Mining Lubricants Market Widening Scope, Analysis And Forecasts To 2025Posted by Neha Bora on November 1st, 2019 San Francisco, 1 November 2019: The Report Mining Lubricants Market Analysis By Type (Mineral Oil, Synthetic & Bio-Based Lubricants), By Application (Coal Mining, Iron Ore Mining, Bauxite Mining, Precious Metal Mining), By Region & Segment Forecasts, 2018 – 2025 The global mining lubricants market is expected to attain USD 3.09 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 4.6% over the forecast period, owing to rising demand for mining lubricants as it helps in reducing the downtime due to frequent oil changes, maintenance and components failures as well as economizing high cost of equipmentwill propel industry expansion over the forecast period. Growth of drilling and exploration activities on a global level, as well as increased demand for mining equipment has a direct and positive impact on mining lubricants demand. In addition, Stringent regulations imposed by government bodies towards environment protection are anticipated to augment the demand for bio-based lubricants. Automatic lubrication systems provide an exact amount of lubricants including oil or grease to moving parts such as bearings to reduce friction and wear. The market for automatic lubrication systems is anticipated to fuel the demand for mining lubricants as the companies are taking various initiatives to increase their presence in the market owning to better labelling and appropriate specifications of their synthetic lubricants. Iron ore mining accounted for 23.5% of the overall share in 2016 and is likely to witness substantial growth as a result of increased demand for steel in developing nations mainly China and India as well as dependence on steel for construction and transportation purposes. Access Research Report of Mining Lubricants Market @ https://www.grandviewresearch.com/industry-analysis/mining-lubricants-market Further key findings from the report suggest:
Grand View Research has segmented the mining lubricants market on the basis of product, application, and region: Mining Lubricants Product Outlook (Volume, Revenue, USD Million, 2014 - 2025)
Mining Lubricants Application Outlook (Volume, Revenue, USD Million, 2014 - 2025)
Mining Lubricants Regional Outlook (Volume, Revenue, USD Million, 2014 - 2025)
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