Compressor Oil Market Report by Compressor Type (Positive Displacement Compressor, Dynamic Compressor), Base Oil (Synthetic Oil, Mineral Oil, Semi-Synthetic Oil, Bio-Based Oil), Application (Gas Compressor, Air Compressor), End Use Industry (General Manufacturing, Construction, Oil and Gas, Mining, Chemical and Petrochemical, Power Generation, and Others), and Region 2024-2032
The global compressor oil market size reached US$ 6.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 9.4 Billion by 2032, exhibiting a growth rate (CAGR) of 3.8% during 2024-2032. Increasing industrialization and automation across sectors, stringent environmental regulations favoring eco-friendly compressor oils, the expanding heating, ventilation, and air conditioning (HVAC) industry, the demand for compressors in various applications, and research-driven innovation in compressor oil formulations contribute to market expansion.
Compressor oil, often referred to as lubricating oil, is a specialized fluid used in various types of compressors to ensure their smooth and efficient operation. Its primary purpose is to lubricate the moving parts within the compressor, reducing friction and wear thereby extending the equipment's lifespan. Compressor oil also plays a crucial role in dissipating heat generated during compression, helping to maintain optimal operating temperatures. There are several advantages associated with using compressor oil, including enhanced performance, reduced maintenance costs, and improved energy efficiency. It aids in sealing and preventing air leakage, leading to higher compression ratios. Additionally, compressor oil provides rust and corrosion protection to critical components. There are different types of compressor oils designed to suit specific compressor applications, including mineral-based oils, synthetic oils, and semi-synthetic oils. Mineral-based oils are cost-effective and suitable for standard compressors, while synthetic oils offer superior performance, especially in extreme conditions, owing to their resistance to oxidation and wide temperature range. Semi-synthetic oils combine the benefits of both types, offering a balance between cost-efficiency and performance.
The global compressor oil market is influenced by the increasing demand for compressors across various industries, including manufacturing, automotive, and oil & gas. Additionally, stringent environmental regulations regarding emissions and energy efficiency are prompting the adoption of advanced compressor oils that contribute to lower carbon footprints, which is augmenting market growth. In line with this, the growing trend of industrial automation and the expansion of the heating, ventilation, and air conditioning (HVAC) industry are also driving the market growth. Furthermore, the maintenance and replacement cycles of compressors in existing infrastructure play a pivotal role in sustaining the market. Apart from this, key market players are continuously investing in research and development (R&D) to produce innovative and high-performance compressor oils, which further propels market growth.
Compressor Oil Market Trends/Drivers:
Increasing demand for compressors
The primary driver propelling the global compressor oil market is the increasing demand for compressors across various industries. Compressors are key components in a wide range of applications, from manufacturing and automotive to oil & gas and HVAC systems. As industries expand and modernize their operations, the need for compressors to facilitate processes like air compression, refrigeration, and gas handling grows in tandem. This heightened demand directly impacts the market for compressor oils, which are crucial for ensuring the efficient and smooth functioning of these machines. With the globalization of markets and the constant quest for higher productivity, industries worldwide are embracing advanced technologies that rely on compressors. This, in turn, fuels the requirement for high-quality compressor oils. Manufacturers and suppliers of compressor oils are focusing on developing products that not only lubricate but also enhance the performance and longevity of compressors. Consequently, the increasing demand for compressors remains a pivotal driver in the growth of the global compressor oil market.
Stringent environmental regulations
Another significant driver influencing the global compressor oil market is the stringent environmental regulations imposed by governments worldwide. These regulations aim to curb emissions, enhance energy efficiency, and reduce the environmental footprint of industrial processes. In response to these mandates, industries are transitioning towards eco-friendly and sustainable practices, including the adoption of environmentally compliant compressor oils. Compressor oils play a crucial role in minimizing energy consumption and emissions in compressor operations. This has led to a growing demand for compressor oils with improved environmental credentials, such as low toxicity and biodegradability. Market players are investing in research and development to formulate compressor oils that not only meet these environmental standards but also provide high-performance lubrication.
Rise of industrial automation and HVAC expansion
The global compressor oil market is further influenced by the rise of industrial automation and the expansion of the HVAC (Heating, Ventilation, and Air Conditioning) industry. Automation is becoming increasingly prevalent in manufacturing and industrial processes, leading to a higher demand for compressors to support automated systems. Compressor oils are essential for maintaining the efficient operation of these automated compressors. Additionally, the HVAC industry is experiencing significant growth due to urbanization, rising living standards, and climate control needs. HVAC systems rely on compressors to manage temperature and air quality, creating a consistent demand for compressor oils. The expansion of this industry, particularly in emerging economies, is a key driver for the compressor oil market.
Compressor Oil Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global compressor oil market report, along with forecasts at the global and regional levels from 2024-2032. Our report has categorized the market based on compressor type, base oil, application and end use industry.
