Lubricating oil is used for reducing friction, heat, and wear between mechanical components in contact with one another. Lubricating oils are also known as lube. Lubricating oil employed in motorized vehicles are specifically known as motor oil or transmission fluid. In addition to fuel oil, lubricating oil also needs to have water and other impurities removed from it on a regular basis. The lubes of diesel engines get contaminated consistently. All rotating and sliding parts deposit the impurities. Solid contaminants or impurities in the fuel are refinery catalysts, rust, and dust, while the liquid impurity is primarily water. The residue of combustion process and condensed water decomposition products are added factors leading to the impurity of lube oils.
The lubricating oils themselves may contain some acid, which by catalyzing with other foreign substance, can result in premature aging of the oil. These impurities cause significant wear of engine components and ultimately lower engine performance, occasionally leading to engine failure. Thus, it is highly important to remove and treat the lube oil, so as to prolong its life and reduce the wear of engine components. Lube oil is treated and conditioned by the usage of a system of filters and separators to meet cleanliness, pressure, temperature, viscosity, and flow rate specified by engine manufacturers. Lubricating oil treatment system generally consists of centrifuges, lube oil outlet pressure control manifold, heaters for conditioning of the lube oil, feed pumps for the lube oil, and filters. Key application of lubricating oil treatment system is in the maritime industry, automobile industry, power generation industry and other industries where the usage of engines is frequent. In the maritime industry, lubricants play an important role, and they must be observed continuously for their properties. It is necessary to have a lubricant oil treatment facility on board the ships due to the fact that ships are always transporting goods across continents and rarely have the time to change these lubricants regularly when on the shore.
Demand for high efficiency engines and strict and high emission standards are driving the lubricating oil treatment market. The lubricant utilized in the engine must have requisite properties specified by engine manufactures to achieve high emission standards and high efficiency. The regular treatment of the lube oil is necessary to maintain those properties. The impure lubricant is treated, conditioned, and reused, Thus, reducing the risk of environment pollution by used oil. The idea of reuse and recycle is in trend, and thus is anticipated to drive the lubricating oil treatment market. A significant and major restraint to the market is the rising trend of electric vehicles, which are estimated to completely replace traditional gasoline & diesel engine vehicles. Another restraint that is also likely to have an adverse effect is the augmented usage of synthetic oils. Synthetic oils are more expensive than lubricating oils; however, they still pose a significant challenge to the market.
The lubrication oil treatment market in the North America, Europe and Asia Pacific is projected to expand at a high growth rate, as shipping trades are significant in these regions. In Asia Pacific, countries such as China and India have significant populations, and despite the environmental crises, the demand for diesel engine vehicles is high in these countries. This, in turn, is estimated to pose an opportunity for the lubricating oil treatment market.
Key as well as potential players operating in the global lubricating oil treatment market include GEA Group, DSE Oil and Gas B.V., RJH Consultancy Inc. ALFA LAVAL, Bell Performance, Dura Lube, Daya Lubricants Pvt Ltd., and WILHELMSENGROUP.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.