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Construction Lubricants Market
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Construction Lubricants Market

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Construction Lubricants Market - Global Industry Size, Share, Trend Analysis, Outlook, Growth, Opportunity and Forecast, 2017-2027, Segmented By Base Oil (Mineral Oil, and Synthetic Oil [Polyalpha Olefin (PAO), Polyalkylene Glycol (PAG), Esters, and Group III]); By Type (Hydraulic Fluid, Engine Oil, Gear Oil, Automatic Transmission Fluid (ATF), Compressor Oil, Grease, and Others); By Equipment Type (Earthmoving Equipment [Excavators, Loaders, Crawler Dozers, Motor Graders, and Others], Material Handling Equipment, Heavy Construction Vehicles and Others); By Region (North America, Europe, the Asia-Pacific, Latin America, and the Middle East & Africa)

  • Published Date: October 2021
  • Report ID: BWC21137
  • Available Format: PDF
  • Page: 204

Report Overview

With urbanization and global economic recovery, the global construction industry is poised for tremendous development in the foreseeable future. The usage of construction lubricants is predicted to accelerate due to the enormous growth of the global construction industry.

Global Construction Lubricants Market- Industry Trends & Forecast Report 2027

The global construction lubricants market was worth USD 5.5 billion in 2020 and is further projected to reach USD 6.7 billion by 2027, at a CAGR of 3.0% during the forecast period (2021-2027). With urbanization and economic recovery, the global construction industry is poised for tremendous growth over the next few years. Increasing construction activities globally is increasing the use of construction lubricants. Growing infrastructure development in both established and emerging economies offers lucrative business opportunities for construction equipment makers, thus giving major players in the construction lubricants market significant growth opportunities.

Construction Lubricants Market

Source: BlueWeave Consulting

Global Construction Lubricants Market Overview

Construction lubricants are substances used for reducing friction between moving parts or surfaces and improve the performance of construction machinery. Lubricants come in various viscosities and are used on a variety of equipment in the construction and building industries. The main advantages of these construction lubricants are that they reduce machinery wear and tear and help to extend the equipment's life lifetime. A proper lubricant is essential to improve the reliability and productivity of construction equipment.

Global Construction Lubricants Market Trend

Growth Drivers

Product Innovation and Technological Advancement Play Vital Role in the Market Growth

Construction lubricants that are affordable and meet minimal requirements or standards are in high demand right now. As construction equipment is exposed to high temperatures and dust, consumers look for premium quality and effective lubricants. Increasing demand for innovative products leads to technological and product innovation. The business opportunity and improving product quality for the end-market is creating immense opportunities for the manufacturers of construction lubricants to focus on enhancing Zinc-Free (Ashless) lubricant technologies and growth. For instance, Afton Chemical offers a wide array of zinc-free lubricants, such as HiTEC 638. This additive is a neutral rust inhibitor for use in greases, R&O hydraulic oils, turbine oils, circulation oils, and other industrial lubricants requiring high filterability.

Restraints

Technological Advancements Restricting the Use of Construction Lubricants

Portable and small machinery are finding their way into the rapidly expanding construction business. Lubricant usage in the construction industry has declined due to the introduction of small gearboxes and hydraulic equipment and longer drain intervals. The construction sector is introducing new ideas and technology such as proactive lubricant life extension, optimizing relubrication intervals, reducing package waste (avoiding bulk purchases to save waste), and reducing leakage to reduce lubricant usage. By eliminating such technological advancements in the construction industry, the need for lubricants is projected to decrease.

Impact of COVID-19

The COVID-19 pandemic has negatively impacted the global construction lubricants market. Due to a scarcity of workforce and safety regulations imposed by governments and other regulatory organizations, most building activities were halted due to the pandemic. As a result, the need for construction lubricants has significantly fallen. On the other hand, the real estate sector is seeing a downturn as a result of the global economic slowdown due to the outbreak. This has also contributed to the market's reduced demand for construction lubricants.

