#Lubricant Market Revenue
Explore tagged Tumblr posts
Text
Lubricant Market: Trends, Size & Key Industry Players
The global lubricant market is a vital component of the automotive, industrial, and machinery sectors, serving as a critical factor in ensuring the smooth functioning and longevity of equipment. Lubricants reduce friction, wear, and tear, leading to improved efficiency and performance in various applications. This market has shown robust growth over the years, driven by the increasing demand from end-use industries, technological advancements, and the expansion of the automotive sector. In this blog, we will explore the market size, share, and growth of the lubricant market, analyze current market trends, identify key players, discuss the challenges facing the market, and conclude with insights into its future trajectory.
Market Size, Share, and Growth
As of 2023, the global lubricant market was valued at approximately USD 163 billion. This market is expected to grow at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2030, reaching a value of around USD 205 billion by the end of the forecast period. The growth of this market can be attributed to the rising demand for lubricants in emerging economies, the expansion of the automotive industry, and the increasing industrialization and mechanization of various sectors.
The automotive sector accounts for the largest share of the lubricant market, holding nearly 50% of the market revenue. This dominance is primarily due to the extensive use of lubricants in engine oils, gear oils, and transmission fluids, which are essential for the maintenance and efficiency of vehicles. The industrial segment follows closely, with significant demand from manufacturing, power generation, and other heavy machinery sectors.
Market Trends
Several key trends are shaping the growth and evolution of the lubricant market:
Shift Towards Synthetic and Bio-Based Lubricants: Environmental concerns and the need for sustainability have led to a significant shift from conventional mineral-based lubricants to synthetic and bio-based alternatives. Synthetic lubricants, known for their superior performance, longer life, and better thermal stability, are gaining traction, especially in developed markets. Bio-based lubricants, derived from renewable resources, are also seeing increased adoption due to their biodegradable nature and lower environmental impact.
Rising Demand from Emerging Markets: Emerging economies in Asia-Pacific, particularly China and India, are driving the demand for lubricants. Rapid industrialization, increasing automotive sales, and infrastructure development in these regions are key factors contributing to market growth. The Asia-Pacific region holds the largest market share, accounting for nearly 40% of the global lubricant consumption.
Technological Advancements: Innovation in lubricant formulation and production processes is a significant trend in the market. Companies are focusing on developing high-performance lubricants that offer better fuel efficiency, reduced emissions, and extended service intervals. Additionally, advancements in additive technology are enhancing the overall quality and functionality of lubricants.
Growing Focus on Energy Efficiency: Energy efficiency has become a critical factor in industrial operations and automotive applications. Lubricants that reduce friction and energy losses are in high demand, as they contribute to lower operating costs and improved sustainability. This trend is particularly evident in the manufacturing and transportation sectors, where energy efficiency is directly linked to profitability and environmental impact.
Key Market Players and Their Market Share
The global lubricant market is highly competitive, with several key players dominating the industry. These companies are involved in extensive research and development activities, mergers and acquisitions, and strategic partnerships to maintain their market positions. Some of the leading players in the lubricant market include:
Royal Dutch Shell Plc: Shell is a global leader in the lubricant market, holding a market share of approximately 12%. The company offers a wide range of lubricants under its Shell Helix, Shell Rimula, and Shell Tellus brands. Shellâs strong global presence, innovative product portfolio, and commitment to sustainability have helped it maintain a leading position in the market.
ExxonMobil Corporation: ExxonMobil is another major player in the lubricant industry, with a market share of around 10%. The companyâs Mobil 1, Mobil Delvac, and Mobil SHC brands are well-known for their high performance and reliability. ExxonMobilâs focus on technological innovation and its extensive distribution network contribute to its strong market presence.
BP Plc (Castrol): BP, through its Castrol brand, holds a significant share of the lubricant market, estimated at 8%. Castrolâs lubricants are widely used in automotive, industrial, and marine applications. The companyâs focus on developing environmentally friendly products and its strong brand reputation have been key factors in its success.
TotalEnergies SE: TotalEnergies is a prominent player in the global lubricant market, with a market share of approximately 7%. The company offers a diverse range of lubricants under its Total Quartz, Total Rubia, and Total Azolla brands. TotalEnergiesâ commitment to sustainability and its extensive presence in emerging markets are driving its growth in the industry.
Chevron Corporation: Chevron, with its Havoline and Delo brands, holds a market share of around 6%. The company is known for its high-quality lubricants, which are used in a wide range of applications, including automotive, industrial, and marine sectors. Chevronâs focus on innovation and customer satisfaction has helped it maintain a strong position in the market.
Market Challenges
Despite the positive growth outlook, the lubricant market faces several challenges that could impact its development:
Environmental Regulations: Stringent environmental regulations regarding emissions and waste disposal are a significant challenge for the lubricant industry. Governments worldwide are implementing stricter standards to reduce environmental impact, which is driving the shift towards synthetic and bio-based lubricants. However, the high cost of these alternatives can be a barrier to their widespread adoption, particularly in price-sensitive markets.
Fluctuating Raw Material Prices: The lubricant industry is highly dependent on the availability and cost of raw materials, particularly crude oil. Fluctuations in crude oil prices can significantly impact the profitability of lubricant manufacturers. Additionally, the increasing demand for synthetic and bio-based lubricants is putting pressure on the supply of raw materials, leading to potential supply chain disruptions.
Technological Disruption: The rapid pace of technological advancement in the automotive and industrial sectors poses a challenge to the lubricant market. The development of electric vehicles (EVs), for example, requires less lubrication compared to traditional internal combustion engine vehicles. This shift could reduce the demand for automotive lubricants in the long term.
Market Fragmentation: The lubricant market is highly fragmented, with numerous small and medium-sized players competing with established giants. This fragmentation can lead to intense price competition, which can erode profit margins and hinder market growth. Additionally, the presence of counterfeit products in certain regions poses a challenge to maintaining product quality and brand reputation.
Conclusion
The global lubricant market is poised for steady growth in the coming years, driven by increasing demand from emerging economies, technological advancements, and the ongoing shift towards synthetic and bio-based products. However, the market faces significant challenges, including stringent environmental regulations, fluctuating raw material prices, and technological disruption. To navigate these challenges, industry players must focus on innovation, sustainability, and strategic partnerships. Companies that can adapt to changing market dynamics and meet the evolving needs of consumers will be well-positioned to succeed in this competitive landscape. In conclusion, the lubricant market remains a critical component of the global economy, supporting a wide range of industries and applications. While challenges exist, the market's resilience and adaptability suggest a promising future, with continued opportunities for growth and development.
