Asia Pacific Manual Lubrication Management System Market

Market Overview

The Asia Pacific manual lubrication management system market share witnessed significant growth in the past and is expected to grow at a CAGR of 3.6% during the forecast period (2024-2032). The Asia Pacific manual lubrication management system market is driven by significant pulp and paper industry growth. Limited associated with the product acts as a restraint for this market. On the other hand, expanding industrialization in developing regions is an opportunity for the manual lubrication management system market.

An essential component of continuing equipment maintenance is lubrication management. The durability of the equipment is strengthened, and downtime is decreased by proper component lubrication. Both manual and automatic lubrication methods are available for industrial machinery. A manual lubrication management system requires an oil cup or grease fitting and a portable pump. Lubricant is applied by connecting the pump tube to the fitting and injecting a predetermined amount of lubricant into the friction spots through tubing or drilled passages.

Market Dynamics

Market Drivers

Significant Growth of the Pulp and Paper Industry

As more machines are needed in pulp and paper operations than in other sectors, the use of lubrication management systems is high in this sector. The intricate equipment includes the Yankee dryer for producing tissues, the corrugated roller bearing for producing cardboard, and the soot blower for producing pulp. When paper is made, the pulp is heated to a high temperature and cooked in water at the wet end, which results in a steamy, humid, and extremely hot environment. High temperatures are also used in the dry production stage, where paper is made by heating, ironing, and drying the result. These facilities use manual lubrication systems to handle the harsh effects of moisture, high loads, variable speeds, and high temperatures in the dry portion.

Additionally, good lubrication systems aid in boosting their production and cost-effectiveness. The pulp and paper sector is expected to expand rapidly across all regions, and the need for creative packaging to improve product display on shelves will likely increase. Paper and board production was about 412.5 million tons worldwide in 2019, which is anticipated to increase significantly.

Market Restraints

Limited Associated with the Product

Manual lubrication management systems have historically been widely utilized in the industrial sector. However, some drawbacks of manual systems have led many industries to move from manual to automated lubrication management systems. In industries where ideal lubrication is required to ensure efficient operation processes, less downtime, and lower maintenance costs, manual lubrication systems do not guarantee the right amount of lubricant at the right time and place, posing serious risks. The likelihood of bearing failures rises when lubrication is insufficient. Improper lubrication is to blame for more than 50% of bearing failures. Companies increasingly focus on automatic manual lubrication management systems rather than manual solutions to reduce maintenance costs and increase cost-effectiveness.

Market Opportunities

Expanding Industrialization in the Developing Regions

Significant expansion of important end-use industries in developing nations, including food and beverage, oil and gas, construction, automotive, and others, is projected to increase demand for manual lubrication management systems. Product consumption is projected to increase as the construction industry expands and spends more on residential construction projects. Per capita, disposable income is rising, and living standards are altering. Additionally, rising investment in offshore oil and gas drilling operations to satisfy rising oil and gas demand from important end-use sectors is projected to promote market expansion. Additionally, growing demand for packaged food goods in developing countries due to convenience, an increase in the working population, and higher per capita disposable income are projected to fuel the expansion of the food and beverage industry and raise product demand.

Regional Analysis

The Asia Pacific manual lubrication management system market is segmented based on the country into China, India, Japan, South Korea, Australia, and the Rest of Asia-Pacific. China dominates the country market and is expected to grow at a CAGR of 3.8% during the forecast period.

In 2020, the Asia-Pacific market held the greatest market share and was projected to grow at a CAGR of 3.63%. In the Asia-Pacific area, China led the manual lubricant management system. Steel, building, transportation, and mining are end-use industries contributing to the country's growth. During the review period, there will be an increase in per capita disposable income due to growing urbanization, expanding industrialization, and rising per capita income in developing nations like India, South Korea, Malaysia, and Vietnam.

Additionally, rising residential building development activities and supportive government programs foster a strong supply and demand for cement. Additionally, the demand for the product is projected to increase significantly over the review period due to the industry's major growth and the increasing need for steel from end-use industries, including the construction, automotive, and marine sectors.

Segmental Analysis

The Asia Pacific manual lubrication management system market is segmented based on Component, End-Use, and Country.

Based on Components, the market is segmented into Storage Systems, Lubricant Handling Containers, and Distribution Tools.

Storage System dominated the market and is expected to register a CAGR of 3.9% over the forecast period. Proper storage of lubricating oils and greases is essential for avoiding wasteful contamination, deterioration, and disposal. There is a high need for storage systems since lubricants degrade when exposed to extreme temperatures. Lubricant storage systems preserve lubricants in an orderly fashion and shield them from debris. In addition, these setups stop oils from getting mixed up. Lubricants can be stored in bulk in oil storage containers and stacked on a rack to save room. Manual lubrication storage systems are being developed to accommodate the growing need for customized tube lube rooms.

Based on End-Use, the market is segmented into Food and Beverage, Oil and Gas, Paper and Pulp, Steel, Transportation, Power Generation, Cement, Construction, and Others.

Steel dominated the market and is expected to register a CAGR of 3.7% over the forecast period. The apparatus used in the cement industry must withstand harsh conditions while also meeting high production demands. Manual lubrication management systems are utilized for various applications in the cement industry, including Electric Motors, Conveyor Bearings, Idlers, Gearboxes, Pinion and Bull Gears, Open Gears, and Rotary Kilns. The cement industry is highly energy-intensive in that equipment is subjected to extreme loading, high temperatures, and high contamination while operating around the clock.

Recent Developments

• May 2023-Specialised Force Pty Ltd announced that $5 million in Series A funding had been secured. The money will enable Specialised Force to broaden its product offering and penetrate new markets.