Global Construction Lubricants Market: By Type

Based on types, the global construction lubricants market is segmented as hydraulic fluid, engine oil, gear oil, automatic transmission fluid (ATF), compressor oil, grease, and others. Hydraulic fluid has accounted for the significant market share in the global construction lubricants market in 2020 and is likely to dominate the segment during the forecast period. Hydraulic fluid is a type of lubricant that is used to keep hydraulic equipment running smoothly. Fluids perform three primary functions: energy transmission, lubrication, and heat removal. Hydraulic fluid can be used to avoid equipment failure, reduce downtime, and lower operating costs. Furthermore, it reduces the cost of maintaining high-speed gears and hydraulic equipment. The high demand from the APAC region and developing industries like automotive, construction, and manufacturing are driving the hydraulic fluid market forward.

 Construction Lubricants Market Share

Source: BlueWeave Consulting

Global Construction Lubricants Market: By Equipment Type

Based on the equipment type, the global construction lubricants market is fragmented into earthmoving equipment, material handling equipment, heavy construction vehicles, and others. Out of these, heavy construction vehicles hold the largest share in the global construction lubricants market in 2020 and are likely to remain dominant during the forecast period. Heavy construction equipment is exposed to harsh conditions, including extreme temperatures and heat, moisture, dust, and grime, all of which can degrade lubricant function and cause premature equipment failure. Due to the rising demand from the construction industry in emerging economies and developed nations, the market share of heavy construction in the segment is likely to push forward in the upcoming years.

Global Construction Lubricants Market: Regional Insights

Geographically, the global construction lubricants market is categorized into North America, Europe, the Asia-Pacific, the Middle East & Africa, and Latin America. Among all the regions, Asia-Pacific held the largest market share in the construction lubricants industry in 2020 and is likely to maintain its supremacy even during the forecast period. The growing number of projects in the construction lubricants sector, including dams, airports, and hydropower projects, has prompted several multinational corporations to establish manufacturing operations in this region. The Beijing New International Airport (China) and the South to North Water Transfer Project (China) are two notable instances of construction projects in the region. The Asia Pacific is also predicted to be the most populous globally, offering significant growth potential for the construction lubricants business.

Competitive Landscape

The construction lubricants market is highly fragmented due to the presence of numerous domestic and international players. Besides this, the emergence of new entrants has resulted in healthier competition among long-established service providers in the industry. Some key players in the global construction lubricants market are Royal Dutch Shell PLC, Exxonmobil Corporation, BP PLC, Chevron Corporation, Totalenergies SE, Petrochina Company Limited, China Petrochemical Corporation (Sinopec Corp.), Fuchs Petrolub SE, Lukoil, Phillips 66 Company, Bel Ray Company LLC., and other prominent players.

Recent Developments

In September 2021, Royal Dutch Shell plc (Shell) made a final investment decision to construct an 820,000-tonne-per-year biofuels facility at the Shell Energy and Chemicals Park Rotterdam, formerly known as the Pernis refinery, in the Netherlands. When completed, the facility will be one of the largest in Europe for producing sustainable aviation fuel (SAF) and renewable diesel from waste.

  • In October 2020, The FUCHS Group, a global lubricants company, acquired Welponer Srl's lubricants business in Bolzano, Italy. The company has now incorporated it into its subsidiary FUCHS LUBRIFICANTI S.P.A. as of October 1, 2020.

Scope of the Report

Attribute

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Billion

Market Coverage

U.S, Canada, France, Germany, United Kingdom, Rest of the Europe, Japan, China, India, New Zealand, Australia, Rest of the APAC, Brazil, Mexico, Rest of the Latin America, South Africa, Saudi Arabia, UAE, and Rest of MEA.

Product/Service Segmentation

By Base Oil, By Type, By Equipment Type, and By Region

Key Players

Royal Dutch Shell PLC, Exxonmobil Corporation, BP PLC, Chevron Corporation, Totalenergies SE, Petrochina Company Limited, China Petrochemical Corporation (Sinopec Corp.), Fuchs Petrolub SE, Lukoil, Phillips 66 Company, Bel Ray Company LLC., and other prominent players.

