The business intelligence report titled ‘North America Compressor Oil Market Forecast 2027 By Compressor Type, By Base Oil, By End-use, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, opines that North America compressor oil market is likely to amass strong returns and progress at a steady pace through 2027.

Penetration of technologies like machine learning and artificial intelligence, in congruence with increasing rate of production across several industrial verticals such as construction, chemicals, food & beverages, plastic, and pharmaceuticals are propelling North America compressor oil market growth.

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In addition, reduction of operational and manual labor expenses owing to the aforementioned technological advancements will amplify profits for the industry sphere during the analysis timeframe.

For the unversed, compressor oils play a crucial role in delaying the process of wear and tear in mechanical equipment, utilized extensively in a variety of manufacturing applications.

Moving on, the marketplace is bifurcated in terms of base oil, compressor type, end use, and regional terrain.

Speaking of base oil, the synthetic oil segment accounted for nearly 60% share in North America compressor oil industry in 2020 and is expected to expand considerably through the analysis timeframe. Synthetic oils extend the lifespan of the compressor by at least 50% as opposed to regular oils. Furthermore, these oils boast of a plethora of advantages which include reduction in deposit accumulation, high viscosity indices, impressive thermal & oxidative stability, exception wear resistance, and no sulfur content.

Considering compressor type, rotary screw compressor segment is anticipated to amass substantial returns during 2021-2027, attributable to wide scale product utilization across manufacturing, chemical, and industrial sectors owing to several advantages such as dependability, improved heat resistance, and cost effectiveness.

Speaking of end-use scope, industry share from food & beverage sector is reckoned to surge by 2% CAGR through 2027, owing increasingly product adoption for effective packaging and processing, thereby ensuring safety and taste of the food product.

Geographically, the United States compressor oil industry size is likely to grow substantially over the evaluation period, owing to booming manufacturing sector, and the penetration of innovative technologies in the industries.

The competitive terrain of this business sphere is influenced by key companies such as Ingersoll Rand Inc., The Atlas Capco Group, The Phillips 66 Company, Chevron Corporation, The Dow Chemical Company, The PJSC Lukoil Oil Company, BASF SE, British Petroleum plc, Exxon Mobil Corporation, FUCHS Group, Total SA, and Royal Dutch Shell plc.