#Lubricant Sector#Marine Lubricant Market#Global Lubricant Industry#Top 20 Lubricants Companies#Lubricant Market Players#Lubricant Market Revenue#Lubricant Market Size
0 notes
Text
An In-Depth Analysis of the Marine Lubricants Industry : Lubricating the Future of Shipping
The global marine lubricants market size is expected to reach USD 10.27 billion by 2030, registering a CAGR of 4.2% over the forecast period, according to a new report by Grand View Research, Inc. Growing concerns regarding oceanic pollution caused by improper engine function and subsequent demand for fuel-efficient engines are estimated to trigger the growth of the market.
Growth in international trade, removal of trade barriers being the principal reason, is encouraging developing countries to concentrate more on the improvement of their infrastructure, such as roads, airports, and seaports, which play a vital role in the development of the economy. Product storage, along with the capacity to move large shipments, has placed the shipping industry in a very advantageous position.
Gain deeper insights on the market and receive your free copy with TOC now @: Marine Lubricants Market Report
Global shipping majors, just like other segments of the conventional transport industry, are increasingly getting integrated with emerging global logistics and supply chain activities, owing to both external and internal dynamics. These factors have aided industry participants in substantially consolidating their market position and supplementing their ocean freight income, subsequently stoking the demand for marine lubricants.
Engine oils dominated the market over 46.0% volume share in 2022. These products are widely used in high, medium, and slow speed marine engines to extend service life and protect interior components from high temperatures & pressure. Some lubricants even offer additive protection against crankcases, camshaft areas, under-crowns, and ring belts.
Other products such as refrigeration compressor oils are specifically formulated to perform in extreme temperature environments and consist of HFC, CFC, and ozone-friendly refrigerants. These lubricants significantly prevent congealing on valves.
#Marine Lubricants Market Size & Share#Marine Lubricants Market Latest Trends#Marine Lubricants Market Growth Forecast#COVID-19 Impacts On Marine Lubricants Market#Marine Lubricants Market Revenue Value
3 notes
·
View notes
Text
Mining Lubricants Market Segment Analysis By Product, Application, Region And Forecast Till 2030 : Grand View Research Inc.
Mining Lubricants Market Segment Analysis By Product, Application, Region And Forecast Till 2030 : Grand View Research Inc.
San Francisco, 12 Jan 2023: The Report Mining Lubricants Market Size, Share & Trends Analysis Report By Product (Mineral Oil, Synthetic, Bio-based), By Application (Coal Mining, Iron Ore Mining), By Region, And Segment Forecasts, 2022 â 2030 The global mining lubricants market size is estimated to reach USD 8.96 billion by 2030, growing at 3.8% CAGR, according to a new report by Grand ViewâŠ
View On WordPress
#Mining Lubricants Industry#Mining Lubricants Market#Mining Lubricants Market 2030#Mining Lubricants Market Revenue#Mining Lubricants Market Share#Mining Lubricants Market Size
0 notes
Text
Metalworking Fluids Market 2030 Size, Share, Business Growth, Demand and Applications
The global metalworking fluids market size was valued at USD 12.17 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2030. This growth is primarily driven by the rising demand for automotive and heavy machinery across various industries, including machinery manufacturing, metal fabrication, and transportation equipment. These sectors rely on metalworking fluids for their ability to improve the machining and manufacturing process. The primary raw material used in producing MWFs is crude oil, which undergoes refining, treatment, and blending to produce key MWF types such as neat cutting oils, soluble oils, and corrosion-preventive oils. Base oil derived from crude oil represents around 40% of the overall MWF production cost and is essential for the manufacture of motor oils, lubricants, and MWFs.
The growth in the automotive industry is a significant factor boosting MWF demand, as these fluids help reduce friction between the tool and the workpiece, prevent metal chips, ensure high-quality surface finishes, and extend the lifespan of tools. These benefits contribute to more efficient machining processes, enhancing production rates. Consequently, the need for metalworking fluids is expected to remain stable, particularly in automotive applications, over the forecast period.
The manufacturing industry is a key economic sector in North America and Europe. Technological advancements in manufacturing processes for sophisticated products, alongside increased exports of construction machinery, power equipment, agricultural machinery, and automotive equipment, have contributed to the growth of the MWF market in these regions. Additionally, Asia Pacificâs demand for advanced machinery in agriculture, automotive, and construction industries supports MWF market expansion in both North America and Europe, as manufacturers in these regions continue to supply global demand.
Gather more insights about the market drivers, restrains and growth of the Metalworking Fluids Market
Application Segmentation Insights:
The neat-cutting oil segment led the MWF market, accounting for over 42% of the global revenue in 2023. Neat-cutting oils are widely used in machining processes across industries, including automotive, aerospace, marine, and construction, due to their effectiveness in cutting operations and high-volume manufacturing. Emerging economies in the Asia Pacific, where high-volume manufacturing is prevalent, have increased demand for neat-cutting oils, which offer a cost-effective solution in machining operations. The demand for neat-cutting oils is further supported by the use of high-alloy steels in heavy equipment manufacturing, which requires robust cutting fluids to optimize machining operations.
The water-cutting oil segment held the second-largest market share in 2023, driven by the increased consumption of these fluids in complex machining operations that require effective heat dissipation. Water-based cutting oils are diluted with water and applied in various procedures, such as drilling, milling, and grinding, to manage the high temperatures generated during machining. The ability of water-cutting oils to control the temperature during these processes makes them ideal for heavy equipment manufacturing.
The semi-synthetic cutting oil segment, a subset of water-cutting oils, is anticipated to grow at a significant CAGR from 2022 to 2030. Semi-synthetic oils are widely used in machining cast iron, aluminum components, and other operations like sawing, drilling, turning, and milling. The expanding applications for these oils are expected to propel the segmentâs growth over the forecast period.
Corrosion-preventive fluids are another critical segment expected to grow steadily over the forecast period. These fluids are essential in machining processes where there is a risk of damaging the tools, as they help extend the lifespan of the sump, reducing overhead costs for manufacturers. Small-scale enterprises, which typically operate with lower production volumes and cost structures, increasingly rely on corrosion-preventive oils to maintain operational efficiency and protect their tools, further driving demand in this segment.
