According to the research 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, North America compressor oil market is expected to generate USD 1.1 billion by the year 2027.
 

Mounting production of pharmaceuticals, food & beverage, automobiles, and chemicals coupled with widespread product adoption in various industrial applications are some of the key factors driving the growth of North America compressor oil market.

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Rapid expansion of the manufacturing sector and high integration of advanced technologies such as AI and ML are contributing towards the overall market remuneration. These technological breakthroughs have also helped in reducing operating and labor costs in the industrial sector.

By base oil, the report cites that the synthetic segment captured 60% market share in 2020 and is predicted to expand significantly in the ensuing years. Synthetic compressor oils manage to stay cooler than conventional oils as well as comprise of no additives or sulfur, further aiding in reducing valve buildup, thereby fueling the segmental share.

Moving on to compressor type, the rotary screw segment is anticipated to showcase considerable growth during the study period. Compressor oils are extensively used in radials, screws, and thrust roller bearings owing to their minimal initial cost, improved heat resistance, durability, reliability, and low maintenance.

Citing the end-user reach, North America compressor oil industry share from the food & beverage sector is expected to witness 2% CAGR through 2027. Mounting consumption of packaged foods owing to rising adoption of hectic lifestyle, easy product availability, and evolving demographic trends are facilitating the overall business scenario in North America.

The competitive landscape of North America compressor oil market is defined by the companies such as Ingersoll Rand Inc., Atlas Copco, The Phillips 66 Company, Chevron Corporation, The Dow Chemical Company, The PJSC Lukoil Oil Company, BASF SE, BP plc, Exxon Mobil Corporation, FUCHS Group, TotalEnergies SE, and Shell plc.