Press release
Refrigeration Oil Market is Forecasted to Reach US$ 1.86 Billion in 2030, Says Stratview Research
Stratview Research, a global market research firm has launched a report on the global refrigeration oil market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
Click here to get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/2875/refrigeration-oil-market.html#form
Report Highlights:
Market Size in 2030: US$ 1.86 billion
Growth (CAGR): 4.74% during 2024-2030
Forecast Period: 2024-2030
Trend Period: 2018-2022
Base Year: 2023
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20
Segment Insights on the Refrigeration Oil Market:
The global refrigeration oil market is segmented based on oil type, application type, sales type, and region.
Based on oil type - The market is segmented as mineral oil and synthetic oil. The synthetic oil segment held the larger share of the market in 2023 and is expected to remain dominant during the forecast period. Synthetic oil is further classified as polyolester, polyalkylene glycol, and others. Higher performance in critical conditions, higher thermal stability, viscosity, and chemical resistance, compared to mineral oil along with its increasing demand in low GWP and CO2 refrigeration systems; is the major factor behind the dominance of synthetic oil in the market.
Based on application type - The market is segmented as refrigerator & freezer, air conditioner, and automotive AC systems. The refrigerator & freezer segment dominates the market, owing to the increasing sales of refrigerators & freezers in the global market.
To know the most attractive segments, click here:
https://www.stratviewresearch.com/2875/refrigeration-oil-market.html
Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that Asia-Pacific is expected to be the dominant region in the market during the forecast period.. This growth outlook is majorly attributed to the following-
• The Asia-Pacific region is the largest market for the food & beverage and consumer goods sectors; thus, creating a high demand for refrigerant oil in the region.
• Rapid industrialization and urbanization in developing countries such as India and China are likely to boost the demand for refrigerant oil in the region during the forecast period.
• North America and Europe are also expected to offer substantial growth opportunities over the forecast period.
Refrigeration Oil Market Drivers:
Some of the key drivers listed in the report are given below.
• Increasing demand for refrigerators & freezers, and air conditioning systems.
• Increasing consumption of packaged food products globally.
Top Companies in the Refrigeration Oil Market:
Stratview Research has identified the following companies as the top market players.
• JXTG Group
• BASF SE
• Idemitsu Kosan Co., Ltd.
• Royal Dutch Shell plc
• Exxon Mobil Corporation
• BP p.l.c.
• Petroliam Nasional Berhad (PETRONAS)
• Chevron Corporation
• Total S.A.
• China Petrochemical Corporation (Sinopec Group)
• Fuchs Petrolub SE
• Johnson Controls International plc, and
• The Lubrizol Corporation (CPI Fluid Engineering Services).
What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Refrigeration Oil Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
Related Reports:
• Heat Transfer Fluid Market: https://www.stratviewresearch.com/1058/heat-transfer-fluid-market.html
• Compressor Oil Market: https://www.stratviewresearch.com/881/compressor-oil-market.html
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About Us:
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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