Mining Lubricants Market worth $4.91 billion by 2030 at 3.5%, says MarketsandMarkets™

Delray Beach, FL, Aug. 18, 2025 (GLOBE NEWSWIRE) -- In terms of value, the Mining Lubricants Market  size is projected to grow from USD 4.00 billion in 2024 to USD 4.91 billion by 2030, at a CAGR of 3.5%, as per the recent study by MarketsandMarkets™. The mining lubricants market is witnessing significant growth, driven by the increasing demand for efficient and durable lubricants to enhance the performance and longevity of mining equipment. The expansion of mining activities, particularly in emerging economies, has fueled the need for specialized lubricants that can withstand extreme operating conditions. Advancements in mining equipment, including high-power-rated machinery with larger sump sizes, have further boosted the demand for high-performance lubricants. Additionally, stringent environmental regulations have encouraged the adoption of biodegradable and eco-friendly lubricants, contributing to market growth.

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Browse in-depth TOC on “Mining Lubricants Market”

664 - Market Data Tables
63 – Figures
393 - Pages

List of Key Players in Mining Lubricants Market:       

1. Exxon Mobil Corporation (US),
2. TotalEnergies SE (France),
3. Shell plc (UK),
4. Chevron Corporation (US),
5. BP p.l.c. (UK)

Drivers, Opportunities and Challenges in Mining Lubricants Market:

1. Drivers: Expanding mining industry and increased demand for specialized lubricants for high-performance machinery
2. Restraint: Volatility in raw material prices.
3. Opportunity: Growing demand for bio-based and biodegradable mining lubricants, and extended drainage intervals of high-performance lubricants.
4. Challenge: Electrification of mining machinery.

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Key Findings of the Study:

1. The gear oil & grease segment is expected to account for the largest share of the mining lubricants market by product type during the forecast period in terms of value.
2. By mining techniques, the surface mining segment is expected to account for the largest market share in terms of value during the forecast period.
3. The coal mining segment is expected to account for the largest share of the mining lubricants market by end-use inustry during the forecast period in terms of value.
4. By lubricant type, the mineral oil segment is expected to account for the largest market share in terms of value during the forecast period.
5. Asia Pacific is projected to register the largest market share during the forecast period.

Based on product type, the gear oil & grease segment accounted for the largest share, in terms of value, of the overall mining lubricants market during the forecast period. The gear oil and grease segment accounted for the largest share of the mining lubricants market during the forecast period due to their critical role in ensuring the smooth operation of heavy-duty mining equipment. Mining machinery, such as crushers, conveyors, excavators, and haul trucks, operates under extreme pressure, heavy loads, and harsh environmental conditions, requiring specialized lubrication to reduce wear and friction. Gear oils are essential for maintaining the performance of gear-driven components by providing superior load-carrying capacity, oxidation stability, and thermal resistance. Similarly, greases are widely used in bearings, pins, bushings, and other moving parts to prevent metal-to-metal contact and protect against contaminants like dust, dirt, and moisture. The increasing demand for high-performance lubricants that enhance equipment longevity and reduce maintenance costs has driven the growth of this segment.

Based on mining technique, the surface mining segment accounted for the largest share, in terms of value, of the overall mining lubricants market during the forecast period. The surface mining segment accounted for the largest share of the mining lubricants market during the forecast period due to the extensive use of heavy machinery and equipment in large-scale mining operations. Surface mining involves the extraction of minerals and ores from the Earth's surface using equipment such as excavators, haul trucks, draglines, shovels, and loaders, all of which require high-performance lubricants to operate efficiently under extreme conditions. The harsh environment, exposure to dust, debris, and fluctuating temperatures make lubrication crucial for reducing friction, preventing wear, and extending the lifespan of machinery. The increasing demand for minerals, metals, and coal, particularly for industrial applications, has fueled the expansion of surface mining activities, thereby driving the demand for mining lubricants.

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Based on end-use industry, the coal mining segment accounted for the largest share, in terms of value, of the overall mining lubricants market during the forecast period. Coal mining involves the use of equipment such as draglines, conveyors, haul trucks, continuous miners, and hydraulic shovels, all of which require high-performance lubricants to ensure smooth operations under extreme conditions, including high temperatures, heavy loads, and dust exposure. The growing global energy demand, particularly from developing economies, continues to drive coal production, further increasing the need for reliable lubrication solutions to enhance equipment efficiency, reduce maintenance costs, and prevent unplanned downtime.

Based on lubricant type, the mineral oil segment accounted for the largest share, in terms of value, of the overall mining lubricants market during the forecast period. The mineral oil segment accounted for the largest share of the mining lubricants market during the forecast period due to its widespread availability, cost-effectiveness, and proven performance in various mining applications. Mineral oil-based lubricants are extensively used in heavy-duty mining equipment, including excavators, haul trucks, crushers, and drilling rigs, due to their excellent lubrication properties, high viscosity stability, and ability to withstand extreme pressure and temperature conditions. These lubricants provide essential protection against wear, corrosion, and oxidation, ensuring smooth machinery operation and extended equipment life. The increasing demand for mining activities, particularly in coal, metal, and mineral extraction, has driven the adoption of mineral oil-based lubricants as a reliable and economical choice for mining operators.

Based on region, the Asia Pacific segment accounted for the largest share, in terms of value, of the overall mining lubricants market during the forecast period. The Asia Pacific region accounted for the largest share of the mining lubricants market during the forecast period due to its rapidly growing mining industry, increasing demand for minerals and metals, and the expansion of large-scale mining operations. Countries in the region, including China, India, Indonesia, Australia, and Vietnam, are among the world’s leading producers of coal, iron ore, copper, and other essential minerals. The rise in mining activities, driven by industrialization, infrastructure development, and economic growth, has significantly contributed to the increased consumption of mining lubricants, which are essential for ensuring the efficiency, reliability, and longevity of heavy-duty mining equipment.

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