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(AsiaNewsWire.Net, January 24, 2020 ) According to a new market research report titled, “𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐋𝐮𝐛𝐫𝐢𝐜𝐚𝐧𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 by Type (Hydraulic Oil, Metalworking Fluid, Gear Oil, Compressor Oil, Grease) and Industry (Construction and Mining, Metal Production, Cement & Chemicals, Power Generation, Oil & Gas) - Global Forecast To 2025”, published by Meticulous Research®, the global industrial lubricants market is expected to grow at a CAGR of 6.4% from 2019 to reach $29.79 billion by 2025. In terms of volume, the overall industrial lubricants market is expected to grow at a CAGR of 2.3% from 2019 to reach 18,473.5 thousand tons by 2025.
The importance of industrial lubricants in commercial areas has increased over the years. They help achieve higher productivity and also improve efficiency of machineries. These lubricants can be used in variety of industries such as automotive, construction, power, oil and gas, industrial machinery, mining, and hydraulic, among many others. As these industries are growing rapidly in developed and developing countries, the demand for industrial lubricants is also growing. In addition to the traditional lubricants used, synthetic and bio lubricants are also being widely used in various industries, globally.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.meticulousresearch.com/request-sample-report/cp_id=5037
The growing automation in end use industries and strong industrial growth in emerging economies are the key factors driving the steady growth in the global industrial lubricants market. In recent years, strong industrial growth has been observed in the developing economies. According to Civil Aviation Administration of China (CAAC), the Chinese government is planning to build airports, which is double of the current number of airports. It is estimated that the number of airports will increase from 234 in 2019 to 450 in 2035. Similarly, in November 2018, the South African government announced an investment of $1.0 billion in South Sudanese oil industry to help Sudan develop its oil sector to provide more affordable energy for South Africa. With this increase in construction activities and growth in oil & gas industry, the demand for associated products such as lubricants will also increase.
The global industrial lubricants market study presents historical market data in terms of both value and volume (2017 and 2018), estimated current data (2019), and forecasts for 2025 – by industry (construction & mining, metal production, cement & chemicals, power generation, oil & gas, food & beverages, general manufacturing), type (hydraulic oil, metalworking fluids, gear oil, compressor oil, grease, turbine oil)– and geography. The study also evaluates industry competitors and analyzes the market at regional and country level.
𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐭𝐲𝐩𝐞, the hydraulic oil segment is estimated to account for the largest share of the overall industrial lubricants market in 2019. The large share of this market is mainly attributed to the growing demand from end user industries, specifically from construction and mining; and its low cost as compared to other types of industrial lubricants. However, grease market segment is slated to grow at the fastest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the extensive range of industrial applications supported by technological improvements; growing demand from emerging economies such as China, India, and Brazil, among others; legislative pressure; improving industrial grease quality; and growing awareness of bio greases among end users.
𝐓𝐨𝐩 𝟏𝟎 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐢𝐧 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐋𝐮𝐛𝐫𝐢𝐜𝐚𝐧𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: https://meticulousblog.org/top-10-companies-in-industrial-lubricants-market/
𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲, power generation industry segment is estimated to account for the largest share of the overall industrial lubricants market in 2019. The large share of this segment is mainly attributed to increasing urbanization and growing population, growing demand for electricity, steady economic growth, rising number of power generation plants, and increase in number of manufacturing industries in emerging economies.
Geographically, Asia-Pacific region is estimated to command the largest share of the global industrial lubricants market in 2019, followed by North America and Europe. In addition, Asia Pacific region is expected to grow at the highest CAGR during the forecast period. Growth in this market is mainly attributed to growing economy; rapid growth in industrialization and infrastructural developments; rising private and government investments; cost effective manufacturing operations; availability of cheap skilled labor; and presence of large number of industrial lubricant manufacturers. Moreover, growing investments in industrial sector in countries such as China, India, Japan, Indonesia, and Philippines over the years further supports the growth of industrial lubricants market in this region.
The report also includes extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past 4 years (2016–2019). The key players operating in the global industrial lubricants market are Shell International B.V., Exxon Mobil Corporation, BP P.L.C., Chevron Corporation, Total Lubrifiants, China National Petroleum Corporation, China Petroleum & Chemical Corporation (SINOPEC CORP.), LUKOIL, FUCHS PETROLUB SE, Idemitsu Kosan Co. Ltd., Klüber Lubrication, Hindustan Petroleum Corporation Limited, Eni S.P.A., The Lubrizol Corporation, and Morris Lubricants.
𝐁𝐫𝐨𝐰𝐬𝐞 𝐤𝐞𝐲 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐬𝐩𝐫𝐞𝐚𝐝 𝐚𝐜𝐫𝐨𝐬𝐬 𝟐𝟏𝟒 𝐩𝐚𝐠𝐞𝐬 𝐰𝐢𝐭𝐡 𝟏𝟔𝟎 𝐦𝐚𝐫𝐤𝐞𝐭 𝐝𝐚𝐭𝐚 𝐭𝐚𝐛𝐥𝐞𝐬 & 𝟑𝟒 𝐟𝐢𝐠𝐮𝐫𝐞𝐬 & 𝐜𝐡𝐚𝐫𝐭𝐬 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭: https://www.meticulousresearch.com/product/industrial-lubricants-market-5037/
𝐒𝐜𝐨𝐩𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:
Market by Type
Market by Industry
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Rest of Europe
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𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 @ https://www.meticulousresearch.com/download-sample-report/cp_id=5037
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