Albany, NY -- (SBWIRE) -- 05/11/2015 -- Effective lubrication systems form an essential component of any lubrication program by enabling customers to reduce consumption and energy consumption. Lubrication systems provide essential amounts of lubricants to minimize friction and wear & tear in moving parts of machinery. These systems are widely used in industrial applications to improve the productivity and reliability of machine parts. With the advancement of technology several monitoring and controlling systems have been developed which assists in further increasing the reliability and performance of lubrication systems. Essential parts within lubrication systems such as lubricant reservoirs and lubricant injectors are generally monitored by alarm systems. When the lubricant reservoir decreases or any unwanted flow trend in noted an alarm signal is sent to the main controlling room. The market for lubrication systems is anticipated to grow at a substantial rate owing to its increasing usage in industrial and automotive applications.

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The rapid industrialization in developing economies and requirement of efficient lubrication systems in automobiles are the major drivers for the lubrication systems market. Moreover, the reduction in the wear and tear losses on use of lubrication system is another factor driving the lubrication system market. The use of lubrication systems reduces the cost involved in damage repair of the machine parts. Energy efficiency initiatives taken by industrial groups and environmental regulations are also essential driving forces attracting investment in this market. Lack of awareness about the presence and benefits of the lubrication systems among the end users is one of the major restraints of lubrication systems market. Increasing industrialization especially in Asia Pacific countries such as China, India and Indonesia can act as the opportunity for the lubrication systems market.

The segmentation of the lubrication systems market can be done on the basis of type, technology, end user industry and geography. On the basis of type the lubrication systems market can be categorized as manual, centralized and automated systems. The centralized and automated lubrication systems are the dominant segments in this category. On the basis of technology the lubrication systems can be divided into dual line lubrication systems, single shot oil lubrication systems, progressive lubrication systems, gear spray lubrication systems, conveyor lubrication systems and multipoint lubrication systems. Major end users of lubrication systems include industrial machines, cement industry, steel and paper industry, automobile, power and energy industries. The use of lubrication systems by these industries protect their machineries against the wear and tear caused due to the friction amongst the components.

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Currently, Europe is the major market for lubrication systems. The energy efficiency measures and environmental regulations announced by industrialized nations in this region is a major factor attracting investment in the lubrication systems market. Several major automobile companies also operate in Europe which further drives investments in this market. North America also occupies a significant market share of the global lubrication system market. The expanding industrial economies of Asia Pacific are potential markets for the lubrication system market. The growing demand of lubrication systems from the automobile and the mineral processing segment is also anticipated to account for a significant portion in Asia Pacific. Industrialization activities in Latin America and Africa also provide growth opportunities to the lubrication systems market.

Some of the key players in the lubrication system market include companies such as Cenlub Systems, SKF, Dropco Multilub Systems Private Limited, and Lincoln Industrial Corp.

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