Breakup by Compressor Type:
Positive Displacement Compressor
Dynamic Compressor
Dynamic compressor dominates the market
A detailed breakup and analysis of the market based on the compressor type has also been provided in the report. This includes positive displacement compressor and dynamic compressor. According to the report, dynamic compressor represented the largest segment.
The dynamic compressor segment is witnessing robust growth driven by rapid industrialization and the increasing adoption of automated systems across various industries. These machines are essential for maintaining efficient and reliable pneumatic and hydraulic operations, thus becoming integral components of automated processes. In line with this, stringent environmental regulations have prompted industries to seek more energy-efficient solutions, which is supporting segment growth. Dynamic compressors, with their capacity for higher compression ratios and greater energy efficiency, are becoming the preferred choice in this context. Additionally, the growth of the HVAC industry, driven by urbanization and rising living standards, has led to increased demand for dynamic compressors for air conditioning and refrigeration applications. Moreover, technological advancements and innovations in dynamic compressor design and materials are enhancing their performance, durability, and versatility, further fueling market growth. Furthermore, globalization and expanding industrial operations in emerging economies are creating opportunities for dynamic compressor manufacturers. Apart from this, ongoing research and development efforts to optimize dynamic compressor designs and capabilities ensure a promising outlook for this segment in the foreseeable future.
Breakup by Base Oil:
Synthetic Oil
Mineral Oil
Semi-Synthetic Oil
Bio-Based Oil
Synthetic oil dominates the market
The report has provided a detailed breakup and analysis of the market based on the base oil. This includes synthetic oil, mineral oil, semi-synthetic oil, and bio-based oil. According to the report, synthetic oil represented the largest segment.
The synthetic oil segment is witnessing robust growth in the global compressor oil market, primarily driven by the surging demand for high-performance lubricants capable of withstanding extreme operating conditions. Synthetic compressor oils are engineered to offer exceptional thermal stability, oxidation resistance, and reduced volatility, making them ideal for compressors operating at elevated temperatures and pressures. In line with this, stringent environmental regulations are pushing industries towards more environmentally friendly solutions. Synthetic compressor oils, with their low toxicity and biodegradability, align with these regulations and are increasingly favored over conventional mineral-based oils. Furthermore, the growing trend of industrial automation and the need for compressor oils that can provide consistent lubrication and protection in automated systems are boosting the demand for synthetic variants. Additionally, advancements in synthetic oil formulations, driven by ongoing research and development efforts, are continually improving their performance characteristics.
Breakup by Application:
Gas Compressor
Air Compressor
Air compressor dominates the market
A detailed breakup and analysis of the market based on the application has also been provided in the report. This includes gas compressor and air compressor. According to the report, air compressor represented the largest segment.
The growth of the air compressor segment is primarily driven by the expansion of industries, such as manufacturing, automotive, construction, and oil & gas relies. This sustained industrialization is fueling the demand for air compressors. This is further supported by the increasing awareness of energy efficiency and environmental concerns, which is promoting the adoption of more advanced and energy-efficient air compressors. Moreover, stringent regulations and emissions standards are pushing industries to replace outdated and less environmentally friendly compressors with newer, eco-friendly models. Additionally, the growing trend of automation in manufacturing and industrial processes necessitates the use of air compressors, driving their demand further. In line with this, the construction industry's rapid development, especially in emerging economies, requires air compressors for tasks like drilling and excavation. Furthermore, ongoing research and development efforts are resulting in more reliable and efficient air compressors, attracting users looking for enhanced performance and reduced operational costs.
Breakup by End Use Industry:
General Manufacturing
Construction
Oil and Gas
Mining
Chemical and Petrochemical
Power Generation
Others
General manufacturing holds the largest share in the market
A detailed breakup and analysis of the market based on the end use industry has also been provided in the report. This includes general manufacturing, construction, oil and gas, mining, chemical and petrochemical, power generation, and others. According to the report, general manufacturing represented the largest segment.
The growth of the general manufacturing segment is primarily driven by technological advancements, as automation, robotics, and Industry 4.0 concepts are increasingly integrated into manufacturing processes, enhancing efficiency and productivity. Additionally, the globalization of supply chains and markets opens up new opportunities for manufacturers to expand their reach and tap into diverse customer bases. Moreover, sustainability has become a driving force in manufacturing, with companies adopting eco-friendly practices to meet consumer and regulatory demands. This includes the use of green materials, energy-efficient processes, and reduced waste generation. Furthermore, the rise of e-commerce and changing consumer preferences for customization and shorter lead times are pushing manufacturers to be more agile and flexible in their operations. Government policies and incentives to promote local manufacturing, coupled with advancements in materials science, also stimulate growth. Apart from this, the ongoing emphasis on research and development fosters innovation in product design and manufacturing processes, further fueling the general manufacturing segment's expansion.
