Market Size of China Refrigeration Lubricants Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 699.23 Million |
| Market Size (2029) | USD 862.65 Million |
| CAGR (2024 - 2029) | > 4.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Refrigeration Lubricants Market Analysis
The China Refrigeration Lubricants Market size is estimated at USD 699.23 million in 2024, and is expected to reach USD 862.65 million by 2029, growing at a CAGR of greater than 4% during the forecast period (2024-2029).
Due to COVID-19 and nationwide lockdowns, there was disruption in manufacturing processes and supply chains, and production halts were observed, which negatively impacted the refrigeration lubricants market. However, as the conditions start to recover in 2021, the growth of the market studied is expected to be restored in the upcoming phase.
- Major factors driving the refrigeration lubricants market are the increasing momentum in the Chinese HVACR industry and the emergence of new-generation lubricants that are used for energy efficiency.
- The phasing out of existing refrigerants due to constant regulation amendments is anticipated to hinder the growth of the market studied.
- The rise in the demand for cryogenic applications, increasing momentum in the Chinese HVACR industry, and the augmenting prominence of lubricant technology are thus expected to offer lucrative opportunities during the forecast period.
- The air conditioning segment is expected to grow at a considerable pace during the upcoming period.
