12-Feb-2019 | Zion Market Research
Zion Market Research has published a new report titled “Construction Lubricants Market by Type (Hydraulic Fluid, Engine Oil, Gear Oil, and Compressor Oil), by Base Oil (Mineral Oil and Synthetic Oil), and by Equipment Type (Earthmoving, Material Handling, and Heavy Construction Vehicles): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global construction lubricants market was valued at approximately USD 13 billion in 2018 and is expected to generate around USD 17 billion by 2025, at a CAGR of around 4.17% between 2019 and 2025.
Over the past decade, the construction sector in the emerging nations has witnessed drastic developments. The rapid urbanization coupled with industrialization is the primary factor that is likely to fuel the construction lubricants market globally over the forecast timeline. Construction lubricants are a mixture of additives and base oils. Additives are added as they help in enhancing or suppressing attributes of various base oils. Construction lubricants can be produced and generated with the base oils, such as synthetic oils. Construction lubricants are utilized mainly to minimize friction between surfaces or moving parts of any equipment and improve the equipment’s efficiency that is used by the construction sector. They also aid in minimizing wear and tear along with preventing corrosion and overheating. This, in turn, improves the efficiency of the equipment. The increasing demand for synthetic oil coupled with the rising demand for hydraulic fluid required for heavy earthmoving equipment is projected to further provide significant growth opportunities in the construction lubricants market over the estimated timeframe. However, the fluctuating crude oil prices may hinder the construction lubricants market growth in the future.
Browse the full “Construction Lubricants Market by Type (Hydraulic Fluid, Engine Oil, Gear Oil, and Compressor Oil), by Base Oil (Mineral Oil and Synthetic Oil), and by Equipment Type (Earthmoving, Material Handling, and Heavy Construction Vehicles): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/construction-lubricants-market
Based on the type, the construction lubricants market is segmented into hydraulic fluid, engine oil, gear oil, and compressor oil. The hydraulic fluid is expected to dominate the market, due to extensive product usage by heavy earth moving vehicles for enhancing work efficiency. On the basis of base oil, the market is categorized into mineral oil and synthetic oil. The synthetic oil is expected to dominate the market globally over the estimated timeframe, owing to its high performance and high drain interval than mineral oil. On the basis of application, the market for construction lubricants is fragmented into earthmoving, material handling, and heavy construction vehicles. The earthmoving segment is likely to dominate the market. Heavy earthmoving vehicles are used widely in the construction industry for heavy lifting and other activities, which is projected to contribute toward this segment’s growth in the upcoming years.
By region, Asia Pacific held an extensive revenue share of the global construction lubricants market and is expected to dominate the global market in the upcoming years. This can be attributed to the ongoing construction activities in the region, due to rapid industrialization and urbanization, and the rising investments made in the construction industry for infrastructural growth of the region. The North American region is expected to provide significant growth opportunities in the global construction lubricants market, owing to the increasing adoption of synthetic oil lubricants for construction equipment and heavy earthmoving vehicles and the ongoing developments regarding zinc-free lubricants
Some key players of the global construction lubricants market are Royal Dutch Shell, ExxonMobil, British Petroleum (BP), Chevron Corporation, Total S.A., PetroChina, LUKOIL, Indian Oil Corporation, Fuchs Petrolub SE, and Morris Lubricants, among others.
This report segments the global construction lubricants market into:
Global Construction Lubricants Market: Type Analysis
Global Construction Lubricants Market: Base Oil Analysis
Global Construction Lubricants Market: Equipment Type Analysis
Global Construction Lubricants Market: Regional Analysis
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