The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

A Strong Growth Trajectory

• The construction lubricants market size has grown robustly, reaching $12.97 billion in 2023.
• Projections suggest a further increase to $13.95 billion in 2024, with a compound annual growth rate (CAGR) of 7.6%.
• This growth stems from various factors including the infrastructure boom, urbanization trends, industrialization, and global economic growth.

Future Outlook: A Promising Growth Scenario

• Anticipated growth to $18 billion in 2028 with a CAGR of 6.6%.
• Factors contributing to this forecast include smart construction practices, sustainable construction, and digitalization in construction equipment.
• Major trends in the forecast period include the emergence of green lubricants, customized formulations, collaborations, and partnerships.

Booming Construction and Mining Sectors Propel Growth in the Construction Lubricants Market

• Rise in construction and mining activities is a significant driver.
• Lubricants reduce friction between surfaces, enhancing machinery efficiency.
• India’s construction and mining equipment industry is poised for significant growth, driving demand for lubricants.
• Key players in the market include ExxonMobil Corporation, Royal Dutch Shell plc, TotalEnergies SE, and others.

View More On The Construction Lubricants Market Report 2024 – https://www.thebusinessresearchcompany.com/report/construction-lubricants-global-market-report

Advancements in Construction Machinery Efficiency and Sustainability

• Development of zinc-free lubricants is a notable trend.
• These lubricants offer improved efficiency and reduce environmental harm.
• Fuchs Petrolub SE’s acquisition of Royal Dutch Shell in Africa highlights market dominance.
• Zinc-free lubricants offer enhanced thermal stability and extended service life.

Fuchs Petrolub SE Emerges as Dominant Force in African Lubricant Market

• Fuchs Petrolub SE’s acquisition of Royal Dutch Shell in Africa for €1.3 billion solidifies its market share.
• With over 25% market share, Fuchs becomes the largest lubricant manufacturer in Africa.
• Royal Dutch Shell’s contribution enhances Fuchs’ presence in the region.

Market Segmentation

• Basis Type: Hydraulic Fluid, Engine Oil, Gear Oil, Automatic Transmission Fluid (ATF), Grease, Compressor Oil.
• Base Oil: Synthetic Oil, Mineral Oil.
• Application: Earthmoving Equipment, Material Handling Equipment, Heavy Construction Vehicles, Other Applications.

Regional Dynamics

• Europe was the largest region in the construction lubrication market in 2023.
• Asia-Pacific is expected to witness the fastest growth in the forecast period.
• Emerging markets in Asia-Pacific present lucrative opportunities for market expansion.

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The Construction Lubricants Global Market Report 2024  provides comprehensive insights on the construction lubricants market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the construction lubricants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
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