Off-Highway Construction Equipment Lubricants Market Size, Share, Growth, Trends, and Global Industry Analysis: By Base Oil Type (Mineral Oil, Synthetic Oil), By Product Type (Hydraulic Fluid, Engine Oil, Gear Oil, Compressor Oil, Others), By Equipment Type (Earthmoving, Material Handling, Heavy Construction Vehicle, Others) and Region Forecast 2020-2031    

Off-Highway Construction Equipment Lubricants Market size was valued at US$ 804.0 million in 2024 and is expected to reach US$ 1,146.5 million by 2031, growing at a significant CAGR of 5.2% from 2025-2031. The global market provides a detailed overview of the market, and that can be segmented by base oil type, product type, and equipment type. By base oil type, the global market has been segmented into Mineral Oil and Synthetic Oil. The Mineral Oil segment is likely to be the largest and fastest-growing segment in terms of type in 2021 and is expected to maintain the trend in the forecasted years. Based on product type, the global market is segmented into Hydraulic Fluid, Engine Oil, Gear Oil, Compressor Oil, and Others. Among these, the Hydraulic Fluid segment is expected to have the fastest-growing market during the forecast period according to precision business insights.

Also, Engine oil especially heavy-duty engine oil is also growing at a significant rate due to its capability of reducing friction between engine parts, minimizing wear and tear, reducing the accumulation of dust and sealing the gap, and preventing corrosion. Moreover, they are highly resistant to thermal fluctuations and ensure the smooth functioning and efficiency of the engine which will further boost the market growth in this segment. Based on equipment type, the global market is segmented into Earthmoving, Material Handling, Heavy Construction Vehicles, and Others. The Heavy Construction Vehicle segment accounts for the largest share in 2021 and is anticipated to register a significant CAGR in the upcoming years.

 Key Development:

• In Oct 2022, JCB India, India's leading manufacturer of earthmoving and construction equipment, launched three new excavators for infrastructure and mining and quarrying applications.
• In Oct 2022, Takeuchi launched seven sound-suppressed hydraulic hammer models to the Takeuchi attachment program.