At 3.7% CAGR, North America Lubricating Grease Market is Projected to be Worth US$ 833.48 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the North America lubricating grease market was valued at US$ 621.87 million in 2022 and is expected to reach US$ 833.48 million by 2030, registering a CAGR of 3.7% from 2022 to 2030. Rapid industrialization and soaring demand for lubricating grease from the automotive industry are among the critical factors attributed to drive the North America lubricating grease market growth.

Lubricating grease is one of the key components used in the industrial sector, which helps the equipment to run efficiently and offer maximum reliability. It is used in various industries, such as automotive, oil & gas, textile, glass, power generation, paper & pulp, chemicals, petrochemicals, agriculture, marine, industrial manufacturing, food & beverages, and pharmaceuticals. As economies undergo significant transformation, with burgeoning manufacturing, construction, and industrial sectors, the reliance on lubrication solutions becomes paramount. In the wake of this rapid industrialization, lubricating grease is experiencing heightened demand to ensure the optimal performance and longevity of industrial equipment. Lubricating grease caters to the seamless operation of manufacturing machinery and sustain industrial production momentum. In parallel, the construction industry, a cornerstone of industrialization, significantly influences the demand for lubricating grease.

Increasing investment in the industrial sector is significantly augmenting the demand for lubricating greases. With a surge in production activities, the machinery utilized in manufacturing processes requires efficient lubrication to mitigate friction, reduce wear and tear, and extend operational lifespan. Lubricating grease caters to these specific needs, contributing to the seamless operation of manufacturing machinery and sustaining industrial production momentum.

The renewable energy industry, a subsegment of the power sector, is also emerging as a prominent consumer of lubricating grease. Grease is primarily used in turbines and transformers in this industry. In recent years, the increasing demand for renewable energy has led to an upsurge in wind turbine installations worldwide. Countries across the world are taking initiatives to increase their renewable energy capacities through wind turbine installations.

The growth of mining, agriculture, chemicals, and petrochemical sectors amplifies the demand for lubricating grease. In mining, heavy-duty equipment requires robust lubrication to withstand harsh operating conditions, while agricultural machinery relies on efficient greases for smooth and reliable performance. As economies expand their industrial and manufacturing capacities, lubricating grease becomes integral to sustaining growth, enhancing operational efficiency, and ensuring the longevity of machinery and equipment. Thus, the rapid industrialization in developing economies is driving the demand for lubricating grease across diverse sectors.

On the contrary, stringent government policies hamper the growth of North America lubricating grease market.

Based on base oil, the North America lubricating grease market is segmented mineral oil, synthetic oil, and bio-based. The mineral oil segment held 64.8% market share in 2022, amassing US$ 402.80 million. It is projected to garner US$ 534.45 million by 2030 to register 3.6% CAGR during 2022-2030. The synthetic oil segment is further sub segmented into polyalkylene glycol, polyalphaolefin, and esters.

In terms of thickener type, the North America lubricating grease market is categorized into lithium, lithium complex, polyurea, calcium sulfonate, anhydrous calcium, aluminum complex, and others. The lithium segment held 30.8% share of North America lubricating grease market in 2022, amassing US$ 191.62 million. It is anticipated to garner US$ 260.21 million by 2030 to expand at 3.9% CAGR during 2022-2030.

By end-use industry, the North America lubricating grease market is segmented into conventional vehicles, electric vehicles, building & construction, mining, marine, food, energy & power, and others. The conventional vehicles segment held 48.2% market share in 2022, amassing US$ 299.89 million. It is projected to garner US$ 410.74 million by 2030 to register 4.3% CAGR during 2022-2030.

By country, the North America lubricating grease market is bifurcated into US, Canada, and Mexico. Our regional analysis states that the US captured 73.2% share of North America lubricating grease market in 2022. It was assessed at US$ 455.38 million in 2022 and is likely to hit US$ 617.28 million by 2030, registering a CAGR of 3.9% during 2022-2030.

Key players operating in the North America lubricating grease market are Exxon Mobil Corp, Fuchs SE, Petroliam Nasional Bhd, Shell Plc, Kluber Lubrication GmbH & Co KG, TotalEnergies SE, BP Plc, Chevron Corp, Valvoline Inc, and Axel Christiernsson AB, among others.


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