100% Service Guarantee until achievement of ROI
US $4499
Only Four Thousand Four Hundred Ninety Nine US dollar
- 5 Users access
- 25% Additional Free Customization
- Access Report summaries for Free
- Guaranteed service
- Dedicated Account Manager
- Discount of 20% on next purchase
- Get personalized market brief from Lead Author
- Printing of Report permitted
- Discount of 20% on next purchase
- 100% Service Guarantee until achievement of ROI
US $5499
Only Five Thousand Four Hundred Ninety Nine US dollar
- Unlimited User Access
- 30% Additional Free Customization
- Exclusive Previews to latest or upcoming reports
- Discount of 30% on next purchase
- 100% Service Guarantee until achievement of ROI