#Refrigeration #Oil #Market #Size #Worth #Billion
Portland, OR, Oct. 16, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global refrigeration oil market was estimated at $1.4 billion in 2021 and is expected to hit $2.2 billion by 2031, registering a CAGR of 4.7% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $1.4 Billion |
| Market Size in 2031 | $2.2 Billion |
| CAGR | 4.7% |
| No. of Pages in Report | 274 |
| Segments Covered | Oil Type, Application, and Region. |
| Drivers | The fact that refrigeration oils offer high thermal and oxidation stability that in turn improves shelf life of other industrial oil used in compressors |
| Opportunities | Growing environmental regulations |
| Restraints | Several environmental risks associated with use of refrigeration oils |
Covid-19 Scenario-
- The closure of multiple sectors such as automotive, aerospace, marine, and others impacted the global refrigeration oil market negatively.
- However, lift of restrictions coupled with rise in demand for personal vehicles led the automotive industry to witness a significant growth wherein refrigeration oil is used as a prime lubricant in cooling and compressors.
The global refrigeration oil market is analyzed across oil type, application, and region. The report takes in an exhaustive analysis of segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise…
Read on GNW: Refrigeration Oil Market Size Worth $2.2 Billion by 2031 |
