LONDON–(BUSINESS WIRE)–Technavio has announced the top five leading vendors in their recent global mineral-oil-based lubricants market report. This research report also lists nine other prominent vendors that are expected to impact the market during the forecast period.

Competitive vendor landscape

The global mineral-oil-based lubricants market is highly fragmented with the presence of many local, regional, and international players ranging from small to large vendors. On one side there are vertically integrated petroleum companies whose main business is the discovery, extraction, and refining of crude oil. Hence, lubricants account for only a very small part of their business. The independent lubricant companies mainly concentrate on manufacturing lubricants and their marketing as their core business, where comprehensive customer service is also a part of the package. While the large, integrated companies, the focus is on the production of high-volume lubricants such as engine oil, gear oil, and hydraulic oils.

“With the increase in competition, the market has been witnessing consolidation where smaller entities are being acquired by or merged with major players. Thus, the market is highly competitive, and the competition in the market is expected to intensify over the next four years with an increase in product extensions and technological innovations,” says Vishu Rai, a lead analyst at Technavio for oil and gas sector.

Top five vendors for mineral-oil-based lubricants

BP

BP was established in 1909 and is headquartered in London, UK. It is an international oil and gas company that provides energy products and services worldwide. In FY2014, the company reported a total revenue of USD 353.5 billion.

Under the lubricants segment, the company focuses on premium brands and growth markets besides leveraging technology and customer relationships. The company manufactures and markets lubricants and related products and services, which cater to the automotive, marine, industrial, and energy markets worldwide. They also provide quality lubricants and high-performance fluids for on-road, off-road, at-sea and industrial applications worldwide.

CNPC

CNPC was established in 1988 and is headquartered in Beijing, China. It is an integrated energy company. It has oil assets and interests in around 38 countries, including in Africa, Central Asia-Russia, the Americas, Middle East, and APAC. Its business includes petroleum exploration and production, refining and marketing, natural gas and pipelines, oilfield services, petroleum equipment manufacturing, engineering construction, and new energy development. The company also undertakes capital management, and finance and insurance services. For FY2014, the company generated revenue of USD 443.53 billion.

ExxonMobil

ExxonMobil was established in 1882 and is headquartered in Irving, US. The company manufactures petroleum products and explores, produces, transports, and sells crude oil, natural gas, and petroleum products such as olefins, aromatics, polyethylene and polypropylene plastics, and a wide variety of specialty products.

ExxonMobil operates in the US and most other countries of the world. Its product portfolio includes Exxon, Mobil, Esso, Mobil 1, and Xto Energy.

Royal Dutch Shell

Royal Dutch Shell was incorporated in 2002 and is headquartered in The Hague, the Netherlands. It is an independent oil and gas company. The company has an integrated operational structure with investments in the oil and gas value chain. For FY2014, the company spent USD 1,222 million toward its R&D and reported a revenue of USD 431,344 million (including the company’s share of profit of joint ventures and associates).

Saudi Aramco

Saudi Aramco was founded in 1933 and is headquartered in Dhahran, Saudi Arabia. The company offers hydrocarbon exploration, refining, production, distribution, shipping, and marketing services. They also exports crude oil and NGLs. The company has more than 61,000 employees in 77 countries.

Saudi Aramco has subsidiaries in Saudi Arabia, India, the Netherlands, the UAE, Republic of Korea, Japan, Egypt, China, and the UK. The company reported domestic sales of 659.21 million of barrels in FY2014.

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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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