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The demand for alternative fuels is in continuous rise
in the power and transportation industry. This is mainly because of their low
cost nature, lower CO2
emission compared to other fuels. The world population will reach 9 billion
by 2050 from 7 billion as of 2014; this will increase the energy demand in
future. Researchers predict that one
fifth of the energy demand in 2050 will be fulfilled by natural gas.
Natural gas use in
transportation is in the early phase of development. The gradual shift in
demand for natural gas engine powered vehicles around the globe especially in
U.S. and Europe will drive the demand for natural gas consumption. Due to
government legislation and regulation surrounding hazardous gas emission and
lower fleet operating costs, the demand for natural gas engine is expected to
increase.
Electric power sector is the largest consumer of
natural gas in the U.S., followed by transportation sector. According to the
U.S. Energy Information Administration (EIA), out of the total energy demand
for electric sector, 25% demand was met by natural gas in the U.S. in 2013.
Whereas, the percentage is quite low in transportation but due to the
increasing sale of natural gas engines, the demand for natural gas is expected
to grow exponentially in this sector. One of the great benefits in natural gas
production is that, it can be converted to liquid form as well. Shell, a global
oil giant has built the world’s largest gas to liquid (GTL) plant in Qatar in
2015, which will convert natural gas to liquid fuels and other lubricants. However,
there are some challenges in storing the natural gas. Unlike other fossil
fuels, natural gas cannot be stored on site and must be delivered for
consumption. This barrier can be overcome with superior natural gas refuelling
infrastructure.
Lubricants have direct
impact on the efficiency of any machine. The efficiency of natural gas engine
can be improved if right engine oil is used. Lubrizol Corporation, Infineum
(Infineum M Series) produce and market engine oil additives packages which are
compatible with engine oil formulated for natural gas engine. Improvement in
technology will drive the growth of natural gas engine. Leading companies are
investing huge amount in R&D to develop more efficient lubricants for
natural gas engine and are preparing themselves for the future changes in the
industry.
Related
Report:
·
Engine Oil Additive Market: By Type (Anti-Oxidants, Detergents, Dispersants, Anti-Wear
Additives, VI Improvers, Corrosion Inhibitors, Friction Modifiers, PPD,
Others); By Engine Type (Gasoline Engine Oil Additives, Diesel Engine Oil
Additives, Natural Gas Engine Oil Additives); By End User; By Geography –
Forecast (2014 – 2020) https://www.industryarc.com/Report/7509/engine-oil-additives-market.html