Lubricant is a substance that minimizes the friction, wear, corrosion, and excessive heat, which helps in increasing the service life of machine. Lubrication equipment are used to control and dissipate the required amount of lubricants on desired area of application on machines such as gears, cables, pumps, and chain. These equipment have enhanced the lubrication system by providing the lubrication at proper interval and correct timings.
COVID-19 Impact Analysis
- COVID-19 pandemic has led to halt in the production of various products in the lubrication equipment industry attributed to the implementation of lockdown in countries worldwide. This has hampered the growth of lubrication equipment market in 2020 and, is likely to revive in 2021.
- COVID-19 has already affected the sales of lubrication equipment in the second and third quarter of 2020; however, is expected to revive in 2021.
- The major demand for lubrication equipment was previously noticed from countries including the U.S., Germany, Italy, the UK, and India, which are negatively affected by the spread of the corona virus, thereby declining the demand for lubrication equipment.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Lubrication equipment manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce the expenses. On the contrary, few players adopted employee lay-offs to sustain during the COVID-19 health crisis
- Lubrication equipment manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.
Top Impacting Factors
Global lubrication equipment market is expected to grow at a significant rate, due to increase in use of machineries and effective maintenance. Lubrication significantly reduces exposure to many causes of potentially costly equipment breakdowns and failures. Its implementation is dependent on number of lubricant points on required position and frequency of lubrications. It can save the cost of labor required for lubrication. Poor heat dissipation, poor self-healing properties, and limited storage & service life are the factors hindering the demand and use of these equipment.
Market Trends
- North America is accountable for the highest market share in the global market. This is attributed to rapid industrial growth.
- Asia-Pacific has witnessed the significant growth due to rapid industrialization.
- Engine oil and grease as lubricants are the most dominative products in the market.
- Waste oil handling equipment, which is a product in lubricant equipment market, collects the wasted oil from the machineries and transfer it to lubrication emitting point for reuse. Its use is promoted to various industries such as mechanical industry and automotive industry across the globe.
- Leading market participants are focusing on expansion of supply chain with local distributors and vendors.
Key Benefits of the Report
- This study presents the analytical depiction of the lubrication equipment market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Lubrication Equipment Report
- Who are the leading global players in the “lubrication equipment “market?
- What are the current trends and predicted trends?
- What is “lubrication equipment "?
- What is “lubrication equipment “market prediction in the future?
- What are the challenges faced in the “lubrication equipment “market?
- What are the driving factors and opportunities in the market?
- What are the key benefits of the “lubrication equipment “market report?
Lubrication Equipment Market Report Highlights
| Aspects | Details |
 By Product Type |
|
 By Pressure Type |
|
 By Application Type |
|
 By End User |
|
 By Region |
|
 Key Market Players | LDI Industries, Inc., LSP Industries, Inc., Taiwan Lube-Up Co., Ltd., Lubrication Technologies, Inc., Egmech Industry, American Lubrication Equipment Corporation Arnold Oil Company, Industrial Innovations, Graco Inc., Howard marten Company, Ltd. |
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