Data Bridge Market Research has recently added a concise research on Global Construction Lubricants Market to depict valuable insights related to significant market trends driving the industry. The report features analysis based on key opportunities and challenges confronted by market leaders while highlighting their competitive setting and corporate strategies for the estimated timeline. Some are the key & emerging players that are part of coverage and have being profiled are Morris Lubricants, Penrite Oil, Valvoline, Liqui Moly GmbH, ENI SPA, Addinol Lube Oil GmbH, Lubrication Engineers, Inc., FUCHS, Lubricating Specialties Company, Southern Lubrication (Pvt) Ltd., Schaeffer Manufacturing Co., AFRILUBE, Leahy-Wolf, QALCO and many more.
Lubricants are important for the proper functioning of a machine. The primary function of lubricants is to reduce friction and wear & tear. Lubricants secures against sludge formation and residual deposition over mechanical parts. Lubricants are also used to transfer heat as seals for gases, transmit power and prevent rust and corrosion. Lubricants are manufactured from base oils. The desired properties are imparted to lubricants by blending base oils with various additives such as viscosity index improvers, dispersants, and detergents. According to U.S. Census Bureau, in 2016, total spending rose up by 6.5% from the year 2015. In addition, in 2014, construction spending was up nearly 11.0% and in 2015 it raised 10.7%. According to U.S. Bureau of Labour Statistics, the construction sector will have one of the largest increment in real output and will reach almost USD 1.2 trillion by 2020. Moreover, the U.S. population is expected to grow from 321.2 billion to 338 billion by 2020 which would require more construction. The increasing construction sector around the globe will demand higher machinery equipment’s which requires the lubricants for proper functioning. Hence will drive the growth for construction lubricants.
Analysis of Global Construction Lubricants Market report:
The Global Construction Lubricants Market is expected to reach USD 15.86 billion by 2025, from USD 12.58 billion in 2017 growing at a CAGR of 4.2% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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- Growth of construction sector in APAC and the Middle East & Africa.
- Growing demand for high-quality lubricants
- Rise in automation in construction sector
- Technological advancements in construction lubricants
- Oil rejuvenation
Top Manufacturers Profiles Operating in the Global Construction Lubricants Market:
The key players operating in the global construction lubricants market are
- Royal Dutch Shell
- British Petroleum (BP)
- Chevron Corporation
The other players in the market are Petrochina Company, Lukoil, Indian Oil Corporation, Sinopec, Fuchs Petrolub SE, Phillips 66 Company, Bel-Ray Company LLC., Morris Lubricants, Penrite Oil, Valvoline, Liqui Moly GmbH, ENI SPA, Addinol Lube Oil GmbH, Lubrication Engineers, Inc., FUCHS, Lubricating Specialties Company, Southern Lubrication (Pvt) Ltd., Schaeffer Manufacturing Co., AFRILUBE, Leahy-Wolf, QALCO and many more.
Global Construction Lubricants Market Segmentation:
By Base Oil
- Mineral Oil
- Synthetic Oil
- Poly Alpha Olefin (PAO)
- Polyalkylene Glycol (PAG)
By Equipment Type
- Earthmoving Equipment
- Motor Graders
- Material Handling Equipment
- Heavy Construction Vehicles
- Compactors and Road Rollers
- Pavers/ Asphalt Finishers
- Tunneling Equipment and Machinery
By Product Type
- Hydraulic Fluid
- Engine Oil
- Gear Oil
- Automatic Transmission Fluid (ATF)
- Compressor Oil
- North America
- South America
- Asia Pacific
- Middle-east and africa
The global construction lubricants market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of construction lubricants market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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