The compressor oil global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Compressor Oil Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The compressor oil market size has grown strongly in recent years. It will grow from $9.04 billion in 2023 to $9.68 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to industrialization and manufacturing growth, rise in energy demand, manufacturing process optimization, maintenance and equipment longevity, stringent environmental regulations.
The compressor oil market size is expected to see strong growth in the next few years. It will grow to $12.59 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to globalization of trade, expansion of the renewable energy sector, advancements in synthetic compressor oils, focus on sustainable lubricants, expansion of chemical processing plants. Major trends in the forecast period include technological advancements in lubrication technology, adoption of hvac systems, integration of iot and condition monitoring, refrigeration systems, adoption of variable speed compressors.
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Scope Of Compressor Oil Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Compressor Oil Market Overview
Market Drivers –
Growing demand from the petroleum and natural gas industry is expected to propel the compressor oil market going forward. Petroleum and natural gas refer to nonrenewable sources of energy. Petroleum is a liquid mixture found underground that can be used to make gasoline and diesel fuel, whereas natural gas is a fossil fuel energy source. Compressor oil is used in the petrochemical industry to prevent premature wear and tear in air compressors, that are necessary to increase the pressure of the gas being transported as it travels through the pipes to the source. For instance, in 2021, according to the US Energy Information Administration, a principal agency of the US Federal Statistical System, annual Natural gas plant liquids (NGPLs) production reached a record of nearly 5.4 million barrels per day. Therefore, the growing demand from the petroleum and natural gas industry is driving the growth of the compressor oil market.
Market Trends –
Product innovation is a key trend in the compressor oil market. Major companies operating in the compressor oil market are focused on developing innovative products to strengthen their position in the market. For instance, in October 2021, Anderol B.V., a Netherlands-based chemical manufacturer, introduced a hazard-free compressor oil, Anderol Syncomp DE HSL 100, a high-performance synthetic di-ester-based compressor and vacuum pump oil that is hazard-free. It has been approved by the German Federal Institute for Materials Research and Testing (BAM), meets vacuum pump safety criteria, and has great thermal oxidation stability, resulting in extended oil life and excellent control over deposit formation.
The compressor oil market covered in this report is segmented –
1) By Base Oil: Mineral, Synthetic, Semi-Synthetic
2) By Compressor Type: Positive Displacement, Reciprocating, Rotary Screw, Other Compressors, Dynamic, Radial Flow, Axial Flow
3) By End-Use Industry: Manufacturing, Oil And Gas, Power Generation, Automotive, Other End-Use Industries
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Regional Insights –
Asia-Pacific was the largest region in the compressor oil market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the compressor oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the compressor oil market report are Royal Dutch Shell plc, Chevron Corporation, Exxon Mobil Corporation, Fuchs Group, Total S.A., British Petroleum Public Limited Company, JXTG Nippon Oil & Energy Corporation, BASF SE, Showa Shell Sekiyu K.K., Croda International, Valvoline Cummins Inc., CASTROL Limited, Sasol Limited, Pennzoil, HP Lubricants, Morris Lubricants, Idemitsu Kosan Co. Ltd., Repsol S.A., Lubrizol Corporation, Lukoil, Phillips Petroleum Company, Quaker Chemical Corporation, Petro-Canada Lubricants Inc., Gulf Oil Corporation Limited, ENEOS Corporation, Klüber Lubrication, Indian Oil Corporation Limited, Sinopec Group, Cosmo Oil Marketing Co. Ltd., National Petroleum Limited- Petronas
1. Executive Summary
2. Compressor Oil Market Report Structure
3. Compressor Oil Market Trends And Strategies
4. Compressor Oil Market – Macro Economic Scenario
5. Compressor Oil Market Size And Growth
…..
27. Compressor Oil Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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