Compressor Oil Market Worth USD 83.97 Billion by 2021
PUNE, India, May 3, 2016 /PRNewswire/ --
The report "Compressor Oil Market by Compressor type (Positive Displacement and Dynamic), Base Oil Type (Synthetic, Semi-Synthetic, Mineral and Bio-based), End-Use Industry (Manufacturing, Oil & Gas, Power, and Automotive) & by Region - Global Forecast to 2021", published by MarketsandMarkets, The market is projected to reach USD 83.97 Billion by 2021, registering a CAGR of 6.1% between 2016 and 2021.
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Browse 139 market data Tables and 74 Figures spread through 222 Pages and in-depth TOC on "Compressor Oil Market"
http://www.marketsandmarkets.com/Market-Reports/compressor-oil-market-193873333.html
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The compressor oil market is driven by the rapid growth of end-use industries in the Asia-Pacific region. The increasing demand of automobiles in emerging economies such as China, India, and Japan is fueling the growth of the compressor oil market in the region. Another major factor contributing to the growth of compressor oil market is massive industrial growth in the developing regions, such as Asia-Pacific and the Middle East & Africa.
Synthetic compressor oil to account for the major share of the compressor oil market till 2021
The compressor oil market is segmented by base oil type, namely, synthetic compressor oil, semi-synthetic compressor oil, mineral compressor oil, and bio-based compressor oil. Synthetic compressor oil is the most preferred type of compressor oil and accounts for a major share in the global compressor oil market. Easy availability, high performance, and longer drain out time are the major driving factors of the synthetic compressor oil market.
Manufacturing industry to be the largest industry for the compressor oil market between 2016 and 2021
The manufacturing industry accounted for the largest share in the compressor oil market. This is due to the rising manufacturing industry and improving standard of living in the developing nations, which also lead to development of other industries, driving the compressor oil market. The manufacturing industry is subsegmented into chemical & petrochemical, metal production, construction & mining equipment, food & beverages, and others (including aerospace and agricultural equipment).
Asia-Pacific to be the largest market during the forecast period
The compressor oil market is broadly segmented into five regions, namely, Asia-Pacific, North America, Europe, the Middle East & Africa, and Latin America. Asia-Pacific is the largest market for compressor oil, followed by North America. The Asia-Pacific is projected to be the fastest-growing market during the forecast period. Growing industrialization has offered enormous opportunities for various manufacturing industries to use compressor oil in the Asia-Pacific region. Moreover, the increasing number of passenger and commercial vehicles in the region is fueling the growth of the compressor oil market.
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Currently, the global Compressor Oil Market is dominated by various market players, such as Royal Dutch Shell plc (Netherlands), Exxon Mobil Corporation (U.S.), Sinopec Limited (China), Total S.A. (France), Lukoil (Russia), BP plc (U.K.), Chevron Corporation (U.S.), Fuchs Petrolub AG (Germany), The Dow Chemical Company (U.S.), BASF SE (Germany), Croda International plc (U.K.), Sasol Limited (South Africa), and others.
The research study aims at identifying emerging trends and opportunities in the global compressor oil market along with a detailed classification of the market, in terms of value and volume. It provides a comprehensive competitive landscape and identifies the key players in the global market. The research study also includes a detailed segmentation of the global compressor oil market on the basis of application, type, and region.
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