Lubrication Systems Market to Grow at CAGR of 3.42% Over 2018-2026: TMR Study

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Nov 09, 2022, 06:56 ET

Rising need for uninterrupted lubrication from cement industry to facilitate smooth operations propels demand in global Lubrication Systems Market
Increasing ownership of passenger vehicles, owing to increasing disposable income among global population, fosters growth

WILMINGTON, Del., Nov. 9, 2022 /PRNewswire/ -- Based on a recent research report, the global Lubrication Systems Market is anticipated to grow at a CAGR of 3.42% over the forecast period of 2018 to 2026. Solutions in the Lubrication Systems Market aid in the smooth functioning of various mechanical and automotive components, including chains, dyes, cables, bearings, and pumps. Lubrication systems are of two types, namely, automatic lubrication systems, and manual lubrication systems.

One of the key end users for the products in the global Lubrication Systems Market is the metal and mineral processing sector. In this industry, various types of equipment are used at extreme temperatures, at high speed, in polluted surroundings. Growth in the global population, increase in urbanization, and growth of various economies has resulted in rising demand for metal and minerals. This trend also boosts the demand in the global Lubrication Systems Market for safe and effective operations in the metal and minerals processing industry.

Rising demand for efficient automatic lubrication systems from big production facilities, such as cement production plants, is supplementing the growth of global Lubrication Systems Market. While manual lubrication systems can prove to be effective in smaller manufacturing plants that feature low number of lubrication points and low lubrication frequency, massive facilities, such as cement production plants, feature a high number of lubrication points. This creates an increased demand for automatic systems in the market.

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Lubrication Systems Market – Key Findings of the Report

Rising Demand for Automatic Lubrication Systems: Automatic lubrication systems offer various advantages over manual lubrication systems, such as low cost and ability to offer correct amount of lubrication at precise time intervals. They also avoid the risk of errors caused by manual operation and require less time for operations, resulting in lower downtime. These benefits have propelled the demand for automatic systems in the market.
Increasing Demand from Steel Industry: Steel is an important asset in the modern world, used in a wide range of industries. Steel industry captured more than 20% of the total share of global Lubrication Systems Market in 2017. Proper lubrication is of utmost importance in the steel industry in every step of the steel production process. This has resulted in increased demand for effective lubrication systems for downstream and upstream procedures in the steel industry.

Lubrication Systems Market – Growth Drivers

Rising demand from steel, as well as metal and minerals processing industries positively impact the growth within the global Lubrication Systems Market
Increasing usage of automatic lubrication systems in cement production plants creates growth opportunities in the market
Consistent instances of wear and tear in industrial machinery supports the expansion of the global Lubrication Systems Market

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Lubrication Systems Market – Key Players

Leading companies operating in the global Lubrication Systems Market are

Pricol Limited,
Dropco Multilub Systems Pvt. Ltd.,
Rikkon Lubes Private Limited,
Shaan Lube Equipment Pvt. Ltd. and Systematrix Engineering Service, among others.

The global Lubrication Systems Market is extremely competitive, owing to the presence of several well-trenched companies. Players are increasing the number of investments every year to enhance the performance of their production facilities by improving production plat designs.

Lubrication Systems Market – Regional Growth Dynamics

Asia Pacific is anticipated to emerge as the leading region within the global Lubrication Systems Market over the forecast period. Growth within this regional market is expected to be driven by the rising infrastructural development and growth in the demand for passenger vehicles. Some other notable drivers for the Asia Pacific market include the presence of a large number of lubrication system manufacturers and increasing disposable income of the population in the region.

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Lubrication Systems Market: Segmentation:

Lubrication Systems Market, by Type

Manual Lubrication Systems
Automatic Lubrication Systems

Single-line Lubrication Systems
Dual-line Lubrication Systems
Multi-line Lubrication Systems
Series Progressive
Circulating Oil
Oil & Air

Lubrication Systems Market, by Application

Cement Plants
Steel Industry
Mining & Mineral Processing
Paper & Printing
Automotive
Industrial Machine & Machine Tools
Construction Machines

Lubrication Systems Market, by Process

Dry Sump Lubrication
Wet Sump Lubrication

Lubrication Systems Market, by Region

North America

U.S.
Canada

Europe

Germany
U.K.
France
Italy
Russia & CIS
Rest of Europe

Asia Pacific

China
India
Japan
ASEAN
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa (MEA)

GCC
South Africa
Rest of Middle East & Africa

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