 

By Base Oil

      • Mineral Oil
      • Synthetic Oil
        1. Polyalpha Olefin (PAO)
        2. Polyalkylene Glycol (PAG)
        3. Esters
        4. Group III (Hydrocracking)

By Type

      • Hydraulic Fluid
      • Engine Oil
      • Gear Oil
      • Automatic Transmission Fluid (ATF)
      • Compressor Oil
      • Grease
      • Others

By Equipment Type

      • Earthmoving Equipment
        1. Excavators
        2. Loaders
        3. Crawler Dozers
        4. Motor Graders
        5. Others
      • Material Handling Equipment
      • Heavy Construction Vehicles
      • Others

 By Region

      • North America
      • Europe
      • The Asia-Pacific
      • Latin America
      • Middle East and Africa
  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Primary & Secondary Research Equipment Type
      2. Secondary Research
      3. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation
  3. Executive Summary
  4. Global Construction Lubricants Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
    3. Recent Development/Technological Advancements
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Equipment Type of Suppliers
      2. Bargaining Equipment Type of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  5. Global Construction Lubricants Market Overview
    1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Billion)        
    2. Market Share & Forecast
      1. By Base Oil
        1. Mineral Oil
        2. Synthetic Oil
          1. Polyalpha Olefin (PAO)
          2. Polyalkylene Glycol (PAG)
          3. Esters
          4. Group III (Hydrocracking)
      2. By Type
        1. Hydraulic Fluid
        2. Engine Oil
        3. Gear Oil
        4. Automatic Transmission Fluid (ATF)
        5. Compressor Oil
        6. Grease
        7. Others
      3. By Equipment Type
        1. Earthmoving Equipment
          1. Excavators
          2. Loaders
          3. Crawler Dozers
          4. Motor Graders
          5. Others
        2. Material Handling Equipment
        3. Heavy Construction Vehicles
        4. Others
      4.  By Region
        1. North America
        2. Europe
        3. The Asia-Pacific
        4. Latin America
        5. The Middle East and Africa
  6. North America Construction Lubricants Market  
    1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Base Oil
      2. By Type
      3. By Equipment Type
      4. By Country
        1. United States
        2. Canada
  7. Europe Construction Lubricants Market
    1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Base Oil
      2. By Type
      3. By Equipment Type
      4. By Country
        1. France
        2. Germany
        3. United Kingdom
        4. Rest of Europe
  8. Asia-Pacific Construction Lubricants Market
    1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Base Oil
      2. By Type
      3. By Equipment Type
      4. By Country
        1. Japan
        2. China
        3. India
        4. New Zealand
        5. Australia
        6. Rest of APAC
  9. Latin America Construction Lubricants Market
    1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Base Oil
      2. By Type
      3. By Equipment Type
      4. By Country
        1. Brazil
        2. Mexico
        3. Rest of Latin America
  10. Middle East & Africa Construction Lubricants Market
    1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Base Oil
      2. By Type
      3. By Equipment Type
      4. By Country
        1. South Africa
        2. Saudi Arabia
        3. UAE
        4. Rest of MEA
  11. Competitive Landscape
    1. Company Market Share Analysis, 2020
    2. Competitive Benchmarking, By Product Offerings
    3. List of Key Players and their Offerings
  12. Impact of COVID-19 across Industry
  13. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
    1. Royal Dutch Shell PLC
    2. Exxonmobil Corporation
    3. BP PLC
    4. Chevron Corporation
    5. Totalenergies SE
    6. Petrochina Company Limited
    7. China Petrochemical Corporation (Sinopec Corp.)
    8. Fuchs Petrolub SE
    9. Lukoil
    10. Phillips 66 Company
    11. Bel Ray Company LLC.
    12. Morris Lubricants
    13. Other Prominent Players
  14. Key Strategic Recommendations

 

*Financial details of unlisted companies will be available as per data availability in final deliverable

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable.

