Pune, India -- (SBWIRE) -- 03/14/2018 -- The Global Mining Lubricants Market accounted for USD 1.97 billion in 2016 and is projected to grow at a CAGR of 4.6% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Global Mining Lubricants Market by Type (Mineral Oil, Synthetic Lubricants) Equipment Function (Engine, Transmission, Gear, Hydraulic) Mining Technique (Surface, Underground) End Use (Coal Mining, Iron Ore Mining, Rare Earth Mineral Mining, Precious Metals Mining, Bauxite Mining) Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East & Africa) – Industry Trends and Forecast to 2024
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- Royal Dutch Shell PLC,
- Chevron Corporation,
- BP p.l.c.,
- Exxon Mobil Corporation,
- Quaker Chemical Corporation,
- Kluber Lubrication,
- Bel-Ray Company, LLC, FUCHS,
- Sinopec Limited,
- Idemitsu Kosan Co., Ltd.,
- Schaeffer Manufacturing Co. and PetroChina Company Limited
- among others.
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Mining lubricants play an effective role in both surface as well as underground mining as it has direct impact on the operation. A good quality mining lubricants can increase machine's life and also reduces maintenance costs. This can be used in coal mining, iron ore mining, rare earth mineral mining, precious metals mining and bauxite mining.
Major Market Drivers:
- Increasing demand of mining lubricants
- Growth in mining equipment
- Increasing investment in the mining industries
- Strict government regulation due to environment protection
The global mining lubricants market is consolidated due to the presence of limited number of players concentrated in few countries. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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On the basis of type:- Mineral oil and synthetic lubricants.
On the basis of equipment function:- Engine, transmission, gear and hydraulic.
On the basis of source:- Vegetable oils, soaps, bio diesel and synthetic.
On the basis of end use:- Coal mining, iron ore mining, rare earth mineral mining, precious metals mining and bauxite mining.
On the basis of geography:-The global mining lubricants market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa.
Key Questions Answered in Global Mining Lubricants Market Report:-
What will the market growth rate, Overview and Analysis by Type of Global Mining Lubricants Market in 2024?
What are the key factors driving, Analysis by Applications and Global Mining Lubricants Market?
What are Dynamics, This Overview Includes Analysis of Scope, and price analysis of top Vendors Profiles of Global Mining Lubricants Market?
Who are Opportunities, Risk and Driving Force of Global Mining Lubricants Market?
Who are the opportunities and threats faced by the vendors in Global Mining Lubricants Market?
What are the Global Mining Lubricants Market opportunities, market risk and market overview of the Market?
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