Dublin, Sept. 02, 2021 (GLOBE NEWSWIRE) -- The "Construction Lubricants Market by Base Oil (Synthetic Oil, Mineral Oil), Type (Hydraulic Fluid, Engine Oil, Compressor Oil, Gear Oil), Equipment Type (Earthmoving, Material Handling, Heavy Construction Vehicle) - Global Forecasts to 2026" report has been added to ResearchAndMarkets.com's offering.
The construction lubricants market is estimated to grow to USD 6.5 billion by 2026 from USD 5.6 billion in 2021, at a CAGR of 3.0%
. The construction lubricants market is driven mainly by growing demand for construction industry. However, strict government regulations is expected to restrain the market growth.
There has been massive industrial growth in APAC since the past few years, and this is expected to continue during the next five years. The domestic and foreign investments in the construction industry have been consistently growing over the past decade in the region, which is fueling the growth of the construction lubricants market.
The construction industry in the Middle East & Africa is also experiencing high growth, driving the demand for construction lubricants. The outlook on industrialization in Sub-Saharan Africa is positive, which is driving the construction lubricants market
"Hydraulic fluid is expected to be the largest lubricant type of the construction lubricants market, in terms of value, between 2021 and 2026"
Hydraulic fluid lubricant type holds the highest share in the overall market in terms of volume and value for the forecast period. Hydraulic fluid is mainly used for power transmission and lubrication in various heavy load equipment in the construction industry. Hence, to avoid equipment failure, the operator needs to have high-quality hydraulic fluid. This drives the hydraulic fluid consumption in the construction industry.
"High economic growth in APAC to drive the demand for construction lubricants in the region."
APAC is the largest market for construction lubricants, and it is mainly attributed to high economic growth rate, followed by heavy investment across industries such as oil & gas, automotive, infrastructure, chemical, and steel & military among others. With economic contraction and saturation in the European and North American markets, the demand is shifting to the APAC region.
Construction lubricants manufacturers are targeting this region as it is the strongest regional market for various applications, like growing demand for infrastructure, construction and automotive industry. The advantage of shifting production to the Asian region is that the cost of production is low here. Also, it is easier to serve the local emerging market.
The construction lubricants market is dominated by key market players such as Royal Dutch Shell plc (Netherlands), ExxonMobil Corporation (US), BP plc (UK), Chevron Corporation (US), TotalEnergies S.E. (France), Lukoil (Russia), and Fuchs Petrolub SE (Germany).
High Growth of Construction Industry in APAC and Middle East & Africa
Growing Demand for High-Quality Lubricants
Rise in Automation in Construction Industry
Downfall Due to COVID-19
Development of Zinc-Free (Ashless) Lubricants
Volatility in Raw Material Prices
Maintaining Product Quality
Supply Chain Analysis
Manufacturing of Construction Lubricants
Distribution to End-users
Construction Lubricants Market: Realistic, Pessimistic, Optimistic, and Non-COVID-19 Scenario
Trends/Disruptions Impacting Customer's Business
Revenue Shifts & Revenue Pockets for Construction Lubricants Market
Connected Markets: Ecosystem
Case Study Analysis
Case Study on Reduced Hydraulic Fluid Consumption
Case Study on Controlling Corrosion
Patents Registered for Construction Lubricants, 2010-2020
Patents Publication Trends for Construction Lubricants, 2010-2020
35 Maximum Patents Filed by Companies in China
Nisan Kogyo Registered Maximum Number of Patents Between 2010 and 2020
Top 10 Patent Owners in US, 2010-2020
Addinol Lube Oil Gmbh
Bel Ray Company LLC.
China Petrochemical Corporation (Sinopec Corp.)
Fuchs Petrolub Se
Indian Oil Corporation
Liqui Moly Gmbh
Lubriplate Lubricants Company
Petro-Canada Lubricants Inc.
Petrochina Company Limited
Phillips 66 Company
Royal Dutch Shell plc
For more information about this report visit https://www.researchandmarkets.com/r/i3jyls
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