In summary, the MWF market is expected to see steady growth, fueled by the expansion of end-use industries and the increasing need for high-performance fluids that enhance machining efficiency, control temperature, and extend tool life. As manufacturing industries in North America, Europe, and Asia Pacific continue to grow, the demand for various MWF types, from neat-cutting oils to corrosion-preventive fluids, will likely rise, positioning MWFs as a key component in the global manufacturing and automotive industries.
Order a free sample PDFÂ of the Metalworking Fluids Market Intelligence Study, published by Grand View Research.
0 notes
Text
Metalworking Fluids Industry Overview, Competitive Landscape and Forecasts 2030
The global metalworking fluids market size was valued at USD 12.17 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2030. This growth is primarily driven by the rising demand for automotive and heavy machinery across various industries, including machinery manufacturing, metal fabrication, and transportation equipment. These sectors rely on metalworking fluids for their ability to improve the machining and manufacturing process. The primary raw material used in producing MWFs is crude oil, which undergoes refining, treatment, and blending to produce key MWF types such as neat cutting oils, soluble oils, and corrosion-preventive oils. Base oil derived from crude oil represents around 40% of the overall MWF production cost and is essential for the manufacture of motor oils, lubricants, and MWFs.
The growth in the automotive industry is a significant factor boosting MWF demand, as these fluids help reduce friction between the tool and the workpiece, prevent metal chips, ensure high-quality surface finishes, and extend the lifespan of tools. These benefits contribute to more efficient machining processes, enhancing production rates. Consequently, the need for metalworking fluids is expected to remain stable, particularly in automotive applications, over the forecast period.
The manufacturing industry is a key economic sector in North America and Europe. Technological advancements in manufacturing processes for sophisticated products, alongside increased exports of construction machinery, power equipment, agricultural machinery, and automotive equipment, have contributed to the growth of the MWF market in these regions. Additionally, Asia Pacificâs demand for advanced machinery in agriculture, automotive, and construction industries supports MWF market expansion in both North America and Europe, as manufacturers in these regions continue to supply global demand.
Gather more insights about the market drivers, restrains and growth of the Metalworking Fluids Market
Application Segmentation Insights:
The neat-cutting oil segment led the MWF market, accounting for over 42% of the global revenue in 2023. Neat-cutting oils are widely used in machining processes across industries, including automotive, aerospace, marine, and construction, due to their effectiveness in cutting operations and high-volume manufacturing. Emerging economies in the Asia Pacific, where high-volume manufacturing is prevalent, have increased demand for neat-cutting oils, which offer a cost-effective solution in machining operations. The demand for neat-cutting oils is further supported by the use of high-alloy steels in heavy equipment manufacturing, which requires robust cutting fluids to optimize machining operations.
The water-cutting oil segment held the second-largest market share in 2023, driven by the increased consumption of these fluids in complex machining operations that require effective heat dissipation. Water-based cutting oils are diluted with water and applied in various procedures, such as drilling, milling, and grinding, to manage the high temperatures generated during machining. The ability of water-cutting oils to control the temperature during these processes makes them ideal for heavy equipment manufacturing.
The semi-synthetic cutting oil segment, a subset of water-cutting oils, is anticipated to grow at a significant CAGR from 2022 to 2030. Semi-synthetic oils are widely used in machining cast iron, aluminum components, and other operations like sawing, drilling, turning, and milling. The expanding applications for these oils are expected to propel the segmentâs growth over the forecast period.
Corrosion-preventive fluids are another critical segment expected to grow steadily over the forecast period. These fluids are essential in machining processes where there is a risk of damaging the tools, as they help extend the lifespan of the sump, reducing overhead costs for manufacturers. Small-scale enterprises, which typically operate with lower production volumes and cost structures, increasingly rely on corrosion-preventive oils to maintain operational efficiency and protect their tools, further driving demand in this segment.
In summary, the MWF market is expected to see steady growth, fueled by the expansion of end-use industries and the increasing need for high-performance fluids that enhance machining efficiency, control temperature, and extend tool life. As manufacturing industries in North America, Europe, and Asia Pacific continue to grow, the demand for various MWF types, from neat-cutting oils to corrosion-preventive fluids, will likely rise, positioning MWFs as a key component in the global manufacturing and automotive industries.
Order a free sample PDFÂ of the Metalworking Fluids Market Intelligence Study, published by Grand View Research.
0 notes
Text
Greenhouse Film Market Trends and Growth Forecast for 2024
Greenhouse Film Market Growth Strategic Market Overview and Growth Projections
The global greenhouse film market size was valued at USD 5.7 billion in 2022 and is projected to reach USD 8.6 billion by 2031, registering a CAGR of 4.8% during the forecast period (2023-2031).
The latest Global Greenhouse Film Market by straits research provides an in-depth analysis of the Greenhouse Film Market, including its future growth potential and key factors influencing its trajectory. This comprehensive report explores crucial elements driving market expansion, current challenges, competitive landscapes, and emerging opportunities. It delves into significant trends, competitive strategies, and the role of key industry players shaping the global Greenhouse Film Market. Additionally, it provides insight into the regulatory environment, market dynamics, and regional performance, offering a holistic view of the global marketâs landscape through 2032.
Competitive Landscape
Some of the prominent key players operating in the Greenhouse Film Market areÂ
Dupont
SOLVAY
DAIKIN
Dow
Halocarbon LLC
Freudenberg SE
The Chemours Company
Metalubgroup
M&I Materials Limited
Nye Lubricants Inc.
Lubrilog
ECCO Gleittechnik GmbH
HUSK-ITT Corporation
Central Chemie GmbH
IKV Tribology Ltd.
Get Free Request Sample Report @Â https://straitsresearch.com/report/greenhouse-film-market/request-sample
The Greenhouse Film Market Research report delivers comprehensive annual revenue forecasts alongside detailed analysis of sales growth within the market. These projections, developed by seasoned analysts, are grounded in a deep exploration of the latest industry trends. The forecasts offer valuable insights for investors, highlighting key growth opportunities and industry potential. Additionally, the report provides a concise dashboard overview of leading organizations, showcasing their effective marketing strategies, market share, and the most recent advancements in both historical and current market landscapes.Global Greenhouse Film Market: Segmentation
The Greenhouse Film Market segmentation divides the market into multiple sub-segments based on product type, application, and geographical region. This segmentation approach enables more precise regional and country-level forecasts, providing deeper insights into market dynamics and potential growth opportunities within each segment.
By Resin Type
Low-Density Polyethylene (LDPE)
Linear Low-Density Polyethylene (LLDPE)
Ethylene Vinyl Acetate (EVA)
Others
By Thickness
80<200 Microns
200 Microns
>200 Microns
By Functionality
Diffused GHF
Photo-selective GHF
Anti-dirt GHF
Others
By Application
Fruits
Vegetables
Flowers and Ornamentals
Stay ahead of the competition with our in-depth analysis of the market trends!
