LONDON--(BUSINESS WIRE)--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.
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 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.
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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