Breakup by Region:
Asia Pacific
Europe
North America
Middle East and Africa
Latin America
Asia Pacific exhibits a clear dominance, accounting for the largest compressor oil market share
The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. According to the report, Asia Pacific represented the largest segment.
The Asia Pacific region is witnessing robust growth in the compressor oil market, primarily driven by the region's rapid industrialization and urbanization, which are generating significant demand for compressors across diverse industries, including manufacturing, construction, and automotive. As these sectors expand and modernize their operations, the need for efficient compressor systems, and consequently, high-quality compressor oils, is on the rise. In line with this, stringent environmental regulations in countries like China, India, and Japan are pushing industries to adopt eco-friendly compressor oils that reduce emissions and comply with environmental standards. This regulatory pressure is fostering a transition towards more sustainable lubrication solutions, thereby boosting the demand for environmentally compliant compressor oils. Furthermore, the burgeoning heating, ventilation, and air conditioning (HVAC) industry in the Asia Pacific region, driven by increasing middle-class populations and rising temperatures, relies heavily on compressors and compressor oils to maintain indoor air quality and comfort.
Competitive Landscape:
The competitive landscape in the global compressor oil market is characterized by a dynamic and evolving environment. Market players are constantly striving to gain a competitive edge through strategies such as product innovation, strategic partnerships, and expansion into emerging markets. In this highly competitive arena, research and development efforts are pivotal. Companies are investing in developing advanced compressor oil formulations that not only provide efficient lubrication but also meet stringent environmental regulations. Additionally, strategic collaborations with compressor manufacturers and end-users are being forged to ensure a steady demand for their products.
Global expansion is a key strategy for many companies, as they seek to tap into emerging markets with growing industrial sectors. Market players are also focusing on optimizing their supply chains and distribution networks to ensure timely and efficient delivery of compressor oils to customers worldwide. Maintaining a strong commitment to sustainability and environmental responsibility is becoming increasingly important in the competitive landscape. Companies that can offer eco-friendly compressor oils that align with environmental regulations are likely to gain a competitive advantage.
The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
Royal Dutch Shell PLC
ExxonMobil Corporation
BP International Limited
Chevron Corporation
Total S.A.
Sinopec Group
The PJSC Lukoil Oil Company
Indian Oil Corporation Ltd.
The Fuchs Group
Idemitsu Kosan Co. Ltd.
Petroliam Nasional Berhad (Petronas)
DuPont de Nemours, Inc. (DuPont)
Croda International PLC
Sasol Limited
The Phillips 66 Company
Bel-Ray Company LLC
Morris Lubricants Limited
Penrite Oil Company
Recent Developments:
In May 2022, PJSC Lukoil announced conclusion of an agreement with subsidiaries of Shell plc (Shell) to acquire 100% share in the company, which conducts retail petroleum products sales and lubricants production in Russia.
In November 2022, The Department of the Treasury’s Office of Foreign Assets Control (OFAC) circulated Venezuela General License (GL) 41, authorizing Chevron Corporation (Chevron) to resume limited natural resource extraction operations in Venezuela.
In August 2023, BP moved a step closer to boosting oil and gas production at its flagship Azeri-Chirag-Gunashli (ACG) field in Azerbaijan’s sector of the Caspian Sea after a 20,000-ton deck for the Azeri Central East (ACE) platform left a local shipyard.
Key Questions Answered in This Report
1. What was the size of the global compressor oil market in 2023?
2. What is the expected growth rate of the global compressor oil market during 2024-2032?
3. What are the key factors driving the global compressor oil market?
4. What has been the impact of COVID-19 on the global compressor oil market?
5. What is the breakup of the global compressor oil market based on the compressor type?
6. What is the breakup of the global compressor oil market based on the application?
7. What are the key regions in the global compressor oil market?
8. Who are the key players/companies in the global compressor oil market?
Compressor oil, often referred to as lubricating oil, is a specialized fluid used in various types of compressors to ensure their smooth and efficient operation. Its primary purpose is to lubricate the moving parts within the compressor, reducing friction and wear thereby extending the equipment's lifespan. Compressor oil also plays a crucial role in dissipating heat generated during compression, helping to maintain optimal operating temperatures. There are several advantages associated with using compressor oil, including enhanced performance, reduced maintenance costs, and improved energy efficiency. It aids in sealing and preventing air leakage, leading to higher compression ratios. Additionally, compressor oil provides rust and corrosion protection to critical components. There are different types of compressor oils designed to suit specific compressor applications, including mineral-based oils, synthetic oils, and semi-synthetic oils. Mineral-based oils are cost-effective and suitable for standard compressors, while synthetic oils offer superior performance, especially in extreme conditions, owing to their resistance to oxidation and wide temperature range. Semi-synthetic oils combine the benefits of both types, offering a balance between cost-efficiency and performance.