Buy Now @Â https://straitsresearch.com/buy-now/greenhouse-film-market
Market Highlights:
A company's revenue and the applications market are used by market analysts, data analysts, and others in connected industries to assess product values and regional markets.
But not limited to: reports from corporations, international Organization, and governments; market surveys; relevant industry news.
Examining historical market patterns, making predictions for the year 2022, as well as looking forward to 2032, using CAGRs (compound annual growth rates)
Historical and anticipated data on demand, application, pricing, and market share by country are all included in the study, which focuses on major markets such the United States, Europe, and China.
Apart from that, it sheds light on the primary market forces at work as well as the obstacles, opportunities, and threats that suppliers face. In addition, the worldwide market's leading players are profiled, together with their respective market shares.
Goals of the Study
What is the overall size and scope of the Greenhouse Film Market market?
What are the key trends currently influencing the market landscape?
Who are the primary competitors operating within the Greenhouse Film Market market?
What are the potential growth opportunities for companies in this market?
What are the major challenges or obstacles the market is currently facing?
What demographic segments are primarily targeted in the Greenhouse Film Market market?
What are the prevailing consumer preferences and behaviors within this market?
What are the key market segments, and how do they contribute to the overall market share?
What are the future growth projections for the Greenhouse Film Market market over the next several years?
How do regulatory and legal frameworks influence the market?
About Straits Research
Straits Research is dedicated to providing businesses with the highest quality market research services. With a team of experienced researchers and analysts, we strive to deliver insightful and actionable data that helps our clients make informed decisions about their industry and market. Our customized approach allows us to tailor our research to each client's specific needs and goals, ensuring that they receive the most relevant and valuable insights.
Contact Us
Email:Â [email protected]Â
Tel:Â UK: +44 203 695 0070, USA: +1 646 905 0080
#Greenhouse Film Market Market#Greenhouse Film Market Market Share#Greenhouse Film Market Market Size#Greenhouse Film Market Market Research#Greenhouse Film Market Industry#What is Greenhouse Film Market?
0 notes
Text
Food Grade Lubricants Market Valuation and Trends: From US$ 288.26 Mn in 2023 to Future Projections
Food Grade Lubricants Market size was valued at US$ 288.26Â Mn. in 2023 and the total revenue is expected to grow at 7.6% through 2024 to 2030, reaching nearly US$ 481.36 Mn.
0 notes
Text
Ethylene carbonate, a solvent utilized in Li-ion battery electrolytes, and its relatively high melting temperature of approximately 36°C, serves as an ideal solvent not only in battery technology but also in the production of lubricants, plastics, resins, surface coatings, and various other applications.
0 notes
Text
Metalworking Fluids Market Dynamics, Growth Prospect and Consumption Analysis till 2030
The global metalworking fluids (MWFs) market, valued at USD 12.17 billion in 2023, is projected to grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2030. This growth is expected to be fueled by rising demand for automotive and heavy industry machinery, as well as significant activity in sectors like machinery, metal fabrication, and transportation equipment. These industries are primary drivers of MWF demand, as they rely on these fluids for effective machining and metalworking processes. The production of MWFs involves crude oil as a fundamental raw material. Refined, processed, and blended from crude oil, the base oils in MWFs make up approximately 40% of the total cost of these fluids. Key products like neat cutting oils, soluble oils, and corrosion-preventive oils are developed from this crude oil refining and heating process, which is essential for producing motor oils, lubricants, and MWFs.
The MWF market benefits substantially from the growth of the automotive industry, where MWFs play a critical role in reducing friction between work pieces and tools, removing metal chips, ensuring high surface quality, and extending tool life. This ultimately increases the efficiency and productivity of machining processes, meeting high production demands. Consequently, the demand for MWFs is expected to remain steady as these industries expand.
In North America and Europe, manufacturing is a key sector, driving MWF demand due to advancements in manufacturing techniques for complex products and the high export rate of equipment for construction, power, agriculture, and automotive applications. The strong growth of end-use industries in Asia Pacific also contributes to MWF demand in North America and Europe, as more consumers in Asia Pacific increasingly opt for advanced machinery across sectors like automotive, agriculture, and construction.
Gather more insights about the market drivers, restrains and growth of the Metalworking Fluids Market
The global market is highly competitive, with the big international brands focusing on developing long-term relationships with end-users. With a rise in the manufacturing, automotive, and transportation sectors, the competition is also anticipated to increase in the coming years. Companies such as Houghton International Inc., BP plc, Exxon Mobil Corporation, and Total SA have a high degree of integration across the value chain as they are also engaged in producing various MWFs. These companies have established themselves as key manufacturers and focus on R&D for novel product uses.Â
The metalworking fluid market trend is being driven by increased demand for automotive and heavy industry, as well as the growing preference for lightweight components in high performance applications such as heavy machinery, transportation equipment, automotive and construction.
Product Segmentation Insights:
The mineral-based MWFs segment accounted for the largest market share in 2023, representing over 48.06% of total market revenue. Mineral oils are widely used due to their cost-effectiveness, making them popular among small- and medium-sized manufacturers who prioritize affordability. This trend is expected to support stable growth in mineral oil-based MWFs over the forecast period. Mineral oils find applications in various machining processes, including turning, grinding, broaching, drilling, and milling, due to their basic yet reliable performance characteristics.
On the other hand, synthetic MWFs are expected to experience the highest CAGR during the forecast period. These synthetic fluids offer several advantages, such as extending tool life, improving surface finishes, and minimizing friction, making them highly suitable for precision applications. Synthetic oils also provide benefits like reducing waste and extending sump life, which is critical in large-scale manufacturing. As a result, synthetic MWFs have seen a steady increase in adoption, particularly among large-scale manufacturers, and this growth is projected to continue as demand rises for higher-performance fluids.
In recent years, semi-synthetic MWFs have gained traction in many countries, contributing to the overall penetration of synthetic MWFs. Additionally, the growing concerns over environmental impacts associated with petroleum-based products have led to stringent environmental regulations and government initiatives promoting sustainable alternatives. Consequently, the production of bio-based MWFs has surged, offering a more environmentally friendly option that meets regulatory requirements and aligns with the industry's push toward sustainability.
Order a free sample PDFÂ of the Metalworking Fluids Market Intelligence Study, published by Grand View Research.
