Compressor Oil Market Report 2023-2028: Industry Demand, Business Growth, Trends Analysis, and Forecast

According to the latest report by IMARC Group, titled “Compressor Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global compressor oil market size reached US$ 6.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.3 Billion by 2028, exhibiting a growth rate (CAGR) of 4.05% during 2023-2028. Compressor oil represents a lubricant that is utilized for minimizing heat and cooling down the compressors in air conditioning and refrigeration systems. It is manufactured by using additives. Compressor oil also ensures the proper functioning of the metal components and enhances machinery performance. It has exceptional oxidation stability, exhibits anti-rust properties, and leaves a low carbon residue that reduces the operation and maintenance costs for the user. In line with this, compressor oil is cost-effective and energy-saving. Consequently, it finds wide-ranging applications in numerous industries, such as construction, general manufacturing, mining, power generation, chemical, etc.

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Compressor Oil Market Report 2023

Industry Growth:

The rising need for cost optimization is primarily driving the compressor oil market. Additionally, the growing number of gas pipeline projects, the development of cold chain facilities, and the inflating levels of industrialization are further bolstering the market growth. Besides this, the widespread adoption of compressor oil, as it ensures the proper functioning of the machine parts and extends their lifespan, helps in heat dissipation, maintains the temperature of devices, facilitates smooth operations, etc., thereby eliminating the high repair costs, is acting as another significant growth-inducing factor. Moreover, the escalating demand for bio-based compressor oil, owing to the increasing consumer environmental concerns, is positively influencing the global market. Apart from this, continuous advancements in industrial machinery and extensive investments in R&D activities are also stimulating market growth. Furthermore, the introduction of environment-friendly product variants that are produced from natural ingredients, including sunflower, is expected to fuel the compressor oil market over the forecasted period.

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Key Market Segmentation:

Competitive Landscape with Key Players:

  • 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
  • Penrite Oil Company.

Breakup by Compressor Type:

  • Positive Displacement Compressor
  • Dynamic Compressor

Breakup by Base Oil:

  • Synthetic Oil
  • Mineral Oil
  • Semi-Synthetic Oil
  • Bio-Based Oil

Breakup by Application:

  • Gas Compressor
  • Air Compressor

Breakup by End-Use Industry:

  • General Manufacturing
  • Construction
  • Oil and Gas
  • Mining
  • Chemical and Petrochemical
  • Power Generation
  • Others

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

  • Market Performance
  • Market Outlook 
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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