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

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  • 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
  • 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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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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