Automatic Lubrication Systems Market
According to Persistence Market Research, the global automatic lubrication systems market will grow to be worth $1.55 billion at a CAGR of 4.5% by 2032. This growth is driven by a number of factors, including the increasing demand from end-use industries and the rising awareness of the benefits of automatic lubrication systems.
The global Automatic Lubrication Systems market is expected to witness significant growth during the forecast period. The increasing demand from end-use industries is projected to drive the market growth. Additionally, the rising awareness about the benefits of using automatic lubrication systems is also expected to boost the demand for these systems in the forthcoming years.
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Key Players-
- SKF
- Graco Inc.
- The Timken Company
- ABB Inc.
- Pricol Limited
- Dropsa
- H-T-L Perma USA, LP
- Bijur Delimon
- LUBE Corporation
- Klüber Lubrication
- Cenlub Systems
- Digilube Systems, Inc.
- Advanced Fluid Systems
- I.L.C. Srl
- Oil-Rite Corporation
- Simatec AG
- Lubrite Industries
- Lubrication Engineers
- Sloan Lubrication Systems
- ALLFETT
- LUBRICANT CONSULT GmbH
- Power Lube Industrial, LLC
- TriboServ GmbH & Co. KG
- A.T.S. Electro-Lube International Inc.
- Murtfeldt Kunststoffe GmbH & Co. KG
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Key Takeaways from the Automatic Lubrication Systems Market Study
- The forecast period will witness automatic lubrication systems market emphasizing on creating awareness regarding the benefits of automatic lubrication system, especially considering the present scenario that there are numerous minor components that could prove to be troublesome as not all users are knowledgeable in this regard.
- Asia-Pacific is expected to hold more than 30% of the market share. This could be credited to Japan being the flag bearer. Also, majority of companies are shifting their base to the Asia-Pacific.
- North America has been leading the market till date. It is into the saturation mode as of now. This situation is expected to continue furthermore as well. Europe comes in second.
- The shakers, thrusters, valves, generators, cranes, fans & blowers, pumps, and compressors – which need precise lubrication for functioning well, could be best served by automatic lubrication systems, with added benefits in the form of “big data”. Also, there are ultrasonic high- and low-level options. Moreover, as these systems are compatible with iOS and Android apps, lubrication could be well-managed. Apprising users about these benefits could trigger growth of automatic lubrication systems market going forward.
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