#Metalworking Fluids Market Share#Metalworking Fluids Market Trends#Metalworking Fluids Market Growth#Metalworking Fluids Industry
0 notes
Text
Metalworking Fluids Market Analysis by Key Players, Sales Forecast and Supply Demand to 2030
The global metalworking fluids (MWFs) market, valued at USD 12.17 billion in 2023, is projected to grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2030. This growth is expected to be fueled by rising demand for automotive and heavy industry machinery, as well as significant activity in sectors like machinery, metal fabrication, and transportation equipment. These industries are primary drivers of MWF demand, as they rely on these fluids for effective machining and metalworking processes. The production of MWFs involves crude oil as a fundamental raw material. Refined, processed, and blended from crude oil, the base oils in MWFs make up approximately 40% of the total cost of these fluids. Key products like neat cutting oils, soluble oils, and corrosion-preventive oils are developed from this crude oil refining and heating process, which is essential for producing motor oils, lubricants, and MWFs.
The MWF market benefits substantially from the growth of the automotive industry, where MWFs play a critical role in reducing friction between work pieces and tools, removing metal chips, ensuring high surface quality, and extending tool life. This ultimately increases the efficiency and productivity of machining processes, meeting high production demands. Consequently, the demand for MWFs is expected to remain steady as these industries expand.
In North America and Europe, manufacturing is a key sector, driving MWF demand due to advancements in manufacturing techniques for complex products and the high export rate of equipment for construction, power, agriculture, and automotive applications. The strong growth of end-use industries in Asia Pacific also contributes to MWF demand in North America and Europe, as more consumers in Asia Pacific increasingly opt for advanced machinery across sectors like automotive, agriculture, and construction.
Gather more insights about the market drivers, restrains and growth of the Metalworking Fluids Market
The global market is highly competitive, with the big international brands focusing on developing long-term relationships with end-users. With a rise in the manufacturing, automotive, and transportation sectors, the competition is also anticipated to increase in the coming years. Companies such as Houghton International Inc., BP plc, Exxon Mobil Corporation, and Total SA have a high degree of integration across the value chain as they are also engaged in producing various MWFs. These companies have established themselves as key manufacturers and focus on R&D for novel product uses.Â
The metalworking fluid market trend is being driven by increased demand for automotive and heavy industry, as well as the growing preference for lightweight components in high performance applications such as heavy machinery, transportation equipment, automotive and construction.
Product Segmentation Insights:
The mineral-based MWFs segment accounted for the largest market share in 2023, representing over 48.06% of total market revenue. Mineral oils are widely used due to their cost-effectiveness, making them popular among small- and medium-sized manufacturers who prioritize affordability. This trend is expected to support stable growth in mineral oil-based MWFs over the forecast period. Mineral oils find applications in various machining processes, including turning, grinding, broaching, drilling, and milling, due to their basic yet reliable performance characteristics.
On the other hand, synthetic MWFs are expected to experience the highest CAGR during the forecast period. These synthetic fluids offer several advantages, such as extending tool life, improving surface finishes, and minimizing friction, making them highly suitable for precision applications. Synthetic oils also provide benefits like reducing waste and extending sump life, which is critical in large-scale manufacturing. As a result, synthetic MWFs have seen a steady increase in adoption, particularly among large-scale manufacturers, and this growth is projected to continue as demand rises for higher-performance fluids.
In recent years, semi-synthetic MWFs have gained traction in many countries, contributing to the overall penetration of synthetic MWFs. Additionally, the growing concerns over environmental impacts associated with petroleum-based products have led to stringent environmental regulations and government initiatives promoting sustainable alternatives. Consequently, the production of bio-based MWFs has surged, offering a more environmentally friendly option that meets regulatory requirements and aligns with the industry's push toward sustainability.
Order a free sample PDFÂ of the Metalworking Fluids Market Intelligence Study, published by Grand View Research.
#Metalworking Fluids Market Share#Metalworking Fluids Market Trends#Metalworking Fluids Market Growth#Metalworking Fluids Industry
0 notes
Text
Compressor Oil Market - Forecast(2024 - 2030)
Overview
Compressor Oil Market size $9.5 billion in 2023, and the total revenue is expected to grow at a CAGR of 6.6% through 2024 to 2030, reaching nearly $ 21.19 Billion. It Compressor oil offers various properties such as viscosity, chemical stability, dielectric strength & moisture, and others which are expected to grow the demand from end-use industries. These oils are used for lubrication, removal of heat, and for sealing.Â
Sample Request :
Manufacturers are increasingly developing advanced synthetic formulations to meet the evolving requirements of modern compressors, driving the uptake of synthetic compressor oils in various industrial applications. With rising concerns about energy consumption and environmental impact, there is a heightened focus on developing compressor oils that contribute to energy efficiency and environmental sustainability. Manufacturers are innovating with low-viscosity oils and formulations with reduced frictional losses to optimize compressor performance and minimize energy consumption. Additionally, there is a shift towards eco-friendly compressor oil formulations that comply with environmental regulations and promote sustainable practices in industrial operations.
Inquiry Before Buying :
By Base Oil Type: Synthetic Oils (Polyalkylene Glycols (PAGs), Polyalphaolefins (PAOs), Diester and Polyolesters, Phosphate Esters, Silicone Based), Mineral Oil, and Others
By Compressor Type: Positive Displacement Compressor (Rotary Compressor and Reciprocating), Dynamic Compressor (Centrifugal Compressor and Axial Compressor).
By End-Use Industry: Chemical & Petrochemical, Transportation, Food & Beverages, Oil & Gas, Marine, Pharmaceutical, Metal Fabrication, Mining, Energy, and Others.
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, Italy, France, Spain, Netherlands, Russia, Belgium, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, ANZ, Indonesia, Taiwan, Malaysia, and Rest of Asia Pacific), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and RoW (Middle East and Africa)
Key Takeaways
Asia-Pacific region dominated the compressor oil market, due to the high consumption of compressor oil in emerging and developing Asian countries such as India, China, Japan, Malaysia, South Korea, and others.
Growing demand for compressor oil as they help to reduce production cost in various end-use industries such as chemical & petrochemical, oil & gas, and others. According to the American Chemistry Council (ACC), in the United States, chemical exports are expected to grow by US$ 134.5 billion in 2021.
Increasing demand for synthetic lubricants as they have various properties such as anti-oxidation, excellent thermal stability, excellent viscosity index, and others is estimated to growing the compressor oil market size.
