Global Lubrication Systems Market to Log 2.14% CAGR from 2014 to 2022, Growth of Mining and Mineral Processing Sector Drives Market
A recent market study published by Transparency Market Research presents a comprehensive analysis of growth trends, market estimates, and technological developments in the global lubrication systems market in the 2014-2022 period. According to the report’s findings, this market will display a slow yet positive CAGR of 2.14% from 2014 to 2022. The market’s valuation will increase from US$4.4 bn in 2013 to US$5.3 bn by 2022. The title of this report is “Lubrication Systems Market - Global Industry Analysis, Size, Share, Growth Trends and Forecast 2014 - 2022.”
Browse the full Lubrication Systems Market By End-user (Cement Industry, Steel Industry, Mining & Mineral Processing Industry, Automobile Industry and Other Industries) - Global Industry Analysis, Size, Share, Growth Trends and Forecast 2014 - 2022 report at https://www.transparencymarketresearch.com/lubrication-systems-market.html
The report provides a detailed analysis of the major factors driving and restraining the global market for lubrication systems. Major forces impacting profitability and the overall industry structure are also looked into using validated analytical tools such as Porter’s five forces and SWOT analyses. Furthermore, the report also presents market attractiveness and value chain analysis of this market for the aforementioned forecast period.
An automatic lubrication system is a system that transfers controlled amounts of lubricant to a few locations on a machine while it is in operation. These systems are fully automated, but even the systems that require button activation or manual pumps are considered as automated or centralized lubrication systems.
The report says that the recovery of the cement and automobiles industries after a downturn in the last economic recession of 2009 will drive the global lubrication systems market. In addition, the numerous advantages that automated lubrication systems offer over manual processes will propel the adoption of the same. However, the slow growth of major end-use industries will restrict the market’s progression to some extent.
Type, end user, process, and geography are the four criteria based on which the global lubrication systems market is segmented in this report. By type, automated systems and manual lubrication systems are the segments of this market. Of the two, in 2013, automated lubrication systems led the market due to the better quality of lubrication attained with these systems and their higher reliability. Manual lubrication systems are utilized in agricultural equipment and local service stations for automobiles. Due to the increasing adoption of automated systems, the demand for manual lubrication systems is anticipated to decline during the forecast period.
On the basis of process, wet sump lubrication systems and dry sump lubrication systems are the segments of this market. Wet sump lubrication systems are widely used in the automobile industry; more than 92% of vehicles worldwide utilize wet sump lubrication systems. Dry dump lubrication systems are utilized in heavy-duty industries such as steel, cement, and hydrocarbons.
Major end users of lubrication systems are the paper, mining and mineral processing, automobile, cement, and steel industries. Some other end users of lubrication systems are the marine industry and the railways, which utilize a combination of lubrication systems on a large scale. The mining and mineral processing segment is expected to display the fastest growth rate in the 2014-2022 period, adds the report.
Some key companies that operate in the global lubrication systems market are Changhua Chen Ying Oil Machine Co. Ltd., Lube Corporation, and Sloan Lubrication Systems, among others.
The lubrication systems market has been segmented as follows:
Global Lubrication Systems Market: Type Analysis
- Manual Lubrication Systems
- Automated/Centralized Lubrication Systems
Global Lubrication Systems Market: Process Analysis
- Dry Sump Lubrication
- Wet Sump Lubrication
Global Lubrication Systems Market: End-user Analysis
- Cement Industry
- Steel Industry
- Mining & Mineral Processing Industry
- Automobile Industry
- Other Industries
Global Lubrication Systems Market: Regional Analysis
- Rest of Europe
- Rest of Asia Pacific
- Rest of the World (RoW)
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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