 

List of Figures

 

Fig 1: Global Construction Lubricants Segmentation

Fig 2: Global Construction Lubricants Market Value Chain Analysis

Fig 3: Company Market Share Analysis, 2020

Fig 4: Global Construction Lubricants Market Size, By Value (USD Billion), 2017-2027

Fig 5: Global Construction Lubricants Market Share, By Base Oil, By Value, 2017-2027

Fig 6: Global Construction Lubricants Market Share, By Type, By Value, 2017-2027

Fig 7: Global Construction Lubricants Market Share, By Equipment Type, By Value, 2017-2027

Fig 8: Global Construction Lubricants Market Share, By Region, By Value, 2017-2027

Fig 9: North America Construction Lubricants Market Size, By Value (USD Billion), 2017-2027

Fig 10: North America Construction Lubricants Market Share, By Base Oil, By Value, 2017-2027

Fig 11: North America Construction Lubricants Market Share, By Type, By Value, 2017-2027

Fig 12: North America Construction Lubricants Market Share, By Equipment Type, By Value, 2017-2027

Fig 13: North America Construction Lubricants Market Share, By Country, By Value, 2017-2027

Fig 14: Europe Construction Lubricants Market Size, By Value (USD Billion), 2017-2027

Fig 15: Europe Construction Lubricants Market Share, By Base Oil, By Value, 2017-2027

Fig 16: Europe Construction Lubricants Market Share, By Type, By Value, 2017-2027

Fig 17: Europe Construction Lubricants Market Share, By Equipment Type, By Value, 2017-2027

Fig 18: Europe Construction Lubricants Market Share, By Country, By Value, 2017-2027

Fig 19: the Asia-Pacific Construction Lubricants Market Size, By Value (USD Billion), 2017-2027

Fig 20: the Asia-Pacific Construction Lubricants Market Share, By Base-Oil, By Value, 2017-2027

Fig 21: the Asia-Pacific Construction Lubricants Market Share, By Type, By Value, 2017-2027

Fig 22: the Asia-Pacific Construction Lubricants Market Share, By Equipment Type, By Value, 2017-2027

Fig 23: the Asia-Pacific Construction Lubricants Market Share, By Country, By Value, 2017-2027

Fig 24: Latin America Construction Lubricants Market Size, By Value (USD Billion), 2017-2027

Fig 25: Latin America Construction Lubricants Market Share, By Base-Oil, By Value, 2017-2027

Fig 26: Latin America Construction Lubricants Market Share, By Type, By Value, 2017-2027

Fig 28: Latin America Construction Lubricants Market Share, By Equipment Type, By Value, 2017-2027

Fig 29: Latin America Construction Lubricants Market Share, By Country, By Value, 2017-2027

Fig 30: The Middle East & Africa Construction Lubricants Market Size, By Value (USD Billion), 2017-2027

Fig 31: The Middle East & Africa Construction Lubricants Market Share, By Base-Oil, By Value, 2017-2027

Fig 32: The Middle East & Africa Construction Lubricants Market Share, By Type, By Value, 2017-2027

Fig 33: The Middle East & Africa Construction Lubricants Market Share, By Equipment Type, By Value, 2017-2027

Fig 34: The Middle East & Africa Construction Lubricants Market Share, By Country, By Value, 2017-2027

 

List of Tables

 

Table 1: Global Construction Lubricants Market Size, By Base-Oil, By Value, 2017-2027

Table 2: Global Construction Lubricants Market Size, By Type, By Value, 2017-2027

Table 3: Global Construction Lubricants Market Size, By Equipment Type, By Value, 2017-2027

Table 4: Global Construction Lubricants Market Size, By Region, By Value, 2017-2027

Table 5: North America Construction Lubricants Market Size, By Base-Oil, By Value, 2017-2027

Table 6: North America Construction Lubricants Market Size, By Type, By Value, 2017-2027

Table 7: North America Construction Lubricants Market Size, By Equipment Type, By Value, 2017-2027

Table 8: North America Construction Lubricants Market Size, By Country, By Value, 2017-2027

Table 9: Europe Construction Lubricants Market Size, By Base-Oil, By Value, 2017-2027

Table 10: Europe Construction Lubricants Market Size, By Type, By Value, 2017-2027

Table 11: Europe Construction Lubricants Market Size, By Equipment Type, By Value, 2017-2027

Table 12: Europe Construction Lubricants Market Size, By Country, By Value, 2017-2027

Table 13: the Asia-Pacific Construction Lubricants Market Size, By Base-Oil, By Value, 2017-2027