The global compressor oil market is influenced by the increasing demand for compressors across various industries, including manufacturing, automotive, and oil & gas. Additionally, stringent environmental regulations regarding emissions and energy efficiency are prompting the adoption of advanced compressor oils that contribute to lower carbon footprints, which is augmenting market growth. In line with this, the growing trend of industrial automation and the expansion of the heating, ventilation, and air conditioning (HVAC) industry are also driving the market growth. Furthermore, the maintenance and replacement cycles of compressors in existing infrastructure play a pivotal role in sustaining the market. Apart from this, key market players are continuously investing in research and development (R&D) to produce innovative and high-performance compressor oils, which further propels market growth.
Compressor Oil Market Trends/Drivers:
Increasing demand for compressors
The primary driver propelling the global compressor oil market is the increasing demand for compressors across various industries. Compressors are key components in a wide range of applications, from manufacturing and automotive to oil & gas and HVAC systems. As industries expand and modernize their operations, the need for compressors to facilitate processes like air compression, refrigeration, and gas handling grows in tandem. This heightened demand directly impacts the market for compressor oils, which are crucial for ensuring the efficient and smooth functioning of these machines. With the globalization of markets and the constant quest for higher productivity, industries worldwide are embracing advanced technologies that rely on compressors. This, in turn, fuels the requirement for high-quality compressor oils. Manufacturers and suppliers of compressor oils are focusing on developing products that not only lubricate but also enhance the performance and longevity of compressors. Consequently, the increasing demand for compressors remains a pivotal driver in the growth of the global compressor oil market.
Stringent environmental regulations
Another significant driver influencing the global compressor oil market is the stringent environmental regulations imposed by governments worldwide. These regulations aim to curb emissions, enhance energy efficiency, and reduce the environmental footprint of industrial processes. In response to these mandates, industries are transitioning towards eco-friendly and sustainable practices, including the adoption of environmentally compliant compressor oils. Compressor oils play a crucial role in minimizing energy consumption and emissions in compressor operations. This has led to a growing demand for compressor oils with improved environmental credentials, such as low toxicity and biodegradability. Market players are investing in research and development to formulate compressor oils that not only meet these environmental standards but also provide high-performance lubrication.
Rise of industrial automation and HVAC expansion
The global compressor oil market is further influenced by the rise of industrial automation and the expansion of the HVAC (Heating, Ventilation, and Air Conditioning) industry. Automation is becoming increasingly prevalent in manufacturing and industrial processes, leading to a higher demand for compressors to support automated systems. Compressor oils are essential for maintaining the efficient operation of these automated compressors. Additionally, the HVAC industry is experiencing significant growth due to urbanization, rising living standards, and climate control needs. HVAC systems rely on compressors to manage temperature and air quality, creating a consistent demand for compressor oils. The expansion of this industry, particularly in emerging economies, is a key driver for the compressor oil market.
Compressor Oil Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global compressor oil market report, along with forecasts at the global and regional levels from 2024-2032. Our report has categorized the market based on compressor type, base oil, application and end use industry.
Breakup by Compressor Type:
Positive Displacement Compressor
Dynamic Compressor
Dynamic compressor dominates the market
A detailed breakup and analysis of the market based on the compressor type has also been provided in the report. This includes positive displacement compressor and dynamic compressor. According to the report, dynamic compressor represented the largest segment.
The dynamic compressor segment is witnessing robust growth driven by rapid industrialization and the increasing adoption of automated systems across various industries. These machines are essential for maintaining efficient and reliable pneumatic and hydraulic operations, thus becoming integral components of automated processes. In line with this, stringent environmental regulations have prompted industries to seek more energy-efficient solutions, which is supporting segment growth. Dynamic compressors, with their capacity for higher compression ratios and greater energy efficiency, are becoming the preferred choice in this context. Additionally, the growth of the HVAC industry, driven by urbanization and rising living standards, has led to increased demand for dynamic compressors for air conditioning and refrigeration applications. Moreover, technological advancements and innovations in dynamic compressor design and materials are enhancing their performance, durability, and versatility, further fueling market growth. Furthermore, globalization and expanding industrial operations in emerging economies are creating opportunities for dynamic compressor manufacturers. Apart from this, ongoing research and development efforts to optimize dynamic compressor designs and capabilities ensure a promising outlook for this segment in the foreseeable future.
Breakup by Base Oil:
Synthetic Oil
Mineral Oil
Semi-Synthetic Oil
Bio-Based Oil
Synthetic oil dominates the market
The report has provided a detailed breakup and analysis of the market based on the base oil. This includes synthetic oil, mineral oil, semi-synthetic oil, and bio-based oil. According to the report, synthetic oil represented the largest segment.
