Global Compressor Oil Market By Compressor Type (Positive Displacement, Dynamic), Base Oil Type (Synthetic Compressor Oil, Semi-Synthetic Compressor Oil, Mineral Compressor Oil, Bio-Based Compressor Oil), Applications (Gas Compressor, Air Compressor), End- User (General Manufacturing, Construction, Oil & Gas, Mining, Chemical & Petrochemical, Power Generation, Automotive, Others)
Market Analysis: Global Compressor Oil Market
Global Compressor Oil Market is expected to rise from its initial estimated value of USD 3.90 billion in 2018 to an estimated value of USD 5.87 billion by 2026, registering a CAGR of 5.25% in the forecast period of 2019-2026. Increasing demand for good quality compressor oil is driving the growth of this market.
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Market Definition: Global Compressor Oil Market
Compressor oil is one of the important components in air condition system which uses oil for three purposes lubrication, removal of heat and for sealing. They are usually used to improve the performance, efficiency, minimization of harmful compounds etc. Increasing demand of compressor oil from various industries like construction, oil and gas, mining etc. is the major factor fuelling the market.
- Growth in the industrial sector worldwide is driving the growth of this market.
- Increasing demand for screw compressor among population is driving the growth of this market.
- Increase in the demand for the oil free compressor is going to restrain the growth of this market.
- High production cost is restraining the market growth
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Segmentation: Global Compressor Oil Market
- By Compressor Type
- Positive Displacement
- By Base Oil Type
- Synthetic Compressor Oil
- Semi-Synthetic Compressor Oil
- Mineral Compressor Oil
- Bio-Based Compressor Oil
- By Applications
- Gas Compressor
- Air Compressor
- By End- User
- General Manufacturing
- Oil & Gas
- Chemical & Petrochemical
- Power Generation
Key Developments in the Market:
In October 2018, ELGi Equipments announced the launch of its new range of oil- free air compressors at Chicago which will have no oil in the compressor chamber. The main aim is to keep the air and environment clean. They are very suitable for the food &beverage and pharmaceutical industry.
In August 2018, Atlas Copco announced the launch of their Atlas Copco’s smart AIR solutions portfolio whose aim is to reduce the energy consumption and ease of installation and service. They are very suitable for mining industry, power plants and metal processing.
Global compressor oil market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of compressor oil market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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