Oct 26 2017
The "Mining Lubricants Market, 2014 - 2025" report has been added to Research and Markets' offering.
The global mining lubricants market is expected to attain USD 3.09 billion by 2025. The market is expected to witness a CAGR of 4.6% over the forecast period, owing to rising demand for mining lubricants as it helps in reducing the downtime due to frequent oil changes, maintenance and components failures as well as economizing high cost of equipment will propel industry expansion over the forecast period.
Growth of drilling and exploration activities on a global level, as well as increased demand for mining equipment has a direct and positive impact on mining lubricants demand. In addition, Stringent regulations imposed by government bodies towards environment protection are anticipated to augment the demand for bio-based lubricants.
Automatic lubrication systems provide an exact amount of lubricants including oil or grease to moving parts such as bearings to reduce friction and wear. The market for automatic lubrication systems is anticipated to fuel the demand for mining lubricants as the companies are taking various initiatives to increase their presence in the market owning to better labelling and appropriate specifications of their synthetic lubricants.
Companies Mentioned
- BP Plc.
- Bel-Ray Company, Llc
- Chevron Corporation
- ExxonMobil Corporation
- Fuchs Group
- Kluber Lubricants
- PetroChina Company Limited
- Quaker Chemical Corp.
- Royal Dutch Shell Plc.
- Sinopec Corp.
- Total S.A.
Source: https://www.researchandmarkets.com/