The Construction Lubricants by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Construction Lubricants , The construction lubricants market size has grown strongly in recent years. It will grow from $12.97 billion in 2023 to $13.95 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to infrastructure boom, urbanization trends, industrialization, global economic growth.
The construction lubricants market size is expected to see strong growth in the next few years. It will grow to $18 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to smart construction practices, sustainable construction, digitalization in construction equipment, emerging markets. Major trends in the forecast period include green lubricants, customized formulations, collaborations and partnerships, rise of synthetic lubricants, market expansion in asia-pacific.
A rise in construction and mining activities is significantly contributing to the growth of the construction lubricants market. Construction lubricant is a substance that lowers friction between surfaces in contact, consequently lowering the amount of heat generated while the movement on the surface. Lubricating oil is largely used in marine engines, automobiles, and other machinery. For instance, the mining and construction equipment industry in India is likely to grow by 15-20% in the calendar year 2021 and 5-10% in the year 2022. The first quarter of 2021 is estimated to have reported a strong equipment demand growth of 45-50%. These factors are expected to significantly drive the construction lubricants market.
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The construction lubricants market covered in this report is segmented –
1) By Basis Type: Hydraulic Fluid, Engine Oil, Gear Oil, Automatic Transmission Fluid (ATF), Grease, Compressor Oil
2) By Base Oil: Synthetic Oil, Mineral Oil
3) By Application: Earthmoving Equipment, Material Handling Equipment, Heavy Construction Vehicles, Other Applications
Top Major Players
ExxonMobil Corporation
Royal Dutch Shell plc
TotalEnergies SE
China Petrochemical Corporation (Sinopec)
Chevron Corporation
The development of zinc-free (ashless) lubricants is a key trend in the construction lubricants industry. Construction lubricants are a type of lubricant used to reduce friction between moving parts or surfaces and to enhance the efficiency of the machines used in the construction industry. Lubricants with zinc levels that are too high have a history of leading to the corrosion of some metals, such as yellow metals, as they chemically attack the metal surfaces, along with environmental harm. Zinc-free lubricants, on the other hand, have an outstanding ability to prevent wear, rust, foam, oxidation, air, and water entrainment and provide excellent thermal stability. For instance, the formulation of the zinc-free lubricants reduces sludge by 85 to 99.5%, retains more viscosity, reduces metal wear by 04-06%, and extends the useful service life to at least twice that of the ZDDP-based hydraulic oil.
The construction lubricants market report table of contents includes:
1. Executive Summary
2. Construction Lubricants Market Characteristics
3. Construction Lubricants Market Trends And Strategies
4. Construction Lubricants Market – Macro Economic Scenario
5. Global Construction Lubricants Market Size and Growth
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31. Global Construction Lubricants Market Competitive Benchmarking
32. Global Construction Lubricants Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Construction Lubricants Market
34. Construction Lubricants Market Future Outlook and Potential Analysis
35. Appendix
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