Compressor Oil Market Size, Share, Trends, Growth 2032

Compressor Oil Market

Compressor Oil Market By Compressor Type (Positive Displacement and Dynamic), By Base Oil (Synthetic, Semi-Synthetic, Mineral, and Bio-Based), and By End-Use (General Manufacturing, Oil & Gas, Power Generation, Automotive, and Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2024 – 2032

Category: Chemical & Materials Report Format : PDF Pages: 110 Report Code: ZMR-1023 Published Date: Apr-2024 Status : Published
Market Size in 2023 Market Forecast in 2032 CAGR (in %) Base Year
USD 9.65 Billion USD 15.57 Billion 5.46% 2023

Compressor Oil Industry Prospective:

The global compressor oil market size was worth around USD 9.65 billion in 2023 and is predicted to grow to around USD 15.57 billion by 2032 with a compound annual growth rate (CAGR) of roughly 5.46% between 2024 and 2032.

The report covers a forecast and an analysis of the compressor oil market on a global and regional level. The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on volume (Kilotons) and revenue (USD Billion). The study includes drivers and restraints of the compressor oil market along with the impact they have on-demand over the forecast period. Additionally, the report includes the study of opportunities available in compressor oil on a global level.

Compressor Oil Market: Growth Drivers

Compressor oil is a significant component for any air conditioning system. These oils are used for lubrication, reducing heat, decreasing downtime, and in repairing machines. Heat generated by compressors during operations leads to high power consumption and wear and tear of machines. Therefore, compressor oils assist in heat dissipation and control the equipment temperature. The benefits of compressor oils include improving the overall performance of equipment, reducing friction, and protecting surface films. They also serve as a sealing fluid, reduce energy consumption, and decrease deposition of harmful compounds.

The rising number of manufacturing companies has led to an increased demand for the compressor oils, which is majorly driving the global compressor oil market growth. Easy availability, low-cost maintenance, and high-performance capability of compressor oils are positively influencing the compressor oils market globally. The cost optimization practice is another key trend that is fuelling the market growth of compressor oils globally. Different manufacturers implement continuous improvements to reduce the power consumption of equipment and ensure constant operational flow.

Therefore, raising concerns about low power consumption among manufacturing industries are anticipated to further drive the compressor oil market progress over the forecast timespan. However, the increasing demand for oil-free compressors and escalating costs of synthetic and bio-based compressor oils are hampering the compressor oil market.

In order to give the users of this report a comprehensive view of compressor oil, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

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The report provides a company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis. Moreover, the study covers price trend analysis and the product portfolio of various companies according to the region.

Compressor Oil Market: Segmentation

The study provides a decisive view of the compressor oil market based on compressor type, base oil, end-use, and region.

On the basis of compressor type, the compressor oil market is divided into positive displacement and dynamic. Based on base oil, the market is sectored into semi-synthetic, synthetic, bio-based, and mineral. Considering the end-use segment, the market is segmented into power generation, general manufacturing, oil and gas, automotive, and others.

Compressor Oil Market : Report Scope

Report Attributes Report Details
Report Name Compressor Oil Market Research Report
Market Size in 2023 USD 9.65 Billion
Market Forecast in 2032 USD 15.57 Billion
Growth Rate CAGR of 5.46%
Number of Pages 213
Key Companies Covered Sinopec Limited, Exxon Mobil Corporation, Total S.A., Lukoil, BP PLC, The Dow Chemical Company, Indian Oil Corporation Ltd., Fuchs Petrolub AG, Chevron Corporation, Indian Oil Corporation Ltd., Croda International PLC, Sasol Limited, Royal Dutch Shell PLC, and BASF SE.
Segments Covered By Compressor Type, By Base Oil, By End-Use and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2023
Historical Year 2018 to 2022
Forecast Year 2024 - 2032
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Compressor Oil Market : Regional Analysis

The regional segmentation includes the historical and forecast demand for North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

Asia Pacific held the major market share in 2018 and is anticipated to dominate the global compressor oil market in the upcoming years. This regional growth can be attributed to the presence of a large number of manufacturing and construction industries in Japan, India, China, and South Korea. Foreign and domestic investments in key industries, such as automotive, energy, manufacturing, and construction have been consistently rising since the last few years in this region. Furthermore, the rise in vehicle fleet results in escalating demand for automobiles. Therefore, the constant growth in the automotive industries in this region is also boosting the region’s compressor oil market.

Compressor Oil Market: Competitive Analysis

The global compressor oil market is dominated by players like:

  • Sinopec Limited
  • Exxon Mobil Corporation
  • Total S.A
  • Lukoil
  • BP PLC
  • The Dow Chemical Company
  • Indian Oil Corporation Ltd.
  • Fuchs Petrolub AG
  • Chevron Corporation
  • Indian Oil Corporation Ltd
  • Croda International PLC
  • Sasol Limited
  • Royal Dutch Shell PLC
  • BASF SE

This report segments the global compressor oil market into:

Global Compressor Oil Market: Compressor Type Analysis

  • Positive Displacement
  • Dynamic

Global Compressor Oil Market: Base Oil Analysis

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

Global Compressor Oil Market: End-Use Analysis

  • General Manufacturing
  • Oil and Gas
  • Power Generation
  • Automotive
  • Others

Global Compressor Oil Market: Regional Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

Table Of Content

Methodology

FrequentlyAsked Questions

Compressor oil lubricates the various components in motion of the apparatus, including gears, pistons, and bearings. By decreasing friction and attrition between the components, this lubrication aids in the prevention of premature compressor failure and increases its lifespan. Assisting in the dissipation of heat produced during compression is compressor lubricant. Compressing air can produce substantial quantities of heat in air compressors; therefore, the oil's function is critical in conveying this heat away from the compressor components, thereby averting overheating and potential damage.

Industrial expansion, encompassing construction, mining, and manufacturing, is the primary driver of compressor demand in a variety of sectors. Compressor oil demand increases in tandem with the quantity of operational compressors, as it is utilized to lubricate and maintain these devices. Compressors for air are utilized in gas compression, pneumatic instruments, HVAC systems, and refrigeration, among other applications. Compressor oil is in greater demand as the industrial and commercial utilization of air compressors increases. This is to guarantee that the machines are adequately lubricated and operating at peak efficiency.

The global compressor oil market size was worth around USD 9.65 billion in 2023 and is predicted to grow to around USD 15.57 billion by 2032.

The global compressor oil market with a compound annual growth rate (CAGR) of roughly 5.46% between 2024 and 2032.

The regional segmentation includes the historical and forecast demand for North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

Some major players operating in the compressor oil market are Sinopec Limited, Exxon Mobil Corporation, Total S.A., Lukoil, BP PLC, The Dow Chemical Company, Indian Oil Corporation Ltd., Fuchs Petrolub AG, Chevron Corporation, Indian Oil Corporation Ltd., Croda International PLC, Sasol Limited, Royal Dutch Shell PLC, and BASF SE.

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