The global mining lubricants market reached a value of US$ 2.24 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 2.91 Billion by 2027, exhibiting a CAGR of 4.30% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Mining lubricants refer to specialty lubricants used for minimizing friction and wear generated between equipment. They are used for both mobile and processing or stationary equipment, including hydraulic systems, turbines, compressors, gears, pneumatic tools and mining transmissions. Some of the commonly used mining lubricants include mineral oil and synthetic lubricants. These lubricants have high thermal stability, viscosity index, extended oil drain intervals and corrosion, pressure and wear-resistance properties. They aid in improving energy efficiency, dissipating heat, minimizing downtime and increasing the operational life of the equipment. As a result, they are widely used for coal, iron ore, bauxite, rare earth mineral and precious metal mining applications.

Mining Lubricants Market Trends:
Significant growth in the mining industry across the globe is one of the key factors creating a positive outlook for the market. Moreover, the widespread adoption of sophisticated mining equipment, such as continuous miners, haul trucks, scalers, hydraulic shovels, motor graders and dragline excavators, is providing a thrust to the market growth. Original equipment manufacturers (OEMs) also encourage the use of premium-quality lubricants for these machines to increase the overall operational life. In line with this, the advent of novel automated lubrication systems is further contributing to the growth of the market. In comparison to manual lubrication, these systems provide automatic and continuous flow of lubricants to the machines while they are operational to prevent drag on the bearings and seals. Additionally, various product innovations, such as the development of bio-lubricants, are acting as other growth-inducing factors. These lubricants are biodegradable, recyclable and have minimal aqueous toxicity. Other factors, including improvements in the mining infrastructure, especially in the developing economies, along with the increasing exploration and drilling activities, are anticipated to drive the market toward growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global mining lubricants market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product, equipment function, mining techniques and application.

Breakup by Product:

Mineral Oil Lubricants
Synthetic Lubricants
Bio-Based Lubricants

Breakup by Equipment Function:

Engine
Hydraulic
Transmission
Gear

Breakup by Mining Techniques:

Surface Mining
Underground Mining

Breakup by Application:

Coal Mining
Bauxite Mining
Iron Ore Mining
Precious Metals Mining
Rare Earth Mineral Mining
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being BP p.l.c., Chevron Corporation, China Petroleum & Chemical Corporation, ExxonMobil Corporation, Fuchs Group Holding GmbH, Kl?ber Lubrication (Freudenberg & Co. Kommanditgesellschaft), PetroChina Company Limited, Quaker Chemical Corporation, Royal Dutch Shell Plc and Total SE.

Key questions answered in this report:
How has the global mining lubricants market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global mining lubricants market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the equipment function?
What is the breakup of the market based on the mining techniques?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global mining lubricants market and who are the key players?
What is the degree of competition in the industry?