Compressor Oil Market Size was valued at USD 8.61 billion in 2023. The Compressor Oil industry is projected to grow from USD 9.04 billion in 2024 to USD 12.72 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.36% during the forecast period (2024 - 2032). The increasing availability of oil-free compressors and growing demand from the petrochemical sector are the key market drivers upgrading market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Market CAGR for compressor oil is driven by the rising number of environmentally friendly products. With rising concerns over the environmental impact of industrial activities, there is a growing demand for compressor oils that are biodegradable, non-toxic and do not harm the environment. In response, manufacturers are developing compressor oils that meet these criteria. For instance, some manufacturers are developing compressor oils that are made from vegetable oils, which are biodegradable and non-toxic.
Additionally, the growing popularity of synthetic compressor oils offers several advantages over conventional mineral oils, including better oxidation resistance, improved viscosity control, and longer service life. These advantages have made synthetic compressor oils popular for several end-use industries, such as automotive, aerospace, and manufacturing. In addition, synthetic compressor oils are also used in applications where high-performance lubrication is required, such as gas and refrigeration compressors.
The demand from the petrochemical sector for compressor oil is increasing daily. It is projected that the amount of petroleum used in manufacturing transportation fuel will decrease as more fuel-efficient vehicles are developed and electric vehicles, which run on electricity instead of gasoline or diesel, gain popularity. Over the past ten years, the petrochemical industry has experienced rapid growth, and there is still tremendous space for growth during the anticipated time. Major lubricant and engineering businesses have installed new machinery and even designed new procedures to take advantage of this opportunity. Compressors, widely employed in petrochemical complexes to compress utility air and product gases, are among the latest installations.
For instance, the compressor oil market is witnessing several trends shaping its growth trajectory. These include the increasing demand for environmentally friendly products and the rising adoption of synthetic compressor oils. Manufacturers are expected to continue to innovate and develop new products to meet the changing needs of end-use industries, driving the Compressor Oil market revenue.
The Compressor Oil market segmentation, based on type, includes reciprocating, sliding value, centrifugal, and screw. The reciprocating segment dominates the market. Compressor oil is used to lubricate all compressors' pistons, cylinders, and bearings. It includes home refrigerators, residential and commercial air conditioners, oil refineries, etc.
The Compressor Oil market segmentation, based on application, includes petrochemical manufacturing, construction hydraulics, mining equipment, and automotive engines. The petrochemical manufacturing category generates the most income due to its usage in the food and beverage industry to compress refrigerants, chemical industry, pharmaceutical, industrial air separation, etc.
Figure 1: Compressor Oil Market, by Application, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American market area will have significant growth, due to the presence of a well-established industrial sector and the increasing demand for compressor oil in various industries such as automotive, construction, and oil & gas are some of the factors driving the growth of the compressor oil market in the region. The increasing adoption of energy-efficient compressors in the region is expected to boost the demand for high-quality compressor oil in the coming years.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: COMPRESSOR OIL MARKET SHARE BY REGION 2022 (%) 
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Compressor Oil market accounts for the second-largest market share due to the increasing demand for compressor oil in various industries such as automotive, manufacturing, and construction. The increasing demand for energy-efficient compressors and the shift towards sustainable manufacturing practices are expected further to boost the demand for compressor oil in Europe. Further, the German Compressor Oil market held the largest market share, and the UK Compressor Oil market was the fastest-growing market in the European region.
The Asia-Pacific Compressor Oil Market is the highest growing market, dominating the market from 2023 to 2032. It is due to the increasing industrialization and rapid expansion of various end-use industries such as automotive, construction, and manufacturing that are driving the demand for compressor oil in the region. Moreover, China’s Compressor Oil market held the largest market share, and the Indian Compressor Oil market was the fastest-growing market in the Asia-Pacific region.