The synthetic oil segment is witnessing robust growth in the global compressor oil market, primarily driven by the surging demand for high-performance lubricants capable of withstanding extreme operating conditions. Synthetic compressor oils are engineered to offer exceptional thermal stability, oxidation resistance, and reduced volatility, making them ideal for compressors operating at elevated temperatures and pressures. In line with this, stringent environmental regulations are pushing industries towards more environmentally friendly solutions. Synthetic compressor oils, with their low toxicity and biodegradability, align with these regulations and are increasingly favored over conventional mineral-based oils. Furthermore, the growing trend of industrial automation and the need for compressor oils that can provide consistent lubrication and protection in automated systems are boosting the demand for synthetic variants. Additionally, advancements in synthetic oil formulations, driven by ongoing research and development efforts, are continually improving their performance characteristics.
Breakup by Application:
Gas Compressor
Air Compressor
Air compressor dominates the market
A detailed breakup and analysis of the market based on the application has also been provided in the report. This includes gas compressor and air compressor. According to the report, air compressor represented the largest segment.
The growth of the air compressor segment is primarily driven by the expansion of industries, such as manufacturing, automotive, construction, and oil & gas relies. This sustained industrialization is fueling the demand for air compressors. This is further supported by the increasing awareness of energy efficiency and environmental concerns, which is promoting the adoption of more advanced and energy-efficient air compressors. Moreover, stringent regulations and emissions standards are pushing industries to replace outdated and less environmentally friendly compressors with newer, eco-friendly models. Additionally, the growing trend of automation in manufacturing and industrial processes necessitates the use of air compressors, driving their demand further. In line with this, the construction industry's rapid development, especially in emerging economies, requires air compressors for tasks like drilling and excavation. Furthermore, ongoing research and development efforts are resulting in more reliable and efficient air compressors, attracting users looking for enhanced performance and reduced operational costs.
Breakup by End Use Industry:
General Manufacturing
Construction
Oil and Gas
Mining
Chemical and Petrochemical
Power Generation
Others
General manufacturing holds the largest share in the market
A detailed breakup and analysis of the market based on the end use industry has also been provided in the report. This includes general manufacturing, construction, oil and gas, mining, chemical and petrochemical, power generation, and others. According to the report, general manufacturing represented the largest segment.
The growth of the general manufacturing segment is primarily driven by technological advancements, as automation, robotics, and Industry 4.0 concepts are increasingly integrated into manufacturing processes, enhancing efficiency and productivity. Additionally, the globalization of supply chains and markets opens up new opportunities for manufacturers to expand their reach and tap into diverse customer bases. Moreover, sustainability has become a driving force in manufacturing, with companies adopting eco-friendly practices to meet consumer and regulatory demands. This includes the use of green materials, energy-efficient processes, and reduced waste generation. Furthermore, the rise of e-commerce and changing consumer preferences for customization and shorter lead times are pushing manufacturers to be more agile and flexible in their operations. Government policies and incentives to promote local manufacturing, coupled with advancements in materials science, also stimulate growth. Apart from this, the ongoing emphasis on research and development fosters innovation in product design and manufacturing processes, further fueling the general manufacturing segment's expansion.
Breakup by Region:
Asia Pacific
Europe
North America
Middle East and Africa
Latin America
Asia Pacific exhibits a clear dominance, accounting for the largest compressor oil market share
The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. According to the report, Asia Pacific represented the largest segment.
The Asia Pacific region is witnessing robust growth in the compressor oil market, primarily driven by the region's rapid industrialization and urbanization, which are generating significant demand for compressors across diverse industries, including manufacturing, construction, and automotive. As these sectors expand and modernize their operations, the need for efficient compressor systems, and consequently, high-quality compressor oils, is on the rise. In line with this, stringent environmental regulations in countries like China, India, and Japan are pushing industries to adopt eco-friendly compressor oils that reduce emissions and comply with environmental standards. This regulatory pressure is fostering a transition towards more sustainable lubrication solutions, thereby boosting the demand for environmentally compliant compressor oils. Furthermore, the burgeoning heating, ventilation, and air conditioning (HVAC) industry in the Asia Pacific region, driven by increasing middle-class populations and rising temperatures, relies heavily on compressors and compressor oils to maintain indoor air quality and comfort.
Competitive Landscape:
The competitive landscape in the global compressor oil market is characterized by a dynamic and evolving environment. Market players are constantly striving to gain a competitive edge through strategies such as product innovation, strategic partnerships, and expansion into emerging markets. In this highly competitive arena, research and development efforts are pivotal. Companies are investing in developing advanced compressor oil formulations that not only provide efficient lubrication but also meet stringent environmental regulations. Additionally, strategic collaborations with compressor manufacturers and end-users are being forged to ensure a steady demand for their products.
