Construction Lubricants Market: Current Analysis and Forecast (2021-2027)
$3999 – $7577
Emphasis on Base Oil (Mineral Oil and Synthetic Oil); Type (Hydraulic Fluid, Engine Oil, Gear Oil, Transmission Fluid, Grease, Compressor Oil, and Others); Equipment (Earth Moving Equipment, Material Handling Equipment, Heavy Construction Vehicle, and Others); and Region and Country
Detailed Analysis of COVID-19 Impact on the Construction Lubricants Market
The global Construction Lubricants Market is likely to showcase a growth of around 4% during the forecast period. Over the years mechanization of industries played a pivoted role in building up the market of lubricants as they improve the equipment life and aids in maintaining efficiency for a longer time due to their properties which helps in reducing the friction, heat, and wear between the mechanical components that are in contact with each other. The construction industry is one of the prominent consumers of lubricants capturing a significant portion of the pie in the global lubricants market. The industry uses heavy equipment like earth moving equipment, material handling equipment, and construction vehicles. These types of equipment are commonly operated in harsh conditions resulting in more wear and tear, therefore, to operate efficiently, equipment frequently requires lubricants. Moreover, the construction activity in developing economies are growing at a rapid rate thus increasing the demand for construction equipment, thereby increasing the lubricant consumption.
Insights Presented in the Report
“Amongst base oil, mineral oil held a prominent share in the market in 2020”
Based on the base oil, the market is categorized into mineral and synthetic oils. Of both, mineral oil accounted for a significant share in the market and is likely to maintain its position during the forecast period. Mineral oil may fall in either of these three: group I, group II, and group III. Currently, group II mineral oil is widely consumed owing to its higher efficiency and lower emission. Further, industries are finding it easy to transit from group I base oil to group II base oil by changing work techniques, working with new base oil manufacturers, and changing equipment compared to group IV which is fully synthetic oil, resulting in a higher share of mineral oil.
“Amongst type, hydraulic fluid accounted for a significant share in 2020”
Based on type, the market is categorized into hydraulic fluid, engine oil, gear oil, transmission fluid, grease, compressor oil, and others. Among these, the hydraulic fluid category held a significant market share owing to a large number of construction equipment in developed countries and growing demand for equipment in developing countries like China and India. Since equipment with hydraulic functionality or machinery shares a significant portion of construction equipment, thereby accounts for higher lubricant consumption.
“Asia-Pacific accounted for a considerable share in the global construction lubricants market”
For a better understanding of the market adoption of construction lubricants, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific accounted for a significant share of the market and is expected to showcase substantial growth during the forecast period owing to increasing construction activities in countries like China and India. Further, governments of several regional economies are investing heavily to improve the nation’s infrastructure. Owing to such factors, demand for construction equipment and the vehicle is increasing in the region, thereby increasing the demand for lubricants.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive country-level analysis of the industry
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|1.1. Market Definitions|
|1.3. Stake Holders|
|1.4. Currency used in Report|
|2.1. Research Process of the Construction Lubricants Market|
|2.2. Research Methodology of the Construction Lubricants Market|
|2.3. Forecasting Method|
|2.4. Respondent Profile|
|2.5. Main Objective of the Construction Lubricants Market Study|
|3. MARKET SYNOPSIS|
|4. EXECUTIVE SUMMARY|
|5. GLOBAL CONSTRUCTION LUBRICANTS MARKET COVID-19 IMPACT|
|6. GLOBAL CONSTRUCTION LUBRICANTS MARKET REVENUE (USD MN), 2019-2027F|
|8.1. Hydraulic Fluid|
|8.2. Engine Oil|
|8.3. Gear Oil|
|8.4. Transmission Fluid|
|8.6. Compressor Oil|
|9.1. Earth Moving Equipment|
|9.2. Material Handling Equipment|
|9.3. Heavy Construction Vehicle|
|10.1. North America Construction Lubricants Market|
|10.1.1. United States|
|10.1.3. Rest of North America|
|10.2. Europe Construction Lubricants Market|
|10.2.3. United Kingdom|
|10.2.6. Rest of Europe|
|10.3. Asia Pacific Construction Lubricants Market|
|10.3.5. Rest of Asia Pacific|
|10.4. Rest of World Construction Lubricants Market|
|11.1. Market Drivers|
|11.2. Market Challenges|
|11.3. Impact Analysis|
|12. CONSTRUCTION LUBRICANTS MARKET OPPORTUNITIES|
|13. CONSTRUCTION LUBRICANTS MARKET TRENDS|
|14.1. Demand Side Analysis|
|14.2. Supply Side Analysis|
|15. VALUE CHAIN ANALYSIS|
|16.1. Porters Fiver Forces Analysis|
|16.1.1. Bargaining Power of Buyer|
|16.1.2. Bargaining Power of Supplier|
|16.1.3. Intensity of Rivalry|
|16.1.4. Threats of New Entrant|
|16.1.5. Threat of Substitute|
|17.1. Chevron Corporation|
|17.2. British Petroleum Plc.|
|17.3. Exxon Mobil Corporation|
|17.4. PetroChina Company Limited|
|17.5. Royal Dutch Shell Plc.|
|17.6. TotalEnergies SE|
|17.7. The Idemitsu Kosan Company Ltd.|
|17.8. China Petroleum & Chemical Corporation|
|17.9. The PJSC Lukoil Oil|
|17.10. Fuchs Petrolub SE|
Research Methodology for Global Construction Lubricants Market Analysis (2019-2027)
Analyzing the historical market, estimating the current market, and forecasting the future market of construction lubricants, three major steps are undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the construction lubricants industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of construction lubricants through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the construction lubricants market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. The major segment is included in the report by base oil, type, and equipment. Further regional and country-level analyses were conducted to evaluate the overall adoption of construction lubricants globally.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of construction lubricants. Further, we conducted factor analysis using dependent and independent variables such as rising construction activities and increasing demand for high-quality construction equipment. A thorough analysis was conducted for demand and supply-side scenarios considering an increasing investment, top partnerships, mergers and acquisitions, business expansion, and product launches in the Construction Lubricants industry.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Construction Lubricants market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the bottom-up approach were applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of construction lubricants across the major markets
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the construction lubricants market. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants by Stakeholders and Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Construction Lubricants market. Data was split into several segments & sub-segments post studying various parameters and trends in the area of base oil, type, and equipment.
The main objective of the Construction Lubricants market study
The current & future market trends of global construction lubricants were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of construction lubricants in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segment in the study include the area of base oil, type, and equipment
- Defined analysis of the regulatory framework for the construction lubricants industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of construction lubricants for the major countries
- Major regions/countries analyzed in the report include North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World
- Company profiles of the construction lubricants market players and the growth strategies adopted by them to sustain in the growing market
- Deep dive country-level analysis of the industry