A Peek At The Immediate Future of the Industrial Lubricants Market
Asia-Pacific dominates with major share in the Industrial Lubricants Market:
Asia-Pacific region, especially China, has been innovating, manufacturing and exporting a wide variety of Lubricants. The Asia-Pacific is the frontrunner and emerging market that holds the maximum share, due to factors like rapid industrialization in this region. The Asia-Pacific market reached a value of $40.14 billion in 2017. The upcoming market is expected to grow at the highest CAGR of 6.22%, to reach a revenue of $52.52 billion by 2023. TheNorth American market demand is expected to remain constant over the forecast period. North America is expected to grow at a CAGR of 7.62%, and to register a revenue of $42.23 billion by 2023 from $25.36 billion in 2017.
The demand for industrial lubricants in the United States is expected to display a moderate growth per year through 2018. The European market looks positive for the coming years, but a downfall is expected. Germany and Poland will continue to turn the growth. Spain and Turkey is expected to decline in return to growth, and the Greecegrowing rate has also been analyzed to be slowing down in the next coming years.
Selected Type and Application Analysis was done in the Industrial Lubricants Market Report:
Among different types of industrial lubricants, gear and compressor based lubricants are the largest segments, leading with the maximum number for revenue in the market. Both the segment accountedfor45% of the total industrial lubricant market share in terms of value in 2017. The Gear lubricant market value is expected to grow at a CAGR of 5.37%, and to register $31.99 billion by 2023, from $23.37 billion by 2017. Compressor oil lubricant market is the second leading market. The compressor lubricant market is expected to reach a value of $28.81 billion by 2023, rising at a CAGR of 5.11% from $21.36 billion in 2017. Turbine lubricant market is the last one in order to achieve a huge number of values. The market is expected to achieve the lowest value of $19.41 million by 2023. In the end-user profile, automotive and energy are the largest segments with a share of 55% in the overall industrial market. Two of this end-user segments are expected to benefit the industry in the next five years.
Excerpts on Industrial Lubricants Market Growth Factors:
- Manufacturing companies for these lubricants are aiming to improve and protect the properties of lubricants. The research industry is in progress to develop and establish low-cost manufacturing platforms that support mass production. These major changes will gear the market in the coming future.
- Growing demand for low viscosity fluids in the motorized sector and growing demand for grease lubricant in industries to maintain smooth working of machines are the key factors fueling the market.
- High demand for renewable energy resources in the application segment has opened a new avenue for the industry. Technological harnessing and storing energy from the renewable base such as solar, ocean, and wind are growing at a rapid pace. Utilization of industrial machine oil such machinery to reduce corrosion and damage is contributing to higher energy conversion rate.
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Key players of the Industrial Lubricants Market:
Exxon Mobil Corp. and Royal Dutch Shell PLC are the major market players in the industrial lubricants market. Exxon Mobil Corp. has a wide range of products such as synthetic gear oil and mineral based products that enables lubricants of various industrial applications. Royal Dutch Shell PLC has a broad variety of lubricants serving various industries including automotive, oil and gas, mining and so on. Chevron Corporation is a leading manufacturer of finished lubricants with premium based lubrication oils to deliver exceptionally reliable performance in a wide group of machine operating conditions. Other companies include China Petroleum and Chemical Corporation, JX Nippon Oil & Energy Corporation, LUKOIL, Valvoline and many more.
Industrial Lubricants Market report is segmented as below
A. Industrial Lubricants Market – By Type
- Gear Lubricants
- Compressor Lubricants
- Hydraulic Lubricants
- Turbine Lubricants
- Metal Working Lubricants
- Others
B. Industrial Lubricants Market – By Application
- Automotive
- Energy
- Mining
- Marine
- Chemicals
- Food Processing
- Textiles
- Others
C. Industrial Lubricants Market by Geography (covers 10+ countries)
D. Industrial Lubricants Entropy Market
E. Manufacturer Citied / Interviewed
- FUCHS LubritechGmb
- Idemitsu Kosan Co. Ltd
- Petroleum Nasional Berhad(PETRONAS)
- Total S.A
- BP P.L.C
- Company 6
- Company 7
- Company 8
- Company 9
- Company 10+
What can you expect from the report?
The Industrial Lubricants Market Report is Prepared with the Main Agenda to Cover the following 20 points:
- Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
- Market trends & Relevant Market Data 12. Country-level Analysis
- Manufacturer Landscape 13. Competitor Analysis
- Distributor Landscape 14. Market Shares Analysis
- Pricing Analysis 15. Value Chain Analysis
- Top 10 End-user Analysis 16. Supply Chain Analysis
- Product Benchmarking 17. Strategic Analysis
- Product Developments 18. Current & Future Market Landscape Analysis
- Mergers & Acquisition Analysis 19. Opportunity Analysis
- Patent Analysis 20. Revenue and Volume Analysis
Frequently Asked Questions:
Q. Does IndustryARC publish country or application based reports in Industrial Lubricants Market segment?
Response: Yes, we do have separate reports as mentioned below:
- America Industrial Lubricants Market Share(2018-2023)
- Europe Industrial Lubricants Market Growth(2018-2023)
- Asia-Pacific Industrial Lubricants Market Analysis(2018-2023)
- Type Industrial Lubricants Market Forecast(2018-2023)
- ApplicationIndustrial Lubricants Market (2018-2023)
Q. Does IndustryARC provide customized reports and charge additionally for limited customization?
Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
- Increase the level of data in the application or end user industry.
- Increase the number of countries in geography chapter.
- Find out market shares for other smaller companies or companies which are of interest to you.
- Company profiles can be requested based on your interests.
- Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end-use segment.
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