Compressor oil, a mixture of base oil and additives provides lubrication to every moving part of compressor. Compressor oil improves performance and helps reduce the formation of harmful deposits in compressor and also reduce maintenance cost. Moreover, the oil servers as a direct contact coolant to absorb the heat of compression and protects exposed metal parts of compressor and minimize friction by providing a protective surface film of the compressor.
Though there are several types of compressors, all compressors work in the same manner. Oil plays vital role in the working of a compressor. Oil is first injected in the compressor chamber; the oilair mixture is then discharged; the oil separator removes the oil aerosols out of the air stream; lastly, compressed air leaves through the oil separator, cooler and filter. The compressor oil market report is segmented on the basis of various types of compressors. These include rotary, reciprocating, centrifugal, and axial compressors. Among these, rotary screw compressors account ~80% of the industrial market for compressors.
The compressor oil market is classified on the basis of applications. These include manufacturing, oil & gas industries, automotive industries, and power industries. The manufacturing industrial application market of compressor oil is further segments into types of industries such as chemicals & petrochemicals, construction & mining equipment, metal production, and food & beverage industry, among others. The highly growing trend of high living standards has given rise to the rapid development of industrial and manufacturing sector. This surge in the manufacturing sector has increased the use of compressors for this application. Hence, manufacturing application captures largest share in the compressor oil market. Besides, the highly dramatic growth in the automotive industry has also attributed to the growth of compressor oil industry.
The report has further classified the compressor oil market on the basis of base oil type, namely, synthetic compressor oil, semi-synthetic compressor oil, mineral compressor oil, and bio-based compressor oil. The synthetic compressor oil is further segmented into polyalphaolefins, polyalkalyene glycol, and esters. Furthermore, the report highlights the major factors driving and inhibiting the compressor oil market. The current and future opportunities and challenges and their impact on the industry for next 5 years has been analyzed in the report. The major supply and demand side factors affecting the growth of the market along with the current and future trends are covered in the report. It also represents a detailed evaluation and estimation of the market, value chain analysis, pricing analysis, suppliers, distributors and OEM analysis.
The major geographies are tracked and analyzed in the report are North America, Asia-Pacific, Latin America, and Europe. Their market estimation and forecast is covered in detailed in the report along with market estimation and forecast of the major revenue generating countries in these regions. Asia-Pacific captures largest market share in the global compressor oil market. Moreover, due to the growing industrial and automotive sectors in the regions of Middle East & Africa, these regions are expected to show high growth of the compressor oil market in next 5 to 10 years.
The competitive analysis of the key players in the market along with the analysis of emerging players is highlighted in the report. The report give high emphasis on market strategies such as new product launches, mergers & acquisitions, partnerships, joint ventures, and collaborations of the market leaders.
Some of the major manufacturers that are profiled in the report include:
- Royal Dutch Shell plc
- Exxon Mobil Corporation
- Total S.A
- Lukoi, BP plc
- Chevron Corporation