Lubricants Market, By Base Oil (Bio-Based, Mineral, Synthetic), By Product Type (Engine Oil Transmission/Hydraulic Fluid, Metalworking fluid, General Industrial Oil , Gear Oil, Grease, Process Oil, Others), By End User (Power Generation, Automotive and Other Transportation, Heavy Equipment, Food and Beverage, Metallurgy and Metalworking, Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Published In : Apr 2024

Code : CMI5004

Pages :120

Formats :

Excel and PDF

Industry : Bulk Chemicals

Market Concentration and Competitive Landscape

Lubricants Market Concentration By Players

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Industrialization & Infrastructural Growth

Majority of lubricants consumed worldwide are utilized for various industrial machinery and equipment deployed across wide-ranging sectors. Whenever there is new infrastructural construction or capacity expansion taking place in any industry, it leads to higher installation of new plants, assembly lines, mining equipment, and energy plants. All of these machinery demand application of lubricants for smooth functioning of their mechanical parts as well as to reduce friction between moving components. As globalization accelerates manufacturing activities and various emerging economies vigorously pursue industrialization, their needs for industrial lubricants proliferate concurrently. For instance, rapid growth of sectors such as power generation, steel, cement and mining in Asia Pacific nations has substantially escalated regional lubricant consumption in industrial segment. Ongoing investments in infrastructure modernization of urban centers and smart city projects also create incremental demand for lubricating specialized construction equipment and machinery engaged in these large-scale developments. Therefore, continued industrial upgrading and infrastructure growth worldwide can drive the growth of global lubricants market.

Key Players Insights