It is no secret that engine manufacturers from around the globe have been actively working to develop and fine-tune more efficient engines that run on cleaner and more sustainable fuels. A significant fruit of that effort is the development and subsequent adoption of natural gas-powered engines for off-highway applications.
This shift to renewable energy represents a major opportunity for lubricant marketers, David Tsui, a project manager in consulting firm Kline & Co.’s Energy practice, said in an online webinar in late May. The opportunities are especially prevalent for marketers that have strong ties with original equipment manufacturers, he said.
The webinar was centered around Kline’s study “Natural Gas Engine Oils: Global Market Analysis and Opportunities.” The study explored demand for natural gas engine oils in select markets around the world in non-transport applications and used 2021 as the base year. Such markets as oil and gas, power plant, pipeline, agriculture, and commercial and residential were included in the study. However, transport applications, like buses and trucks, ships and cars were excluded from the study.