style="box-sizing: border-box; margin: 0px 0px 10px; color: rgb(51, 51, 51); font-family: "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 14px;"> Moreover, lubrication systems have been witnessing a surge in demand more recently owing to growth in end-use industries, such as automotive, construction, food & beverages, oil & gas, etc. Increase in automated systems has unfolded new opportunities for the growth of the lubrication system market. Lubrication systems include mist lubrication systems, dry sump lubrication systems and wet sump lubrication systems. Mist lubrication systems are generally used for 2-stroke engines while dry sump and wet sump lubrication system are used in 4-stroke engines. The change in consumer preference from manual solutions to automated solutions is anticipated to emerge as a major trend in the lubrication system market during the forecast period.
Product Definition and Segmentation
Lubrication systems are systems which reduce friction between moving parts, thereby enhancing the life of all components. Lubrication systems are specially designed to introduce grease, oil and other lubricants to moving machines parts. These systems are available in different types, depending on their needs. The market for lubrication systems can be segmented on the basis of the following criteria:
Increased in demand of Automated/Centralized Lubrication System
Automated lubrication systems, also known as centralized lubrication systems, dispense the right amount of lubricants to critical lubrication points at the right time, which is a major factor which will increase the demand for automated/centralized lubrication systems in different end-use industries. These systems are increasingly seen as mission-critical products which improve the reliability, productivity, energy efficiency of products while adhering to environment compliance alongside reducing maintenance of industrial and vehicle machineries.
Moreover, with increasing demand for automated systems in end-use industries, the appetite for innovative product solutions is expected to remain strong over the forecast period. Focus on product development to meet consumer needs will remain the prime tool for leading lubrication system manufacturers to gain a competitive advantage.
Customization to emerge as a Major Trend
The demand for lubrication systems is projected to be grow significantly during the forecast period. Ever growing end-use industries, such as automotive, construction, food & beverages, etc., both in developing and developed economies, are the prime reason behind the growth of this market. The growing trend of automation is further expected to supplement market growth. With respect to products, the local players in the market are providing competitive innovative products at a low price.
A major trend expected five years down the line involves market leaders, both OEMs & dedicated manufacturers, focusing on customization of lubrication systems as the market of lubrication systems is fragmented owing to the presence of several global, regional and local players. The manufacturers are offering customized products and services according to consumer needs and are escalating the competition.
Regional Market Outlook
Global Lubrication System Market: Key Players
Opportunities for Market Participants
As the market is highly fragmented, the manufacturers are focusing on expanding their market presence in developing countries/regions. Moreover, small entities in the market are being acquired by or are merging with leaders. That apart, the manufacturer are focused on developing new and innovative products with enhanced parts, thereby enhancing the overall life of the systems.
Brief Approach to Research
FMI will follow a triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the nature, type, process, product type and end-use industry of the product segments covered in the study are followed by a demand-side analysis to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level and consolidated and synthesized at a global level to estimate the overall market sizes.
Key Data Points Covered in the Report
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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