Dec 09, 2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Compressor Oil Market.
It was estimated prior to this unanticipated outbreak that the Compressor Oil Market likely to witness an impressive CAGR of 5.4% during the forecast period. The growing demand for compressor oil is mainly due to the increasing manufacturing and construction activities all across the globe.
Compressor oils are fluids that help maintain cleaner compressors. The oil is designed to provide long service life to the compressors. The oil is made in three types, oil base synthetic oil, mineral oil, semi-synthetic oil, and bio-based oil.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Segment Analysis
Based on the compressor type, the market is segmented as dynamic compressor and positive displacement compressor. The dynamic compressor segment held the larger share of the market in 2019, and is expected to remain dominant during the forecast period. Dynamic compressors convey a huge volume of air by quickening it to high speed with the assistance of rotating blades and limit the air to decelerate under extension to increase pressure.
Based on the base oil type, the compressor oil market is segmented as synthetic oil, mineral oil, semi-synthetic oil, and bio-based oil. The synthetic oil segment leads the market owing to its excellent properties such as chemical resistance, better viscosity index, higher shear stability, and higher performance in extreme conditions.
Based on the end-user industry type, the market is segmented as general manufacturing, construction, oil & gas, mining, chemical & petrochemical, power generation, and others. The general manufacturing segment is expected to remain dominant, whereas chemical & petrochemical is likely to be the fastest-growing market during the forecast period.
By Region, Asia-Pacific is estimated to be the largest as well as the fastest-growing compressor oil market during the forecast period, with China, Japan, and India being the major countries with lucrative growth opportunities. The growth of the market is owing to the increasing investment in the infrastructure development and continuously growing manufacturing and construction sectors in the developing countries.
Key Players:
Key players operating in the global Compressor Oil market are-
- British Petroleum (BP) PLC
- Chevron Corporation
- Exxonmobil Corporation
- Fuchs Group
- Idemitsu Kosan Co. Ltd.
- Indian Oil Corporation Ltd.
- Lukoil
- Royal Dutch Shell PLC
- Sinopec Limited
- Total SA
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Compressor Oil analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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