Mining Lubricants Market

The global mining lubricants market is projected to grow from USD 4.00 billion in 2024 to USD 4.91 billion by 2030, at a CAGR of 3.5% during the forecast period. Mining lubricants play a crucial role in ensuring the smooth operation, efficiency, and longevity of heavy machinery used in both surface and underground mining operations. These lubricants, including engine oils, hydraulic fluids, gear oils, and greases, help reduce friction, minimize wear, and enhance equipment performance under extreme conditions such as high temperatures, heavy loads, and exposure to dust and moisture. The mining lubricants market is experiencing significant growth, driven by the expansion of the mining industry, and increasing demand for minerals and metals. Additionally, stringent environmental regulations are promoting the use of eco-friendly and biodegradable lubricants, further driving market innovation. The push for improved operational efficiency, cost reduction, and equipment reliability is also encouraging mining companies to invest in high-performance lubricants, thus driving the market for mining lubricants.

Mining Lubricants Companies

Companies such as Exxon Mobil Corporation (US), TotalEnergies SE (France), Shell plc (UK), Chevron Corporation (US), and BP p.l.c. (UK) fall under the winners’ category. These are leading players in the mining lubricants  market globally. These players have adopted the strategies of acquisitions, expansions, agreements, and product launches to increase their market shares.

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Exxon Mobil Corporation

Exxon Mobil Corporation markets its products worldwide under the brands Exxon, Mobil, and Esso. It also owns hundreds of small subsidiaries, including Imperial Oil Limited (69.6% ownership) in Canada. The company operates through five main segments: Upstream, Energy Products, Chemical Products, Specialty Products, and Corporate and Financing.

The company manufactures and markets lubricants, waxes, base stocks, elastomers, synthetics, and resins through the Specialty Products business segment. Lubricants are sold under the brand name Mobil. The company owns lubricant blending plants in 25 countries, which includes 6 base stock refineries and 21 blending plants. Exxon Mobil is one of the largest integrated refiners in the world, with almost 80% refinery and blending operations integrated directly into oil fields, which help maintain a steady supply of raw materials to manufacture refined products, such as base oil for lubricants. The company operates in more than 160 countries, including North America, South America, Europe, and Asia Pacific.

TotalEnergies SE

TotalEnergies SE is a French multinational integrated oil & gas company listed on the Euronext and New York Stock Exchange. Its businesses cover the entire oil & gas value chain, from crude oil and natural gas exploration and production to power generation, transportation, refining, petroleum product marketing, and international crude oil and product trade.

The company operates through six segments: Refining & Chemicals, Integrated Power, Integrated LNG, Marketing & Services, Exploration & Production, and Corporate. It offers lubricants through the Marketing & Services business segment. It is one of the market leaders in inland lubricant distribution. TotalEnergies SE has made a strong presence in Europe through its Marketing & Services segment, catering to almost all the countries of the European Union. It has lubricant production plants in Rouen (France), Ertvelde (Belgium), and Russia. The company has three existing refineries in Egypt, Nigeria, and South Africa in Africa and the Middle East. TotalEnergies SE has a stronger presence in Asia Pacific, with 11 blending plants spread across the region. The company has operations in more than 130 countries in Asia, the Middle East & Africa, Europe, North America, and South America.

Shell plc

Shell plc is one of the world's largest oil & gas companies and is listed on the London Stock Exchange. The company is vertically and horizontally integrated and is active throughout the value chain in the oil & gas industry, including E&P operations, midstream logistics, refining, marketing, and retailing. The company operates through six major business segments: Chemicals and Products, Marketing, Integrated Gas, Upstream, Renewables and Energy Solutions, and Corporate.

Through its Marketing business segment, it offers its lubricant products for passenger cars, motorcycles, trucks, coaches, and machinery used in manufacturing, mining, power generation, agriculture, and construction. Shell plc offers various lubricant products across 100 countries around the world. The company can maintain its position in the market through its four base oil manufacturing plants, 32 blending plants, 10 grease plants, and six GTL base oil storage hubs.

Chevron Corporation

Chevron Corporation is one of the top integrated energy companies in the world.  The company has over 140 years of experience in the oil & gas industry. In addition to manufacturing transportation fuels, lubricants, petrochemicals, and additives, Chevron Corporation also produces natural gas and crude oil and creates technologies that benefit the industry and its operations. The company markets its products under three major brand names: Chevron, Texaco, and Caltex.

The company operates through three main business segments: Upstream, Downstream, and All Other. Crude oil transportation via major international oil export pipelines; liquefaction, transportation, and regasification related to liquefied natural gas (LNG); and marketing of natural gas are some of the main upstream activities. Crude oil refinement into petroleum products; marketing of crude oil, refined products, and lubricants; production and distribution of renewable fuels; and transportation of crude oil and refined products via pipeline are some of the main downstream operations. The company marks its global presence by providing its products and services across North America, South America, Europe, Asia Pacific, Middle East, and Africa.

BP p.l.c.

BP p.l.c. is a vertically integrated company with over 100 years of experience in the oil & gas industry. It operates through four main business segments: Customer & Products, Gas & Low Carbon Energy, Oil Production & Operations, and Other Businesses & Corporate. The company’s gas and low-carbon energy businesses are included in the Gas and Low-Carbon Energy business section. Its gas business encompasses areas with upstream operations that primarily generate natural gas, gas trade, and integrated gas and power. Solar, onshore and offshore wind, hydrogen, carbon capture and storage (CCS), and electricity trading are all part of its low-carbon operations.

The company’s Oil Production & Operations segment comprises areas where crude oil production, including bpx energy, is the primary upstream activity. The Customers & Products  business segment comprises s customer-focused businesses, which include convenience and retail fuels, EV charging, as well as Castrol, aviation and B2B and midstream. It also includes company’s products businesses, refining & oil trading, as well as company’s bioenergy businesses. The company provides lubricants under the brand name Castrol. The company marks its global presence by providing its products and solutions through 21,100 retail sites located across 61 countries around the world.

Related Reports:

Mining Lubricants Market by Product Type (Engine Oil, Hydraulic & Transmission Oil, Gear Oil & Grease), Mining Techniques (Surface, Underground Mining), End-use Industry (Coal Mining, Iron Ore Mining), Lubricant Type, & Region - Global Forecast to 2030

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