Global expansion is a key strategy for many companies, as they seek to tap into emerging markets with growing industrial sectors. Market players are also focusing on optimizing their supply chains and distribution networks to ensure timely and efficient delivery of compressor oils to customers worldwide. Maintaining a strong commitment to sustainability and environmental responsibility is becoming increasingly important in the competitive landscape. Companies that can offer eco-friendly compressor oils that align with environmental regulations are likely to gain a competitive advantage.
The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
Royal Dutch Shell PLC
ExxonMobil Corporation
BP International Limited
Chevron Corporation
Total S.A.
Sinopec Group
The PJSC Lukoil Oil Company
Indian Oil Corporation Ltd.
The Fuchs Group
Idemitsu Kosan Co. Ltd.
Petroliam Nasional Berhad (Petronas)
DuPont de Nemours, Inc. (DuPont)
Croda International PLC
Sasol Limited
The Phillips 66 Company
Bel-Ray Company LLC
Morris Lubricants Limited
Penrite Oil Company
Recent Developments:
In May 2022, PJSC Lukoil announced conclusion of an agreement with subsidiaries of Shell plc (Shell) to acquire 100% share in the company, which conducts retail petroleum products sales and lubricants production in Russia.
In November 2022, The Department of the Treasury’s Office of Foreign Assets Control (OFAC) circulated Venezuela General License (GL) 41, authorizing Chevron Corporation (Chevron) to resume limited natural resource extraction operations in Venezuela.
In August 2023, BP moved a step closer to boosting oil and gas production at its flagship Azeri-Chirag-Gunashli (ACG) field in Azerbaijan’s sector of the Caspian Sea after a 20,000-ton deck for the Azeri Central East (ACE) platform left a local shipyard.
