Press release
Automatic Lubrication Systems Market To Witness A CAGR of 4% From 2021 onwards; post hiccups in 2020 Amidst Covid-19
Automatic Lubrication Systems Market
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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Automatic Lubrication Systems Market: Structure to look for
The key players in the automatic lubrication systems market include:
Pricol Limited, Lubrite Industries,
Oil-Rite Corporation,
LUBE Corporation,
ILC Srl,
H-T-L Perma USA,
LP,
CENLUB SYSTEMS,
Advanced Fluid Systems,
Dropsa USA,
Kluber Lubrication,
Graco Inc.,
The Timken Company,
SKF.
The players are moving towards inorganic expansion to gain a competitive edge over one another. For instance – Graco, Inc., in Jan 2020, did launch Compact Dyna-Star (CDS), and automatic lubrication system designed to address heavy-duty earth-moving machines that need to be used in extreme conditions. Of late, Schaeffler introduced “CONCEPT1”, a single-point automatic lubrication system in the US.
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Covid-19 Impact
The outbreak of Covid-19 has created ripples across all the industry verticals. The production of automatic lubrication systems has come to a halt as an outcome of partial/total lockdown inflicted all across. This scenario is expected to persist till mid-2021 (till Covid-19 vaccine is probably in place).
Analysts’ Viewpoint
“The emerging economies in the Asia-Pacific are seen adopting automatic lubrication systems at an exponential rate. This opportunism will see the market reaching US $1.4 Bn by 2030 from US $900 Mn in 2020”.
About Industrial Automation Domain of Persistencemarketresearch@ https://www.persistencemarketresearch.com/category/industrial-automation.asp
The Industrial Automation team at Persistence Market Research provides expert opinions and incisive inputs about broad array of products used extensively in the manufacturing industry. The team has compiled comprehensive market research reports on gears, valves, bearings, special purpose machinery, and other key segments in this evolving landscape. In addition to offering syndicated market research studies, the team consults clients from all across the globe on their unique, strategic needs. Need help with your next project? Feel free to reach out.
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