Construction Lubricants Market by Base Oil (Mineral Oil, Synthetic Oil), Type (Hydraulic Fluid, Engine Oil, Gear Oil, ATF, Grease, Compressor Oil), Equipment (Earthmoving, Material Handling, Heavy Construction), and Region - Global Forecast to 2027

The construction lubricants market is projected to grow from USD 9.0 Billion in 2022 to USD 10.6 Billion by 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, including bulldozers, dump trucks, draglines, scrapers & shovels, and other heavy equipment. It consists of additives and base oil that are mixed together. These lubricants help the bulky equipment carry out their tasks in extreme conditions, such as dirt & water contamination and excessive wear & tear.

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 are 40% - 50% less than synthetic oil. Thus, mineral oil is broadly used in price-sensitive regions like the Middle East & Africa, Asia Pacific, and South America. However, the mineral oil segment is projected to register slower growth in developed regions due to growing environmental concerns and government regulations.

The hydraulic fluid segment held the second-largest market share in the construction lubricants market

The growth of the hydraulic fluid segment in the construction lubricants market is attributed to the huge demand from the Asia Pacific and the Middle East & Africa region and its growing construction industry. This high growth is because of the increased consumption of hydraulic fluid in developing countries such as China, India, and South Korea. Rising private and government spending on infrastructural development projects is one of the major factors driving the market.

North America is expected to account for the second-largest market share in 2021

North America was the second-largest construction lubricants market, in terms of value, in 2021. The growth is attributed to the advanced infrastructural construction and government support in commercial and residential projects that fuel the construction lubricants market in North America. The growing number of construction projects in Mexico and the US and the need to renovate infrastructure in Canada is expected to boost the demand for construction lubricants in this region. The strong foothold of the construction equipment manufacturers is driving the market in North America.

The break-up of the profile of primary participants in the C4ISR market:

By Company Type: Tier 1– 35%, Tier 2– 45%, and Tier 3– 20%

By Designation: C Level– 35%, Director Level– 25%, Others- 40%

By Region: North America– 40%, Europe– 20%, Asia Pacific– 30%, Middle East– 5%, and South America– 5%

The key players profiled in the report include Shell plc (UK), ExxonMobil Corporation(US), BP p.l.c. (UK), Chevron Corporation (US), TotalEnergies SE (France), Sinopec Corp. (China), FUCHS Petrolub SE (Germany), and Petronas (Malaysia), among others.

Research Coverage

This research report categorizes the construction lubricants market by base oil (mineral oil and synthetic oil), type (hydraulic fluid, engine 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 & Africa, and South America). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the construction lubricants market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; contracts, partnerships, agreements, new product & service launches, mergers and acquisitions, and recent developments associated with the construction lubricants market. 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 the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall construction lubricants market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market 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 insights on the following pointers:

Analysis of key drivers (high growth in the construction industry in Asia Pacific & Middle East & Africa region, growing demand for high-quality lubricants, and rise in automation in the construction industry), restraints (technological advancements), opportunities (development of zinc-free (ashless) lubricants and leveraging E-commerce industry to increase customer reach), and challenges (rising raw material prices and maintaining product quality and stringent environmental norms by the government) influencing the growth of the construction lubricants market

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the construction lubricants market

Market Development: Comprehensive information about lucrative markets – the report analyses the construction lubricants market across varied regions

Market Diversification: Exhaustive information about new products & 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 leading players like Shell plc (UK), ExxonMobil Corporation(US), BP p.l.c. (UK), Chevron Corporation (US), TotalEnergies SE (France), Sinopec Corp. (China), FUCHS Petrolub SE (Germany), and Petronas (Malaysia), among others