DUBLIN--(BUSINESS WIRE)--The "Automatic Lubrication System Market by Lubrication Type (Grease, Oil), System Type (Single-Line, Dual-Line, Multi-Line, Series Progressive, Circulating Oil, Oil & Air), Industry (Steel, Manufacturing, Cement), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The automatic lubrication system market is expected to grow from USD 769.4 million in 2018 to USD 958.5 million by 2023, at a CAGR of 4.5% between 2018 and 2023.
Key factors driving the growth of the automatic lubrication system market include reduction in machine downtime associated with manual lubrication, effective lubrication with automatic lubrication systems, increasing focus on worker safety, and rising labor costs. However, constraints associated with proper lubricant selection and the lack of awareness among end-user industries in developing countries are the key factors restraining the market growth.
The market for oil-based lubrication system is expected to grow at a higher CAGR between 2018 and 2023. Oil-based lubrication systems mainly find application in enclosed gear assemblies. Physical properties such as better heat management and efficient performance in cold working conditions drive the growth of oil-based automatic lubrication systems.
The automatic lubrication system market in APAC is expected to grow at the highest CAGR between 2018 and 2023. The presence of industrialized economies such as India, China, and Indonesia; increasing awareness about automatic lubrication systems; and rising labor rates are a few key factors driving the demand for automatic lubrication systems in APAC. Huge domestic demand for products and services, and significant business growth opportunities have led to the establishment of the manufacturing units of various industries, such as cement, steel, and energy, in the region. This offers an attractive opportunity for the automatic lubrication system market growth in APAC.
- Baier + Koeppel
- Bijur Delimon
- Klueber Lubrication
- Cenlub Systems
- ATS Electro-Lube
- I.L.C. S.R.L.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Market Analysis, By Lubrication Type
7 Automatic Lubrication System Components
8 Market Analysis, By System Type
9 Market Analysis, By Industry
10 Geographic Analysis
11 Competitive Landscape
12 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/gtfhm7/global_automatic?w=4