$4550
[Research Report] The robotics lubricants market size is expected to grow from US$ 3,413.72 million in 2022 to US$ 6,095.41 million by 2028; it is estimated to register a CAGR of 10.1% from 2022 to 2028.
MARKET ANALYSIS
Lubricants are used to reduce friction between surfaces and the heat generated, increasing the life of the surfaces involved. Industrial robots are involved in material handling, assembly, and dispensing, due to which they become exposed to the effects of wear and corrosion. Lubricants for robotics are developed to help decrease the downtime of industrial robots and positively impact quality, costs, and efficiency of the manufacturing process. Lubricants consist of a variety of fluids to withstand extreme conditions. Grease is a widely used lubricant for robotics operations.
GROWTH DRIVERS AND CHALLENGES
The growing demand for robotics lubricants in the end use industries has aided the robotics lubricants market growth. In the manufacturing sector, a robotics lubricant is one of the key components that help an equipment operate with maximum reliability and at peak efficiency. Greases, hydraulic oils, and gear oils are used across several end-use industries, including automotive, electrical & electronics, food & beverages, logistics, and metal & machinery fabrication. Robotic grease contains base oil such as mineral oil or synthetic oil, thickener, and additives, which impart distinct product qualities. Greases possess several properties such as sealing ability, low leakage tendency, protection against corrosion, and heavy load handling. Several commercially available robot greases are food grade and comply with certain international standards for specific industries such as food & beverages and medical & healthcare. Grease degrades due to friction and exposure to extreme temperatures till its viscosity levels are insufficient to effectively lubricate the internal mechanical components. Robot greasing is an integral part of maintaining the overall efficiency of robots and robotic components. The recommended frequency for robot greasing varies by brand and model. Thus, the advantages of greases over other lubricants and the preference for robot greases from end-use industries are driving the robotics lubricants market. However, fluctuations in global economic conditions led to an increase in the costs of additives, base stocks, transportation, and manufacturing. Several manufacturers witnessed inflationary pressure as well as lubricant additives supply across the lubricant supply chain. In 2022, base oil prices in the US increased from US$ 2 per gallon to US$ 5 per gallon. Moreover, in 2022, FUCHS Lubricants Co announced a price hike of 8–12% for its lubricant additive portfolio, which was implemented from October 2022. Further, in 2022, Ergon Inc increased the prices of naphthenic base oil. However, in 2023, Chevron Corporation announced a US$ 0.20 to US$ 0.50 decrease in base oil price. Thus, fluctuation in prices of raw materials is restraining the robotics lubricants market growth.
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Robotics Lubricants Market: Strategic Insights
Market Size Value in US$ 3,413.72 million in 2022 Market Size Value by US$ 6,095.41 million by 2028 Growth rate CAGR of 10.1% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2021
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Robotics Lubricants Market: Strategic Insights
| Market Size Value in | US$ 3,413.72 million in 2022 |
| Market Size Value by | US$ 6,095.41 million by 2028 |
| Growth rate | CAGR of 10.1% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
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REPORT SEGMENTATION AND SCOPE
The "Global Robotics Lubricants Market Analysis to 2028" is a specialized and in-depth study with a major focus on the global robotics lubricants market trends and growth opportunities. The report aims to provide an overview of the global robotics lubricants market with detailed market segmentation by base oil, product type, end use industry, and geography. The global robotics lubricants market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of robotics lubricants worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the robotics lubricants market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the robotics lubricants market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative robotics lubricants market opportunities that would, in turn, aid in identifying the major revenue pockets.
Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global robotics lubricants market, which helps understand the entire supply chain and various factors affecting the market growth.
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SEGMENTAL ANALYSIS
The global robotics lubricants market is segmented on the basis of base oil, product type, and end use industry. Based on base oil, the robotics lubricants market is segmented as mineral oil, synthetic, and others. Based on product type, the market is classified as hydraulic oil, gear oil, and grease. Based on end use industry, the market is classified as automotive, food and beverage, medical and healthcare, electrical and electronics, metals, and other manufacturing industries.
Based on mineral oil, the mineral oil accounted for a significant robotics lubricants market share. Many lubricant manufacturers provide multi-purpose lubricants for applications in robotic gear components, chains, bearings, and threaded connections. Castrol Ltd offers mineral-based gear oils, including Optigear ALR 320, Optigear BM 100, and Alpha SP 320, for all or selective robotic axial applications. On the basis of product type grease segment led the robotics lubricants market with a largest market share. Based on end use industry automotive accounted for a major robotics lubricants market share. The electrical and electronics segment is expected to register the fastest CAGR during the forecast period.
