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The automatic lubrication system market share is expected to increase by USD 164.45 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 3.93%.
This automatic lubrication system market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automatic lubrication system market segmentations by product (automatic grease lubrication system and automatic oil lubrication system), end user (MM and MPI, automotive industry, construction industry, and others), and geography (Europe, North America, APAC, South America, MEA, Europe, North America, APAC, South America, and MEA). The automatic lubrication system market report also offers information on several market vendors, including AB SKF, ATS Electro-Lube Int'l Inc., Bijur Delimon International, DropsA, Graco Inc., ILC Srl, LUBE Corp., Lubecore International Inc., Sloan Lubrication Systems, and The Timken Co. among others.
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The increased concerns over worker safety is notably driving the automatic lubrication system market growth, although factors such as continued adoption of manual lubrication in north america may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automatic lubrication system industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automatic Lubrication System Market Driver
The increased concerns over worker safety is a major factor driving the global automatic lubrication system market share growth. Frequent exposure to lubricants is considered hazardous, as it can lead to health conditions such as skin carcinoma and bladder carcinoma. Depending on the carcinogenic risk, mineral-based lubricants have been categorized into four major types by the International Agency for Research on Cancer. The Group 1 category comprises base oils such as aromatic oils, acid-treated oils, hydro-treated oils, and retreated solvent-refined oils, which are proven to be risk factors for skin cancer. Other factors that affect the safety of workers are leakage, spillage, and the risk of flammability. Safety cages and safety guards are used to protect workers from injury caused by moving machinery parts. Another significant challenge for the safety of workers is the lubrication points on that are located on rooftops or at higher levels. These lubrication points are not lubricated properly due to their inaccessible position, which, in turn, affects the reliability of the machine. Hence, the use of automatic lubrication systems enables timely lubrication in the correct amount to all lubrication points, irrespective of their position. This leads to enhanced machine reliability and better worker safety, thus resulting in the increasing demand for automatic lubrication systems.
Key Automatic Lubrication System Market Trend
The emergence of integrated lubrication management programs is another factor supporting the global automatic lubrication system market share growth. The failure of lubrication systems and compatibility issues have led to the emergence of integrated lubrication management programs. It is estimated that lubricants account for 3% of the total maintenance budget of industrial enterprises; moreover, due to the use of inefficient products, techniques, and applications, this maintenance budget can reach up to 40% of the total cost of the company. In order to address such issues, vendors of automatic lubrication systems are coming up with integrated management programs that help companies run their equipment effectively. Such programs help in preventing frequent replacements, reducing overall lubrication consumption as well as waste, spending less time on routine lubrication-related maintenance, and avoiding lubricant-related equipment failures. For instance, Lubrication Technologies offers an integrated lubrication management program under the reliability-centered maintenance (RCM) approach. This program offers recommendations on the optimum lubricant type and consolidation, besides guidance on application methods, schedules, and drain intervals; and solutions covering contamination control, storage, handling, transfer and monitoring, fluid analysis, and the interpretation of results. Due to such reasons, the demand for the market will continue to grow during the forecast period.
Key Automatic Lubrication System Market Challenge
The continued adoption of manual lubrication in North America will be a major challenge for the global automatic lubrication system market share growth during the forecast period. Most of the companies in North America still use manual lubrication systems and are reluctant to shift to automatic lubrication systems. It was estimated that 85% of the lubrication systems currently in use are manual, primarily due to the misconception that switching to automatic lubrication systems may reduce the opportunities for manual technicians. Major concerns regarding the adoption of automatic lubrication systems in North America are the lack of knowledge about lubricants and the absence of a dynamic market ecosystem toward automatic lubrication systems, which can turn out to be expensive for the company and dent its revenues. This lack of awareness and expertise is hampering the adoption of automatic lubrication systems in North America. Operators in the metals and mining industry in North America prefer manual lubrication systems over automatic lubrication systems, owing to the low cost and simple operating procedures. Therefore, the high preference for manual lubrication systems in North America is expected to hamper the growth of the global automatic lubrication system market during the forecast period.
This automatic lubrication system market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global automatic lubrication system market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automatic lubrication system market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the automatic lubrication system market encompasses successful business strategies deployed by the key vendors. The automatic lubrication system market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automatic lubrication system market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the automatic lubrication system market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of global industrial machinery market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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33% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for automatic lubrication system market in APAC. Market growth in this region will be slower than the growth of the market in South America and MEA.
Increasing need for reliable machinery and effective maintenance will facilitate the automatic lubrication system market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in the region hampered the growth of the regional automatic lubrication system market in 2020. The healthcare system of several countries, such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines, faced tremendous pressure due to the COVID-19 pandemic. The pandemic negatively impacted several industries in the region, as investments in various industries other than healthcare declined drastically. However, manufacturing activities needing automatic lubrication systems activities are expected to reach their pre-COVID-19 levels by the end of 2021, as proper preventive measures are being taken to protect employees working onsite. This will mitigate the threat of COVID-19 to a large extent and aid in the resumption of manufacturing activities, thereby driving the production and subsequent sales of automatic lubrication systems in the region during the rest of the forecast period.
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The automatic lubrication system market share growth by the automatic grease lubrication system segment will be significant during the forecast period. Grease is used for both automotive and industrial purposes. Technavio expects these industries to have continued growth during the forecast period. This will lead to an increased demand for automatic grease lubricating systems in these industries during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the automatic lubrication system market size and actionable market insights on post COVID-19 impact on each segment.
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Automatic Lubrication System Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.93% |
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Market growth 2021-2025 |
$ 164.45 million |
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Market structure |
Fragmented |
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YoY growth (%) |
2.89 |
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Regional analysis |
Europe, North America, APAC, South America, MEA, Europe, North America, APAC, South America, and MEA |
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Performing market contribution |
APAC at 33% |
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Key consumer countries |
US, Germany, China, Ukraine, and Japan |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
AB SKF, ATS Electro-Lube Int'l Inc., Bijur Delimon International, DropsA, Graco Inc., ILC Srl, LUBE Corp., Lubecore International Inc., Sloan Lubrication Systems, and The Timken Co. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Market Segmentation by End-user
7 Customer landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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