Lubricants Market for Mining and Quarry Applications Key Participants, Opportunities, Revenue, Application, Type, Regions by 2023

The global lubricants market for mining and quarry applications is likely to grow from USD1,890 million in 2016 to USD2,610.0 million by 2023. With increasing consumption of mineral oil lubricants and the rapidly growing mining activities in emerging countries such as China and India, the demand for lubricants is expected to gain traction during the forecast period.

As per the findings of research, the coal mining emanated the largest demand for lubricants market for mining and quarry applications, by end-use. Mineral oil lubricants have been the largest revenue generator in the global lubricants market for mining and quarry applications.

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Asia-Pacific accounted for the largest region in the global lubricants market for mining and quarry applications, where China contributed to the largest revenue. The U.S. was the major market for lubricants market for mining and quarry applications in the North America, whereas Russia contributed to the largest revenue in the European region.

The increasing need for mining equipment in the coal mining industry and the rising demand of coal for power generation applications in countries such as China, India and Indonesia is likely to spur the demand for lubricants during the forecast period.

Some of the key players in the global lubricants market for mining and quarry applications include BP P.L.C., Chevron Corporation, Exxon Mobil Corporation, Royal Dutch Shell Plc, Total S.A., Blue Star Lubrication Technology, LLC, Busler Enterprises, Inc., D-A Lubricant Company, Inc., Eurol BV and Schaeffer Manufacturing Co.

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Companies such as BP, Chevron and ExxonMobil are adopting a customer-oriented method that focusses on creating brand awareness among the consumers through visual and print media, to establish and maintain a competitive edge in the overall market.

GLOBAL LUBRICANTS MARKET FOR MINING AND QUARRY APPLICATIONS MARKET SEGMENTATION
By Type

• Mineral oil lubricants
• Synthetic lubricants
• Bio-based lubricants

By Equipment Function

• Hydraulic
• Engine
• Transmission
• Gear

By Techniques

• Underground mining
• Surface mining

By End-Use

• Coal mining
• Iron ore mining
• Bauxite mining
• Rare earth mineral mining
• Precious metals mining
• Others

By Geography

• Asia-Pacific
  • China
  • India
  • Indonesia
  • Philippines
  • Vietnam
  • Australia
  • New Zealand
  • Rest of Asia-Pacific
• North America
  • U.S.
  • Canada
• Europe
  • Russia
  • Germany
  • Poland
  • Kazakhstan
  • Ukraine
  • U.K.
  • Rest of Europe
• Middle East and Africa (MEA)
  • Saudi Arabia
  • South Africa
  • Israel
  • U.A.E.
  • Rest of MEA
• Latin America
  • Brazil
  • Mexico
  • Chile
  • Peru
  • Rest of Latin America