New report published by Ameco Research which offers insights on the Global Automatic Lubrication Systems Market. The Automatic Lubrication Systems market has been experiencing steady growth graph since past years. During the 2017-2023 timeline, the global market for Automatic Lubrication Systems is expected to reflect 1.2 times increase in the revenue growth. In 2018 the global Automatic Lubrication Systems market was valued at US$ 786 Mn and by the end of the assessment year (2023), it is estimated to touch a value more than US$ 904 Mn growing at a value CAGR of 3.03% throughout the period of forecast.
The leading companies own the advantages on better performance, more abundant product’s types, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of high-end market. Looking to the future years, the slow upward price trend in recent years will maintain. As competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.
The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Market stays in mature period with a clear concentration. Meanwhile, optimize product mix and further develop value-added capabilities to maximize margins.
Global Automatic Lubrication Systems Market: Market Driver and Restraint
Automatic or centralized lubrication systems provide precise amounts of lubricants – oil or grease – to moving parts, notably bearings, to minimize friction and wear. These systems are increasingly seen as mission-critical products aimed at improving the productivity, reliability, energy efficiency, environmental compliance and maintenance of vehicles and industrial machinery. Automatic lubrication systems include pumps, reservoirs, valves, pipes, metering system, connectors and controllers. Tools and equipment include grease guns, reels, meters, pumps and fluid drain systems. Design and installation services are playing a more important role than before.
Global Automatic Lubrication Systems Market: Key Takeaways
This report focuses on the Automatic Lubrication Systems in global market, especially in North America, Europe, Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, types and applications.
Global Automatic Lubrication Systems Market: Forecast by Product Types
Global Automatic Lubrication Systems Market: Forecast by Application
The market trend is to move from manual solutions to automatic and centralized lubrication systems, this drives market growth above the underlying market growth. Industrial & Manufacturing Equipments accounts for almost 46% of global demand, while Transportation/Vehicles and Construction Machinery, Maintenance Market account for around 20 %, 16%, and 16% of the market share separately. By region, European markets account for about 35%, North and Latin America together make up about 33%, and Asia and the rest of the world account for 32%.
Global Automatic Lubrication Systems Market: Key Players
The number of competitors is increasing but the size of the major players seems to be on same level compared to previous years. The global major players include SKF (Sweden), Timken (USA), BEKA (Germany), Groeneveld Group (Netherlands), Graco (USA), Bijur Delimon (USA) and Andantex, Lubecore, Lubrite Industries
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