Grease Pump Market size was valued at USD 10.25 billion in 2023 and is expected to exceed USD 19.09 billion by 2036, expanding at over 4.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of grease pump is assessed at USD 10.65 billion. The growth of the market can be attributed to factors, such as the necessity for an effective lubricating device, general wear and tear in automotive and mechanical components, and rising demand in multiple industries, such as automotive, oil, and construction. In the automotive industry, a grease pump is utilized in the repairing and servicing process. For instance, it is recommended by manufacturers that a vehicle should be serviced every year or after completing 12,000 miles. Furthermore, in 2021, approximately 67 million units of automobiles were sold worldwide. The standard form of grease pump is constantly being developed to facilitate the consumer to work with more accuracy. The manufacturers of grease pumps constantly introduce enhanced and developed forms of the pump in the market. Another major factor to influence the growth of the global grease pump market positively over the forecast period is a large portion of the global population owning some type of vehicle and performing vehicle servicing at home.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024–2036 |
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CAGR |
4.9% |
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Base Year Market Size (2023) |
USD 10.25 billion |
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Forecast Year Market Size (2036) |
USD 19.09 billion |
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Regional Scope |
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The market is segmented by end-user industry, into automotive, consumer electronics, mining, and construction, out of which, the automotive segment is anticipated to hold a significant share in the global grease pump market over the forecast period on account of continuous demand in the servicing of vehicles, and the indemnity for the damage caused to the vehicles.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Pressure |
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By Pump Type |
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By End-User Industry |
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Regionally, the global grease pump market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Europe industry is expected to dominate majority revenue share by 2036, as the region is one of the largest hubs for automotive industry. For instance, about 6 million motor vehicles are exported worldwide from Europe annually. Furthermore, the revenue of the consumer electronics industry in Europe amounted to approximately USD 200 billion in 2022 which directly influence the growth of the market.
Additionally, the global grease pump market in the Asia Pacific is further projected to grow throughout the forecast period, owing to the significant manufacturing of the 2 and 3-wheelers in the region that requires greasing and maintenance. Therefore, the region provides a higher potential for lucrative sales of grease pumps over the forecast period.
February 21, 2019: DAV Tech srl launched the new displacement pumps, Gears Volumetric pumps, with higher precision owing to guaranteed accuracy and capacity to work under most extreme weather conditions.
April 11, 2018: Ingersoll Rand launched a new model of R-Series oil-flooded screw air compressor generation at an event organized in Dubai.
Author Credits: Abhishek Verma
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