sia-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. Saudi Arabia generated the largest revenue for lubricants market for mining and quarry applications in the Middle East and Africa, whereas Brazil was the major contributor in the Latin American region.

As per the research, 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. Additionally, the widespread adoption of bio-based lubricants is expected to further spike the demand for lubricants market for mining and quarry applications during the forecast period.

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. Additionally, factors such as growing demand for metal and mineral commodities and the increasing consumption of natural resources including coal, diamond and uranium are expected to further bolster the growth for mining equipment during the forecast period. This would in turn, increase the demand for mining lubricants during the forecast period.

There is a growing trend for the adoption of automatic lubrication systems (ALS) that reduces downtime of equipment and maintenance costs of industries. Additionally, these systems could be used for both mobile and static equipment making them ideal for use to maintain environmental efficiency. Moreover, the stringent environmental laws that mandates the usage of ALS is expected to boost the growth of ALS worldwide, which would consequently propel the growth of global lubricants market for mining and quarry applications.

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. 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.