In large, heavy-duty machines and mining equipment, there is a high of automation to maintain performance levels and minimize or eliminate downtime, which can be supported by automatic lubrication systems. These systems are robust enough to withstand harsh operating conditions, are simple to fit and set up, and are available with a range of different lubricants. Switching to automatic lubrication systems results in significant increase in bearing life, and offers a fast return on investment. These factors help in pushing the growth of the automatic lubrication system market size.
Reduction in Operating Costs Offered by Automatic Lubrication Systems
Utilizing high-quality automatic lubrication systems pays off in many ways. When a system is installed, lubricated equipment will operate nearly maintenance-free, reducing total cost of production and operation. Automatic lubrication systems can decrease lubricant consumption considerably, and are much cleaner than manual lubrication systems.
Higher Productivity Using Automatic Lubrication Systems
Lubrication is a critical aspect in machine reliability. A well-organized and executed automatic lubrication system is a money and labor saving solution. It can save the quantity of lubricant used, extend component life, eliminate downtime caused by improper lubrication, and can increase safety at a manufacturing facility.
High mechanical loads, vibration, moisture, and contamination are all threats to bearing and gear service life. Similar to any mechanical system, moving parts in compressors, pumps, fans & blowers, cranes, generators, valves, thrusters, and shakers need appropriate lubrication to function optimally. Automatic lubrication systems ensure fast and precise lubrication to these components and provide improved productivity.
As such demand is high, which aids in the growth of the automatic lubrication system market.
Integration of Smart Sensors in Lubrication Systems
Integrating smart sensors and monitoring devices into lubrication systems results in added advantages of big data. Machine operators can get early warning of equipment failures by recording the whole lubrication process, and can take precautionary actions accordingly. Versatile and reliable lubrication systems also offer ultrasonic low- and high-level control options. Furthermore, automatic lubrication systems are evolving continually, with the delivery of lubricants being carried out efficiently and easily. Also, automatic lubrication systems are compatible with Android and iOS apps, and have tool-free set-up, all of which offer the opportunity to create a well-organized and easily managed lubrication regime.
Automatic Lubrication System Market: Structure Analysis
Prominent players operating in the automatic lubrication system market are focusing on business expansion such as mergers & acquisitions, partnerships, and contracts to further strengthen their market presence in regional and global markets, and new product launches to enhance their product portfolios in lubrication systems. For instance, in January 2020, Graco Inc. launched the Compact Dyna-Star® (CDS) automatic lubrication system, designed specifically for heavy-duty earth-moving machines used at extreme work environments.
Major players in the automatic lubrication system market include SKF, The Timken Company, Graco Inc., and Kluber Lubrication. However, tier-2 and other automatic lubrication system manufacturers include Dropsa USA, Advanced Fluid Systems, CENLUB SYSTEMS, H-T-L Perma USA, LP, ILC Srl, LUBE Corporation, Oil-Rite Corporation, Lubrite Industries, and Pricol Limited, among others.
Automatic Lubrication System Market – Covid-19 Pandemic Impact
Industrial activities across the world have been adversely affected due to the outbreak of Covid-19. Lockdowns and travel restrictions have led to temporary shutting down of facilities across geographies, which has hit the demand for automatic lubrication systems. As lockdown restrictions ease across the world, projects will get underway, thereby bringing the progress of the automatic lubrication system market back on track; this would take at least a year’s time to get back to normal.
Developing economies such as those in Asia Pacific are expected to witness strong growth in the adoption of automatic lubrication systems for different applications. As a result, the Asia Pacific automatic lubrication system market is expected to be opportunistic, owing to increasing automation in the industry. The global automatic lubrication system market is projected to witness decent growth over the forecast period, and experience an increase in revenue from US$ 900 Mn in 2020 to US$ 1.4 Bn by the year 2030.
Automatic Lubrication System Market – Report Scope
Persistence Market Research (PMR) recently published a study report on the global automatic lubrication system market. The report provides detailed valuation on key market dynamics, such as the drivers, trends, opportunities, and restraints, along with detailed information about the automatic lubrication system market structure. This market research report presents exclusive facts and figures about how the automatic lubrication system market will grow over the forecast period.
Key indicators of market growth, such as value chain analysis, compounded annual growth rate (CAGR), and year-on-year (Y-o-Y) growth of the market are explained in PMR’s study in a comprehensive manner. This information can help readers understand the quantitative development projections of the automatic lubrication system market over the forecast period.
The study is relevant for stakeholders in the automatic lubrication system market, as well as manufacturers, distributors, suppliers, and investors, as it can help them understand applicable strategies to grow in the market. Stakeholders, investors, industry experts, researchers, and journalists, as well as business researchers in the automatic lubrication system market can leverage the information and statistics presented in PMR’s research report.
The report includes facts and figures related to the macro- as well as macro-economic factors that are impacting the growth of the automatic lubrication system market. The study also offers actionable insights based on the future trends in the automatic lubrication system market. Furthermore, regional players and new entrants in the automatic lubrication system market can also use the information presented in this report to make business decisions and gain momentum in the market.
Key Segments of Automatic Lubrication System Market
PMR’s study on the automatic lubrication system market is divided into four significant segments - system type, end use, lubrication type and region. This report offers comprehensive data and information about the important market dynamics and growth parameters related to these categories.
Key Questions Answered in PMR’s Automatic Lubrication System Market Report
Automatic Lubrication System Market: Research Methodology
In PMR’s research report, exclusive research methodology is utilized to conduct comprehensive research on the development of the automatic lubrication system market and reach conclusions on the future growth factors of the market. In this research methodology, secondary, and primary research is utilized by assistant analysts to ensure precision and reliability of the conclusions.
Secondary resources are referred to by analysts during the evaluation of the automatic lubrication system market study, which comprises facts and figures from the World Bank, OEM websites, government websites, white papers, trade journals, and external and internal databases. Analysts have thoroughly interviewed several industry experts, such as sales supervisors, sales operation managers, product portfolio managers, senior managers, market intelligence managers, marketing/product managers, and production managers to provide insightful information.
Comprehensive information acquired from primary and secondary resources is validated from companies operating in the market to make PMR’s projections on the growth prospects of the automatic lubrication system market more accurate and reliable.