Global Refrigeration Oil Market to Reach US$ 1.77 Bn by 2025 End

 By the end of 2025, the global refrigeration oil market is expected to expand at a significant CAGR of 5.8%. Thus it is predicted that the global market for refrigeration oil have prosperous future in the coming decades. There are some factors which are responsible for this remarkable growth of the market. Some of these factors are, reimbursement policies offered by various NGOs and government especially to promote the services and energy-efficient products, rising inclination towards refrigerants with low-GWP and development in technology for example arrival of new system of HVAC&R in the healthcare sector and escalating application of refrigeration. Market Research Reports Search Engine (MRRSE) has added a new report in its database titled, “Refrigeration Oil Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025.” According to this report, the global market for refrigeration oil is estimated to be valued US$ 1.77 Bn by 2025 end.

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Global Refrigeration Oil Market- Opportunities and Trends

Changing priority towards chilled and frozen products
Increasing necessity for storage in food & beverages and pharmaceutical sector
Rising usage of refrigeration and air conditioner
Increasing demand for oil based products
Global Refrigeration Oil Market- Segmental Analysis and Forecast

Product type, application type, refrigerant type and end use type are four segmentations in the global market for refrigeration oil. The product type segment is consists of synthetic oil and mineral oil. There is a tremendous demand of synthetic oil which is resulted into reaching this segment at US$ 1,314.5 Mn by the end of 2025. Meanwhile, mineral oil segment is more beneficial then synthetic oil which is mostly used in industrial and mechanical application as a thermal fluid.

Refrigerant type segment includes the segments such as ammonia, hydrocholoroflurocarbon, hydro fluorocarbon and chlorofluorocarbon. Among all these segments, the segment of hydro fluorocarbon is expected to be valued more than other segments. This segment is likely to be valued US$ 476.1 Mn during projected period. In terms of CAGR, ammonia segment is likely to achieve highest CAGR i.e. 6.2% throughout the projected period.

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On the basis of application, the global market for refrigeration oil is segmented into condensers, air conditioner, chillers, and coolers. No wonder, air conditioner segments is expected to contribute the major share of demand. This segment is likely to touch US$ 535.3 Mn, with healthy CAGR of 7.7% between 2017 and 2025. End-use segment is consists of commercial and residential sectors. The residential segment is likely to project satisfactory rate of growth.

Global Refrigeration Oil Market- Regional Analysis

With more than 35% revenue share, Asia Pacific region leads the global market for refrigeration oil. China and India are the two countries which are responsible for increasing the growth of the refrigeration oil, as large number of demand for this oil come from these two regions. The reason behind this increasing demand for the refrigeration oil is growing sector for frozen food.

Global Refrigeration Oil Market- key Players

MEIWA, Idemitsu Kosan Co, Ltd., BASF, Royal Dutch Shell plc, and Exxon Mobil Corporation are five key players which are functioning in the global market for refrigeration oil.

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This release was published on openPR.