Table 14: the Asia-Pacific Construction Lubricants Market Size, By Type, By Value, 2017-2027

Table 15: the Asia-Pacific Construction Lubricants Market Size, By Equipment Type, By Value, 2017-2027

Table 16: the Asia-Pacific Construction Lubricants Market Size, By Country, By Value, 2017-2027

Table 17: Latin America Construction Lubricants Market Size, By Base-Oil, By Value, 2017-2027

Table 18: Latin America Construction Lubricants Market Size, By Type, By Value, 2017-2027

Table 19: Latin America Construction Lubricants Market Size, By Equipment Type, By Value, 2017-2027

Table 20: Latin America Construction Lubricants Market Size, By Country, By Value, 2017-2027

Table 21: The Middle East & Africa Construction Lubricants Market Size, By Base-Oil, By Value, 2017-2027

Table 22: The Middle East & Africa Construction Lubricants Market Size, By Type, By Value, 2017-2027

Table 23: The Middle East & Africa Construction Lubricants Market Size, By Equipment Type, By Value, 2017-2027

Table 24: The Middle East & Africa Construction Lubricants Market Size, By Country, By Value, 2017-2027

Table 25: Royal Dutch Shell PLC Business Overview

Table 26: Royal Dutch Shell PLC Financial Analysis

Table 27: Exxonmobil Corporation Business Overview

Table 28: Exxonmobil Corporation Financial Analysis

Table 29: BP PLC Business Overview

Table 30: BP PLC Financial Analysis

Table 31: Chevron Corporation Business Overview

Table 32: Chevron Corporation Financial Analysis

Table 33: Totalenergies SE Business Overview

Table 34: Totalenergies SE Financial Analysis

Table 35: Petrochina Company Limited Business Overview

Table 36: Petrochina Company Limited Financial Analysis

Table 37: China Petrochemical Corporation (Sinopec Corp.) Business Overview

Table 38: China Petrochemical Corporation (Sinopec Corp.) Financial Analysis

Table 39: Fuchs Petrolub SE Business Overview

Table 40: Fuchs Petrolub SE Financial Analysis

Table 41: Lukoil Business Overview

Table 42: Lukoil Financial Analysis

Table 43: Phillips 66 Company Business Overview

Table 44: Phillips 66 Company Financial Analysis

Table 45: Bel Ray Company LLC. Business Overview

Table 46: Bel Ray Company LLC. Financial Analysis

Table 47: Morris Lubricants Business Overview

Table 48: Morris Lubricants Financial Analysis

 

Market Segmentation

  • By Base Oil
        • Mineral Oil
        • Synthetic Oil
          • Polyalpha Olefin (PAO)
          • Polyalkylene Glycol (PAG)
          • Esters
          • Group III (Hydrocracking)
  • By Type
        • Hydraulic Fluid
        • Engine Oil
        • Gear Oil
        • Automatic Transmission Fluid (ATF)
        • Compressor Oil
        • Grease
        • Others
  • By Equipment Type
        • Earthmoving Equipment
          • Excavators
          • Loaders
          • Crawler Dozers
          • Motor Graders
          • Others
        • Material Handling Equipment
        • Heavy Construction Vehicles
        • Others
  •  By Region
        • North America
        • Europe
        • The Asia-Pacific
        • Latin America
        • The Middle East and Africa
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Frequently Asked Questions (FAQs):

Ans: The global construction lubricants market reached USD 5.5 billion in 2020.
Ans: The growing focus on infrastructure development in both established and emerging economies is opening up lucrative opportunities for construction equipment makers, thus offering significant growth opportunities for major players in the construction lubricants market.
Ans: The key players in the global construction lubricants market are Royal Dutch Shell PLC, Exxonmobil Corporation, BP PLC, Chevron Corporation, Totalenergies SE, Petrochina Company Limited, China Petrochemical Corporation (Sinopec Corp.), Fuchs Petrolub SE, Lukoil, Phillips 66 Company, Bel Ray Company LLC., and other prominent players.
Ans: Based on types, hydraulic fluid segment accounted for the largest share in the global construction lubricants market.
Ans: Asia-Pacific accounts for the largest share in the global construction lubricants market.