PUBLISHER: Value Market Research | PRODUCT CODE: 1264073
PUBLISHER: Value Market Research | PRODUCT CODE: 1264073
The global demand for Refrigeration Oil Market is presumed to reach the market size of nearly USD 9.29 BN by 2030 from USD 5.32 BN in 2022 with a CAGR of 7.22% under the study period of 2023 - 2030. Regarding volume, the market was calculated XX Kilo Tons in 2022 and forecast to touch XX Kilo Tons by 2030 with a CAGR of XX% during 2023-2030.
Refrigeration oil is made from mineral or synthetic oil and is created by combining oil and additives suited for use in cooling systems. The purpose of refrigeration oil is to lubricate moving parts in a refrigerant compressor effectively-the refrigerated oil aids in reducing friction between metal parts, reducing compressor wear and extending compressor life. The refrigeration oil is resistant to high temperatures, making it the best lubricant in the metal industry.
The expanding healthcare industry, along with rising spending on drug discovery, will raise the demand for refrigeration systems to store medications and vaccines, driving market expansion. Changing food habits coupled with spending capacity have resulted in many licenced and franchised stores of limited-service restaurants such as McDonald's and Subway, KFC and local services and is driving demand for frozen and chilled food products; hence, demand for refrigeration is also increasing. This particular factor is also propelling the market forward. With an increase in urbanization and population, demand for air conditioner systems and refrigerators in developing countries will also fuel market expansion. Reduced environmental pollution has led to a trend toward green products, which will result in the manufacture of ACs utilizing greener alternatives like natural refrigerants like CO2, hydrocarbons, and ammonia, supporting market growth.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of refrigeration oil. The growth and trends of Refrigeration Oil Industry provide a holistic approach to this study.
This section of the refrigeration oil market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Refrigeration Oil market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the refrigeration oil market include Eneos Holdings Inc. (Japan), BASF SE (Germany), Idemitsu Kosan Co. Ltd (Japan), ExxonMobil Corporation (U.S.), Royal Dutch Shell Plc. (Netherlands), Total Energies SE(France), China Petrochemical Corporation (Sinopec Corp), Petroliam Nasional Berhad(Petronas), FUCHS Petrolub SE (Germany), Johnson Controls(Ireland). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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