For instance, the compressor oil market is expected to witness significant growth in the coming years, driven by the increasing demand for compressor oil in various industries such as automotive, manufacturing, and oil & gas. The increasing adoption of energy-efficient compressors and the shift towards sustainable manufacturing practices are expected to further boost the demand for compressor oil in the coming years.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Compressor Oil market, grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The Compressor Oil industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Compressor Oil industry to benefit clients and increase the market sector. In recent years, the Compressor Oil industry has offered some of the most significant advantages to medicine. Major players in the Compressor Oil market, including ExxonMobil Corporation (US), Sinopec Limited (China), Royal Dutch Shell PLC (Netherlands), BP PLC (UK), Total S.A (France), Chevron Corporation (US), Croda International PLC (UK), Fuchs Petrolub AG (Germany), BASF SE (Germany), Sasol Limited (South Africa), Lukoil (Russia), Indian Oil Corporation Ltd (India), Hp Lubricants, and others, are attempting to increase market demand by investing in research and development operations.
Fuchs Petrolub SE, located in Mannheim, Baden-Wuttermberg, Germany, founded in 1931, is an international manufacturer of lubricants such as engine motor oils and transmission, for motor cars, motorcycles, agricultural, plant and stationary engines, and hydraulic products. In August 2016, Fuchs Group acquired Ultrachem Inc., a US-based lubricants manufacturer. Ultrachem Inc. has been a well-known producer of synthetic compressor lubricants for more than 40 years.
Shell PLC, formed in 1907, and located in London, England, is a British international oil and gas company. It is a merger of the Royal Dutch Petroleum Company of the Netherlands and The Shell Transport and Trading Company of the UK. Shell is vertically integrated and active in every oil and gas industry area, including exploration, production, refining, transport, distribution and marketing, petrochemicals, power generation, and trading. Shell operates in over 99 countries, produces millions of barrels of oil equivalent per day, and has thousands of service stations worldwide. In September 2022, Shell became the largest company in the world listed on the LSE.
In October 2019, FUCHS acquired Nye Lubricants Inc., a producer of extremely specialized synthetic lubricants. After this acquisition, the FUCHS Group's specialty in lubricants product range has been spread even more and more. The firm has increased itself in providing engineered solutions across several industries and has the potential to serve new high-end and critical applications.
June 2019: Total launched Planetelf PAG K 40, a high-performance lubricant for automotive air conditioning compressors. Planetelf PAG K 40 is designed to fulfill the requirement of R134a and HFO-1234yf refrigerant gases used in the automobile air conditioning industry. Planetelf PAG K 40 offers high miscibility, superior protection, and lowers compressor wear regardless of the gas used.
Compressor Oil Type Outlook
Reciprocating
Sliding Vane
Centrifugal
Screw
Compressor Oil Application Outlook
Petrochemical manufacturing
Construction Hydraulics and Mining Equipment
Automotive Engines
Compressor Oil Regional Outlook
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 8.61 billion |
| Market Size 2024 | USD 9.04 billion |
| Market Size 2032 | USD 12.72 billion |
| Compound Annual Growth Rate (CAGR) | 4.36% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Exxon Mobil Corporation (US), Sinopec Limited (China), Royal Dutch Shell PLC (Netherlands), BP PLC (UK), Total S.A (France), Chevron Corporation (US), Croda International PLC (UK), Fuchs Petrolub AG (Germany), BASF SE (Germany), Sasol Limited (South Africa), Lukoil (Russia) and Indian Oil Corporation Ltd (India) |
| Key Market Opportunities | Growing demand for consumer appliances and increasing industrial infrastructure. |
| Key Market Dynamics | Rising adoption of synthetic compressor oils. |
Compressor Oil Market Highlights:
Frequently Asked Questions (FAQ) :
The Compressor Oil market size was valued at USD 8.61 Billion in 2023
The market is projected to grow at a CAGR of 4.36 % during the forecast period, 2024-2032
Asia-Pacific had the largest share of the market
Asia-Pacific held the largest share in 2022
The key players in the market are ExxonMobil Corporation (US), Sinopec Limited (China), Royal Dutch Shell PLC (Netherlands), BP PLC (UK), Total S.A (France), Chevron Corporation (US), Croda International PLC (UK), Fuchs Petrolub AG (Germany), BASF SE (Germany), Sasol Limited (South Africa), Lukoil (Russia) and Indian Oil Corporation Ltd (India)
The reciprocating Compressor Oil category dominated the market in 2023
Petrochemical manufacturing had the largest share of the market
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Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
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