Global Construction Lubricants Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
MarketResearch.biz delivers in-depth insights on the global construction lubricants market in its upcoming report titled, “Global Construction Lubricants Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global construction lubricants market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global construction lubricants market report has been segmented on the basis of base oil, product type, and region.
Construction lubricants are specialty lubricants used in various construction equipment, for a variety of purposes. In the construction industry, use of proper constriction lubricants is essential as to lower operating costs, reduce downtime of equipment, and to maximize equipment availability. Customers need a reliable lubricant supply for remote projects or increased equipment availability, in order to maintain proper profit margins. Hence, use of appropriate lubricants can significantly reduce costs by cutting unplanned equipment downtime, thereby lowering maintenance costs and increasing equipment life and availability.
Rapid industrialization in emerging economies across the global, especially in countries in the Asia Pacific region is a major factor driving demand for construction lubricants which in turn is fueling growth of the global construction lubricants market. In addition, developments in construction lubricants that offer various benefits and contain minimal volatile organic compounds (VOCs) are other major factors anticipated to boost growth of the global construction lubricants market over the forecast period.
However, high costs associated with production of certain construction lubricants is a major factor restraining growth of the global construction lubricants market. Additionally, stringent environmental regulations limiting use of certain construction lubricants is another factor expected to hamper growth of the global construction lubricants market over the forecast period.
A major and rising trend in the global market is increasing adoption of eco-friendly construction lubricants that contain low VOC content, owing to stringent government and environmental regulations. This is another factor anticipated to fuel growth of the global market to a significant extent over the forecast period.
Currently, the market in Asia Pacific dominates the global construction lubricants market in revenue terms owing to rapid industrialization in emerging economies such as China, India, and South Korea. The market in North America accounted for second-highest revenue share in the global construction lubricants market, due to high expenditure by governments of countries for development of infrastructure in the region, followed by markets in Europe, Middle East & Africa, and Latin America respectively. The market in Asia Pacific is projected to witness fastest growth in terms of revenue, owing to increasing government initiatives for improvement of infrastructure and increasing foreign direct investment (FDI) into construction sectors in emerging economies in the region.
Global construction lubricants market segmentation:
By base oil:
- Mineral Oil
- Synthetic Oil
By product type:
- Hydraulic Fluid
- Engine Oil
- Gear Oil
- Compressor Oil
- Others (Brake Fluid, Rock Drill Oil, and Chain & Cable Fluid)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Royal Dutch Shell Plc.
- Exxon Mobil Corporation
- Chevron Corporation
- Total S.A.
- PetroChina Company Limited
- China Petroleum & Chemical Corporation (Sinopec)
- The PJSC Lukoil Oil Company
- Indian Oil Corporation Limited
- Fuchs Petrolub SE
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