Albany, NY, June 3, 2015 (GLOBE NEWSWIRE) -- The report defines and segments the lubrication systems market, providing analysis and forecast of the global revenue. "According to the report, the global lubrication systems market was valued at USD 4,367.10 million in 2013 and is likely to reach USD 5,281.16 million by 2022, expanding at a CAGR of 2.14% between 2014 and 2022."
Lubrication systems are very essential for proper functioning of automobiles and machines in industries. Right and timely lubrication of these machines results in better efficiency and low maintenance costs, and reduces the overall manufacturing cost of products. A lubrication system also reduces the time taken and manpower required to lubricate machines. Moreover, automated lubrication systems ensure that the machines are lubricated at proper time intervals. It also purges human errors, which are common with the manual lubrication of machines.
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The research study analyzes and estimates the market size in terms of market revenue (USD Million). The report covers type, process, and end-user segments and provides region-wise data in terms of revenue. The report also provides historical data, detailed analysis, and statistically refined forecast (2014 - 2022) for the type, process, end-user, and geographical segments. On the basis of type, the report has been segmented into manual lubrication systems and automated/centralized lubrication systems. Automated/centralized lubrication systems have become more popular due to their benefits over manual lubrication systems. Manual lubrication systems are mostly used for domestic purposes such as for agricultural machines and local service centers for automobiles. End-users of lubrication systems include the cement industry, steel industry, paper industry, mining & mineral processing industry, and automobile industry. For industrial use, dry sump lubrication systems are very common. However, wet sump lubrication systems are used in more than 90% of the vehicles across the globe.
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The research covers a comprehensive analysis of key players operating in the lubrication systems market. Key participants in the global lubrication systems market include Graco Inc., Lube Corporation, Groeneveld Groep B.V., SKF AB, Bijur Delimon, Castrol-Lubecon, Changzhou Huali Hydraulic Lubrication Equipment Co., Ltd., Changhua Chen Ying Oil Machine Co., Ltd., Equipment Technology Services, and Sloan Lubrication Systems. The company profiles cover lubrication system manufacturers and distribution companies. This report provides an overview of these companies, followed by their financial revenues (on availability), business strategies, and recent developments.
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The Lubrication systems market has been segmented as follows:
Global Lubrication Systems Market: Type Analysis
- Manual Lubrication Systems
- Automated/Centralized Lubrication Systems
Global Lubrication Systems Market: Process Analysis
- Dry Sump Lubrication
- Wet Sump Lubrication
Global Lubrication Systems Market: End-user Analysis
- Cement Industry
- Steel Industry
- Mining & Mineral Processing Industry
- Automobile Industry
- Other Industries
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Global Lubrication Systems Market: Regional Analysis
- Rest of Europe
- Rest of Asia Pacific
Rest of the World (RoW)
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Source:Transparency Market Research