Dublin, April 17, 2025 (GLOBE NEWSWIRE) -- The "Mining Lubricants Market by Product Type (Engine Oil, Hydraulic & Transmission Oil, Gear Oil & Grease), Mining Techniques (Surface, Underground Mining), End-Use Industry (Coal Mining, Iron Ore Mining), Lubricant Type, & Region - Global Forecast to 2030" has been added to ResearchAndMarkets.com's offering.
The global mining lubricants market is forecast to expand from USD 4.00 billion in 2024 to USD 4.91 billion by 2030, achieving a CAGR of 3.5% during the forecast period. Mining lubricants are essential for the optimal functioning and longevity of heavy machinery utilized in mining operations, particularly as these operations delve into deeper mineral reserves and tougher materials. Enhanced demand for high-power equipment with larger sump sizes is spurring growth in this sector.
Hydraulic Oil Segment Gains Traction
Hydraulic oil is earmarked to hold the second-largest market share. This specialized lubricant is integral to hydraulic systems in mining machinery such as excavators, dump trucks, and loaders, ensuring enhanced efficiency and protection against corrosion and temperature variations. The proliferation of advanced mining equipment employing sophisticated hydraulic systems drives this demand.
Underground Mining Segment Shows Robust Growth
Underground mining, characterized by the extraction of deep-seated mineral reserves, is set to maintain a sizable share of the market. The need for specialized lubricants that can endure challenging underground conditions and extend machinery life fosters demand. The segment is buoyed by expanding operations in areas with strict environmental policies.
Iron Ore Mining's Impact
The iron ore mining segment, pivotal to steel production, also holds the second-largest market share. The intensive machinery used in this domain requires high-performance lubricants to withstand hefty loads and extreme temperatures. The swelling global demand for steel in various industries fuels this trend, particularly in resource-abundant regions.
Synthetic Lubricants Segment's Rise
Synthetic lubricants, with their superior properties like high thermal stability and extended drain intervals, are anticipated to maintain a significant market share. Widely used in hydraulic systems and engines, their demand is amplified by the need for efficient lubrication in mining machinery operating under severe conditions.
North America's Market Dynamics
North America is projected to account for the second-largest share during the forecast period. The region's established mining activities and robust regulations favoring environmentally friendly lubricants contribute to this standing. The integration of advanced mining technologies and the presence of major lubricant manufacturers strengthen market growth.
Major Industry Players
Prominent market participants include Exxon Mobil Corporation (US), TotalEnergies SE (France), Shell plc (UK), Chevron Corporation (US), and BP p.l.c. (UK). These companies leverage acquisitions, expansions, and strategic partnerships to gain competitive edges.
Comprehensive Market Research
The report segments and defines the mining lubricants market based on product type, lubricant type, and geographic regions. It examines market growth drivers, constraints, opportunities, and challenges, while profiling key manufacturers and analyzing competitive developments.
Reasons to Buy
This report aids stakeholders in understanding market dynamics, crafting market entry strategies, and identifying revenue prospects. Key insights include:
- Analysis of market drivers and restraints influencing industry performance.
- Insights into product development and innovation trends.
- Market development insights highlighting lucrative geographies.
- Diversification opportunities into new areas and recent investments.
- Competitive assessment of key market players and their strategies.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 394 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $4 Billion |
| Forecasted Market Value (USD) by 2030 | $4.91 Billion |
| Compound Annual Growth Rate | 3.5% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Expanding Mining Industry
- Increased Demand for Specialized Lubricants for High-Performance Machinery
- Rising Demand for Higher Power-Rated Mining Equipment with Larger Sump Size
- Impact of Changing US Energy Policy on Mining Industry
Challenges
- Electrification of Mining Machinery
Opportunities
- Growing Demand for Bio-based and Biodegradable Mining Lubricants
- Extended Drainage Intervals of High-Performance Lubricants
- Supportive Government Policies Related to Modernize and Boost Mining Activities
Case Studies
- Kluber Lubrication Helped South American Mining Firm by Providing High-Performance Lubricant Made Especially for Gearboxes
- Shell Helped Sis, Indonesia, to Extend Life of Pins and Bushes Used in Mining Equipment by Up to 9 Times
Company Profiles
- Exxon Mobil Corporation
- Totalenergies SE
- Shell PLC
- Chevron Corporation
- Bp P.L.C.
- Idemitsu Kosan Co. Ltd.
- Fuchs
- Quaker Chemical Corporation
- Lukoil
- Whitmore Manufacturing LLC
- Schaeffer Manufacturing Co.
- Kluber Lubrication
- Bel-Ray Company, LLC
- Royal
- Lubrication Engineers
- Itw Polymers & Fluids
- Eurol
- Lucas Oil Products, Inc.
- Rymax Lubricants
- D-A Lubricant Company
- Asianol Biotech
- Dubois Chemicals
For more information about this report visit https://www.researchandmarkets.com/r/ys8jtd
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