North America Oil & Gas Lubricants Market

North America Oil & Gas Lubricants Market by Locations (Onshore and Offshore), Product Types (Grease, Coolant/Anti-freezer, Engine Oils, Hydraulic Fluids, and Other Product Types), Sectors (Upstream, Midstream, and Downstream) and Geography (The US, Canada, Mexico, and Rest of North America) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: MC-2154
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 155
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The North America oil & gas lubricants market size is projected to register a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the gradually increasing number of vehicles in the US and Canada.

North America Oil & Gas Lubricants Market Key Takeaways

Oil is an adherent liquid that is obtained from petroleum and is used as a fuel or a lubricant. A compact lubricant substance helps in minimizing the friction, wear & tear, and heat between mechanical components that are in contact with each other. Oil & gas lubricants play a prominent role in preventing the downtime and cooling and protecting the machinery mechanism.

The main objective of using oil & gas lubricant is to prevent corrosion and oxidation in the engine and control the nitration. The end-users of the lubricants market include automobiles, aviation, and manufacturing industries.

Market Trends, Drivers, Restraints, and Opportunities

  • Proliferating demand for high powered engines is anticipated to boost the market growth.
  • Rising research & development (R&D) in the oil & gas industry can drive the growth of the market.
  • Growing demand for high-quality and cost-effective lubricants can propel the market growth.
  • Alternatives of lubricants in terms of noxious and hazardous substance can diminish the growth of the market.
  • The COVID-19 pandemic had resulted in the supply chain disruption, which led to the delay in the production of the lubricants. However, the relaxation in restrictions due to acceleration in the manufacturing industry is expected to boost the production of lubricants.
  • Increasing demand for lubricants in the aviation industry can create lucrative opportunities for emerging players and new entrants in the market.

Scope of the Report

The report on the North America oil & gas lubricants market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Oil & Gas Lubricants Market - North America Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Locations (Onshore and Offshore), Product Types (Grease, Coolant/Anti-freezer, Engine Oils, Hydraulic Fluids, and Other Product Types), Sectors (Upstream, Midstream, and Downstream)

Geographical Scope

The US, Canada, Mexico, and Rest of North America

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Chevron Corporation; Lubrication Engineers Inc.; Exxon Mobil Corporation; LUKOIL; and Schlumberger Limited

North America Oil & Gas Lubricants Market Segment Insights

Offshore segment is expected to grow at a robust pace

Based on locations, the market is divided into onshore and offshore. The offshore segment is expected to grow at a robust pace during the forecast period owing to easy availability of oil reserves in the seabed. However, the onshore segment is anticipated to hold a key share of the market in the coming years owing to rapid industrialization of lubricant production, spurring the market segment growth.

North America Oil & Gas Lubricants Market By Locations

Engine oils segment is projected to expand at a healthy CAGR

On the basis of the product types, the market is segregated into grease, coolant/anti-freezer, engine oils, hydraulic fluids, and other product types. The engine oils segment is projected to expand at a healthy CAGR during the forecast period. Increasing demand for vehicles owing to rising disposable income is expected to fuel the segment growth. On the other hand, the grease segment is anticipated to account for a major market share during the forecast period owing to the rise of automation and technology mechanisms in various industries, which can boost the market segment growth.

North America Oil & Gas Lubricants Market By Product Types

Downstream segment is expected to exhibit a high CAGR

In terms of sectors, the market is divided into upstream, midstream, and downstream. The downstream segment is expected to exhibit a high CAGR during the forecast period accounting to the high sales and usage of lubricants by the end-users and industrial players. However, the upstream sector segment is anticipated to hold a significant share of the market in the coming years owing to increasing exploration and production of petroleum-based derivatives.

Mexico is anticipated to anticipated to hold a large market share

In terms of regions, the market is classified as the US, Canada, Mexico, and Rest of North America. The market in Mexico is anticipated to hold a large market share during the projected period owing to huge amount of on-shore oil reserves reaching their maturity stage. However, the market in the US is anticipated to expand at a robust pace during the forecast period on account of sustainable development of seabed, where operators continue to discover the new reserves.

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Oil & Gas Lubricants Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Oil & Gas Lubricants Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Oil & Gas Lubricants Market - Supply Chain
  4.5. Global Oil & Gas Lubricants Market Forecast
     4.5.1. Oil & Gas Lubricants Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Oil & Gas Lubricants Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Oil & Gas Lubricants Market Absolute $ Opportunity
5. Global Oil & Gas Lubricants Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Oil & Gas Lubricants Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Oil & Gas Lubricants Demand Share Forecast, 2019-2026
6. North America Oil & Gas Lubricants Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Oil & Gas Lubricants Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Oil & Gas Lubricants Demand Share Forecast, 2019-2026
7. Latin America Oil & Gas Lubricants Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Oil & Gas Lubricants Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Oil & Gas Lubricants Demand Share Forecast, 2019-2026
8. Europe Oil & Gas Lubricants Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Oil & Gas Lubricants Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Oil & Gas Lubricants Demand Share Forecast, 2019-2026
9. Asia Pacific Oil & Gas Lubricants Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Oil & Gas Lubricants Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Oil & Gas Lubricants Demand Share Forecast, 2019-2026
10. Middle East & Africa Oil & Gas Lubricants Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Oil & Gas Lubricants Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Oil & Gas Lubricants Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Oil & Gas Lubricants Market: Market Share Analysis
  11.2. Oil & Gas Lubricants Distributors and Customers
  11.3. Oil & Gas Lubricants Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Chevron Corporation Lubrication Engineers Inc. Exxon Mobil Corporation LUKOIL Schlumberger Limited
Segments Covered in the Report
The North America oil & gas lubricants market has been segmented on the basis of

Locations
  • Onshore
  • Offshore
Product Types
  • Grease
  • Coolant/Anti-freezer
  • Engine Oils
  • Hydraulic Fluids
  • Other Product Types
Sectors
  • Upstream
  • Midstream
  • Downstream
Geography
  • The US
  • Canada
  • Mexico
  • Rest of North America
Key Players
  • Chevron Corporation
  • Lubrication Engineers Inc.
  • Exxon Mobil Corporation
  • LUKOIL
  • Schlumberger Limited

Key players competing in the North America oil & gas lubricants market are Chevron Corporation; Lubrication Engineers Inc.; Exxon Mobil Corporation; LUKOIL; and Schlumberger Limited.

In August 2021, Imperial Oil Ltd., a Canada-based petroleum company, associated with Exxon Mobil Corporation with plans on producing and providing renewable diesel at the complex refinery.

In August 2021, Chevron Corporation expanded the partnership with Brightmark LCC, a global waste solution company, to produce dairy bio-methane, a renewable compressed natural gas.

In August 2021, LUKOIL started its first exploration activity located in the Southern area of the Gulf of Mexico for the discovery of oil reserves.

North America Oil & Gas Lubricants Market By Key Players

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