Industrial lubricants are used to reduce friction and also lessen the wear and tear of materials. The increasing demand for lightweight passenger cars and heavy-duty commercial vehicles, is expected to drive the demand of industrial lubricants. Increasing disposable income among individuals in developing countries also has a positive influence on industrial lubricants market. However, the high cost of synthetic lubricants may hamper the growth of the global industrial lubricants market.
Global industrial lubricants market was valued at USD 56.87 billion in 2016, and is expected to grow at CAGR of 2.4% by 2022.
The key players of global industrial lubricants market are ExxonMobil Corporation (U.S.), Royal Dutch Shell Plc. (The Netherlands), Chevron Corporation (U.S.), BP p.l.c. (U.K.), Total S.A. (France), Petrochina Company Limited (China), Sinopec Limited (China), LUKOIL (Russia), Fuchs Petrolub AG (Germany), and Idemitsu Kosan Co. Ltd (Japan).
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Market Research Analysis
On the basis of regions, global industrial lubricants market is segmented as North America, Europe, Asia-Pacific and RoW. Asia-Pacific region accounts the largest market share of the global industrial lubricants market. Rapid industrialization in developing countries such as India and China is the primary factor driving the growth of the market in Asia-Pacific region. Additionally, growing automotive, transportation and construction industries in these countries also accelerate the demand of industrial lubricants in Asia-Pacific region. Asia-Pacific region is expected to grow at the fastest pace during the forecast period. Saturated regions such as Europe are expected to grow at a moderate pace, owing to increasing output from end-use industries.
Access the market data and market information presented through more than 25 market data tables and 25 figures spread over 111 numbers of pages of the project report “Industrial Lubricants Market Research Report – Forecast to 2022”
Scope of the Report
This study provides an overview of the global industrial lubricants market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Industrial lubricants market by its type, end user and region.
- Hydraulic lubricants
- Compressor lubricants
- Gear lubricants
- Metal working fluids
By End User
- Heavy industries
- Power Generation
- North America
- Asia Pacific
- Rest of the World
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List of Figures
FIGURE 1 Research Type
FIGURE 2 Global Industrial Lubricants Market: By Type (%)
FIGURE 3 Global Industrial Lubricants Market: By End User (%)
FIGURE 4 Global Industrial Lubricants Market: By Region
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