U.S. Quick Lube Equipment Market to Register Robust Revenue Growth in Coming the Next Ten Years

The U.S. quick lube equipment industry is set to record commendable growth in the ensuing years, due to the surging demand for dispensing consoles owing to their benefits in the management of different oils and lubricants cleanly, safely, and in a cost-effective manner.

The market growth is further driven by the increasing production of commercial vehicles that will require frequent maintenance routine, representing an extensive opportunity for industry expansion through the assessment period.

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Driven by these factors and according to the latest study by Global Market Insights, Inc., the U.S. quick lube equipment market size is expected to surpass a valuation of USD 23 million through 2027.

This upsurge is propelled by the rising demand for oil filter services, which is expected to boost the demand for oil filter rack from quick lube facilities for convenience in access and storage. The U.S. quick lube equipment industry value from other equipment types will account for the largest share of over 20% of the overall revenue in 2020 and will continue to witness steady growth through the forthcoming years.

Some major trends impelling the U.S. quick lube equipment market growth are described below:

Increasing corporate strategies by key market players

Prominent industry participants include LSI Engineered Products Unilube Systems, Ltd., Devon Lube Industries, American Lubrication Corporation, and TSS, Inc. These quick lube equipment companies are focusing on strategic initiatives, such as mergers & acquisitions, and new product launches for catering to the mounting demand for regular service and maintenance of automotive products.

For instance, in December 2020, leading global supplier of automotive services and premium branded lubricants, Valvoline, Inc., disclosed plans for the acquisition of 27 quick-lube locations in a bid to expand the service center network of the company across the United States.

Rising demand for foot stools

The U.S. quick lube equipment market share from foot stools is expected to exceed USD 1.30 million through 2027. The segment growth is driven by the escalating demand for foot stools having greater grips due to the risk of slipping on grease & oil surfaces in lube facilities.

Foot stools utilized in lube units offer added height for the safe servicing of vehicles with high ground clearance. These vehicles are lightweight, enabling their easy deployment on catwalk systems for the effortless servicing of automotive vehicles, which is poised to propel the demand for the quick lube process through the estimated period.

Surging requirement for catwalk systems

The catwalk systems segment is estimated to be valued at over USD 4 million by the end of 2027. These systems offer a working platform for vehicle service operations, allowing oil spills to drain easily. The systems can be removed for the purpose of cleaning. The equipment further provides the benefit of utilizing the basement floor space as a support equipment alternative.

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The modular components of the equipment can be easily & quickly shipped and assembled through the quick lube process. The availability of standard & customized sizes for meeting the needs of individuals, in addition to the benefits of an adjustable design alternative for work deck setting, will boost product demand.

In a nutshell, the soaring deployment of oil filter rack in quick lube units will augment U.S. quick lube equipment market share through the forthcoming years.

 

Table of Contents of the Report (TOC):

Chapter 1   Methodology & Scope

1.1    Market definitions

1.2    Base estimates & calculations

1.3    Forecast parameters

1.4    Data Sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1    Paid Sources

1.4.2.2    Public Sources

Chapter 2   Executive Summary

2.1    U.S. quick lube equipment market industry 3600 synopsis, 2020 – 2027

2.1.1    Business Trends

2.1.2    Equipment trends

2.1.3    Vehicle type trends

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