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Compressor Oil Market by Base Oil, Application, End-Use Industry - Global Forecast to 2027

Author : Ravi Chawat | Published Date : 2021-07-14 

The compressor oil market is projected to witness robust growth by 2027, recording a sizable CAGR over the forecast period. Increasing demand for compressor oils in several end-use industries, particularly in the construction sector and consumer products, such as household appliances, is expected to foster market outlook over the analysis timeframe.

Compressor oils are lubricants that are primarily used in mechanical devices where the oil helps reduce the volume and enhance the pressure of gases for use in various applications. These oils constitute of petroleum-based mineral oils or synthetic materials, including esters, poly-α-olefins, and polyalkylene glycols.

In home appliances, compressor oil is particularly crucial in air conditioning systems that use compressors in the compression system. Compressor oils serve three main purposes in these systems, viz., lubrication, sealing, and heat removal.

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The compressor oil market has been segmented based on compressor type, base oil, end-use, and region. Based on compressor type, the market has been categorized into reciprocating, centrifugal, rotatory screw, and others.

The others sub-segment is projected to exhibit steady growth at a CAGR of 2.0% through the assessment period owing to widescale applications of other compressor technologies, such as scroll, liquid piston axial, and straight lobe compression.

In terms of end-use, the compressor oil market has been bifurcated into general manufacturing, food & beverage, construction, mining, power generation, chemical, and others.

The construction sub-segment is anticipated to witness substantial growth through the assessment period owing to surging product application in the construction industry. Most manufacturing facilities utilize compressed gas systems for a plethora of wide-ranging applications.

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In order to keep the entire operation running, it is vital that these air compressors remain operational. Compressors typically require some type of lubricant to seal, lubricate, or cool internal components.

Effective lubrication helps continual operation of equipment, thereby preventing the plant from incurring any costly downtime or repairs. Moreover, proper lubrication with compressor oils also help compressors consume less power and run cooler.

The construction sector employs air compressors to power pneumatic tools and drilling equipment. Subsequently, there is significant product demand across the construction industry, which is foreseen to boost segmental growth in the future.

Meanwhile, the others sub-segment is estimated to grow at a CAGR of 2.5% over 2021 and 2027. Other end-uses of compressor oils include home appliances, such as refrigeration & freezing units. Growing urban population is expected to boost product demand, thereby fostering industry growth in the forthcoming years.

Browse More News:

https://www.globenewswire.com/news-release/2018/11/08/1647694/0/en/Peracetic-Acid-Market-to-hit-1-2bn-by-2025-Global-Market-Insights-Inc.html

https://www.globenewswire.com/en/news-release/2018/11/07/1646845/0/en/Metal-Bonding-Adhesives-Market-to-hit-6bn-by-2025-Global-Market-Insights-Inc.html

https://www.globenewswire.com/news-release/2021/03/08/2188304/0/en/MEA-Ferric-Chloride-Market-projected-to-exceed-300-million-by-2026-Says-Global-Market-Insights-Inc.html

About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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