Turbine Drip Oil Market Size, Share & Industry Analysis, By Grade ( Traditional, Premium ), By End-User ( Oil & Gas, Power, Water Utility, Agriculture, Others ) and regional Forecast, 2024-2032

Turbine drip oil is a mineral-based lubricant used to lubricate bearings found in vertical shaft driven well turbine pumps. It has an excellent viscosity index, which makes it useful in high-temperature applications. Drip oil premium is ultra-refined, ultra-clear Group 2 base oil. It does not contain any harmful additives that may contaminate underground water supplies. The very high viscosity index minimizes changes in viscosity due to temperature variations. This results in a consistent flow of lubrication. Turbine drip oil is used in several applications such as irrigation pumps, deep well turbine pumps, and in the utility industry.

The global turbine drip oil market is classified into grade and end-user. The grade segment is further divided into traditional and premium. Premium turbine drip oil is a highly refined lubricant that is suitable for irrigation and deep well turbine pumps. Turbine drip oil is used in several industries such as oil & gas, power, water utility, agriculture, and others.

Mineral-based lubricants provide a higher quality of solubility when used with additives. They do not pose any risk to the environment will increase the demand for turbine drip oil in the market. Moreover, turbine drip oil is less expensive as compared to synthetic oil, which broadens up growth opportunities that drive the market.

Oil & gas industry going through a tough phase due to the coronavirus outbreak, which stalled all the economic activity around the world. The uncertainties surrounding due to the spread of virus deterring investors which likely to impede the growth.

Key Players Covered:

• Some of the major producers of turbine drip oil are Chevron, CHS Inc., Mystik Lubricants, Royal Mfg Co., Sinclair Oil Corporation, Texas Refinery Corp, and United Lubricants.

Regional Analysis:

The turbine drip oil market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The majority of the turbine drip oil is used in the hydrocarbon and power industry. North America shows slight growth in the expansion of the turbine drip oil market. A substantial investment in small hydropower plants and thermal power plants likely to provide impetus to the market. Asia Pacific is projected to dominate the market owing to extensive investment by emerging economies such as India and China in power plants to enhance electricity supply. Europe and Latin America are gaining traction owing to the adoption of bio-based lubricants in oil & gas as well as the utility industry.

Segmentation

Key Industry Developments

• In July 2018, Davis & Shirtliff launched irrigation segment for its all branches in Kenya’s 24 counties in a bid to make their products more accessible to customers. The launch of new business segment makes commercial and agricultural irrigation equipment’s readily accessible to farmers. The product range include controllers, valves, pop ups sprinklers, drip line systems and centre pivots.