Market overview:
The Global Aviation Lubricants Market was calculated to be 2 billion US dollars in 2020 that is estimated to reach a value of 2.9 billion US dollars by 2025 at a CAGR of 7.2% during the envisioned period of 2021 to 2026.
Recent Developments
In the month of August 2020, Idemitsu Kosan Co Ltd company from Japan has transferred all the shares of shell lubricants and has entered into an agreement with shell overseas holdings limited.
In the month of August 2019, total lubrifiants acquired Houghton international of its aluminium hot rolling oil, steel cold rolling oil and tinplate rolling oil activities in North American and European Economic Area networks.
Market Drivers and Restrains:
The global Aviation Lubricants market is estimated to grow at a significant rate as there is large, existing and growing of commercial and military aviation fleet, increasing demand for low density lubricants for reduced weight. Also, increasing acquisitions, product launches, and agreements are some of the major growth factors of Aviation Lubricants business across globe. Contamination of lubricant oils are some of the restraints that is hindering the growth of the worldwide Aviation Lubricants market.
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Report is segmented as:
The global Aviation Lubricants market is segmented on the basis of end user, type, technology, application, platform. By type, the market of Aviation Lubricants is segmented into engine oil, grease, hydraulic fluid, special lubricants and additives. By technology, the market of Aviation Lubricants is segmented into mineral based and synthetic. By end user, the Aviation Lubricants market is segmented into aftermarket and OEM. By application channel, the market of Aviation Lubricants market is segmented into hydraulic systems, engine, landing gear, airframe and other applications. By platform, the market of Aviation Lubricants is divided into military aviation, commercial aviation, business and general aviation.
Geographical Segmentation:
North America region is expected to have a significant growth of market owing to the presence of major aircraft manufacturers such as Boeing, Embraer and others. North America is also determined to hold the dominance of the market over the outlook period. Asia Pacific region holds the second largest share of the market due to the increase in acquisitions as well as investments for the new technological advancements in the Asia Pacific region.
Impact of COVID-19 on Aviation Lubricants Market
Due to coronavirus pandemic, all the industries including the Aviation Lubricants related industries are facing a lot of difficulties since the manufacturing and production units have been halted due to the lockdown situations. In addition to this, the Aviation Lubricants demand has been reduced due to the unavailability of workforce to look after the operations that in turn resulted the companies to suffer financial crisis due to the COVID-19 outbreak. As per the analysis, the market of Aviation Lubricants is expected to boost up the revenue rate post coronavirus.
Key market players:
Major players of Aviation Lubricants market include Royal Dutch shell, Exxonmobil, Total, BP, Lukoil, Phillips 66, Eastman chemical company, Nyco, Nye lubricants.
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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