Compressor oil market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in kilo tons and revenue in USD million fr by 2025. One of the chief drivers of growth of compressor oil market is the extensive use of air compressors in manufacturing sector coupled with the ongoing technological advancements in the industry. Air compressors are widely used as a source of compressed air for welding & cutting equipment, metal finishing and sandblasting, to operate air tools for production lines, adjusting feed and roller machinery, piece ejection from molds, etc.
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The technological advancement in the compressor industry to move towards more energy efficient solutions will also prosper the compressor oil market demand. For instance, Kaesar Kompressoren redesigned and launched a new series of rotary screw compressors which are highly energy efficient, resulting in reduced energy cost and life cycle cost. Such innovations will also drive the demand of air compressors, which will augment the growth of compressor oil market. However, raw material price fluctuation might hamper the growth of industry during the forecast timeframe.
Based on base oil, mineral and synthetic are the key segments in the compressor oil market. Bio-based and semi-synthetic oils have been considered in the others category. In 2018, synthetic oil dominated the market with majority of share. This product type is free from any kind of additive or surplus that results in price escalation. Additionally, it provides high efficiency, less wear, lower volatility, extended storage stability and operating temperature range.
The compressor oil market is classified into reciprocating, centrifugal, rotary screw and others which includes scroll, axial, liquid piston and straight lobe on the basis of compressor type. In 2018, rotary screw type had majority of the market share in terms of volume which can be attributed to the popularity of this segment in the various industrial applications coupled with the higher lubrication usage in screws, thrust & radial roller bearings and speed gears.
On the basis of end-use, compressor oil market is classified into food & beverage, infrastructure & construction, power generation, mining, general manufacturing, chemical and others which include agriculture, healthcare, household, etc. The chemical segment will have significant market share due to many applications of compressor oil in material handling and process air.
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Asia Pacific dominates the global compressor oil market owing to the presence of rapidly growing end-user industries. North America region will have significant market share owing to the presence of mature manufacturing industry and increasing oil & gas exploration activities in the region.
Compressor oil market share is extremely competitive, with numerous players. The main players include Atlas Copco, Gardner Denver, Chevron Corporation, BASF SE, Ingersoll Rand, Indian Oil Corporation, Fuchs Group, Sasol Limited, Exxon Mobil Corporation, British Petroleum and others.
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