US Refrigeration Oil Market Size study, by Type (Synthetic oil, Mineral oil) by Application (Refrigerators & Freezers, Air Conditioner, Automotive AC System, Aftermarket) Forecasts 2022-2032

Description

List of Tables

US Refrigeration Oil Market is valued approximately at USD 334.56 million in 2023 and is anticipated to grow with a healthy growth rate of more than 5.91% over the forecast period 2024-2032. Refrigeration oil is a specific type of lubricant required for compressors in refrigeration systems. These compressors circulate refrigerant in order to remove heat from an area and discharge it outdoors. Refrigeration oil prevents heat generation and component wear by lowering friction between moving components. It also serves as a seal, keeping refrigerant from leaking between zones of high and low pressure. It enhances heat transmission and prolongs the life of the compressor by removing worn debris. The growing emphasis on energy efficiency is a key trend that is supporting the growth of the US Refrigeration Oil Market at a substantial rate. Energy efficiency remains a significant focus in the US, with regulations and incentives promoting the adoption of energy-efficient refrigeration systems. This trend is driving the demand for high-performance refrigeration oils that contribute to reducing energy consumption and operating costs.

The increasing demand for refrigeration across various industries, including food & beverage, pharmaceuticals, and automotive, is a major driver for the market. Also, the increasing popularity of frozen and ready-to-eat food products is further attributing to the demand of the refrigeration oil. The convenience and extended shelf life of frozen and ready-to-eat meals have led to a surge in their consumption. In the US, frozen food sales reached USD 72.2 billion in 2022 according to the American Frozen Food Institute (AFFI), representing a +8.6% increase in value from 2021. Thus, in turn, has increased the demand for refrigerators and freezers, which ultimately drives up the demand for refrigeration oil. Moreover, rise in technological advancements in compressor technology and the shift towards eco-friendly refrigerants are also significant drivers. Additionally, the environmental regulations promoting energy efficiency, and the expanding automotive sector contributing to increased air conditioning system installations in vehicles are key factors fueling the demand for refrigeration oils in the US market. However, the market's growth is anticipated to be hampered during the 2024-2032 forecast period by strict laws limiting the use of fluorocarbon refrigerants as well as environmental considerations related to refrigeration system use.

Major market player included in this report are:

Exxon Mobil Corporation
Chevron Corporation
CITGO Petroleum Corporation
Company 4
Company 5
Company 6
Company 7
Company 8
Company 9
Company 10

The detailed segments and sub-segment of the market are explained below:

By Type

Synthetic oil
Mineral oil

By Application

Refrigerators & Freezers
Air Conditioner
Automotive AC System
Aftermarket

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and Country level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market

Chapter 1. US Refrigeration Oil Market Definition and Research Assumptions

1.1. Research Objective
1.2. Market Definition
1.3. Research Assumptions
- 1.3.1. Inclusion & Exclusion
- 1.3.2. Limitations
- 1.3.3. Supply Side Analysis
  - 1.3.3.1. Availability
  - 1.3.3.2. Infrastructure
  - 1.3.3.3. Regulatory Environment
  - 1.3.3.4. Market Competition
  - 1.3.3.5. Economic Viability (Consumer's Perspective)
- 1.3.4. Demand Side Analysis
  - 1.3.4.1. Regulatory frameworks
  - 1.3.4.2. Technological Advancements
  - 1.3.4.3. Environmental Considerations
  - 1.3.4.4. Consumer Awareness & Acceptance
1.4. Estimation Methodology
1.5. Years Considered for the Study
1.6. Currency Conversion Rates

Chapter 2. Executive Summary

2.1. US Refrigeration Oil Market Size & Forecast (2022- 2032)
2.2. Segmental Summary
- 2.2.1. By Type
- 2.2.2. By Application
2.3. Key Trends
2.4. Recession Impact
2.5. Analyst Recommendation & Conclusion

Chapter 3. US Refrigeration Oil Market Dynamics

3.1. Market Drivers
3.2. Market Challenges
3.3. Market Opportunities

Chapter 4. US Refrigeration Oil Market: Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economic
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. US Refrigeration Oil Market Size & Forecasts by Type 2022-2032

5.1. Synthetic oil
5.2. Mineral oil

Chapter 6. US Refrigeration Oil Market Size & Forecasts by Application 2022-2032

6.1. Refrigerators & Freezers
6.2. Air Conditioner
6.3. Automotive AC System
6.4. Aftermarket

Chapter 7. Competitive Intelligence

7.1. Key Company SWOT Analysis
7.2. Top Market Strategies
7.3. Company Profiles
- 7.3.1. Exxon Mobil Corporation
  - 7.3.1.1. Key Information
  - 7.3.1.2. Overview
  - 7.3.1.3. Financial (Subject to Data Availability)
  - 7.3.1.4. Product Summary
  - 7.3.1.5. Market Strategies
- 7.3.2. Chevron Corporation
- 7.3.3. CITGO Petroleum Corporation

Chapter 8. Research Process

8.1. Research Process
- 8.1.1. Data Mining
- 8.1.2. Analysis
- 8.1.3. Market Estimation
- 8.1.4. Validation
- 8.1.5. Publishing
8.2. Research Attributes

LIST OF TABLES

TABLE 1. US Refrigeration Oil Market, report scope
TABLE 2. US Refrigeration Oil Market estimates & forecasts by Type 2022-2032 (USD Million)
TABLE 3. US Refrigeration Oil Market estimates & forecasts by Application 2022-2032 (USD Million)
TABLE 4. US Refrigeration Oil Market by segment, estimates & forecasts, 2022-2032 (USD Million)
TABLE 5. US Refrigeration Oil Market by segment, estimates & forecasts, 2022-2032 (USD Million)
TABLE 6. US Refrigeration Oil Market by segment, estimates & forecasts, 2022-2032 (USD Million)
TABLE 7. US Refrigeration Oil Market by segment, estimates & forecasts, 2022-2032 (USD Million)
TABLE 8. US Refrigeration Oil Market by segment, estimates & forecasts, 2022-2032 (USD Million)
TABLE 9. U.S. Refrigeration Oil Market estimates & forecasts, 2022-2032 (USD Million)
TABLE 10. U.S. Refrigeration Oil Market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 11. U.S. Refrigeration Oil Market estimates & forecasts by segment 2022-2032 (USD Million)
TABLE 12. List of secondary sources, used in the study of US Refrigeration Oil Market.
TABLE 13. List of primary sources, used in the study of US Refrigeration Oil Market.
TABLE 14. Years considered for the study.
TABLE 15. Exchange rates considered

LIST OF FIGURES

FIG 1. US Refrigeration Oil Market, research methodology
FIG 2. US Refrigeration Oil Market, market estimation techniques
FIG 3. US market size estimates & forecast methods.
FIG 4. US Refrigeration Oil Market, key trends 2023
FIG 5. US Refrigeration Oil Market, growth prospects 2022-2032
FIG 6. US Refrigeration Oil Market, porters 5 force model
FIG 7. US Refrigeration Oil Market, pestel analysis
FIG 8. US Refrigeration Oil Market, value chain analysis
FIG 9. US Refrigeration Oil Market by segment, 2022 & 2032 (USD Million)
FIG 10. US Refrigeration Oil Market by segment, 2022 & 2032 (USD Million)
FIG 11. US Refrigeration Oil Market by segment, 2022 & 2032 (USD Million)
FIG 12. US Refrigeration Oil Market by segment, 2022 & 2032 (USD Million)
FIG 13. US Refrigeration Oil Market by segment, 2022 & 2032 (USD Million)
FIG 14. US Refrigeration Oil Market, company market share analysis (2023)