Refrigeration Oil Market Analysis

The global refrigeration oil market is segmented by refrigerant type into CFC, HFC, and others, out of which, the HFC segment is anticipated to hold the largest share in the market during the forecast period owing to its increasing use in new refrigerators and air conditioners, as it is a green alternative for CFC, and other gases used previously. Manufacturers of refrigerators and other applications, are opting for HFC for the upcoming generation of these electronics, owing its lower ozone depletion potential (ODP). On the basis of application, the market is segmented into refrigerators, deep freezers, air conditioners, automotive AC, and others, among which, the air conditioners segment is anticipated to lead the market in terms of revenue, over the forecast period, on the back of growing demand for air conditioners backed by changing lifestyle and increasing disposable income of the middle class. More than 90 million AC units were sold in 2018, globally.

Our in-depth analysis of the global market includes the following segments: