According to the research report titled ‘Global Automatic Lubrication System Market by Lubrication Type (Grease, Oil), System Type (Single-Line, Dual-Line, Multi-Line, Series Progressive, Circulating Oil, Oil & Air), Industry (Steel, Manufacturing, Cement, paper, printing, transportation, construction), Regional Forecasts 2021-2027’, available with Market Study Report, global automatic lubrication system market was valued at USD 0.84 billion in 2020 and is reckoned to expand at 4.5% CAGR over 2021-2027 to accumulate USD 1.15 billion by the end of analysis timeframe.
 

Surging product awareness and adaptability in various industries, improved time efficiency than manual lubrication practice, and effective lubrication are catalyzing the growth of global automatic lubrication system market. Moreover, soaring worker safety concerns, and product innovations are also propelling the industry development.
 

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For the unversed, automatic lubrication is also known as centralized lubrication. It is a cost-effective method of lubricating, that helps in boosting the availability of machine by enhancing equipment performance and is often employed in manufacturing and steel verticals.
 

Despite the positive outlook, lack of awareness among end-user sectors is hampering the product adoption, thereby limiting the market renumeration.
 

Regionally, North America, Europe, Latin America, and Asia Pacific are major benefactors to worldwide automatic lubrication system industry growth. Among these, Europe currently holds a major market share, owing to emphasis on adopting efficient machinery & equipment as well as maintenance procedures. Also, flourishing electronics manufacture, automotive, mining, agriculture, and steel sectors are fueling the product demand.
 

Meanwhile, Asia Pacific industry is anticipated to grow significantly over the assessment period, with India, Japan, and China at the forefront, accreditable to proliferating steel, cement, and energy industries due to domestic demand for goods and services.
 

Speaking of the competitive landscape, Klüber Lubrication, Simatec Inc., Oil-Rite Corporation, I.L.C. S.r.l., ATS Electro-Lube Intl Inc., CENLUB Systems, Perma-Tec GmbH & Co. KG, Bijur Delimon India Pvt. Ltd., The Timken Company, and AB SKF are the major players influencing global automatic lubrication system industry trends.