Automatic Lubrication System Market Worth 958.5 Million USD by 2023

PUNE, India, June 22, 2018 /PRNewswire/ --

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", published by MarketsandMarkets™, the 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.

     (Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg )

Browse 67 market data Tables and 53 Figures spread through 146 Pages and in-depth TOC on "Automatic Lubrication System Market - Global Forecast to 2023"

https://www.marketsandmarkets.com/Market-Reports/automatic-lubrication-system-market-53306731.html

Early buyers will receive 10% customization on this report 

Grease-based lubrication system to hold largest share of automatic lubrication system market between 2018 and 2023 

Grease-based lubrication systems mainly find application in heavy-duty bearing lubrication applications. Grease-based automatic lubrication systems are ideal for machines and equipment that require infrequent lubrication and work under heavy load at slow speed. Furthermore, the rugged nature of grease-based lubricants also makes them ideal for harsh working conditions, making them the preferred choice for most machines and equipment.

Single-line lubrication system to hold largest market share during forecast period 

Single-line lubrication system is expected to hold the largest share of the market between 2018 and 2023. Single-line lubrication systems are the easiest to operate and maintain. These systems are designed for low-pressure oil lubrication and can lubricate up to 100 points. Single-line automatic lubrication systems are ideal for compact and medium-sized machines and equipment with closely configured bearing clusters. One of the important features of a single-line lubrication system is that it continues to operate even if any lubrication point is blocked. Easy installation, ease of expansion, and suitability for all kinds of lubricants are some of the main advantages of using single-line automatic lubrication systems.