Global Automatic Lubrication Systems Market to Surpass USD 2 Billion in Revenue by 2020, According to Technavio

LONDON--()--According to the latest market study released by Technavio, the global automatic lubrication systems market is predicted to exceed USD 2 billion by 2020, growing at a CAGR of more than 3% during the forecast period.

This research report titled ‘Global Automatic Lubrication Systems Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

“Automatic lubrication systems are also known as centralized lubrication systems that deliver exact quantity of lubricants either oil or grease to moving parts, such as bearings, to minimize wear and tear and friction. These systems are vital in maintaining functioning capacity, productivity, efficiency, and compliance with environmental standards of industrial machinery, heavy equipment, and vehicles. They are used on stationary as well as mobile industrial equipment and production lines,” says Bharath Kanniappan, one of the lead analysts at Technavio for automation research.

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Based on end-users, the global automatic lubrication systems market is classified into the following:

  • Industrial machinery
  • Heavy equipment
  • Transportation industries

Global automatic lubrication systems market in the industrial machinery industry

The global automatic lubrication systems market in the industrial machinery industry is expected to generate USD 1.1 billion by 2020, growing at a CAGR of 2.18%. This segment is subdivided into cement, steel and metal, paper, oil and gas, pharmaceutical, and food and beverage industries.

Cement industry

Automatic lubrication systems in cement plants are used for several devices and applications such as blowers and fans, air installations, conveyor systems, mills, pumps, extruders, silos, rotatory kilns, raw material production, mixing bed, and belt tensioner. Countries such as India and Indonesia are on the verge of a major industrial boom due to the support of new government legislatures and improving economy. The demand from housing sector, business developments, and for new roads is high, which increased the cement consumption by over 8% in 2015 and is likely to grow further during the forecast period.

Global automatic lubrication systems market in the heavy equipment industry

The heavy equipment industry is sub-segmented into mining, construction, and agricultural and farming equipment.

Mining equipment

Mining equipment is usually large, and requires regular maintenance with lubrication, preferably automation lubrication systems, to prevent breakdowns and withstand harsh conditions. Improper lubrication of equipment, such as crushers, drillers, loaders, and bearings, will lead to frequent repair, premature breakdowns, and heavy losses. The surface mining equipment dominates the market, accounting for more than 35% of the entire mining equipment market.

“China dominates the mining equipment market as it is one of the major sources of minerals, including bauxite and iron ore. The Chinese market is further fueled by a high domestic demand from the metal and mining industries, which is likely to exceed 5% growth during the forecast period,” says Bharath.

Global automatic lubrication systems market in the transportation industry

The transportation segment is sub-segmented into automotive, railways, aerospace, and shipping industries.

Automotive industry

A single automotive assembly plant comprises several thousands of lubrication points such as conveyor belts, engines, gears, bearings, and chains, which require frequent and specific lubrication for smooth and efficient functioning. To reduce wear and tear and to sustain performance and reliability of plant machinery, proper lubrication is necessary at regular intervals. Therefore, automatic lubrication systems are widely used across automotive assembly plants that can consistently lubricate specific lubrication points in right quantity and at pre-determined intervals.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global automatic lubrication systems market is predicted to exceed USD 2 billion by 2020, growing at a CAGR of more than 3%.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com