The global construction lubricant market size was USD 11.09 Billion in 2022 and is expected to reach USD 16.91 Billion in 2032, and register a revenue CAGR of 4.8% during the forecast period. Increasing construction activities across the globe, high demand for heavy gear and equipment on construction sites, and rising demand for high-performance lubricants to extend equipment life and minimize downtime are major factors driving market revenue growth.
Demand for residential and commercial infrastructure, particularly in developing countries, is increasing, which is driving revenue growth of the construction industry. The construction sector has a direct impact on the lubricant business since lubricants are essential to the effective operation of large machinery and equipment. Construction Lubricants are necessary to reduce wear and friction on moving parts of machinery, shield them from rust and corrosion, and assure their smooth operation.
The construction industry in Europe contributes to the growth of the global market. Spain, Turkey, and the United Kingdom are expected to witness the fastest growth rates for the consumption of lubricants, owing to the increasing commercial and public infrastructure investments. The growing infrastructure projects and the modernization of the transport infrastructure in the Eastern European countries are expected to be the driving factors for the growth of the market in the region.
Get a sample copy of the construction lubricants market report, visit: https://www.reportsanddata.com/download-free-sample/1910
Further key findings from the report suggest
- Among the base oils, the mineral oil accounts for the largest market share of ~55% in the year 2018. The mineral base oil is developed directly from crude oil. It has outstanding properties that allow it to provide lubrication at high temperatures, as well as maintaining its stability over long periods. Mineral oil is a less expensive choice for the end-users, owing to its simpler production process.
- Synthetic oil is forecasted to grow with the highest rate of 4.6% during the forecast period. Synthetic oils have low-temperature pump-ability, are more robust, and have improved stability at high temperatures. Synthetic oils also minimize overall wear and tear of components by lubricating them more effectively during cold start-ups.
- Synthetic oils reduce wastage by reducing both waste oil and evaporative loss. They are proven to be a cleaner product, which means fewer emissions, reducing the impact on the environment.
- The Asia Pacific region held the largest market share of ~30% in the year 2018 and is anticipated to witness the highest CAGR of 4.6% during the forecast period, owing to the region’s rapid expenditure in construction and infrastructure, particularly in China, India, and Japan.
- The rapid growth in the demand for base oil will contribute to the growth of the market in the region. The rising population, growing industrialization, and urbanization, coupled with the expanding chemicals materials, construction, food processing, and other industries in the region will also escalate the growth of the market.
- Key participants include Lukoil, Petrochina Company, Indian Oil Corporation, Fuchs Petrolub SE, Sinopec, Morris Lubricants, Phillips 66 Company, Bel-Ray Company LLC., Valvoline, Penrite Oil, ENI SPA, Liqui Moly GmbH, Lubrication Engineers, Inc., Addinol Lube Oil GmbH, Lubricating Specialties Company, FUCHS, Schaeffer Manufacturing Co., Southern Lubrication (Pvt) Ltd., AFRILUBE, QALCO, and Leahy-Wolf, among others.
- The companies have adopted various strategies, including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.
To know more about the latest insights of the report, visit: https://www.reportsanddata.com/request-latest-insight/1910
For this report, Reports and Data have segmented into the global construction lubricants market on the basis of lubricant type, base oil, end-use, and region:
Lubricant type Outlook
- Hydraulic Fluid
- Engine Oil
- Gear Oil
- Automatic Transmission Fluid (ATF)
- Others
Base oil Outlook
- Mineral Oil
- Synthetic Oil
- Hydrocracking
- Poly Alpha Olefin (PAO)
- Esters
- Polyalkylene Glycol (PAG)
End-Use Outlook
- Material Handling Equipment
- Heavy Construction Vehicles
- Earthmoving Equipment
- Excavators
- Crawler Excavators
- Mini Excavators
- Wheeled Excavators
- Loaders
- Wheeled Loaders
- Skid-Steer Loaders
- Dozers
- Motor Graders
- Others
- Others
Regional Outlook
- North America
- U.S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
Explore Trending Reports:
Zero Liquid Discharge Systems Market-https://www.reportsanddata.com/report-detail/zero-liquid-discharge-systems-market
Translucent Concrete Market-https://www.reportsanddata.com/report-detail/translucent-concrete-market
Cellulose Acetate Market-https://www.reportsanddata.com/report-detail/cellulose-acetate-market
Flotation Reagents Market-https://www.reportsanddata.com/report-detail/flotation-reagents-market
Cyclopentane Market-https://www.reportsanddata.com/report-detail/cyclopentane-market
Styrene Butadiene Rubber Market-https://www.reportsanddata.com/report-detail/styrene-butadiene-rubber-sbr-market
Request a customization of the report: https://www.reportsanddata.com/request-customization-form/1910
Thank you for taking the time to read our article. The report can be tailored to the needs of the client. Please contact us for more details, and our team will tailor the report to your specific requirements.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
John W
(Head of Business Development)
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Blogs | Press Release | Industry News | Our competencies
Browse More Upcoming Reports @ https://www.reportsanddata.com/upcoming-reports
Browse More Latest Reports @ https://www.reportsanddata.com/report
Browse Latest Blogs: https://www.reportsanddata.com/blogs
Browse Latest Press Release: https://www.reportsanddata.com/press-release
