Compressor Oil Market to see 2% CAGR till 2025 | Top vendors like Shell, Total, ExxonMobil, BP, BASF, Lukoil, Chevron, Sasol
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The global compressor oil market is divided into reciprocating, centrifugal, rotary screw, and others on based on types of compressor. Other types of compressors include axial, rotary vane, straight lobe and rotary scroll compressors. Among these, the rotary screw compressor segment is anticipated to observe robust growth rate over 2019-2025 and exceed $3.5 billion by 2025.
On regional basis, Asia Pacific holds the largest share in the compressor oil market owing to the significant presence of various end-use industries. Aided by India and China, the APAC compressor oil market growth graph will depict considerable increase in the years to come. Europe and North America compressor oil markets have also recorded substantial growth rate due to growing usage of synthetic compressor oils, which have longer lifespan thus lowering the maintenance cost and elongating oil change intervals.
The compressor oil market is segregated into rotary, reciprocating, centrifugal and others based on compressor type. The rotary screw compressor type accounted for the majority market share in 2018 in terms of quantity, owing to this segment's popularity in the numerous industrial processes combined with the increased use of lubrication in screws, velocity gears and thrust & radial roller bearings.
Royal Dutch Shell, Total S.A., Fuchs Group (Fuchs Petrolub SE), Exxon Mobil Corporation, British Petroleum (BP p.l.c.), BASF SE, Eni S.p.A, Indian Oil Corporation Limited, China Petrochemical Corporation (Sinopec Group), Lukoil, Hindustan Petroleum Corporation Limited (HPCL), The Dow Chemical Company (DowDuPont, Inc), Sasol Limited, Chevron Corporation, The Phillips , Company, Atlas Copco, Gardner Denver, Inc, Ingersoll-Rand plc are top key players in the compressor oil market.
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