Key Questions Answered in This Report
1. What was the size of the global compressor oil market in 2023?
2. What is the expected growth rate of the global compressor oil market during 2024-2032?
3. What are the key factors driving the global compressor oil market?
4. What has been the impact of COVID-19 on the global compressor oil market?
5. What is the breakup of the global compressor oil market based on the compressor type?
6. What is the breakup of the global compressor oil market based on the application?
7. What are the key regions in the global compressor oil market?
8. Who are the key players/companies in the global compressor oil market?
1 PREFACE
2 SCOPE AND METHODOLOGY
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 EXECUTIVE SUMMARY
4 INTRODUCTION
4.1 Overview
4.2 Key Industry Trends
5 GLOBAL COMPRESSOR OIL MARKET
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Compressor Type
5.5 Market Breakup by Base Oil
5.6 Market Breakup by Application
5.7 Market Breakup by End Use Industry
5.8 Market Breakup by Region
5.9 Market Forecast
6 MARKET BREAKUP BY COMPRESSOR TYPE
6.1 Positive Displacement Compressor
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Dynamic Compressor
6.2.1 Market Trends
6.2.2 Market Forecast
7 MARKET BREAKUP BY BASE OIL
7.1 Synthetic Oil
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Mineral Oil
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Semi-Synthetic Oil
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Bio-Based Oil
7.4.1 Market Trends
7.4.2 Market Forecast
8 MARKET BREAKUP BY APPLICATION
8.1 Gas Compressor
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Air Compressor
8.2.1 Market Trends
8.2.2 Market Forecast
9 MARKET BREAKUP BY END USE INDUSTRY
9.1 General Manufacturing
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Construction
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Oil and Gas
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Mining
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Chemical and Petrochemical
9.5.1 Market Trends
9.5.2 Market Forecast
9.6 Power Generation
9.6.1 Market Trends
9.6.2 Market Forecast
9.7 Others
9.7.1 Market Trends
9.7.2 Market Forecast
10 MARKET BREAKUP BY REGION
10.1 Asia Pacific
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Europe
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 North America
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Middle East and Africa
10.4.1 Market Trends
10.4.2 Market Forecast
10.5 Latin America
10.5.1 Market Trends
10.5.2 Market Forecast
11 SWOT ANALYSIS
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 VALUE CHAIN ANALYSIS
13 PORTERS FIVE FORCES ANALYSIS
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 PRICE ANALYSIS
15 COMPETITIVE LANDSCAPE
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Royal Dutch Shell PLC
15.3.2 ExxonMobil Corporation
15.3.3 BP International Limited
15.3.4 Chevron Corporation
15.3.5 Total S.A.
15.3.6 Sinopec Group
15.3.7 The PJSC Lukoil Oil Company
15.3.8 Indian Oil Corporation Ltd.
15.3.9 The Fuchs Group
15.3.10 Idemitsu Kosan Co. Ltd.
15.3.11 Petroliam Nasional Berhad (Petronas)
15.3.12 DuPont de Nemours, Inc. (DuPont)
15.3.13 Croda International PLC.
15.3.14 Sasol Limited
15.3.15 The Phillips 66 Company
15.3.16 Bel-Ray Company LLC.
15.3.17 Morris Lubricants Limited
15.3.18 Penrite Oil Company
2 SCOPE AND METHODOLOGY
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 EXECUTIVE SUMMARY
4 INTRODUCTION
4.1 Overview
4.2 Key Industry Trends
5 GLOBAL COMPRESSOR OIL MARKET
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Compressor Type
5.5 Market Breakup by Base Oil
5.6 Market Breakup by Application
5.7 Market Breakup by End Use Industry
5.8 Market Breakup by Region
5.9 Market Forecast
6 MARKET BREAKUP BY COMPRESSOR TYPE
6.1 Positive Displacement Compressor
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Dynamic Compressor
6.2.1 Market Trends
6.2.2 Market Forecast
7 MARKET BREAKUP BY BASE OIL
7.1 Synthetic Oil
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Mineral Oil
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Semi-Synthetic Oil
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Bio-Based Oil
7.4.1 Market Trends
7.4.2 Market Forecast
8 MARKET BREAKUP BY APPLICATION
8.1 Gas Compressor
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Air Compressor
8.2.1 Market Trends
8.2.2 Market Forecast
9 MARKET BREAKUP BY END USE INDUSTRY
9.1 General Manufacturing
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Construction
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Oil and Gas
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Mining
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Chemical and Petrochemical
9.5.1 Market Trends
9.5.2 Market Forecast
9.6 Power Generation
9.6.1 Market Trends
9.6.2 Market Forecast
9.7 Others
9.7.1 Market Trends
9.7.2 Market Forecast
10 MARKET BREAKUP BY REGION
10.1 Asia Pacific
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Europe
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 North America
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Middle East and Africa
10.4.1 Market Trends
10.4.2 Market Forecast
10.5 Latin America
10.5.1 Market Trends
10.5.2 Market Forecast
11 SWOT ANALYSIS
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 VALUE CHAIN ANALYSIS
13 PORTERS FIVE FORCES ANALYSIS
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 PRICE ANALYSIS
15 COMPETITIVE LANDSCAPE
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Royal Dutch Shell PLC
15.3.2 ExxonMobil Corporation
15.3.3 BP International Limited
15.3.4 Chevron Corporation
15.3.5 Total S.A.
15.3.6 Sinopec Group
15.3.7 The PJSC Lukoil Oil Company
15.3.8 Indian Oil Corporation Ltd.
15.3.9 The Fuchs Group
15.3.10 Idemitsu Kosan Co. Ltd.
15.3.11 Petroliam Nasional Berhad (Petronas)
15.3.12 DuPont de Nemours, Inc. (DuPont)
15.3.13 Croda International PLC.
15.3.14 Sasol Limited
15.3.15 The Phillips 66 Company
15.3.16 Bel-Ray Company LLC.
15.3.17 Morris Lubricants Limited
15.3.18 Penrite Oil Company
LIST OF TABLES
Table 1: Global: Compressor Oil Market: Key Industry Highlights, 2023 & 2032
Table 2: Global: Compressor Oil Market Forecast: Breakup by Compressor Type (in Million US$), 2024-2032
Table 3: Global: Compressor Oil Market Forecast: Breakup by Base Oil (in Million US$), 2024-2032
Table 4: Global: Compressor Oil Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 5: Global: Compressor Oil Market Forecast: Breakup by End Use Industry (in Million US$), 2024-2032
Table 6: Global: Compressor Oil Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 7: Global: Compressor Oil Market Structure
Table 8: Global: Compressor Oil Market: Key Players
Table 1: Global: Compressor Oil Market: Key Industry Highlights, 2023 & 2032
Table 2: Global: Compressor Oil Market Forecast: Breakup by Compressor Type (in Million US$), 2024-2032
Table 3: Global: Compressor Oil Market Forecast: Breakup by Base Oil (in Million US$), 2024-2032
Table 4: Global: Compressor Oil Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 5: Global: Compressor Oil Market Forecast: Breakup by End Use Industry (in Million US$), 2024-2032
Table 6: Global: Compressor Oil Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 7: Global: Compressor Oil Market Structure
Table 8: Global: Compressor Oil Market: Key Players
LIST OF FIGURES
Figure 1: Global: Compressor Oil Market: Major Drivers and Challenges
Figure 2: Global: Compressor Oil Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Compressor Oil Market: Breakup by Compressor Type (in %), 2023
Figure 4: Global: Compressor Oil Market: Breakup by Base Oil (in %), 2023
Figure 5: Global: Compressor Oil Market: Breakup by Application (in %), 2023
Figure 6: Global: Compressor Oil Market: Breakup by End Use Industry (in %), 2023
Figure 7: Global: Compressor Oil Market: Breakup by Region (in %), 2023
Figure 8: Global: Compressor Oil Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 9: Global: Compressor Oil Industry: SWOT Analysis
Figure 10: Global: Compressor Oil Industry: Value Chain Analysis
