Automatic lubrication systems have been witnessing steady growth in their adoption in the global industrial landscape. Manufacturing companies are choosing automatic lubrication systems as they help in increasing the efficiency, performance, and service life of machines. The automatic lubrication system market is expected to be worth USD 958.5 million by 2023, at a CAGR of 4.5% between 2018 and 2023.
According to the new market research report “Automatic Lubrication System Market by Lubrication Type (Grease, Oil), System Type (Single-Line, Dual-Line, Multi-Line, Series Progressive, Circulating Oil, Oil & Air), Industry (Steel, Manufacturing, Cement), and Region – Global Forecast to 2023″, the automatic lubrication system market is expected to grow from USD 769.4 million in 2018 to reach USD 958.5 million by 2023, at a CAGR of 4.5% between 2018 and 2023. Factors such as reduction in machine downtime associated with manual lubrication, effective lubrication with automatic lubrication systems, increasing focus on worker safety, and rising labor costs are driving the automatic lubrication system market.
Key players-SKF (Sweden), Graco (US), BAIER + KOEPPEL (Germany), Timken (US), and Bijur Delimon (US)—in the automatic lubrication system market are focusing on product launch and development, expansion, acquisition, and contract strategies to enhance their product offerings and expand their business globally.
SKF is a key player in the automatic lubrication system market. With over 100 years of experience in asset management solutions, the company designs lubrication systems as per the requirement of different types of equipment and machines. The company’s technology platforms and products cater to over 40 industries, including aerospace, agriculture, construction, machine tools, marine, mining and mineral processing, and oil & gas. In recent years, SKF has adopted the product launch strategy to strengthen its leadership position in the automatic lubrication system market. For instance, in September 2017, the company launched the industry’s first nonmetallic metering device named Series 310. The device is made from a high-performance PA66 resin and offers reliable operations for a minimum of 400,000 lubrication cycles.
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Graco is one of the leading manufacturers of automatic lubrication systems. The company primarily focuses on forming strong partnerships with its customers and distributors to offer its innovative products around the world. In the past 3 years, Graco has invested more than 4% of its annual revenue in product development activities. Such huge investment in R&D has made Graco a global leader in the design and development of highly engineered systems for various industrial applications. With the help of a dynamic R&D establishment, Graco has launched innovative products in the automatic lubrication system market. For instance, in July 2017, Graco launched an electric grease jockey automatic lubrication system. The system features a new lubrication pump with integrated controls that provide system health status, low-level alerts, and motor burnout protection. The new grease jockey system is ideal for harsh conditions of the trucking and fleet industry.
BAIER + KOEPPEL has been designing and selling high-quality automatic lubrication systems since 1927. The company credits its success in the automatic lubrication system market to its strong emphasis on R&D activities and continuous improvements in product offerings. BAIER + KOEPPEL employs 10% of its total workforce in the R&D department to focus on customer-centric lubrication solutions. Quality and environmental protection are the 2 main policies followed by the company. BAIER + KOEPPEL is certified with DIN EN ISO 9001:2008 for its quality management and DIN EN ISO 14001 for its environmental policies.
Other companies in the automatic lubrication system market are Samoa (Spain), Klueber Lubrication (Germany), Perma-tec (Germany), Woerner (Germany), and Dropsa (Italy).
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