Schedule a Call:
Compressor Oil Market Segment Analysisâââby Type
The synthetic oil segment is projected to witness the highest share of 55% in the compressor oil market in 2023 as it comes with excellent properties such as anti-oxidation and thermal stability. Polyalphaolefins synthetic oil can contribute to an extended service life of machine parts at a low cost. Synthetic oil provides outstanding viscosity index, high flash point, low pour point, and excellent hydrolytic stability, thus it is widely required in air compressors especially vane and screw compressors. Furthermore, synthetic lubricant improves the fuel efficiency of machine parts and reduced operating costs. Hence, the consumption of synthetic base oil is estimated to influence the market for compressor oil
Compressor Oil Market Segment AnalysisâââBy Compressor Type
Positive displacement compressor type segment held the largest share of 56% in the compressor oil market in 2023 as they have excellent operational efficiency. Positive displacement compressors capture the volume of air in a chamber. They help to reduce the volume of the chamber to compress the air. This type of compressor uses vanes instead of helical blades on a rotor to compress air that enters the cavity. Positive displacement compressor uses a piston for air compression that moves backward and forward. A rotary compressor is a very required positive displacement air compressor type. It sucks air into the cylinder, then closes the valve, and compresses the air with two rotors. These rotors rotate regularly and run through the chamber. Compressor oils lower the temperature of the operation during the mixture of air and oil. The maximum output of a rotary compressor is mostly 600 horsepower and 1000 horsepower of the reciprocating compressor. Hence, the growing demand for positive displacement compressors is estimated to grow the consumption of compressor oil.
Compressor Oil Market Segment AnalysisâââBy End-Use Industry
Chemical & petrochemical sector held the largest share in the compressor oil market in 2023 and is growing at a CAGR of 4.6% during this forecast period of 2024â2030, as compressor oil increases the service of machine, reduces operational cost & power consumption during operation. Thus, the increasing chemical & petrochemical industry is estimated to grow the consumption of compressor oil. Apart from this, according to the U.S. Energy Information Administration, the total natural gas production is projected to contribute 30% and more than 75% in Canada & Mexico, respectively by 2040. Hence, all factors are estimated to grow the consumption of compressor oil. The use of compressor oils in the chemical and petrochemicals industry is to guarantee the untroubled functioning of the machine parts and also help in minimizing the expenses and increasing the lifetime of the machine.
Buy Now:
By GeographyâââSegment Analysis
Asia Pacific dominated the compressor oil market in 2023 with a share of more than 45%. China and India are expected to witness high demand for compressor oil during the forecast period, with the growing need from the oil & gas industry, automotive industry, chemical & petrochemical industry, and others. Compressor oils provide different advantages such as reduces energy consumption, reduces operational cost, longer life, corrosion resistance, synthetic solvency, and others. Thus, these lubricants are widely consumed by end-use sectors. According to the U.S. Energy Information Administration, the total natural gas production is projected to contribute more than 40% in China by 2040. As compressor oils are used in power transmission to machines and engines, so the increasing automotive industry is also estimated to grow the consumption of compressor oil. Additionally, according to the Association of Automobile Manufacturers, China has become a world leader in the electric bus segment which grows in production of electric buses at 34% by 2025. Hence, such factors are estimated to grow the demand for compressor oil in the region.
For More Details on This ReportâââRequest for Sample
DriversâââThe Compressor Oil Market
Increasing Consumption of Compressor Oil from Automotive Industry
Compressor oil lubricants are used for inflating vehicles, cars, and motorcycle tires. These air compressor oil used to transfer power to the machine and engines. Compressor oil is used in the production cycle of the automotive industry due to its ease of maintenance and reduction in operative costs. Thus, increasing automotive production is estimated to grow the consumption of compressor oil. In 2023, the Australian car market experienced growth despite widely publicized supply issues. A total of 1,081,429 new cars, SUVs, and commercial vehicles were delivered, marking the best result since 2018 when 1,153,111 vehicles were sold. Toyota secured the top spot in annual sales, achieving its best result in 14 years. Mazda followed in second place, while Kia achieved its best-ever result for a third-place finish. Notably, battery electric vehicles accounted for 3.1% of sales, and this trend is expected to continue in 2023 with more affordable models from China entering the market1.
Fast forward to 2023, and the Australian new vehicle market has rebounded significantly in the first half of the year, showing 8.2% growth compared to the same period in 2023. Some interesting developments include, Hence, such factors are expected to grow the compressor oil market size
Growing Demand for Positive Displacement Air Compressor
Positive air compressors such as rotary compressors and reciprocating compressors are widely used as they require a low cost of production. The positive air compressor has a high-pressure ratio, thus it is widely used in refrigerators, chemical plants, automotive cylinders, and hydraulic cylinders. Reciprocating positive displacement air compressors are designed for the double or single chamber, as they use the piston for the constant movement of air in the chamber. Apart from this, rotary compressor such as screw compressor has safety devices that are fully packaged and pre-installed. Hence, as it reduce the production cost, the demand for positive displacement air compressor is estimated to boost from the chemical industry which, in turn, is expected to grow the compressor oil market size.
ChallengesâââCompressor Oil Market
Volatility in Raw Material Prices
Synthetic oils are typically created from chemically modified materials such as petroleum components but the base material is always distilled crude oil. Although polyalphaolefin is produced through a synthetic chemical process that originated from ethylene. Ethylene is produced by cracking crude oil. Hence, fluctuation in crude oil prices may hamper market growth. The U.S. Energy Information Administration (EIA) projected that Brent crude oil prices would average $83 per barrel in 2023, down from $101/b in 2022. This decline was mainly due to expectations of global oil production outpacing consumption. Another forecast indicated that the Brent price would stay relatively flat through the second quarter of 2023, averaging $85/b, and then decline through the end of the year.
Compressor Oil Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Compressor Oil Market. Major players in the Compressor Oil Market are Chevron U.S.A. Inc, Croda International Plc, Eurol, Exxon Mobil Corporation, FUCHS, HP Lubricants, LUKOIL Marine Lubricants DMCC, OMSC, Royal Dutch Shell plc, Sasol and among others.
