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Compressor Oil Market Size

Report ID: GMI2557
Published Date: May 2021
Report Format: PDF

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Compressor Oil Market Size

Compressor Oil Market size was USD 5,437.5 million in 2020 and will grow at a CAGR of 2.2% from 2021 to 2027. The maturing manufacturing sector in emerging economies is expected to increase the demand for the product.

Compressor oils are used to lubricate the compressors to ensure their reliability and maintain their operational effectiveness and efficiency. The global compressor oil sector will be driven by the surge of use in applications such as the manufacturing sector. Fast-paced industrialization and increasing industrial output across the globe are also expected to drive the vast infrastructure development and construction operations.

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The compressor oil market is directly conjoined with air compressor use. As industrial production is on the rapid surge, global demand for lubricant compressor oil is expected to surge as more and more companies incorporate the equipment in their production operations. Innovation in lubricant formulation to increase the mechanical life of compressors is also considered a contributory factor in driving product demand.

Compressor Oil Market Report Attributes
Report Attribute	Details
Base Year:	2020
Compressor Oil Market Size in 2020:	754.8 Kilo Tons
Forecast Period:	2021 to 2027
Forecast Period 2021 to 2027 CAGR:	2.2%
2027 Value Projection:	832.8 Kilo Tons
Historical Data for:	2017 to 2020
No. of Pages:	320
Tables, Charts & Figures:	439
Segments covered:	Base oil, Compressor type, End-use, and Region
Growth Drivers:	Rising demand for air compressors in the industrial sector Mature manufacturing sector in North America and Europe High growth in Asia Pacific construction and infrastructure industry
Pitfalls & Challenges:	Stringent government regulations and norms Volatility in raw material prices

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The emergence of innovative production methods designed to reduce manufacturing and operational costs and simultaneously maintain optimum quality is expected to propel the compressor oil demand. The development of innovative compressor technologies crucial to increasing productivity is further expected to drive industry demand.

Authors: Kiran Pulidindi, Akshay Prakash

Frequently Asked Questions (FAQ) :

Compressor oils are used for lubricating compressors in a range of applications such as the general manufacturing and chemical industries.

The compressor oil industry share exceeded USD 5,437.5 million in 2020 and will expand at a CAGR of 2.2% between 2021 and 2027.

Synthetic compressor oils account for 60% share in the total market revenue and will grow owing to various advantages such as enhanced wear protection, excellent thermal & oxidative stability, and higher viscosity indices.

Reciprocating compressor oils business will register a CAGR of 2% from 2021 to 2027 owing to their wide deployment in connected rod bearings, main bearings, cross head bearings, motor bearings, and others.