LONDON–(BUSINESS WIRE)–Technavio has published a new report on the global compressor oil market, which is expected to grow at a CAGR of more than 5% from 2015-2019.
About the Report
In accordance with the latest report by Technavio, the compressor oil market is expected to make a significant growth during the forecast period, which is driven by the increased demand for compressor lubricants or oils. The demand for compressors is increasing because of rapid industrial growth and rising investments in the manufacturing sectors worldwide.
“With the extensive use of compressors in industries like manufacturing, oil and gas, power, chemical, pharmaceutical, and food and beverage, the demand for compressors will increase significantly,” says Faisal Ghaus, Vice President of Technavio.
The latest report by Technavio also emphasizes the rise of the APAC region as the major market for compressor oils, which is expected to influence the vendors in EMEA and the Americas.
“Many vendors from the Americas and the EMEA are striving to set up their production facilities in the APAC region to reduce their operational costs and remain competitive,” add Ghaus.
Market Scope and Calculation of Market Size
The new Technavio report covers the present scenario and growth prospects of the global compressor oil market from 2015-2019. We have calculated the market size on the basis of consumption of compressor oil in the market.
Key Information Covered in the Report:
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