Developments:
In February 2023, Chevron Shipping Company LLC, a subsidiary of Chevron Corporation, announced an agreement with Sembcorp Marine Repairs & Upgrades Pte. Ltd. to install new technologies to support the energy transition goals and lower carbon footprint of Chevron vessels
For More Information about Compressor Oil Market click here
0 notes
Text
Bio-based Synthetic Lubricants in the Market: Driving Performance and Efficiency
Synthetic lubricants are a type of lubricating oil that is artificially created through chemical processes. They are designed to provide superior performance and offer several advantages over conventional mineral-based lubricants. Unlike mineral oils, which are derived from crude oil through refining processes, synthetic lubricants are formulated by synthesizing chemically engineered base oils and adding specific additives to enhance their performance characteristics. The base oils used in synthetic lubricants are typically made from polyalphaolefins (PAO), esters, polyalkylene glycols (PAG), or other synthesized hydrocarbons.
Gain deeper insights on the market and receive your free copy with TOC now @: Synthetic Lubricants Market Report
Bio-based synthetic lubricants are gaining attention as an alternative to petroleum-based lubricants. These lubricants are derived from renewable resources, such as vegetable oils or animal fats. Bio-based synthetic lubricants offer similar performance characteristics to their petroleum-based counterparts while reducing dependence on fossil fuels and lowering the carbon footprint. Synthetic lubricant manufacturers are focusing on developing specialized solutions for specific industries or applications. This includes lubricants tailored for high-performance racing vehicles, electric vehicles, wind turbines, food-grade applications, and more. These industry-specific lubricants are formulated to address unique requirements and challenges, providing optimal performance and protection. The synthetic lubricants industry has seen collaborations and partnerships between lubricant manufacturers and equipment manufacturers. This collaboration aims to optimize lubricant performance by aligning it with specific equipment requirements. Such partnerships often involve joint research and development efforts to create lubricants that are tailored to the needs of particular machinery or industries.
Moreover, Synthetic lubricants generally have longer service intervals compared to mineral-based lubricants. Their superior oxidation resistance and thermal stability contribute to cleaner engines, extended oil change intervals, and reduced maintenance costs. They are typically more expensive than mineral-based lubricants. The complex manufacturing processes and specialized base oils used in synthetic lubricants contribute to their higher cost. However, their extended service life and improved performance can offset the initial investment. Synthetic lubricants are commonly used in demanding applications, such as high-performance engines, racing vehicles, industrial machinery, and extreme operating conditions. Mineral-based lubricants are widely used in general automotive applications and some industrial applications. Semi-synthetic lubricants find applications in various industries, offering a balance between performance and cost.
#Synthetic Lubricants Market Size & Share#Global Synthetic Lubricants Market#Synthetic Lubricants Market Latest Trends#Synthetic Lubricants Market Growth Forecast#COVID-19 Impacts On Synthetic Lubricants Market#Synthetic Lubricants Market Revenue Value
0 notes
Text
Lubricants Market In-Depth Research On Basis By Application, Region And Forecast To 2030 : Grand View Research Inc.
Lubricants Market In-Depth Research On Basis By Application, Region And Forecast To 2030 : Grand View Research Inc.
San Francisco, 10 Jan 2023: The Report Lubricants Market Size, Share & Trends Analysis Report By Application (Automotive, Marine, Aerospace, Industrial), By Region (Asia Pacific, North America, Europe, MEA, CSA), And Segment Forecasts, 2022 â 2030 The global lubricants market size is estimated to reach USD 180.21 billion by 2030, registering a CAGR of 3.7% over the forecast years, according to aâŠ
View On WordPress
#Lubricants Industry#Lubricants Market#Lubricants Market 2030#Lubricants Market Revenue#Lubricants Market Share#Lubricants Market Size
0 notes
Text
John Cockerill India Secures Major Contract from ArcelorMittal Calvert LLC
John Cockerill India Limited has recently announced a significant milestone in its journey as a leading player in the engineering sector by securing a major contract valued at âč103 crores. This contract has been awarded by ArcelorMittal Calvert LLC, one of the largest steel manufacturing companies globally. The contract has been assigned to John Cockerill India by its international subsidiary, John Cockerill Industry North America Inc., which operates as a fellow subsidiary within the John Cockerill group. This transaction exemplifies the company's expanding footprint in international markets and reinforces its commitment to delivering high-quality engineering services.
Nature of the Contract
The contract encompasses a comprehensive scope of services, including the overall detailed engineering of an Annealing and Pickling Line. This includes the supply of terminal equipment, pre-assembly of refractory materials, the supply of annealing furnaces, and the provision of associated hydraulic and lubrication systems. The execution of this contract will ensure that the new CCL (Cold Coiling Line) is operational by the end of September 2027. This timeline underscores the urgency and importance of this project in enhancing production capabilities for ArcelorMittal.
The international nature of this contract highlights the growing collaboration between Indian companies and global entities, showcasing the expertise and reliability of Indian engineering firms on a worldwide platform. Such contracts not only contribute to the revenue growth of the companies involved but also foster international business relationships that can lead to future opportunities.
Get More Info :Â IPO GMP Today
IPO Subscription Status
SME IPO GMP Today
Upcoming IPO GMP
IPO News
IPO Premium
0 notes
Text
Dry Lubricants Market to Hit $ 813.78 Million by 2032
The global Dry Lubricants Market was valued at USD 755.42 Million in 2024 and it is estimated to garner USD 813.78 Million by 2032 with a registered CAGR of 1.2% during the forecast period 2024 to 2032.
Are you looking for the Dry Lubricants Market Research Report? You are at the right place. If you desire to find out more data about the report or want customization, Contact us. If you want any unique requirements, please allow us to customize and we will offer you the report as you want.
The global Dry Lubricants Market can be segmented on the basis of product type, Applications, distribution channel, market value, volume, and region [North America, Europe, Asia Pacific, Latin America, Middle East, and Africa]. The Dry Lubricants Industry 2024 report provides a comprehensive overview of critical elements of the industry including drivers, restraints, and management scenarios.
Download Sample PDF: @Â https://www.vantagemarketresearch.com/dry-lubricants-market-0250/request-sample
Top Players
Metal Coatings Corp, DuPont, Henkel, Sun Coating Company, Slickote Coatings, Castrol-Lubecon, Everlube, CHP, Sandstrom, Freudenberg(OSK), Surcom Industries(DYNACRON), B'laster, SKF, Everlube, Dow Corning, 3M, Kal-Gard F.A.
