CHICAGO, Feb. 6, 2019 /PRNewswire/ --
According to the new research report "Compressor Oil Market by Base oil (Synthetic, Mineral, Semi-Synthetic, and Bio-based), Compressor Type (Dynamic, Positive Displacement), Application (Gas, Air), End-Use Industry (General Manufacturing, Construction, Oil & Gas) - Global Forecast to 2023", published by MarketsandMarkets™, the Compressor Oil Market is projected to reach USD 13.2 billion by 2023, at a CAGR of 5.6% from USD 10.1 billion in 2018. Compressor oils are widely used in the manufacturing sector such as transportation equipment manufacturing, metal production, commercial machinery manufacturing, food & beverage, and rubber & plastic industries. Hence, the rapid growth in these industries is expected to contribute to the growth of the Compressor Oil Market. Additionally, the growth in other industries such as construction, oil & gas, power generation, mining, and chemical & petrochemical is expected to fuel the Compressor Oil Market.
Download PDF Brochure:
Browse in-depth TOC on "Compressor Oil Market"
110 – Tables
54 – Figures
162 – Pages
View detailed Table of Content here:
General manufacturing was the largest end-use industry segment of the Compressor Oil Market in 2018.
The general manufacturing industry is estimated to account for the largest share of the Compressor Oil Market during the forecast period, in terms of value. General manufacturing includes various small industries such as transportation equipment, metal production, commercial machinery, food & beverage, and rubber & plastic. These industries consume compressor oil during product manufacturing; hence the use of compressor oil is important in these industries to ensure smooth functioning of the machine. The rapid growth of the manufacturing sector in the developing regions is expected to drive the Compressor Oil Market during the forecast period.
High-performance properties of synthetic oil to drive the market for compressor oil during the forecast period.
The dominance of the synthetic oil segment is projected to continue during the forecast period, owing to its high performance in extreme conditions, high drain interval, better viscosity index, higher shear stability, and chemical resistance. The increased consumer awareness regarding OEM recommendations and favorable properties of PAG, such as water solubility and high viscosity indexes are expected to drive the synthetic oil-based Compressor Oil Market during the forecast period.
APAC is estimated to be the largest market for compressor oil in 2018.
APAC is the largest Compressor Oil Market during the forecast period due to the high growth of the manufacturing and construction industries in emerging countries such as China, India, Japan, and South Korea. The domestic and foreign investments in the construction industry have been consistently growing over the past decade in this region. Moreover, the rising investment for infrastructure development in the developing countries of APAC is fueling the Compressor Oil Market in the region.
Key players profiled in the report include Royal Dutch Shell PLC (The Netherlands), ExxonMobil Corporation (US), British Petroleum Plc ((UK), Chevron Corporation (US), Total SA (France), Sinopec Limited (China), Lukoil (Russia), Indian Oil Corporation Ltd. (India), Fuchs Group (Germany), and Idemitsu Kosan Co. Ltd. (Japan).
Get 10% Free Customization on this Report:
Browse Adjacent Markets: Bulk Chemicals and Inorganics Market Research Reports & Consulting
- Lubricants Market by Type (Mineral Oil, Synthetic Lubricants, Bio-Based, and Greases), by Application (Transportation and Industrial Machinery & Equipment), and by Region (APAC, EU, NA, MEA, AND SA) - Global Forecast to 2021
- Construction Lubricants Market by Base Oil (Mineral Oil and Synthetic Oil), Product Type (Hydraulic Fluid, Engine Oil, Gear Oil, Compressor Oil) and Equipment Type (Earthmoving, Material Handling, Heavy Construction Vehicle) - Global Forecast to 2022
- Marine Lubricants Market by Oil Type (Mineral Oil, Synthetic, Bio-based, and Grease), Product Type (Engine oil, Hydraulic fluid, Compressor oil), Ship Type (Bulk Carrier, Tanker, Container), and Region - Global Forecast to 2023
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/compressor-oil-market.asp
Visit Our Website: https://www.marketsandmarkets.com