Research and Markets has announced the addition of the 'Global Compressor Oil Market 2015-2019' report to their offering. The global compressor oil market to grow at a CAGR of 5.32%, in terms of revenue, over the period 2014 - 2019.
The global compressor oil market 2015 - 2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report includes a discussion of the key vendors operating in this market.
The demand for compressors is increasing because of rapid industrial growth and rising investments in the manufacturing sectors worldwide. The growing global demand for compressors is boosting growth prospects of the market. Compressors are widely used in the manufacturing, oil and gas, power, chemical, pharmaceutical, and food and beverage industries.
According to the report, the rise of APAC as the major market for compressor oils will likely affect the vendors in EMEA and the Americas. The presence of many manufacturing facilities has increased the demand for compressors in APAC. Continuous availability of raw materials, huge labour pool, favourable demographics, high demand, and low costs associated with manufacturing have made the major discrete and process industries to set up their manufacturing facilities in China, Japan, India, and South Korea.
Vendors from the Americas and EMEA are striving to set up their production facilities in APAC to reduce their operational costs and remain competitive.
Further, the report states that the growing popularity of oil free compressors is threatening the growth of the global compressor oil market.The report includes the present scenario and the growth prospects of the global compressor oil market for the period 2015 - 2019. The market can be segmented based on compressor type, base oil type, end-user, and geography.
Adapted from press release by Francesca Brindle
Read the article online at: https://www.hydrocarbonengineering.com/refining/31122015/research-and-markets-global-compressor-oil-market-2015-2019-2003/