Compressor Oil Market growth will be fueled by rising construction activities and significant expansion of construction industry across Asia Pacific region. While prominent countries like China and India are expected to provide momentous growth through their construction and infrastructure initiatives. With increasing government spending, investment, and urbanization, ASEAN countries are also expected to play key role in delivering additional revenues to the compressor oil industry outlook.
Compressor Oil Market growth can be attributed to the high-performance lubrication benefits provided by the product. Its properties such as excellent oxidation performance, resistance to rust and corrosion, wear protection, foam control, and rapid water separation expands the product’s area of usage to manufacturing, power generation, automobile, mining etc., augmenting compressor oil market share.
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Compressor Oil Market research study provides a detailed survey of the vital players – this is based on the financial highlights, company outline, SWOT Analysis, Product Portfolio, as well as major strategies and the expansion plans of industry contenders. This report is also anticipated to reflect consistent growth in years to come since consumers are now being rather aware of product quality. This market analysis of an industry is a crucial factor that numerous stakeholders such as investors, traders, CEOs, suppliers, and more, need to be aware of.
The technological advancement in the compressor industry to move towards more energy efficient solutions will also prosper the product 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.
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.
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.
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The regional segmentation covers:
o Europe Region (Germany, UK, France, Russia, Italy, Rest of Europe)
o North America Region (U.S., Canada, Mexico)
o South America Region (Argentina, Brazil, Columbia, Rest of South America)
o Asia-Pacific Region (China, South Korea, Japan, Southeast Asia, India, Rest of Asia-Pacific)
o The Middle East & Africa Region (UAE, Saudi Arabia, Nigeria, South Africa, Egypt, Rest of MEA)
Asia Pacific dominates the global 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.
Key questions answered in the report:
o What will be the market demand, size, share, and consumption between 2020 to 2025?
o What will the growth rate of the market?
o What was the status of the market worldwide during the past years?
o What are the key factors that will drive the market?
o What are the risks, opportunities, and the overview of the industry?
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