Open Gear Lubricants Market worth $907.9 million by 2030, at 3.5%, says MarketsandMarkets™

/EIN News/ -- Delray Beach, FL, May 23, 2025 (GLOBE NEWSWIRE) -- In terms of value, the Open Gear Lubricants Market  open gear lubricants market size was USD 738.1 million in 2024 and is projected to reach 907.9 million by 2030, at a CAGR of 3.5%, between 2024 and 2030, as per the recent study by MarketsandMarkets™. The drivers contributing to the growth of the global open gear lubricants market are the progressive demand from end-use industries, growth in bio-based open gear lubricants, increasing adoption of synthetic base oil, technological advancements in lubrication monitoring. The rapidly increasing mining, construction, and improved standard of living are contributing to the market growth. Restraining factors affecting the growth of the open gear lubricants market are the impact of geopolitical factors and economic slowdown, and difficulties in open gear lubricant application and usage efficiency.

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268 - Market Data Tables
54 – Figures
241 - Pages

List of Key Players in Open Gear Lubricants Market:   

1. FUCHS SE (Germany)
2. Kluber Lubrications (Germany)
3. Carl Bechem GmbH (Germany)
4. CWS Industrials, Inc. (US)
5. Shell plc (UK)

Drivers, Opportunities and Challenges in Open Gear Lubricants Market:

1. Drivers: Growing demand in end-use industries
2. Restraint: Impact of geopolitical factors and economic slowdown
3. Opportunity: Growing demand from marine and offshore sector
4. Challenge: Balancing cost & performance

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Key Findings of the Study:

1. Bio-based Base Oil type segment to account for second fastest growing segment, in terms of value, of the global open gear lubricants market during the forecast period.
2. Marine segment to account for second fastest growing segment, in terms of value, of the global open gear lubricants market during the forecast period.
3. Middle East & Africa is expected to be the second fastest-growing region, in the overall open gear lubricants market, during the forecast period.

Based on base oil type, open gear lubricants market is segmented into synthetic base oil, mineral base oil, bio-based base oil. Mineral base oil emerges first in the opened gear lubricants market due to its widespread availability, cost benefits, and applicability in different types of industries. These mineral-based lubricants derived from crude oil refining are being extensively applied into industries such as mining, cement, power generation, and construction because of their fairly balanced property of lubricity, thermal stability, and anti-wear at a relatively lower cost than synthetic alternatives.

Based on end-use industries, the open gear lubricants market is segmented into mining, construction, cement, power generation, oil & gas, marine, and other end-use industries. The open gear lubricants market was largely held by the mining industry as the end-user sector since mining is highly reliant on the operation of large and high-load machinery such as draglines, shovels, ball mills, sag mills, and kilns. Mining is an industry with extreme conditions such as high pressure, high temperature, dust, and dampness, thereby requiring special formulations of open-gear lubricants to enhance the performance of equipment, decrease the turnaround time, and prolong its working life.

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Based on region, Asia-Pacific has continued to rise to become the largest open gear lubricants market as it goes through rapid industrialization, growing infrastructure projects, and increasing demand from important sectors including mining, cement, power generation, and construction. This increasing need concerns countries like China, India, Japan, and South Korea, which have experienced staggering growth in manufacturing and industrial activities. As such, high-performance lubricants have become indispensable to ensuring the smooth operation of heavy machinery and equipment.

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