Compressor Oil Market To Reach USD 14.74 Billion By 2026
New York, NY -- (SBWIRE) -- 03/08/2021 -- The global compressor oil market is expected to reach USD 14.74 Billion by 2026, according to a new report by Reports and Data. Compressor Oil is a kind of lubricant that provides a long service life in most compressor applications. The thermal stability and oxidation resistance of this oil aids in maintaining cleaner compressors, thus permitting more extended running periods between scheduled maintenance and oil changes.
The increasing application of compressors, and hence, compressor oil in the manufacturing sector is estimated to stimulate market demand in the forecast period. The rapid growth of industrialization and positive economic trends across the globe, especially in the Asia Pacific region will escalate the manufacturing activities in the upcoming years. Currently, China leads the global manufacturing output owing to supportive government policies, foreign investments and easy availability of cheap labor.
Key Companies of the Compressor Oil Market are:
Royal Dutch Shell PLC, ExxonMobil PLC, British Petroleum PLC, Chevron Corporation, BASF SE, Sasol Limited, Croda International PLC, The Dow Chemical Co., Total SA, and Sinopec Corp., among others.
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The report offers a panoramic view of the competitive landscape of the Global Compressor Oil Market. The report covers comprehensive data about current and recent trends, technological advancements, and methodologies. The research document offers detailed and concise data to assist in making strategic business decisions. The report offers a graphical representation of the important statistical data in the form of tables, graphs, charts, figures, and diagrams.
The market is further segmented on the basis of types, applications, end-users, technology, and others. Based on product types offered in the market, the Compressor Oil market is segmented into
Compressor Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Positive Displacement Type
Rotary Screw Type
Radial Flow Type
Axial Flow Type
Base Oil Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
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Industry Vertical Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Oil & Gas
Based on the regional analysis, the market is segmented into:
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report also studies the strategic alliances of the market, such as mergers and acquisitions, joint ventures, collaborations, product launches, and brand promotions, government and corporate deals, partnerships and agreements, and others. The report also strives to offer insightful information about the competition to offer a competitive edge to the readers and businesses to help them gain a strong footing in the market.
Further key findings from the report suggest:
By compressor type, positive displacement types held a substantial share of the market in 2018. In positive displacement type compressors, compression is done by trapping a refrigerant vapor into a sealed-off space and then reducing its volume. Positive displacement pump modifies the geometrical volume of fluid at different stages, regardless of intake temperature and pressure. As a result, the performance of a centrifugal pump is dependent on input and output characteristics.
By base oil type, bio-based oil is forecasted to grow at the fastest growth rate in the forecast period owing to the superior performance offered by green lubricants. Biodegradable lubricants are found to provide better lubricity.
The Asia Pacific region dominated the market in 2018 and is projected to grow at a rate of 5.3% in the forecast period. The dominance of the Asia Pacific region may be attributed to the rising demand for compressor oil from automotive, oil & gas, construction, and petrochemical industries. The industries in the region are found to expand their production facility and hence require enough manufacturing equipment to cater to the end-user demand, thereby increasing the market demand…Continued
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