Compressor Oil Market Size, Share and Forecast 2021-2026

Press Release:

Global Compressor Oil Market to Reach US$ 12.9 Billion by 2024, Stimulated by the Introduction of Environment-Friendly Compressor Lubricants

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Compressor Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

The global compressor oil market reached a value of US$ 5.8 Billion in 2020. Compressor oil is a lubricant used for reducing heat and cooling down the compressors in air conditioning and refrigeration systems. It ensures the proper functioning of the metal components and improves machinery performance with its anti-rust properties. Compressor oil also has exceptional oxidation stability and leaves a low carbon residue that reduces the operation and maintenance costs for the user. It is manufactured using a combination of base oil and various other additives. The type of base oil used, such as synthetic, mineral, semi-synthetic and bio-based, determines the quality and longevity of the compressor oil. With cost- and energy-saving properties, it finds extensive applications in various industries ranging from construction, general manufacturing, mining, power generation, chemical and petrochemical, etc.

The need for cost optimization is one of the key factors driving the market growth. Compressor oil assists in heat dissipation and maintaining the temperature of the compressor. This subsequently leads to reduced wear and tear of the compressor and aids in its smooth operation, thereby helping manufacturers to avoid high repair costs. Furthermore, significant growth in the heating, ventilation, and air conditioning (HVAC) industry along with the establishment of cold chain facilities, particularly in the developing regions, is also augmenting the demand for compressor oil. Other factors such as increasing investments in research and development (R&D) activities to develop improved product variants, such as environment-friendly compressor oil, are also favoring the growth of the market. Looking forward, IMARC Group expects the global compressor oil market to exhibit moderate growth during the next five years.

Report Coverage:

Historical, Current and Future Market Trends
Market Breakup by Compressor Type:
- Positive Displacement Compressor
- Dynamic Compressor
Market Breakup by Base Oil:
- Synthetic Oil
- Mineral Oil
- Semi-Synthetic Oil
- Bio-Based Oil
Market Breakup by Application:
- Gas Compressor
- Air Compressor
Market Breakup by End Use Industry:
- General Manufacturing
- Construction
- Oil and Gas
- Mining
- Chemical and Petrochemical
- Power Generation
- Others
Market Breakup by Region:
- Asia Pacific
- Europe
- North America
- Middle East and Africa
- Latin America

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Royal Dutch Shell PLC, ExxonMobil Corporation, BP International Limited, Chevron Corporation, Total S.A., Sinopec Group, The PJSC Lukoil Oil Company, Indian Oil Corporation Ltd., The Fuchs Group, Idemitsu Kosan Co. Ltd., Petroliam Nasional Berhad (Petronas), DuPont de Nemours, Inc. (DuPont), Croda International PLC., Sasol Limited, The Phillips 66 Company, Bel-Ray Company LLC., Morris Lubricants Limited and Penrite Oil Company, etc.

Key Questions Answered in This Report:

How has the global compressor oil market performed so far and how will it perform in the coming years?
What are the key regional markets in the global compressor oil industry?
What has been the impact of COVID-19 on the global compressor oil industry?
What is the breakup of the market based on the compressor type?
What is the breakup of the market based on the base oil?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the global compressor oil industry?
What are the key driving factors and challenges in the global compressor oil industry?
What is the structure of the global compressor oil industry and who are the key players?
What is the degree of competition in the global compressor oil industry?
What are the profit margins in the global compressor oil industry?