Market Overview:
The global refrigeration compressor oil market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for energy-efficient appliances and rising awareness about the benefits of using synthetic oils over mineral oils. In terms of type, the synthetic oil segment is expected to grow at a higher CAGR than the mineral oil segment during the forecast period. This can be attributed to its superior properties such as high thermal stability, low volatility, and resistance against oxidation and corrosion. By application, refrigerator & freezer is estimated to account for a major share of the global refrigeration compressor oil market in 2018.
Product Definition:
Refrigeration compressor oil is a type of lubricant that is used in refrigeration compressors. This type of oil helps to reduce wear on the compressor and also helps to keep the compressor running smoothly. It is important to use refrigeration compressor oil in order to protect the equipment and ensure that it operates at peak efficiency.
Mineral Oil:
Mineral oil is a type of petroleum liquid derived from the distillation of crude oil. It consists of a mixture of various hydrocarbons, including alkanes and naphthenes. The chemical formula for mineral oil is (CnH)x where x represents an aliphatic or aromatic hydrocarbon chain ranging from length 20 to C40 group such as jet fuel, kerosene, diesel etc.
Synthetic Oil:
Synthetic oil is a manufactured product and has no relation to the mineral, animal, or plant oils. It is produced by the chemical reaction of chemicals known as esters with sulfuric acid. The most common type of synthetic oil used in compressor O-lubrication is mineral-based L-series lubricating oil which contains additives to improve viscosity index and provide antiwear protection along with maintaining thermal stability.
Application Insights:
The market is segmented by application into a refrigerator and freezer, air conditioner, automotive compressor system and others. The other applications include heat pump systems, industrial machinery compressors and ventilation systems. Refrigerator & freezer was the largest application segment in 2017 accounting for over 50% of the global refrigeration compressor oil demand. Increasing disposable income levels in developing countries such as India has led to an increase in demand for new residential construction which includes a fridge as part of the package deal. This factor along with increasing sales of portable coolers at sports events is expected to drive growth over the forecast period.
Air conditioner was another prominent segment accounting for nearly 15% of global volume share in 2017 due to rising consumer awareness about comfort levels while using air conditioning equipment especially during hot summer months across various regions globally including North America.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to rising disposable income, increasing population, and rapid urbanization & industrialization. Furthermore, emerging economies such as China and India are projected to witness strong economic growth over the coming years which will drive product demand across various industries including transportation & logistics, manufacturing sector etc.
The Europe market is anticipated to grow at a significant rate owing to stringent government regulations regarding VOC emissions in automotive applications along with growing environmental concerns among consumers pertaining towards refrigerant disposal issues. In addition, European Commission’s initiative for reducing greenhouse gas (GHG) emissions coupled with stringent laws concerning VOC emissions from new vehicles is expected favorably impact industry expansion over the next eight years or so.
Growth Factors:
- Increasing demand for refrigeration systems in food and beverage industry
- Rising disposable income of consumers in developing countries
- Technological advancements in compressor oil products
- Stringent environmental regulations for reducing greenhouse gas emissions
- Growing awareness about the benefits of using compressor oils
Scope Of The Report
Report Attributes
Report Details
Report Title
Refrigeration Compressor Oil Market Research Report
By Type
Mineral Oil, Synthetic Oil
By Application
Refrigerator & Freezer, Air Conditioner, Automotive AC System, Others
By Companies
Jxtg Group, BASF SE, Idemitsu Kosan Co., Ltd., Exxonmobil Corporation, Royal Dutch Shell Plc, Total S.A., China Petrochemical Corporation (Sinopec Group), Petroliam Nasional Berhad (PETRONAS), FUCHS Petrolub Se, Johnson Controls, Jxtg Group, BP P.L.C., Chevron Corporation
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
227
Number of Tables & Figures
159
Customization Available
Yes, the report can be customized as per your need.
Global Refrigeration Compressor Oil Market Report Segments:
The global Refrigeration Compressor Oil market is segmented on the basis of:
Types
Mineral Oil, Synthetic Oil
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Refrigerator & Freezer, Air Conditioner, Automotive AC System, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Jxtg Group
- BASF SE
- Idemitsu Kosan Co., Ltd.
- Exxonmobil Corporation
- Royal Dutch Shell Plc
- Total S.A.
- China Petrochemical Corporation (Sinopec Group)
- Petroliam Nasional Berhad (PETRONAS)
- FUCHS Petrolub Se
- Johnson Controls
- Jxtg Group
- BP P.L.C.
