The global quick lube equipment market is anticipated to grow at a significant CAGR of 4.9% during the forecast period. One of the major factors causing the growth in the market is the rising new features and automation in vehicles. The key vehicle market players such as Morris Garages, Kia, Hyundai, Honda, and others are normalizing advanced features such as sunroof, power lift tailgates, auto opening, and closing ORVMs, emergency braking, Advanced Driver Assistance System (ADAS), and others in their vehicles in emerging countries which has increased mechanical activities, and it requires regular lubrication to work. Most of these systems are controlled by a sensor, and at any fault, a malfunction indicator light (MIL) shows on the instrument cluster or the system stops working. It has made consumers be concerned about the regular service record of the vehicle which is essential to claim the warranty of such expensive parts of the vehicle.
Get Free Sample link @ https://www.omrglobal.com/request-sample/quick-lube-equipment-market
The COVID-19 pandemic had impacted most of the industries in the market. The spread of the virus led most of the governments across the globe to impose the lockdown which strictly restricted the uses of the vehicle and shut down most of the vehicle service centers for a while. All this led to a decrease in the demand, and production activities in the quick lube equipment market. It caused market players of lubricants, and lube equipment a huge loss. For instance, as per the financial report of lubricant company Castrol India Ltd. of September 2020, the company’s total income decreased by 27.6% as compared to the total income of the company in September 2019. However, as the situation got normal, Castrol India Ltd. witnessed significant growth. As per the financial report of Castrol India Ltd. on September 2021, total income increased by 48.8% as compared to the total income from the same period of 2020.
full report of Quick Lube Equipment Market available @ https://www.omrglobal.com/industry-reports/quick-lube-equipment-market
- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Quick Lube Equipment Market by Equipment Type
- Catwalk Systems
- Dispensing Consoles
- Pit Covers & Safety Nets
- Computer Console
- Others (Foot Stools and Oil Filter Racks)
Global Quick Lube Equipment Market by Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- C&A Equipment Service
- DEVON Industries, Inc.
- EUROLUBE EQUIPMENT AB
- Guangzhou Balance Machinery Co. Ltd.
- LSI Engineered Products
- Lube Equip Inc.
- Modulube
- Oil Lube Systems Pvt Ltd.
- SVI International, inc.
- TSS
- Unilube Systems
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global quick lube equipment market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/quick-lube-equipment-market
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404
