The
global Industrial Lubricants
Market size is expected to reach USD 71.73 billion by 2025
registering a CAGR of 4.5%, according to a new report by Grand View Research,
Inc. Improving PMI indices across the globe and resultant rise in production
capacities are anticipated to boost the demand for industrial lubricants.
Moreover, rising manufacturing activities are touted to spur investments in
production machinery, thereby creating a strong growth potential for industrial
lubricants.
Further key findings from the study suggest:
High
consumption of general industrial oils generate significant revenue attributing
to the growth of industrial lubricants market. Related industries, such as
chemicals, unconventional energy and mining, are slated to witness considerable
growth. This trend is anticipated to further boost the product demand in
compressors, industrial engines, hydraulics, centrifuges, and bearings.
Companies are investing heavily in R&D for the development of innovative
products to gain competitive edge in the industry. There has been a shift in
trend towards use of bio-based raw materials due to rising awareness regarding
the need for emission reduction and energy conservation.
Browse
Details of Report @
https://www.grandviewresearch.com/industry-analysis/industrial-lubricants-market
https://www.grandviewresearch.com/industry-analysis/industrial-lubricants-market
Further key findings from the study suggest:
- Product demand in Europe
is expected to grow at a CAGR of 2.8% over the forecast period owing to
increasing industrial activities along with modernization of industrial
machinery
- Saudi Arabia accounts for
a major share of the global oil reserves. Heavy investments in education
& infrastructure development by the government to reduce unemployment
will have a positive impact on the regional market
- Companies have undertaken
strategies, such as mergers and acquisition, to enhance their product
offerings and strengthen regional presence
- Manufacturers of
industrial lubricants market are aiming to achieve optimum business growth
by implementing other strategies including joint venture, capacity
expansion, product development, and R&D investments
About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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