Automatic Lubrication Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Automatic Lubrication Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : January, 2020 | Semiconductor & Electronics | PPT format

Report Digest

Automatic Lubrication System Market Introduction

With the increasing trend of industrialization worldwide, the demand for automatic lubrication systems has reached new heights. Automatic lubrication systems are being adopted to ensure the long life of manufacturing equipment and optimum performance of the whole machinery. A variety of industrial end-users are adopting advanced technology of automatic lubrication systems to attain more reliability of mechanical components and a significant reduction in production downtime.

The global market for automatic lubrication systems was pegged at US$ 742 million in 2017, and increasing awareness about the advantages of implementing high-tech automatic lubrication systems is expected to trigger growth of the market in the upcoming years. The growth prospects of the market are mainly attributed to the industrial growth and continually evolving lubrication technologies.

In addition, the improved accuracy and efficiency of automatic lubrication systems with developments in technologies is expected to attract more customers in the coming future. Thereby, leading players in the automatic lubrication system market are adopting next-generation technologies to introduce advanced and innovative features, which will sync with end-users demands, to boost their profitable sales.

However, unawareness about the operational technicalities about automatic lubrication systems remains a major impediment for growth of the automatic lubrication system market. Dearth of skilled workers and lack of knowledge about the system’s maintenance cycles can lead to an automatic lubrication system’s failure, which is likely to restrict market growth in the upcoming years.

Automatic Lubrication System Market – Notable Developments

  • AB SKF – a leading bearing and seal manufacturing company based in Sweden – recently announced the launch of its new grease reservoir filling filter and a remote monitor for automatic lubrication systems. The company declared that the new filter can help to limit the amount of contaminants and impurities entering in the automatic lubrication systems. In addition, the new remote monitor for automatic lubricant systems are specifically designed to be compatible with grease and oil, and for the application with systems that cannot be monitored every day due to the position or nature of the automatic lubrication systems.
  • Apex Dynamics, a U.S.-based player in the automatic lubrication system market, recently introduced a fully automatic smart lubrication system that automate manual lubrication processes for moving parts. The company announced that its smart automatic lubrication system is environmentally friendly, cost-effective, and more productive, as it lowers the production downtime. Apex also declared that the new automatic lubrication system can be used in unique applications such as lift and movement platforms, running belts, paternoster systems, and automatic proofing systems for bakeries.

Some of the most prominent competitors operating in the competitive landscape of global automatic lubrication systems market include –

  • Graco
  • Cenlub Systems
  • SKF
  • Freudenberg Group (Klüber Lubrication)
  • Pricol
  • Timken

Automatic Lubrication System Market Dynamics

Preference for Automatic over Manual Lubrication Remains a Major Driver for Market Growth

The global manufacturing industry is undergoing technological transformations and machines are replacing human resources in a variety of operational sectors in the industry. The similar trend has been contributing to the increasing demand for automatic lubrication systems, as the manual lubrication processes carried flaws and lacked efficiency.

A majority of end-users are opting for automatic lubrication systems over their manual variants, especially where the position of nature of its application is unreachable for the human resources. In addition, automatic lubrication systems are provide more cost-efficient as compared to manual lubrication processes and consume less time, thereby offering improved productivity.

In addition, the ongoing developments in technologies is further expanding the scope for innovations in the design of automatic lubrication systems, which will further improve prospects of the automatic lubrication system market in the coming years.

Increasing Growth of the Steel Industry will broaden the Range of Applications

According to the World Steel Association, which is an international trade body for the iron and steel industry, the global steel production increased from 1.4 billion tons to nearly 1.7 billion tons between 2010 and 2017. Increasing growth of the global steel industry is mainly attributed to the favorable global economic momentum and increasing use of steel in a wide range of industrial sectors including automotive, packaging, and construction.

Growth of the automotive lubrication market mainly hinges on the developments in and expansion of the global steel industry as increasing use of high-quality steel has triggered the need for efficient and high-performance automatic lubrication systems. Growing adoption of manufacturing equipment made of high-quality steel is expected to boost sales of automatic lubrication systems to ensure the durability and operational efficiency of the equipment. This is expected to play an important role in growth of the automatic lubrication system market.

Automatic Lubrication System Market Segmentation

The automatic lubrication system market is segmented based on:

  • System Types
  • Lubrication Type
  • End-use Industry

Based on the types of systems, the automatic lubrication system market is segmented into:

  • Oil and Air Lubrication System
  • Circulating Oil Lubrication System
  • Series Progressive Lubrication System
  • Single-Line Lubrication System
  • Dual-Line Lubrication System
  • Multi-Line Lubrication System

Based on the types of lubrication, the automatic lubrication system market is segmented into:

  • Oil-based Lubrication
  • Grease-based Lubrication

Based on the end-use industries, the automatic lubrication system market is segmented into:

  • Steel
  • Manufacturing
  • Transportation
  • Mining
  • Power
  • Cement
  • Construction
  • Paper & Printing
  • Agriculture

The study presents reliable qualitative and quantitative insights into:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand chain of the market
  • Market valuation (revenue and/or volume)
  • Key trends/opportunities/challenges
  • Forces defining present and estimated future state of the competitive landscape
  • Technological developments
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.

Highlights of the report:

  • A detailed analysis of key segments of the market
  • Recent developments in the market’s competitive landscape
  • Detailed analysis of market segments up to second or third level of segmentation
  • Historical, current, and projected future valuation of the market in terms of revenue and/or volume
  • Key business strategies adopted by influential market vendors
  • Outline of the regulatory framework surrounding and governing numerous aspects of the market
  • Growth opportunities in emerging and established markets
  • Recommendations to market players to stay ahead of the competition

Note: Immense care has been taken to present data with the highest levels of accuracy in all TMRResearch reports. Nevertheless, recent developments related to market/vendor landscape may take time to reflect in the analysis.

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