Global CompressorOil Market is
expected to reach USD 97.15 billion by 2024, according to a new report by Grand View
Research, Inc. Increasing industrialization in Asia Pacific and the Middle East
is expected to remain a key driving factor for global compressor oil market
over the forecast period.
Various attributes of compressor oil such as cooling, sealing and
lubricating the internal components which ensure continuous operation and helps
in reducing downtime and repair is also expected to drive its demand. Moreover,
these lubricants maintain the equipment temperature and therefore keep them
cool.
The equipment heating results in higher power consumption and wear &
tear of the machine. Cost optimization practices adopted by various
manufacturing companies are also expected to drive demand for compressor oil.
It is observed that organizations have been implementing continuous improvement
projects to reduce power consumption & maintain continuous operational flow
undertake good lubrication practices.
Positive displacement based products are widely used in industries owing
to their high performance and low maintenance cost. Therefore, the segment
accounted for the majority of compressor oil consumed globally. Demand for
positive displacement type is expected to develop at an approximate CAGR of
5.0% from 2016 to 2024.
Full Research
Report On Global Compressor Oil Market Analysis:
http://www.grandviewresearch.com/industry-analysis/compressor-oil-market
http://www.grandviewresearch.com/industry-analysis/compressor-oil-market
Further key
findings from the report suggest:
- Global
compressor oil market demand was 6.80 million tons in 2015 and is expected
to reach 10.44 million tons by 2024, growing at a CAGR of 4.9% from 2016
to 2024
- Synthetic was
the leading base oil used in compressor oil and accounted for 43.2% of
global volume in 2015. High performance associated with synthetic oils are
expected to drive their demand over the forecast period.
- Increasing
global awareness with respect to environmental issues is anticipated to
drive the bio-based oil demand. The segment is anticipated to grow at an
estimated CAGR of 5.1% from 2016 to 2024.
- Manufacturing
and automotive sector together accounted for over half of the global
demand in 2015. Energy industry is expected to capture around one-fifth of
revenue share in 2024 with an approximate growth rate of 6% from 2016 to 2024.
- Asia Pacific is
expected to observe the highest regional growth at an approximate CAGR of
5.6% owing to the rapid industrialization in emerging economies including
China, India, and South Korea.
- Key players
operating in the global industry are ExxonMobil, Royal Dutch Shell, Total
S.A, Lukoil, British Petroleum, Chevron Corporation, BASF, The Dow
Chemical, Sasol Limited, Sinopec Limited, Croda International and Fuchs
Petrolub.
View more reports
of this category by Grand View Research at: http://www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
Grand View Research
has segmented the Global Compressor Oil Market on the basis of compressor type,
base oil, end-use and region:
Global Compressor
Oil Compressor Outlook (Volume, Kilo Tons; Revenue, USD Million, 2016 - 2024)
- Positive
Displacement Compressor
- Dynamic
Compressor
Global Compressor
Oil Base Oil Outlook (Volume, Kilo Tons; Revenue, USD Million, 2016 - 2024)
- Synthetic
- Semi-Synthetic
- Mineral
- Bio-Based
Global Compressor
Oil End Use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2016 - 2024)
- Manufacturing
- Oil & Gas
- Power
- Automotive
- Others
Global Compressor
Oil Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2016 - 2024)
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Middle East and
Africa
- Saudi Arabia
- South Africa
- Kuwait
- Iraq
- Central &
South America
- Brazil
- Argentina
- Venezuela
View Press Release of this research
report by Grand View Research: http://www.grandviewresearch.com/press-release/global-compressor-oil-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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