Global lubricant testing machine demand is anticipated to be valued at USD 80 Billion in 2022, forecast to grow at a CAGR of 3.24% to be valued at USD 110 Billion from 2022 to 2032. Growth is attributed to increased demand for lubricant testing machines from the automotive industry
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2021) | USD 77.49 Billion |
| Expected Market Value (2022) | USD 80 Billion |
| Anticipated Forecast Value (2032) | USD 110 Billion |
| Projected Growth Rate (2022 to 2032) | 3.24% CAGR |
A lubricant testing machine monitors the quality of oils or lubricants used in combustion engines and other expensive machinery and systems. Lubricating oil is the lifeblood of oil-wetted machinery and is necessary for the well-being of the equipment. Lubricants are mainly used in the industrial sector for the seamless operation of machines.
They are also used in the automotive industry for smooth working and durability of engines and other components, abrasion, and lowering of heat generated through friction while maintaining the locomotion of the engine. Lubricants are available in the semi-fluid, solid states, and possess numerous features, such as low freezing point, high level of thermal stability, high viscosity index, and high boiling point all of which help to lessen friction among surfaces of machine parts and the rate of wear & tear, without negotiating operational efficiency.
To check the aforementioned properties, lubricant testing machines are used to measure these properties and indicate the actual findings. The findings from the lubricant testing machine can help the lubricant manufacturer in rectifying the lubricant quality. Lubricant testing machines are generally employed by product-grade certification and testing agencies as well as by the lubricant manufacturer’s internal product development unit.
The frequent technological developments in the production of automobiles and industrial machinery have intensified the need for environment-friendly lubricants, high-performance, and additives. This in turn has enabled the lubricant manufacturers to maintain product conformance standards and develop new prototypes in meeting the updated product characteristics.
The lubricant testing machine market is thus said to benefit from sales of units to the product manufacturers who have otherwise previously never endorsed regular quality tests. The lubricant testing machine is also slated to be used by end users of lubricants such as automotive, marine, aerospace, etc. which will aid their product performance.
Increase in demand from end-use sectors such as automotive, oil & gas, industrial machinery, and others will spur demand for the lubricant testing machine market. Moreover, stringent regulations and guidelines related to the lubricant market will also support the demand for the lubricant testing machine market for the forecast period.
The lubricant testing machines function well for longer durations. In addition, they do not require maintenance and constant changes. This, in turn, does not contribute to more sales of the machine. These factors are restraining the growth of lubricant testing machines.
There are various standards and guidelines related to monitoring oil condition & lubricant testing, and assessment of the lubricants used in your machinery, engines, and other similar systems. For instance,
There has been increasing usage of multigrade lubricants in USA and Canada. Multigrade oils are ideal in this region due to their better performance in extremely cold climates. Consequently, the engine start-up process is often stuck. To check the antifreeze / anti-knocking properties, the lubricating testing machine market has witnessed significant growth in its use for the same.
The automotive industry present in Germany is a huge contributor to the sales of lubricant testing machines. The government regulations for using lubricants are escalating the use of lubricant testing machines. Thus, these factors are escalating the demand for the same. Thus, Europe is expected to register a CAGR of around 8% in the forecast period 2022 to 2032.
Examples of some of the market participants/vendors identified in the Lubricant Testing Machine market across the globe are Integrated Scientific Ltd, Intertek Group Plc, Amtek Spectro Scientific, Koehler Instrument Company, Inc., Wadegati Labequip Pvt. Ltd, Gianni Scavini di R. Scavini & C. snc, Bimal S.p.A, Geresco among others.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 3.24% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | End Use Sector, Machine, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Asia-Pacific excluding Japan; Japan; Middle East and Africa |
| Key Countries Profiled | United States of America, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC Countries, South Africa |
| Key Companies Profiled | Integrated Scientific Ltd.; Intertek Group Plc; Amtek Spectro Scientific; Koehler Instrument Company, Inc.; Wadegati Labequip Pvt. Ltd.; Gianni Scavini di R. Scavini & C. snc; Bimal S.p.A; Geresco |
| Customization | Available Upon Request |
FMI projects the global lubricant testing machine market to expand at a 3.24% value CAGR by 2032
Asia Pacific is expected to be the most opportunistic lubricant testing machine market, expanding at an 8% CAGR
Integrated Scientific Ltd, Intertek Group Plc, Amtek Spectro Scientific, Koehler Instrument Company, Inc., Wadegati Labequip Pvt. Ltd, Gianni Scavini di R. Scavini & C. snc, Bimal S.p.A, and Geresco are some prominent lubricant testing machine manufacturers
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Lubricant Testing Machine Market
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