Dublin, March 31, 2023 (GLOBE NEWSWIRE) — The “Construction Lubricants Market by Base Oil (Mineral Oil, Synthetic Oil), Type (Hydraulic Fluid, Engine Oil, Gear Oil, ATF, Grease, Oil of Compressor), Equipment (Earthmoving). Added to the report , Material Handling, Heavy Construction) and Region – Global Forecast to 2027 ResearchAndMarkets.com’s offers
The construction lubricants market is expected to grow from USD 9 billion in 2022 to USD 10.6 billion in 2027, at a CAGR of 3.3% during the forecast period.
Construction lubricants are widely used in the construction and mining industries. It is used in various construction equipment such as excavators, dump trucks, draglines, scrapers and shovels and other heavy equipment. It consists of additives and base oil that are mixed. These lubricants help bulky equipment perform its tasks under extreme conditions, such as dirt and water contamination and excessive wear.
The mineral oil segment is expected to account for the largest share in 2021
This is attributed to the fact that mineral oil based construction lubricants are cheaper than synthetic oil based construction lubricants. Mineral oil costs 40% to 50% less than synthetic oil. Therefore, mineral oil is widely used in price-sensitive regions such as the Middle East and Africa, Asia Pacific and South America. However, the mineral oil segment is expected to register slower growth in developed regions due to growing environmental concerns and government regulations.
The hydraulic fluids segment held the second largest market share in the construction lubricants market.
The growth of the hydraulic fluids segment in the construction lubricants market is attributed to the high demand from the Asia Pacific and Middle East and Africa region and its growing construction industry. This high growth is due to the increased consumption of hydraulic fluid in developing countries such as China, India and South Korea. Increasing private and government spending on infrastructure development projects is one of the major factors driving the market.
North America is expected to hold the second largest market share in 2021.
North America was the second largest market for construction lubricants, in terms of value, in 2021. Growth is attributed to advanced infrastructure construction and government support in commercial and residential projects fueling the lubricants market of construction in North America. The increasing number of construction projects in Mexico and the US and the need to renew infrastructure in Canada are expected to increase the demand for construction lubricants in this region. The strong position of construction equipment manufacturers is driving the market in North America.
The breakdown of the profile of the main participants in the C4ISR market:
- By type of company: Level 1 – 35%, Level 2 – 45% and Level 3 – 20%
- By designation: Level C l- 35%, Director Level – 25%, Others – 40%
- By region: North America – 40%, Europe – 20%, Asia Pacific – 30%, Middle East – 5% and South America – 5%
Key players profiled in the report include Shell plc (UK), ExxonMobil Corporation (US), BP plc (UK), Chevron Corporation (US), TotalEnergies SE (France), Sinopec Corp. (China), FUCHS Petrolub SE (Germany). ), and Petronas (Malaysia), among others.
Market dynamics
drivers
- High growth of the construction industry in the Asia-Pacific and the Middle East and Africa region
- Growing demand for high quality lubricants
- Increased automation in the construction sector
restrictions
- Technological advances
opportunities
- Development of zinc-free (ashless) lubricants.
- Leverage the e-commerce industry to increase customer reach
challenges
- Increase in the prices of raw materials
- Maintenance of product quality and strict environmental regulations by governments
Key Attributes:
| Report attribute | Details |
| Number of pages | 246 |
| Forecast period | 2022-2027 |
| Estimated market value (USD) in 2022 | 9 billion dollars |
| Projected market value (USD) for 2027 | 10.6 billion dollars |
| Compound annual growth rate | 3.3% |
| Regions covered | global |
Key topics covered:
1. Introduction
2 Research methodology
3 Executive summary
4 Insights Premium
5 Overview of the market
6 Trends in the sector
7 Construction lubricants market, by base oil
7.1 Introduction
7.2 Mineral oil
7.3 Synthetic oil
8 Construction Lubricants Market, by Type
8.1 Introduction
8.2 Hydraulic fluid
8.3 Engine oil
8.4 Gear oil
8.5 Automatic Transmission Fluid (ATF)
8.6 Fat
8.7 Compressor oil
8.8 Others
9 Lubricants market for construction, by equipment
9.1 Introduction
9.2 Earthmoving equipment
9.3 Materials handling equipment
9.4 Vehicles of heavy construction
9.5 Others
10 Construction lubricants market, by region
11 Competitive landscape
12 company profiles
13 Adjacent and related markets
14 Appendix
Companies mentioned
- Addinol Lube Oil GmbH
- Bel-Ray Company, LLC.
- BP PLC
- Chevron Corporation
- Dyad lubricants
- Eneos Holdings, Inc.
- ENI SPA
- ExxonMobil Corporation
- Fuchs Petrolub SE
- Indian Oil Corporation Limited
- Kluber Lubrication
- Liquid Moly GmbH
- Lubriplate Lubricants Company
- Lukoil
- Morris lubricants
- Penrite Oil Company
- pertamina
- Petro-Canada Lubricants Inc.
- Petronas
- Phillips 66
- Sasol Limited
- Shell plc
- Sinopec Corp.
- Totalenergies SE
- USA Lubricants
For more information on this report, visit https://www.researchandmarkets.com/r/ts21uw
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Global construction lubricants market
