How Has The Compressor Oil Market Performed And What Are Its Future Growth Projections?
The compressor oil market size has seen substantial growth in recent years. It will grow from $9.62 billion in 2024 to $10.27 billion in 2025 at a compound annual growth rate (CAGR) of 6.8%. Industrialization and manufacturing growth, rise in energy demand, manufacturing process optimization, maintenance and equipment longevity, and stringent environmental regulations have fueled growth in the time period leading up to now.
Looking ahead, the compressor oil market size is expected to see strong growth. It is projected to grow to $13.64 billion in 2029, with a CAGR of 7.4%. The expected growth in the forecast period can be attributed to trends such as the globalization of trade, expansion of the renewable energy sector, advancements in synthetic compressor oils, a focus on sustainable lubricants, and expansion of chemical processing plants. Other emerging trends include technological advancements in lubrication technology, adoption of HVAC systems, integration of IOT and condition monitoring, refrigeration systems, and the adoption of variable speed compressors.
Get Your Free Sample of The Global Compressor Oil Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=8908&type=smp
What Are The Major Growth Drivers Of The Compressor Oil Market?
The significant rise in demand from the petroleum and natural gas industry is expected to spur the compressor oil market forward. Petroleum and natural gas, nonrenewable sources of energy, heavily rely on compressor oils. These oils reduce premature wear and tear in air compressors used in the petrochemical industry, crucial for increasing the pressure of piped gas. Values from the U.S. Energy Information Administration (EIA) suggest that the Henry Hub natural gas price demonstrated a 15% rise reaching $2.28 per million British thermal units (MMBtu) in October 2024. Further increases are projected, reaching an average estimate of $2.80/MMBtu in Q4 of 2024, and a rise to roughly $3.10/MMBtu by 2025. This growth can be credited to increased liquefied natural gas exports as new export capacity becomes available, contributing to natural gas demand.
Which Are The Major Segments In The Global Compressor Oil Market?
The compressor oil market is divided into the following main segments:
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
Place your order now for swift delivery @
https://www.thebusinessresearchcompany.com/report/compressor-oil-global-market-report
Who Are The Key Players In The Compressor Oil Market?
Major market participants in the compressor oil market include Shell plc, Chevron Corporation, Exxon Mobil Corporation, Fuchs Group, TotalEnergies SE, British Petroleum Public Limited Company, ENEOS Corporation, BASF SE, Croda International, Valvoline Cummins Inc., CASTROL Limited, Sasol Limited, HP Lubricants, Morris Lubricants, Idemitsu Kosan Co. Ltd., Repsol S.A., Lubrizol Corporation, Lukoil, ConocoPhillips, Quaker Houghton, Petro-Canada, Lubricants Inc., Gulf Oil Corporation Limited, Kluber Lubrication, Indian Oil Corporation Limited, Sinopec Group, Cosmo Oil Marketing Co. Ltd., and National Petroleum Limited- Petronas.
What Are The Emerging Trends In The Compressor Oil Market?
Emerging trends in the compressor oil market are centered on product innovation. In October 2024, US-based Idemitsu Lubricants America launched a range of Polyalkylene Glycol (PAG) compressor oils. Designed for high energy efficiency, reduced friction, and compliance with environmental regulations, these oils offer excellent thermal stability, which extends compressor lifespan and minimizes maintenance requirements.
Which Region Is Set To Dominate The Compressor Oil Market?
In 2024, Asia-Pacific was the largest region in the compressor oil market, and it is projected to be the fastest-growing region in the forecast period. The study gives insights on various regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
What Does The Compressor Oil Market Report 2025 Offer?
Compressor oil, a refined paraffinic base oil with additives, offers excellent lubrication for various rotary and reciprocating air compressors, contributing to cleaner compressors and longer intervals between scheduled maintenance and oil changes. The Compressor Oil Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Purchase the exclusive report now to unlock valuable market insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=8908
About The Business Research Company
The Business Research Company, with over 15000+ reports from 27 industries across 60+ geographies, is reputed for offering comprehensive, data-rich research and insights. With over 1,500,000 datasets, our in-depth secondary research and unique insights from industry leaders provide the information you need to stay ahead. Our Global Market Model, a premier market intelligence platform, delivers comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
