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.
New York, March 31, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the launch of the “Construction Lubricants Market by Base Oil, Type, Equipment and Region – Global Forecast to 2027” report – https:/ /www.reportlinker. com/p05382295/?utm_source=GNW
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 fluids 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 – 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.
Coverage of the investigation
This research report classifies the construction lubricants market by base oil (mineral oil and synthetic oil), type (hydraulic fluid, motor oil, gear oil, automatic transmission fluid, grease, compressor oil and others), equipment (earthmoving equipment, material handling). equipment, heavy construction vehicles and others) and region (Asia Pacific, North America, Europe, Middle East and Africa and South America). The scope of the report includes detailed information on the major factors such as drivers, restraints, challenges, and opportunities influencing the growth of the Construction Lubricants market.
A detailed analysis of key industry players has been done to provide insight into their business overview, solutions and services; key strategies; contracts, partnerships, agreements, new product and service launches, mergers and acquisitions, and recent developments associated with the construction lubricants market. The competitive analysis of upcoming startups in the construction lubricants market ecosystem is covered in this report.
Reasons to buy this report:
The report will help market leaders/new entrants with information on the nearest approximations of the revenue figures for the global Construction Lubricants market and sub-segments. This report will help stakeholders understand the competitive landscape and gain more information to better position and plan their businesses. appropriate market exit strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides information on the following points:
• Analysis of key drivers (high growth of construction industry in Asia Pacific and Middle East and Africa region, increasing demand for high quality lubricants and increasing automation in construction industry), restraints (technological advances), opportunities (developing zinc-free (ashless) lubricants and leveraging the e-commerce industry to increase customer reach) and challenges (increasing raw material prices and maintaining product quality and standards strict environmental regulations by the government) that influence the growth of the construction lubricants market.
• Product Development/Innovation: Detailed information on upcoming technologies, research and development activities and new product and service launches in the construction lubricants market
• Market Development – Comprehensive Insights into Lucrative Markets – The report analyzes the construction lubricants market in different regions
• Market Diversification: Comprehensive information on new products and services, untapped geographies, recent developments and investments in the construction lubricants market.
• Competitive Assessment – In-depth assessment of market shares, growth strategies and service offerings of major players such as 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
Read the full report: https://www.reportlinker.com/p05382295/?utm_source=GNW
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