The synthetic ester lubricants for energy and power market size was valued at US$ 323.17 million in 2024 and is expected to reach US$ 481.66 million by 2031; it is estimated to register a CAGR of 6.1% from 2025 to 2031.

Global electrification efforts and energy efficiency initiatives by governments and utilities present further momentum for synthetic ester lubricant adoption. The US Energy Information Administration reports increasing electrification of industrial processes and rising demand for cleaner, more efficient power generation technologies. Advanced lubricants like synthetic esters decrease friction and wear in turbines, compressors, and generators, improving overall plant efficiency and reducing fuel consumption and greenhouse gas emissions. Policies supporting energy efficiency upgrades and renewable integration provide incentives for power plants to upgrade to advanced lubricant technologies. Energy companies prioritize sustainability, reliability, and reduced total cost of ownership, driving a shift from traditional mineral oils to synthetic esters with superior performance, longer oil drain intervals, and smaller environmental footprints. This growing emphasis on sustainable, high-efficiency energy infrastructure inherently supports the synthetic ester lubricants market's sustained growth.

In terms of product type, the market is segmented into engine oil, hydraulic oil, gear oil, transformer oil, immersion cooling fluids, refrigeration oil, grease, turbine oil, metalworking fluids, and others. The turbine oil segment accounted for the largest synthetic ester lubricants for energy and power market share in 2024. Synthetic ester-based turbine oils offer exceptional thermal and oxidative stability, high viscosity index, and excellent lubricity. These qualities enable turbine oils to maintain optimal viscosity and film strength under extreme temperature variations and heavy mechanical loads, ensuring reliable operation of turbines in power plants, aviation, and industrial compressors. Ester-based turbine oils prevent deposit formation, sludge, and varnish buildup, which helps minimize maintenance costs and extends oil and equipment life. Their superior oxidation resistance supports longer oil change intervals, improving operational efficiency. Further, the biodegradability and low toxicity of ester-based turbine oils align with growing environmental regulations and the push for sustainable energy solutions, making them the lubricant of choice in modern turbine systems.

Asia Pacific dominated the synthetic ester lubricants for energy and power market share in terms of revenue in 2024. Asia Pacific has emerged as the fastest-growing region for synthetic ester lubricants in energy and power applications, driven by rapid industrialization, massive renewable energy expansion, and evolving regulatory frameworks. China leads regional growth, having installed approximately 2,920 GW of electricity generation capacity and establishing itself as the world's largest renewable energy producer. The International Energy Agency supports technical collaboration programs across Asia Pacific nations to upgrade power generation infrastructure, with synthetic ester lubricants playing critical roles in gas turbine, steam turbine, and hydroelectric systems. China's aggressive deployment of wind turbines requires synthetic ester gear oils formulated to international standards, while India's expanding power generation sector increasingly adopts synthetic esters to improve turbine efficiency and reduce operational costs.

Some of the key players operating in the global synthetic ester lubricants for energy and power market include China Petroleum & Chemical Corp (Sinopec), Exxon Mobil Corp, BP Plc, Chevron Corp, TotalEnergies SE, Valvoline Inc, ENEOS Corp, Fuchs SE, Repsol SA, and Shell Plc. Players operating in the synthetic ester lubricants for energy and power market focus on providing high-quality products to fulfill customer demand. Also, they are focusing on launching new and high-quality products for their customers.

The overall global synthetic ester lubricants for energy and power market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the synthetic ester lubricants for energy and power market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the synthetic ester lubricants for energy and power market.