Global Construction Lubricants Market was valued at US$ 13.70 Bn in 2019, and is expected to reach US$ 19.33 Bn by 2027, at a CAGR of 4.4 % during forecast period.
Global Construction Lubricants Market
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Construction Lubricants market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in Construction Lubricants market.
The growth of the construction industry in the Asia Pacific and the Middle East & Africa regions coupled with the improved quality of construction lubricants is expected to drive the construction lubricants market during the forecast period. The mineral oil segment is projected to lead the construction lubricants market during the forecast period due to its easy availability and low cost.
The synthetic oil segment is projected to register the highest CAGR during the forecast period. Synthetic oil provides high performance and high drain interval than mineral oil. Further, due to the implementation of environmental rules and regulations in the developed regions, the market for synthetic oil is expected to register a higher CAGR between 2018 and 2026.
Based on the End user equipment, Earthmoving equipment segment accounted for the largest share in the construction lubricants market in 2017. Earthmoving equipment is heavy equipment, typically heavy-duty vehicles designed for construction operations which involve earthworks. They are used to move large amounts of earth, to dig foundations for landscaping and so on.
Earthmoving equipment may also be referred to as heavy trucks, heavy machines, construction equipment, engineering equipment, heavy vehicles and heavy hydraulics. Most earthmoving equipment uses hydraulic drives as the primary source of motion.
Hydraulic fluids are extensively used in heavy-load vehicles and equipment used in the construction industry. The primary factor leading to its high usage as lubricants in construction equipment is due to their fluidity at low temperature. Hydraulic fluids possess anti-wear, resistance to corrosion and water tolerance, and filterability characteristics as well.
Geographically, The Asia Pacific region is projected to be the largest construction lubricants market during the forecast period due to the massive industrial growth in emerging countries, such as China, India, and South Korea. Increasing urban population demands for better facilities are proving growth opportunities for the construction industry, which in turn increases the demand for lubricants.
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Scope of Construction Lubricants Market:
Global Construction Lubricants Market, By Base Oil:
• Mineral Oil
• Synthetic Oil
Global Construction Lubricants Market, By End User Equipment:
• Earthmoving Equipment
• Material Handling Equipment
• Heavy Construction Vehicles
• Others
Global Construction Lubricants Market, By Product Type:
• Hydraulic Fluid
• Engine Oil
• Gear Oil
• Automatic Transmission Fluid (ATF)
• Compressor Oil
• Grease
• Others
Global Construction Lubricants Market, By Region:
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating In Global Construction Lubricants Market:
• Royal Dutch Shell
• Exxonmobil
• British Petroleum (BP)
• Chevron Corporation
• Total S.A.
• Petrochina Company
• Lukoil
• Indian Oil Corporation
• Sinopec
• Fuchs Petrolub SE
• Phillips 66 Company
• Bel-Ray Company LLC.
• Morris Lubricants
• Penrite Oil
• Valvoline
• Liqui Moly GmbH
• ENI SPA
• Addinol Lube Oil GmbH
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