Tuesday, October, 15, 2019 03:15:39

How will the growth graph of compressor oil market perform on the basis of compressor type?

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.

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Compressor oil market will gain substantial benefits in the years to come, driven by increasing industrialization and subsequent rise in the demand for compressor oils. As a matter of fact, compressor oils have end-use applications in various sectors such as construction, infrastructure, manufacturing, food and beverage, chemical, mining, power generation and others. Compressor oil market size is expected to surpass $6.5 billion by 2025.

The compressor oil market has been divided into synthetic, mineral and others on the basis of base oil. The others segment includes bio-based and semi-synthetic oils. The mineral oil segment is anticipated to witness growth rate of nearly 2% over 2019-25. These oils are used in applications where there are excessive levels of acid gases and air contamination which can accrue in fluid and result in corrosion in compressors. Mineral compressor oils offer excellent oxidation resistance, owing to which they have been witnessing increasing demand of late.

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