The global lubricants market is poised for substantial growth, projected to reach US$ 206.9 billion by 2034, driven by increasing demand for bio-based lubricants, robust industrial expansion, and advancements in lubricant technology. Asia Pacific is expected to lead the market, fueled by rapid industrialization and rising automotive sales.
The global boilers market is projected to grow significantly from 2024 to 2028, driven by increasing demand for energy-efficient solutions and the rise of biomass boilers. This growth is further fueled by government regulations promoting sustainable heating solutions and reducing carbon emissions. While challenges exist, such as the shift towards solar and wind energy and rising installation costs, the market is expected to experience continued expansion, particularly in the biomass fuel segment. Key players include A. O. Smith Corp., Alfa Laval AB, and Mitsubishi Heavy Industries Ltd.
The global medium voltage motors market is projected to witness steady growth during the forecast period of 2024-2028, with increasing demand for energy-efficient motors, expansion of the process industries, and growing adoption of renewable energy sources. The revival of the capex cycle in the energy sector, driven by declining costs of renewable energy and energy storage systems, is a key factor fueling market growth.
