The compressor oils industry size was USD 8.3 billion in 2020. The market is projected to grow from USD 8.7 billion in 2021 to USD 12.2 billion in 2028 at a CAGR of 5.0% during the 2021-2028 period. This vital information is presented by Fortune Business Insights™, in its report, titled, “Compressor Oils Market, 2021-2028.” Factors such as the ability to grant reliable & efficient functioning of machinery & other plant equipment and reducing breakdowns will boost the growth of the market during the forecast period. Additionally, the integration of biodegradable lubricants will increase the footprint of the market.
Competitive Landscape
Business Expansion & Product Launches to Push Dominant Players towards an Extended Growth
Industry Development
- April 2020: Champion Oil announced the launch of Professional Grade Heavy Duty compressor oil for a blend of racing shops, heavy-duty repair shops, maintenance facilities, auto dealers, truck stops, and other commercial markets. This oil can be used for use in engines that feature a single-stage, two-stage, and multi-stage reciprocating air compressors (piston type) or rotary screw compressors that boast of an SAE 30 "non-detergent" 30 weight oil.
List of Key Players Present in the Market
- Royal Dutch Shell plc (The Hague, Netherlands)
- Chevron Corporation (California, U.S.)
- Exxon Mobil Corporation (Texas, U.S.)
- Repsol (Madrid, Spain)
- FUCHS (Mannheim, Germany)
- Indian Oil Corporation Ltd (Mumbai, India)
- Total SA (Paris, France)
- CASTROL LIMITED (Pangbourne, U.K.)
- HP Lubricants (Mumbai, India)
- Klüber Lubrication (Weinheim, Germany)
- Atlas Copco AB (Stockholm, Sweden)
- Morris Lubricants (Shrewsbury, U.K.)
- Penrite Oil (Melbourne, Australia)
Information Source:
https://www.fortunebusinessinsights.com/industry-reports/compressor-oil-market-101310
