The lubricants & greases category is anticipated to grow at a CAGR of 4.0% from 2023 to 2030.
Lubricants & Greases Category Overview
The lubricants & greases category is anticipated to grow at a CAGR of 4.0% from 2023 to 2030. The growth is attributed to the rising trade of vehicles & spare parts and the demand for automotive oils. There is a significant increase in the utilization of eco-friendly industrial lubricants & greases due to rising environmental awareness which has resulted in the need of more energy-conserving and green industrial solutions. These solutions are made using organic, and biodegradable ingredients and they offer premium protection that increases the life of machinery and reduces waste. Additionally, determining the correct ISO viscosity grade and viscosity index while choosing industrial lubricants is also crucial as it is used to measure the stability, and flow resistance of the lubricants.
As the popularity of electric and hybrid vehicles continues to rise, there is a growing demand for lubricants that can minimize wear and protect vehicle electronics. The advancements in hybrid and electric car technology have led to new requirements for lubricants, such as enhanced fluidic performance, as well as improved electrical and thermal properties. However, achieving high performance and reliability in lubricants while maintaining the energy efficiency of electric and hybrid vehicles poses a significant challenge. This has spurred a need for extensive research to develop advanced lubricants that can enhance the energy efficiency of these vehicles.
Order your copy of the Lubricants & Greases Procurement Intelligence Report, 2023 – 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis
Advancements in lubricant technology such as nanotechnology show enhancements in lubricant attributes such as thermal properties, and anti-oxidation capabilities. Nanotechnology increases the performance of lubricating oil by using nanosized additives. Mixing nanoparticles with conventional base oil can improve wear resistance and resistance in instruments. Additionally, due to the environmental impact of petroleum-based products, companies are turning their focus towards bio-based lubricants as a sustainable alternative. These lubricants are made from renewable resources including animal fats or plant-based oils, making oils less harmful to the environment. For instance, in April 2022, Eneos Corp. announced that it plans to produce biobased greases and lubricants made with its base oil derived from vegetables.
The automotive sector is one of the major contributors to lubricants globally. They are majorly used in automobile parts, especially in engines and brakes which utilize lubrication for continuous smooth functioning. China, Japan, and India are among the top automotive-producing countries. For instance, in 2022, China produced 23.8 million cars, and 3.2 million commercial vehicles. Whereas Japan produced 6.6 million cars and 1.3 million commercial vehicles in 2022. Similarly, India produced 1.01 million commercial vehicles and 4.4 million cars in the same year. The rising production of vehicles in these as well as other countries is anticipated to drive the demand for lubricants used in the manufacturing of the vehicles.
Pulsarlube single-point automatic lubricators are employed across diverse applications, including the lubrication of bearings, fans, chains, electric motors, slides, and guide-ways. These systems represent a category of automated grease dispensing solutions prevalent in today’s industry. By delivering a precise and controlled supply of lubricant to specific points, they contribute to minimizing operating expenses and prolonging equipment lifespan.
Order Your Sample Copy of the Lubricants & Greases Procurement Intelligence Report, 2023 – 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)
Lubricants & Greases Procurement Intelligence Report Scope
The Lubricants & Greases category is expected to have pricing growth outlook of 4% – 5% (annual) from 2023 to 2030, with below pricing models.
Supplier Selection Scope
Supplier Selection Criteria
Medical Writing Procurement Intelligence Report Coverage
Grand View Research will cover the following aspects in the report:
Lubricants & Greases Procurement Cost and Supplier Intelligence
The category is fragmented in nature due to intense competition among the players trying to serve each customer and reach across the globe. The industry is rapidly evolving, with companies adapting their product offerings to meet the constantly changing demands of industrial and automotive applications. For instance, in 2023 TotalEnergies introduced water-based lubricants (WBL) that represent a groundbreaking development for electric vehicle lubrication. These WBLs are designed to serve as a single fluid solution for both lubricating and cooling the Electric Drive Unit (EDU), marking a significant advancement in electric vehicle lubrication technology.
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