Global Construction Lubricants Market is segmented by Base Oil (Mineral Oil, Synthetic oil), by End User Equipment (Earthmoving Equipment, Material Handling Equipment, Heavy Construction Vehicles, Others), by Product Type (Hydraulic Fluid, Engine Oil, Gear Oil, Automatic Transmission Fluid (ATF), Compressor Oil, Grease, Others), and by Region (North America, Europe, Asia Pacific, Middle East & Africa and South America). 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.
The synthetic base oil segment is projected to grow at a higher CAGR during the forecast period.
Synthetic oil provides high performance and high drain interval than mineral oil. Moreover, 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 during 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.
Earthmoving equipment segment accounted for the largest share in the construction lubricants market.
Earth moving equipment are generally used to move a large amount of earth, to dig a foundation for landscaping and many others. Earthmoving equipment 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. Which in turn they require more lubricant oil to run.
The Hydraulic Fluid Segment Is Expected To Lead The Construction Lubricants Market During The Forecast Period.
Hydraulic fluid is one of the major product types of construction lubricants, it is extensively used in heavy-load vehicles and equipment used in the construction industry. These fluids are widely used as lubricants in construction equipment mainly because of their fluidity at low temperatures. Hydraulic fluids are used in construction equipment as lubricants because of their anti-wear characteristics.
Asia Pacific accounted for the largest share of the Construction Lubricants Market.
Increasing urban population demands for better facilities are proving growth opportunities for the construction industry, which in turn increases the demand for heavy machines, and lubricants especially in developing countries such as India and China.
The report covers a study of marketing and development strategies, along with the product portfolios of leading companies are 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, and Addinol Lube Oil GmbH.
Maximize Market Research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the global Construction Lubricants ids market. Report encompasses the market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Construction Lubricants market. The driving forces as well as considerable restraints have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global Construction Lubricants market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Global Construction Lubricants Market.”
https://www.maximizemarketresearch.com/market-report/global-construction-lubricants-market/27223/
Contact:
MAXIMIZE MARKET RESEARCH PVT. LTD.
Omkar Heights,
Manik Baug, Vadgaon Bk,
Sinhagad Road, Pune – 411051, Maharashtra, India.
+91 9607195908