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Refrigeration Oil Market by Oil, Application And Region - Global Forecast to 2022

Refrigeration Oil Market: Global Forecast until 2022

  • April 2018
  • 132 pages
  • ID: 5371678
In this report:
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APAC dominated the refrigeration oil market in 2016, accounting for a share of ##.##%, in terms of volume, and this trend is expected to continue during the forecast period.

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Growing demand for freezers and refrigerators estimated to drive the refrigeration oil market.

The refrigeration oil market is projected to be $1005.20M in 2017 and is projected to extend $1243.60M by 2022, at a compound annual growth rate of 4.30 percent between 2017 and 2022. The refrigeration oil market is largely driven by the increasing demand for consumer appliances and automobiles. Refrigeration oil is used for lubrication in compressors and reduces friction of metal parts thereby reducing the wear and tear of compressors in consumer appliances and automotive AC systems.

The rising demand for refrigeration oil from the food and pharmaceutical industries along with the increasing demand for low GWP refrigerants are other factors presumed to drive the refrigeration oil market. Nevertheless, the stringent regulations to limit the use of fluorocarbon refrigerants is one of the main restraints for the increase ot the market.

The POE oil type segment is anticipated to be the quickest-rising segment of the refrigeration oil market, in terms of value importance, between 2017 and 2022.

The POE oil type segment is anticipated to witness the highest increase, in terms of value concern, between 2017 and 2022. POE oil has high thermal stability and excellent wear performance; its usage in all applications is one of the main factors projected to drive the rise of this oil type in the next years.

The refrigerator & freezer application segment is anticipated to be the quickest-increasing segment of the refrigeration oil market, in terms of value significance, from 2017 and 2022.

The refrigerator & freezer segment is forecasted to be the quickest-rising application segment between 2017 and 2022, in terms of both, value and quantity.The increase of the segment can be accredited to the growing demand and manufacture of refrigerators and freezers in Asia-Pacific.

The region accounts for more than two-thirds of the overall demand for refrigerators and freezers. This is mainly due to the growing urbanization and quick industrialization in the territory.

Asia-Pac is anticipated to be the quickest developing market during the outlook period, in terms of value importance and quantity.

The increasing demand for consumer appliances and automobiles is anticipated to fuel the rise of the refrigeration oil market in the Asia Pacific area. Additionally, the growing population and growing disposable income in countries including China (CN) and India (IN) are further fueling the increase of the consumer appliances and automotive sectors in Asia-Pacific, thereby driving the refrigeration oil market.

In the process of finding out and checking the market value for various segments and sub-segments collected by secondary research, primary Q&A were conducted as follows:

• By Company category: Tier 1 (75.0 percent), Tier 2 (20.0 percent), and Tier 3 (5.0 percent)

• By Description: C-suite (28.0 percent), D-level (52.0 percent), and Others (20.0 percent)

• By Area: Europe (EU) (50.0 percent), Asia-Pac (25.0 percent), Middle East (ME) & African continent (12.0 percent) North America continent (7.0 percent), and South America region (6.0 percent).

Top players decribed in the analysis contain JXTG Group, BASF, Idemitsu Kosan Co., Royal Dutch Shell, ExxonMobil, BP, PETRONAS, Chevron, Total, Sinopec Group, FUCHS, Johnson Controls, Lubrizol, Behr Hella Service GmbH, BVA, Incorporated, Calumet Specialty Products Partners, L.P., CAMCO Lubricants, CITGO Petroleum Corporation, Cosmo Oil Lubricants Co., Limited, Eni, Indian Oil Corporation, Isel, National Refrigerants, Incorporated, Summit Oil Company, Lubriplate Lubricants Company, Lukoil, Petro-Canada Lubricants, Incorporated, Phillips 66 Lubricants, and Sun Company, Incorporated.

Segment Research

This study breaks down the market for refrigeration oil on the basis of oil type, application, and area, and offers estimations for the global value of the market across several areas. An in-depth study of top industry actors has been conducted to provide industry insights into their business overviews, products & services, top strategies, latest product launches, strategic agreements, alliances, and latest developments combined with the sector for refrigeration oil.

Reasons to Buy This Report

This market research is mostly focused on several levels of analyses - industry, market ranking review of top actors, and company descriptions, which together comprise and examine the global view on the competitive landscape; coming out and high-growth segments of the refrigeration oil market; high-growth areas; and sector drivers, market restraints, alternatives, and opportunities.

This study furnishes highlights on the following points:

• Market Uptake: Exhaustive data on refrigeration oil provided by key players in the overall refrigeration oil market.

• Product Development/Innovative products: In-depth understanding on up-on-coming technologies, analysis & growth activities, and recent product launches in the refrigeration oil market.

• Market Development: Highlighted information about lucrative emerging markets-the report examines the industries for refrigeration oil across localities.

• industry diversification: Complete information about recent products, untapped areas, and recent evolutions in the overall refrigeration oil market.

• opposing assessment: Detailed assessment of market shares, strategies, products, and manufacturing competences of key players in the refrigeration oil market.

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