Lubrication systems are one of the most important parts of any machine, be it heavy machinery or vehicles. Any machine with moving parts generates heat as a result of friction between the moving parts. This heat has to be dissipated from the machine, since the machine’s efficiency can be significantly lowered by buildup of excess heat. Lubrication systems, which absorb the excess heat perform this vital task in any machine.
Lubrication systems are used in virtually every kind of machinery and thus find widespread application across several industrial verticals. The automotive industry, naturally, is a leading end user of lubrication systems. Vehicle engines create massive amounts of heat during their normal function and lubrication systems are crucial lest the engine gets damaged. Due to the growing automotive industry all over the world, the global lubrication systems market, which was already worth more than US$4 billion in 2013, is expected to grow by close to US$1 billion by 2022, estimated to end up with a total valuation of US$5.28 billion.
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Wet Sump Lubrication Benefits from Demand from Automotive Industry
Two types of lubrication systems dominate the global lubrication systems market: Dry sump and wet sump. Of these two, wet sump lubrication systems are overwhelmingly favored by automotive manufacturers. Dry sump lubrication systems help enhance the vehicle’s performance but are more expensive; as a result, more than 90% of all passenger vehicles use wet sump lubrication systems.
Growing demand for passenger vehicles from the rising economies of Asia Pacific and Latin America is a major growth driver for the global lubrication systems and is expected to have a favorable impact on the market in the coming years.
Since dry sump lubrication systems help enhance the performance of a vehicle, they are mostly used in racing vehicles, which don’t have to follow emission or noise limits. Even in racing, though, many racing motorcycles use wet sump lubrication systems, further bolstering its dominance in the global lubrication systems market.
Dry sump lubrication systems are also used in other end-use segments of the lubrication systems market, such as the steel industry, construction industry, etc.
Demand from Automotive Industry also Helps Demand for Automated Lubrication Systems
Like wet sump lubrication systems, an overwhelming majority of lubrication systems used in modern vehicles are automated or centralized. In contrast to manual lubrication systems, which are mostly used in small-scale domestic uses, automated lubrication systems don’t require monitoring, and are thus widely favored across the industrial sector.
Automation of lubrication systems also makes them more reliable and ensures uniform lubrication, which is not always guaranteed in manual lubrication. As a result, automated lubrication systems are also widely in the construction, steel, marine, aviation, hydrocarbon, and mining and mineral processing industries.
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Fragmented Lubrication Systems Market Led by Graco Inc., Lube Corporation
Due to the ever-present demand for lubrication systems in various industries, the global lubrication systems market can accommodate several competitors, usually specializing in a particular niche. The fragmented lubrication systems market is led by Graco Inc., Lube Corporation, SKF AB, Sloan Lubrication Systems, Groeneveld Groep B.V., and Bijur Delimon.