Construction Lubricants Market, by Type (Hydraulic Fluid, Engine Oil, Compressor Oil, Gear Oil, Automatic Transmission Fluid (ATF), Grease and Others), by Equipment Type (Excavators, Loaders, Crawler, Dozers, Motor Graders, Material Handling Equipment, and Heavy Construction Vehicles), by Formulation type (Conventional and Bio-based), by Sales Channel (Automatic Dealers, Independent Garages & Service Station, and Retailers/Auto Part Stores), By Product Type (Hydraulic Fluid, Engine Oil, Gear Oil, ATF, Compressor Oil, Grease, Others), By Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) – Market Size & Forecast 2021-2030

The Global Construction Lubricants Market size was valued at USD 6209.65 million, exhibiting a CAGR of 3.65% over the forecast period. A lubricant is a chemical that allows little and large machinery to operate more efficiently by allowing it to run smoothly. The building and construction industry uses a range of equipment that requires specialized lubrication to minimize breakdowns and site shutdowns. In the construction sector, routine equipment maintenance and lubrication are essential for ensuring equipment longevity, good operation, and high efficiency, as well as fuel savings.

In addition, the building and construction industry uses a range of items of equipment that require specialized lubrication to minimize malfunctions and work stoppages. Equipment maintenance and lubrication are crucial in the construction industry for extended equipment life, smooth operation, and high efficiency, as well as fuel savings. Construction lubricants are in high demand due to the global expansion of the construction sector and the concomitant addition of construction equipment to the current fleet. Lubricants such as gear oil, hydraulic oil, motor oil, and grease keep construction equipment running smoothly and help it last longer by reducing wear and corrosion. Due to rising construction and mining operations around the world, particularly in developing countries, building lubricants are likely to be in high demand.

TABLE 1: GLOBAL CONSTRUCTION LUBRICANTS MARKET OVERVIEW

TABLE 1: GLOBAL CONSTRUCTION LUBRICANTS MARKET OVERVIEW

Covid-19 Impact

In 2020, COVID 19 wreaked havoc on the global economy. The COVID 19 pandemic has impacted every industry. The pandemic had reached practically every market, and several governments had faced severe challenges in stopping the disease from spreading. The construction lubricants industry was severely impacted by flight bans and lockdown limitations. Disruptions in the supply chain and manufacturing units hampered the growth rate of every market during these challenging times. However, as governments throughout the world began to provide unlock rules, market share began to grow at a double-digit rate.

Global Construction lubricants market, by Base Oil

Based on Base Oil, the global Construction lubricants market is segmented into Synthetic Oil and Mineral Oil. Mineral oil is widely available, and because to its low cost and ease of use, it is likely to dominate the construction lubricants market over the forecast period. Although synthetic oil-based lubricants have a number of advantages over mineral oil-based lubricants, such as greater shear stability and drain intervals, a higher viscosity index, and superior chemical resistance, they do have some drawbacks.

Global Construction lubricants market, by Product Type

Based on the ProductType, the market is segmented into Hydraulic Fluid, Engine Oil, Compressor Oil, Gear Oil, Automatic Transmission Fluid (ATF), Grease and Others. By volume, hydraulic fluid is the most utilised type of construction lubricant. Hydraulic fluid is widely utilised in construction for power transmission and lubrication in a variety of heavy-duty equipment. Hydraulic fluid is the most common product type category in the construction lubricants market in terms of volume. The need for hydraulic fluid for usage in heavy-duty construction equipment is driving the construction lubricants industry.

Global Construction lubricants market, by Equipment Type

Based on the Equipment Type, the market is segmented into Excavators, Loaders, Crawler, Dozers, Motor Graders, Material Handling Equipment, and Heavy Construction Vehicles. Portable and compact machines are becoming increasingly popular in the building industry. Motor graders have a stronghold on the market and are the fastest-growing segment. Because of smaller gears and hydraulic equipment, as well as longer replacement intervals, the construction industry's lubricant consumption has decreased.

Global Construction lubricants market, by Formulation Type

Based on the Formulation type, the market is segmented into Conventional and Bio-based. The traditional category now leads the market and is expected to continue to do so during the forecast period.

Global Construction lubricants market, by Sales Channel

Based on the Sales Channel, the market is segmented into Automatic Dealers, Independent Garages & Service Station, and Retailers/Auto Part Stores. The market is dominated by the Retailers/Auto Part Stores category. During the forecast period, it is the fastest increasing segment.

Global Construction lubricants market, by Region

Based on the region, the global access control system market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa and South America.

Over the previous decade, construction investment in this region has steadily increased from both domestic and international sources. Furthermore, growing construction activity, particularly in China's residential sector, as well as increased spending on infrastructure development in India, are driving the construction lubricants market. North America dominates the market because to its significant market share in expanding automation in the construction industry, which would increase demand for machine lubricants in the region. The Asia-Pacific region is predicted to grow at the quickest rate due to the expansion in the workforce in emerging countries. As a result, the region's building construction will increase. In terms of consumption, Asia-Pacific accounted for a significant percentage of the worldwide construction lubricants market in 2021. The Asia-Pacific construction lubricants market is predicted to increase steadily over the forecast period. The construction lubricants market is being driven by strong industrial growth, which is being fuelled by rapid economic growth and the rise of a sizable middle class in China, Japan, South Korea, and India. Domestic and international investment in the building industry in Asia-Pacific has gradually expanded over the previous decade.

TABLE 2: GLOBAL CONSTRUCTION LUBRICANTS MARKET OVERVIEW

TABLE 2: GLOBAL CONSTRUCTION LUBRICANTS MARKET OVERVIEW

 

Major Companies: Royal Dutch Shell(London), Exxonmobil (Irving, Texas), British Petroleum (BP) (London), Chevron Corporation(San Ramon, California), Total(French ), Petrochina Company(Beijing), Lukoil (Moscow), Indian Oil Corporation(New Delhi), Sinopec(Shanghai ), Fuchs Petrolub SE(Germany)

Market Segmentation:

By Product Type:

  • Hydraulic Fluid
  • Engine Oil
  • Gear Oil
  • ATF
  • Compressor Oil
  • Grease
  • Others

By Equipment Type:

  • Excavators
  • Loaders
  • Crawler
  • Dozers
  • Motor Graders
  • Material Handling Equipment
  • Heavy Construction Vehicles

By Formulation type:

  • Conventional
  • Bio-based

By Sales Channel:

  • Automatic Dealers
  • Independent Garages & Service Station
  • Retailers/Auto Part Stores

 By Region:

  • North America 
  • Europe 
  • Asia Pacific
  • Middle East & Africa
  • South America

CONSTRUCTION LUBRICANTS MARKET

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