North America Compressor Oil Market size exceeded USD 1 billion in 2020 and is anticipated to exhibit 1.8% CAGR from 2021 to 2027. A positive outlook of the manufacturing sector will augment the industry growth. Moreover, extensive usage of portable and medium & large-sized compressors for construction applications will boost the market demand.

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In power generation plants, compressors are used for a wide range of applications including cooling turbines & reactor cores, fuel gas boosting, desulphurization, nitrous oxide treatment, etc. The rising electrification of buildings and vehicles will positively influence the power sector in North America. Rapidly falling prices along with continuously improving capabilities of energy storage will rapidly augment battery storage installations over the next few years.

North America Market, By End-use

General manufacturing sector will generate a demand of over 40 Kilo Tons in the North America compressor oil market by 2027. Most manufacturing companies require compressed air in their production and plant processes. Compressed air is used for cutting & welding equipment, operating various tools on production lines, ejecting pieces & molds, monitoring equipment, adjusting roller & feed machinery, sandblasting, metal finishing, and operating automatic machinery. Moreover, it is used for driving nuts, positioners, screws, air chucks, clamps, and air knives.

North America Market, By Base Oil

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The synthetic compressor oil segment dominated more than 60% market share in 2020. Synthetic compressor oil is the most preferred over other types of compressor oils due to its numerous advantages. It offers various benefits including superior oxidative & thermal stability, high viscosity indices, and excellent wear protection. In addition, it minimizes deposit build-up, valve maintenance, energy consumption, and compressor downtime.

Competitive Industry Landscape

Key players operating in the North America compressor oil market include Royal Dutch Shell PLC, Total S.A., FUCHS Group, Exxon Mobil Corporation, British Petroleum, BASF SE, Lukoil, The Dow Chemical Company, Chevron Corporation, The Phillips 66 Company, Atlas Copco, and Ingersoll Rand Inc. These companies are adopting various strategies such as product differentiation & development, expansion of sales & distribution networks, and mergers & acquisitions to gain a competitive advantage.