Allied Market Research has published a comprehensive report titled “Global Lubricants in Construction Market, 2023–2032”, covering insights by base oil, product type, construction equipment, and application. According to the study, the market was valued at $11.4 billion in 2022 and is projected to reach $16.8 billion by 2032, growing at a CAGR of 4.0%.
𝐀𝐜𝐜𝐞𝐬𝐬 𝐅𝐮𝐥𝐥 𝐒𝐮𝐦𝐦𝐚𝐫𝐲 @ https://www.alliedmarketresearch.com/lubricants-in-construction-market-A144261
Key Growth Drivers
- Rising government incentives for infrastructure development
- Increased use of heavy machinery in construction
- Expanding construction activities in Asia-Pacific
Challenges & Opportunities
- While environmental concerns regarding lubricant use pose a challenge, opportunities lie in:
- Green construction practices
- Integration of digitalization and IoT
- High-performance lubricant formulations
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Market Breakdown
- By Base Oil
Mineral Oil led the market in 2022 (over 50% share), driven by growing use in heavy-duty machinery. - Synthetic Oil is expected to grow fastest (CAGR 4.5%) due to its superior properties and sustainability benefits.
By Product Type
- Engine Oil held the largest share (nearly one-third) in 2022 and is forecast to maintain dominance, owing to its essential role in machinery performance.
By Construction Equipment
- Earthmoving Equipment dominated in 2022 (almost 50% share), thanks to rising urbanization and precision technologies.
- Heavy Construction Vehicles are projected to grow at the highest rate (CAGR 4.4%) due to ongoing infrastructure developments.
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By Application
- Vertical Construction led in 2022, fueled by urban population growth and land-use efficiency.
- Horizontal Construction (roads, bridges, utilities) is projected to see the highest growth (CAGR 4.4%) amid economic and infrastructure expansion.
By Region
- Asia-Pacific was the largest regional market in 2022 (over 50% share) and is expected to continue leading through 2032, driven by rapid industrialization in China, India, and neighboring countries.
Key Market Players
- Exxon Mobil Corporation
- FUCHS
- Shell
- PETRONAS Lubricants International
- Chevron Corporation
- TotalEnergies SE
- Sinopec Corp
- Lukoil
- Morris Lubricants
- BP p.l.c.
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These companies are actively engaging in product innovation, regional expansion, partnerships, and strategic mergers to strengthen their market presence.
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