The Europe manual lubrication management system market share witnessed significant growth in the past and is expected to grow at a CAGR of 2.7% during the forecast period (2024-2032). The Europe manual lubrication management system market is driven by widespread product adoption in cement. Limited associated with the product acts as a restraint for this market. On the other hand, the growing power generation sector 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. An oil cup or grease fitting and a portable pump are required for a manual lubrication management system. 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.
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Widespread Product Adoption in Cement
Another important area that needs constant lubrication under extremely high temperatures and pressures is the cement industry. The demand for cement increases by growing construction activity in the residential and commercial sectors and road infrastructure projects. In addition, rising purchasing power encourages more residential projects in China and India, further expanding construction activities and raising cement consumption. In addition, rising urbanization causes cities to grow steadily, which is thought to help the cement industry grow. The estimated global cement production for 2021 was 4.1 billion tons, which is anticipated to expand rapidly in the coming years. The cement manufacturing facilities operate continuously with few breaks to increase production while lowering costs and gaining a high-profit margin. Any technical problems and equipment breakdowns brought on by inadequate lubrication may impact cement production as a whole. The machinery used in cement factories must survive harsh environments while fulfilling high-output needs.
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.
Growing Power Generation Sector
Power plants are the backbone of society, as electricity is required in almost all residential and industrial sectors. Energy from both renewable and non-renewable sources is typically used in power generation. Electricity distribution plants are used in this sector to transmit and distribute the power produced using hydro, wind, etc. The rising electricity demand has accelerated power generation efforts. When the machinery employed is suitably lubricated, the smooth production and distribution of power without any loss is achievable. Therefore, the power generation industry relies on manual lubrication management systems to experience lower losses while maintaining high productivity. To maintain efficient power transmission, lubrication is necessary for various machine components, including compressor bearings, gas turbine bearings, generator bearings, thrust bearings, etc. Tighter budgets, challenging operational environments, stringent environmental goals, and punitive penalties for supply disruption and reductions exacerbate the demand for lubrication in power plants.
The Europe manual lubrication management system market is segmented based on the country into the U.K., Germany, France, Spain, Italy, and the Rest of Europe. Germany dominates the country market and is expected to grow at a CAGR of 3.2% during the forecast period.
The value of the European market's share, which was 20.55% in 2020, is predicted to rise to USD 310.64 million by the end of the study period.
Strong chemical processing industries, expanding oil and gas drilling in Russia, and a strong automotive base contribute to the region's prosperity. The demand for manual lubrication management systems is increased by growing mining activity in nations like Russia. Germany's established transportation sector and emphasis on fuel-efficient automobiles drive product demand. Market expansion is anticipated to be fueled by rising construction activities in Eastern European nations. The region's robust paper and pulp industry is another major driver fostering market expansion.
The Europe 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 3.0% 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 3.1% over the forecast period. The steel facility operates under various conditions, including extremely heavy loads, high speeds, a dusty, polluted environment, and a humid, acidic environment. It also operates between low and high temperatures. Steel facilities have high investment costs and generate profits by maintaining continuous production with minimal downtime and maintenance stops. In the steel industry, machines must be highly dependent and available over extended periods.