DUBLIN--(BUSINESS WIRE)--The "Global Oil & Gas Lubricants Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
By 2040, the global demand for energy is expected to increase by 28% from the 2015 level. Despite the increasing share of renewables in the primary energy mix, oil & gas is expected to cater approximately half the increased demand. Despite concerns hovering around the oil prices, the uptake of more upstream, midstream, and downstream based projects is necessary to meet up with the increased demand, resulting in increased usage of mechanical equipment.
With fewer remaining easy-to-access oilfields and maturing production from existing basins, in both onshore and shallow-water, development of deep-water reserves has become increasingly vital. Moreover, advancements in technology have made deepwater drilling safer and economically viable. With the rebound of oil & gas prices to a sustainable level from witnessing a record low in January 2016, the uptake of offshore oil & gas projects is expected to witness a significant increase during the forecast period.
The GOM production in 2016 set an annual high of 1.6 million barrels per day (b/d), surpassing the previous record established in 2009, by 44,000 b/d. Market conditions are improving significantly amid rising oil prices, coupled with the support of a new and favorable administration with pro-energy policies that understand the strategic importance of a healthy oil & gas industry, exploration and production activities are expected to further increase in the United States.
- China LD Slewing Bearings Manufacturing Co Ltd
- Xibei Bearing Co. Ltd
- NSK Ltd
- Zhejiang Tianma Bearing
- ZYS Luoyang LYC Bearing
Key Topics Covered:
1. Executive Summary
2. Research Methodology
3. Market Overview
4. Market Dynamics
5. Value Chain Analysis
6. Industry Attractiveness - Porter's Five Force Analysis
7. Market Segmentation and Analysis
8. Regional Market Analysis
9. Key Company Analysis
10. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/research/dgpz7d/global_oil_and?w=4