Figure 11: Global: Compressor Oil Industry: Porter’s Five Forces Analysis
Figure 12: Global: Compressor Oil (Positive Displacement Compressor) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: Compressor Oil (Positive Displacement Compressor) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: Compressor Oil (Dynamic Compressor) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: Compressor Oil (Dynamic Compressor) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: Compressor Oil (Synthetic) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: Compressor Oil (Synthetic) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: Compressor Oil (Mineral) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: Compressor Oil (Mineral) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: Compressor Oil (Semi-Synthetic) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: Compressor Oil (Semi-Synthetic) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: Compressor Oil (Bio-Based) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: Compressor Oil (Bio-Based) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: Compressor Oil (Gas Compressor) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: Compressor Oil (Gas Compressor) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: Global: Compressor Oil (Air Compressor) Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: Global: Compressor Oil (Air Compressor) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: Global: Compressor Oil (General Manufacturing) Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: Global: Compressor Oil (General Manufacturing) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: Global: Compressor Oil (Construction) Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: Global: Compressor Oil (Construction) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: Global: Compressor Oil (Oil and Gas) Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: Global: Compressor Oil (Oil and Gas) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: Global: Compressor Oil (Mining) Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: Global: Compressor Oil (Mining) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: Global: Compressor Oil (Chemical and Petrochemical) Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: Global: Compressor Oil (Chemical and Petrochemical) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: Global: Compressor Oil (Power Generation) Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: Global: Compressor Oil (Power Generation) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: Global: Compressor Oil (Other Industries) Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: Global: Compressor Oil (Other Industries) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: Asia Pacific: Compressor Oil Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: Asia Pacific: Compressor Oil Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: Europe: Compressor Oil Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: Europe: Compressor Oil Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: North America: Compressor Oil Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: North America: Compressor Oil Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: Middle East and Africa: Compressor Oil Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: Middle East and Africa: Compressor Oil Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: Latin America: Compressor Oil Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: Latin America: Compressor Oil Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 1: Global: Compressor Oil Market: Major Drivers and Challenges
Figure 2: Global: Compressor Oil Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Compressor Oil Market: Breakup by Compressor Type (in %), 2023
Figure 4: Global: Compressor Oil Market: Breakup by Base Oil (in %), 2023
Figure 5: Global: Compressor Oil Market: Breakup by Application (in %), 2023
Figure 6: Global: Compressor Oil Market: Breakup by End Use Industry (in %), 2023
Figure 7: Global: Compressor Oil Market: Breakup by Region (in %), 2023
Figure 8: Global: Compressor Oil Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 9: Global: Compressor Oil Industry: SWOT Analysis
Figure 10: Global: Compressor Oil Industry: Value Chain Analysis
Figure 11: Global: Compressor Oil Industry: Porter’s Five Forces Analysis
Figure 12: Global: Compressor Oil (Positive Displacement Compressor) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: Compressor Oil (Positive Displacement Compressor) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: Compressor Oil (Dynamic Compressor) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: Compressor Oil (Dynamic Compressor) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: Compressor Oil (Synthetic) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: Compressor Oil (Synthetic) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: Compressor Oil (Mineral) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: Compressor Oil (Mineral) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: Compressor Oil (Semi-Synthetic) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: Compressor Oil (Semi-Synthetic) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: Compressor Oil (Bio-Based) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: Compressor Oil (Bio-Based) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: Compressor Oil (Gas Compressor) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: Compressor Oil (Gas Compressor) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: Global: Compressor Oil (Air Compressor) Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: Global: Compressor Oil (Air Compressor) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: Global: Compressor Oil (General Manufacturing) Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: Global: Compressor Oil (General Manufacturing) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: Global: Compressor Oil (Construction) Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: Global: Compressor Oil (Construction) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: Global: Compressor Oil (Oil and Gas) Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: Global: Compressor Oil (Oil and Gas) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: Global: Compressor Oil (Mining) Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: Global: Compressor Oil (Mining) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: Global: Compressor Oil (Chemical and Petrochemical) Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: Global: Compressor Oil (Chemical and Petrochemical) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: Global: Compressor Oil (Power Generation) Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: Global: Compressor Oil (Power Generation) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: Global: Compressor Oil (Other Industries) Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: Global: Compressor Oil (Other Industries) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: Asia Pacific: Compressor Oil Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: Asia Pacific: Compressor Oil Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: Europe: Compressor Oil Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: Europe: Compressor Oil Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: North America: Compressor Oil Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: North America: Compressor Oil Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: Middle East and Africa: Compressor Oil Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: Middle East and Africa: Compressor Oil Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: Latin America: Compressor Oil Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: Latin America: Compressor Oil Market Forecast: Sales Value (in Million US$), 2024-2032