- Chevron Corporation
Highlights of The Refrigeration Compressor Oil Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Mineral Oil
- Synthetic Oil
- By Application:
- Refrigerator & Freezer
- Air Conditioner
- Automotive AC System
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Refrigeration Compressor Oil Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Refrigeration compressor oil is a type of engine oil that is used in refrigeration compressors. It helps to lubricate the compressor and keep it running smoothly.
Some of the major companies in the refrigeration compressor oil market are Jxtg Group, BASF SE, Idemitsu Kosan Co., Ltd., Exxonmobil Corporation, Royal Dutch Shell Plc, Total S.A., China Petrochemical Corporation (Sinopec Group), Petroliam Nasional Berhad (PETRONAS), FUCHS Petrolub Se, Johnson Controls, Jxtg Group, BP P.L.C., Chevron Corporation.
The refrigeration compressor oil market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Refrigeration Compressor Oil Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Refrigeration Compressor Oil Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Refrigeration Compressor Oil Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Refrigeration Compressor Oil Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Refrigeration Compressor Oil Market Size & Forecast, 2018-2028
4.5.1 Refrigeration Compressor Oil Market Size and Y-o-Y Growth
4.5.2 Refrigeration Compressor Oil Market Absolute $ Opportunity
Chapter 5 Global Refrigeration Compressor Oil Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Refrigeration Compressor Oil Market Size Forecast by Type
5.2.1 Mineral Oil
5.2.2 Synthetic Oil
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Refrigeration Compressor Oil Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Refrigeration Compressor Oil Market Size Forecast by Applications
6.2.1 Refrigerator & Freezer
6.2.2 Air Conditioner
6.2.3 Automotive AC System
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Refrigeration Compressor Oil Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Refrigeration Compressor Oil Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Refrigeration Compressor Oil Analysis and Forecast
9.1 Introduction
9.2 North America Refrigeration Compressor Oil Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Refrigeration Compressor Oil Market Size Forecast by Type
9.6.1 Mineral Oil
9.6.2 Synthetic Oil
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Refrigeration Compressor Oil Market Size Forecast by Applications
9.10.1 Refrigerator & Freezer
9.10.2 Air Conditioner
9.10.3 Automotive AC System
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Refrigeration Compressor Oil Analysis and Forecast
10.1 Introduction
10.2 Europe Refrigeration Compressor Oil Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Refrigeration Compressor Oil Market Size Forecast by Type
10.6.1 Mineral Oil
10.6.2 Synthetic Oil
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Refrigeration Compressor Oil Market Size Forecast by Applications
10.10.1 Refrigerator & Freezer
10.10.2 Air Conditioner
10.10.3 Automotive AC System
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Refrigeration Compressor Oil Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Refrigeration Compressor Oil Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Refrigeration Compressor Oil Market Size Forecast by Type
11.6.1 Mineral Oil
11.6.2 Synthetic Oil
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Refrigeration Compressor Oil Market Size Forecast by Applications
11.10.1 Refrigerator & Freezer
11.10.2 Air Conditioner
11.10.3 Automotive AC System
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Refrigeration Compressor Oil Analysis and Forecast
12.1 Introduction
12.2 Latin America Refrigeration Compressor Oil Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Refrigeration Compressor Oil Market Size Forecast by Type
12.6.1 Mineral Oil
12.6.2 Synthetic Oil
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Refrigeration Compressor Oil Market Size Forecast by Applications
12.10.1 Refrigerator & Freezer
12.10.2 Air Conditioner
12.10.3 Automotive AC System
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Refrigeration Compressor Oil Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Refrigeration Compressor Oil Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Refrigeration Compressor Oil Market Size Forecast by Type
13.6.1 Mineral Oil
13.6.2 Synthetic Oil
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Refrigeration Compressor Oil Market Size Forecast by Applications
13.10.1 Refrigerator & Freezer
13.10.2 Air Conditioner
13.10.3 Automotive AC System
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Refrigeration Compressor Oil Market: Competitive Dashboard
14.2 Global Refrigeration Compressor Oil Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Jxtg Group
14.3.2 BASF SE
14.3.3 Idemitsu Kosan Co., Ltd.
14.3.4 Exxonmobil Corporation
14.3.5 Royal Dutch Shell Plc
14.3.6 Total S.A.
14.3.7 China Petrochemical Corporation (Sinopec Group)
14.3.8 Petroliam Nasional Berhad (PETRONAS)
14.3.9 FUCHS Petrolub Se
14.3.10 Johnson Controls
14.3.11 Jxtg Group
14.3.12 BP P.L.C.
14.3.13 Chevron Corporation