Trending 2024: Dry Lubricants Market Report Highlights:
A comprehensive assessment of the parent Industry
Development of key aspects of the business
A study of industry-wide market segments
Evaluation of market value and volume in past, present, and future years
Evaluation of market share
Tactical approaches of market leaders
Innovative strategies that help companies to improve their position in the market
You Can Buy This Report From Here:Â https://www.vantagemarketresearch.com/buy-now/dry-lubricants-market-0250/0
Analysis Of The Top Companies, Product Types, and Applications In The Market Report:
This report provides sales, revenue growth rate, and verified information about the major players. Also includes a regional analysis and a labor cost analysis, tables, and figures. It also highlights characteristics such as technological growth. The product type segment is expected to continue to maintain its leading position in the future and capture a significant market share based on sales. This report provides analysis, discussion, forecast, and debate on key industry trends, market share estimates, Industry size, and other information. This report also discusses drivers, risks, and opportunities.
Global Dry Lubricants Market report contains detailed data and analysis on the Dry Lubricants Market drivers, restraints, and opportunities. Experts with market and industry knowledge as well as research experience from regional experts validate the report. The Dry Lubricants Market report provides forecast, historical and current revenue for each industry, region, and end-user segment.
Regions Included
-North America [United States, Canada, Mexico]
-South America [Brazil, Argentina, Columbia, Chile, Peru]
-Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
-Middle East & Africa [GCC, North Africa, South Africa]
-Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
Global Dry Lubricants Market report data will help you make more informed decisions. For example, in relation to prices, distribution channels are means of marketing or identifying opportunities to introduce a new product or service. These results will also help you make more informed decisions about your existing operations and activities.
Read Full Research Report with [TOC] @Â https://www.vantagemarketresearch.com/industry-report/dry-lubricants-market-0250
You Can Use The Dry Lubricants Market Report To Answer The Following Questions:
What are the growth prospects of the Dry Lubricants Market business?
Who are the key manufacturers in the Dry Lubricants Market space?
What Forecast Period for Global Dry Lubricants Industry Report?
What are the main segments of the global Dry Lubricants Market?
What are the key metrics like opportunities and market drivers?
The Dry Lubricants Market Insights
Product Development/Innovation: Detailed Information On Upcoming Technologies, R&D Activities, And Product Launches In The Market.
Competitive Assessment: In-Depth Assessment Of Market Strategies, Geographic And Business Segments Of Key Market Players.
Market Development: Comprehensive Information On Emerging Markets. This Report Analyzes The Market For Different Segments In Different Regions.
Market Diversification: Comprehensive Information On New Products, Untapped Regions, Latest Developments, And Investments In The Dry Lubricants Market.
Check Out More Reports
Global Photovoltaic Inverter Market : Report Forecast by 2032
Global Brake Friction Market: Report Forecast by 2032
Global Marché des brosses à dents: Report Forecast by 2032
Global Automotive Side shafts Market: Report Forecast by 2032
Global Humanoid Robot Market: Report Forecast by 2032
#Dry Lubricants Market#Dry Lubricants Market 2024#Global Dry Lubricants Market#Dry Lubricants Market outlook#Dry Lubricants Market Trend#Dry Lubricants Market Size & Share#Dry Lubricants Market Forecast#Dry Lubricants Market Demand#Dry Lubricants Market sales & price
0 notes
Text
The Future of Automotive Mechanical Oil Pumps: Innovations and Challenges
Market Overview
The automotive mechanical oil pump market will generate an estimated revenue of USD 18.2 billion in 2024, and it is expected to witness a CAGR of 2.3% during 2024â2030, to reach USD 20.9 billion by 2030. The growth is attributed to increasing demand of passenger and commercial vehicles in the global market under the stringent emission standards. Optimal performance and efficiency of the engine are crucial, and this is why mechanical oil pumps are important.
There is need to improve the fuel economy that at the same time will lower the running cost while at the same time extending the period between major engine overhauls hence lowering maintenance costs. Higher consumption of efficient cars, higher cost of fuel, and the increased standard of emissions are the recent trends that have shaped the global automotive industry.
As a result, many nations are donating the equipment for the installation of oil pumps that further contribute to the durability of the car. Used in every automotive engine, the automatic oil pump assists in starting and stopping the car, and in maintaining the oil pressure the pistons provide while it lubricates the various parts of the engine. They are both aimed at raising the fuel economy of the car in question.
The increase in the production of ICE and other hybrid electric vehicles is a major factor influencing the automotive mechanical oil pump market, as these are one of the several parts of the lubrication system. With the increasing consumption of automobiles, mechanical oil pumps are bought by the OEMs for fitment during automobile manufacturing.
Key Insights
Wet sump category holds a larger market share of 65% in 2024.
Commonly used in smaller engines with minimal lubrication needs and lower power consumption.
Preferred in most automotive engines due to simplicity, cost-effectiveness, low weight, and minimal maintenance.
Passenger vehicles category accounts for the largest share of 40% in 2024.
Higher production volume to meet increasing demand for personal mobility worldwide.
Gasoline category dominates the market in 2024 with around 50% share.
Requires less-frequent servicing compared to diesel engines and is cost-effective.
Depend heavily on mechanical oil pumps for lubrication and cooling.
Hybrid category is expected to be the faster-growing category with a CAGR of 3.7% during 2024â2030.
Growth driven by environmental concerns and regulations against pure-ICE vehicles.
EV sales are rising, but high costs and inadequate charging infrastructure push HEV/PHEV sales, offering benefits of both ICEs and BEVs.
Vane category is expected to witness the highest CAGR of 2.6% during 2024â2030.
Vane pumps, known as surface tension pumps, enhance fluid velocity and handle less-viscous fluids at high pressures better than gear pumps.
OEMs hold a larger share of 70% in 2024.
Growth driven by demand for mechanical oil pumps integrated into vehicles during manufacturing.
OEMs provide better parts compared to the aftermarket, ensuring efficient lubrication and reduced fuel consumption to meet emission regulations.
APAC holds the largest revenue share of 45% in 2024 and is expected to develop at the highest CAGR of 2.7% from 2024 to 2030.
Growth driven by the expanding automotive sector in regional developing countries.
Strict emission regulations in APAC improve air quality and resolve environmental issues.
Mechanical oil pumps help reduce friction, increase efficiency, and optimize engine lubrication.
In India, the automotive industry produced 25.93 million vehicles in FY2023.
Contributed 8% of the countryâs exports and 7.1% of Indiaâs GDP.
Includes three-wheelers, two-wheelers, passenger vehicles, commercial vehicles, and quadricycles.
Source: P&S Intelligence
#Automotive Mechanical Oil Pump Market Share#Automotive Mechanical Oil Pump Market Size#Automotive Mechanical Oil Pump Market Growth#Automotive Mechanical Oil Pump Market Applications#Automotive Mechanical Oil Pump Market Trends
1 note
·
View note