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REGIONAL ANALYSIS
The report provides a detailed overview of the global robotics lubricants market with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. Asia Pacific accounted for a significant share of the market and valued at more than US$ 1.9 billion in 2022. Asia Pacific region is a prominent market for robotics lubricants owing to growth in the automotive and electronics sectors and a rise in industrialization, leading to increased demand from manufacturing sector. Europe is also expected to witness considerable growth reaching over US$ 1.2 billion in 2028, attributed to the increasing utilization of robotics lubricants in electrical and electronics industry. The North America is expected to grow at CAGR of around 9% from 2022 to 2028.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Partnership, acquisitions, and new product launches were found to be the major strategies adopted by the players operating in the global robotics lubricants market.
In April 2023, FUCHS company launched ‘RENOLIT ROBO-G 0’ – a grease for robot lubrication. It is a semi-liquid extreme pressure (EP) grease based on lithium complex soap and mineral oil. The product is intended for application in precision gears such as industrial robots, machine tools and round tables.
IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION
Lockdowns, travel restrictions, and business shutdowns due to the COVID-19 pandemic adversely affected economies and industries in various countries in North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA). The crisis disturbed global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020. Further, the international travel bans imposed by various governments in Europe, Asia Pacific, and North America forced several companies to discontinue their collaboration and partnership plans. All these factors hampered the chemicals & materials industry in 2020 and early 2021, thereby restraining the growth of various markets related to this industry, including the robotics lubricants market.
Before the COVID-19 outbreak, the robotics lubricants market was mainly driven by the rising demand from automotive and electronics industries. However, in 2020, various industries had to slow down their operations due to disruptions in value chains caused by the shutdown of national and international boundaries. The COVID-19 pandemic disrupted the supply chain of key raw materials and disturbed manufacturing processes due to restrictions imposed by government authorities in various countries. Such factors reduced the production of robotics lubricants.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Some of the key players operating in the robotics lubricants market include, Miller-Stephenson Inc, Shell International BV, Fuchs, Petrolub SE, BP Plc, Idemitsu Kosan Co Ltd, Chemie-Technik GmbH, Anand Engineer Pvt Ltd, Kluber Lubrication GmbH & Co KG, and Schaeffler Austria GmbHamong others.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Base Oil, Product Type, and End Use Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The automotive segment held the largest share of the market in 2022. Automotive assembly lines encompass several challenges such as potential for injury, handling of high load components, slow production time, and quality inspection. Therefore, automotive industry deploys robots to overcome aforementioned challenges.
The grease segment held the largest share of the market in 2022. Robotic greases generally consist of mineral or semi-synthetic base oil with viscosity ranging from 40 to 175 centistokes. NLGI (National Lubricating Grease Institute) 0 or NLGI 00 greases are generally preferred for application in robotic joints.
The mineral oil segment held the largest market share. Mineral oil is the most commonly used base oil in lubricant formulations. Paraffinic mineral oils possess several advantages such as high viscosity index and high flash point.
The major players operating in the global robotics lubricants market are Miller-Stephenson Inc, Shell International BV, Fuchs Petrolub SE, BP Plc, Idemitsu Kosan Co Ltd, Chemie-Technik GmbH, Anand Engineer Pvt Ltd, Kluber Lubrication GmbH & Co KG, and Schaeffler Austria GmbH.
Asia Pacific is estimated to register the highest CAGR in the global robotics lubricants market over the forecast period. The growth of the robotics lubricants market in Asia-Pacific is driven by rising demand for robotics lubricants from various end-use industries such as automotive, food and beverage, medical and healthcare, electrical and electronics, metals, and other manufacturing industries.
In 2022, Asia Pacific held the largest revenue share of the global robotics lubricants market is expected to register the highest CAGR from 2022 to 2028. The robotics lubricants market growth in Japan, China, South Korea, Singapore, Taiwan, and Vietnam is attributed to growing manufacturing sector in the region. Asia Pacific is manufacturing hub for automotive and electronics industries with China, Japan, and South Korea playing major role in installation of robotics for manufacturing process.
The List of Companies - Robotics Lubricants Market
- Miller-Stephenson Inc
- Shell International BV
- Fuchs Petrolub SE
- BP Plc
- Idemitsu Kosan Co Ltd
- Chemie-Technik GmbH
- Anand Engineer Pvt Ltd
- Kluber Lubrication GmbH & Co KG
- Schaeffler Austria GmbH
- ASV Multichemie Pvt Ltd
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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