Global Mining Lubricants Market to 2026 - Rising Significance Drives Biodegradable Lubricants Demand - ResearchAndMarkets.com
The "Mining Lubricants - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The global market for Mining Lubricants is projected to reach US$2.5 Billion by 2024, registering a compounded annual growth rate (CAGR) of 5.1% over the analysis period.
China represents the largest regional market for Mining Lubricants, accounting for an estimated 24.3% share of the global total. The market is projected to reach US$709.3 Million by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 7.2% over the analysis period.
The mining lubricants market is gaining from consistently increasing demand from mining industries, rising mining activities, and rapid industrialization and urbanization in developing economies. Factors like increasing electricity demand and the resulting consumption of coal for power generation along with rising demand for various base metals including nickel, copper, zinc and lead are driving drilling & exploration activities and mining equipment demand. Rising mining activities, especially coal and iron ore mining, across countries like Brazil, China and India boosts market prospects in these regions.
In addition, increasing focus on high-performance and high-quality lubricants is anticipated to further augment the mining lubricants market. While the ongoing trend toward automated lubricants system presents lucrative opportunities for manufacturers, stringent regulations toward environmental protection are fueling the demand for bio-based mining lubricants. Asia-Pacific is the leading market, driven by increasing mining activities in India, China, Indonesia and Australia. Factors such as rapid industrialization and urbanization are expected to push steel demand and iron ore mining, which is bound to favor the market growth. In addition, continuous expansion of the automobile industry along with consumer demand for white metal jewelry is anticipated to also benefit the mining lubricants market. North America is another major market for mining lubricants globally owing to its strong position in the field of iron, coal, petroleum and natural gas production.
Select Competitors (Total 71 Featured) -
- Bel-Ray Company, LLC
- BP Plc.
- Chevron Corporation
- Exxon Mobil Corporation
- FUCHS Petrolub SE
- Idemitsu Kosan Co., Ltd.
- KlAber Lubrication
- PetroChina Company Limited
- The PJSC Lukoil Oil Company
- Quaker Chemical Corporation
- Royal Dutch Shell plc
- Schaeffer Manufacturing Co.
- Sinopec Corp.
- Total S.A.
- Whitmore Manufacturing LLC.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- A Prelude to Mining Lubricants
- Type of Mining Lubricants
- Mineral Oil & Bio-based Lubricants
- Synthetic Lubricants
- Mining Techniques
- Lubricant Usage by Equipment Function
- Engine
- Hydraulic
- Transmission
- Gear
- End-Use Application Sectors for Mining Lubricants
- Coal Mining
- Iron Ore Mining
- Bauxite Mining
- Other End-Uses
- Mining Industry Growth Promises Lucrative Opportunities for Mining Lubricants Market
- Recent Market Activity
- Mineral Oil & Bio-Based Lubricants Command Global Market
- Coal Mining Occupies Leading Share of Global Demand
- Asia-Pacific (including China) Exhibits Massive Gains
- India Remains Strong Mining Lubricants Market in Asia-Pacific
- World Mining Lubricants Market (2019 & 2025): Percentage Breakdown of Value Sales for Developed and Developing Regions
- Global Mining Lubricants Market - Geographic Regions Ranked by Value CAGR for 2018-2025
- Economic Scenario and its Impact on Mining Lubricant Market
- Global Economic Outlook: Real GDP Growth Rates in % by Country/Region for the Years 2018 through 2021
- Manufacturing PMI: An Important Bellwether
- Global Manufacturing Purchasing Managers' Index (PMI) for the Years 2012 through 2019
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Increasing Demand for Mining Equipment to Catalyze Global Mining Lubricants Market
- Industrial Equipment/Machinery Manufacturing Industry Promises Bright Prospects
- Global Mining Equipment Market: Revenues in US$ Billion for the Years 2019, 2021, 2023 and 2025
- Need for Continuous Maintenance of Mining Equipment Driving Growth
- Increase in Coal-Fired Thermal Power Generation Buoys Mining Lubricants Demand
- Global Coal Based Thermal Power Production (2018): Percentage Breakdown of Unit Electricity by Country
- Iron Ore Mining: A Key Market for Mining Lubricants
- Global Iron Ore Production (In Million Tonnes) by Major Countries: 2019
- Iron Ore Reserves
- Global Iron Ore Reserves (2017): Percentage Share Breakdown of Crude Reserves by Geographic Region
- A Quick Review of the Steel Industry, The Leading Consumer of Iron Ore
- Global Crude Steel Production in Million Metric Tons (2007-2019)
- Global Steel Market (2016): Percentage Breakdown of Crude Steel Production by Region
- Bauxite Mining: An Important End-Use Sector of Lubricants
- Global Bauxite Reserves (2018): Breakdown of Mine Reserves in Million Metric Tons by Leading Countries
- Percentage Volume Breakdown of Global Alumina Production by Region (2018)
- Rising Demand for Quality Mining Lubricants Steering Growth
- Mounting Pressure to Push Profits and Cut Costs Spur Demand for Mining Lubricants
- Automatic Lubrication Records Significant Demand due to Advantages over Manual Systems
- Advantages of Automated Lubrication over Manual Lubrication
- Renewed Focus on Environmental Protection Triggers Demand for Bio-Based Lubricants
- Rising Significance Drives Biodegradable Lubricants Demand
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/yvw0vd
View source version on businesswire.com: https://www.businesswire.com/news/home/20220302005525/en/
