Global Off-Highway Construction Equipment Lubricants Market
Global Off-Highway Construction Equipment Lubricants Market Report Description:
Global off-highway construction equipment lubricants market report gives comprehensive outlook on off-highway construction equipment lubricants across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East Africa. The report on global off-highway construction equipment lubricants market gives historical, current, and future market sizes (US$ Mn) on the basis of base oil, product type, equipment, and regions. This report studies global off-highway construction equipment lubricants market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global off-highway construction equipment lubricants market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global off-highway construction equipment lubricants market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global off-highway construction equipment lubricants market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global off-highway construction equipment lubricants products.
Global Off-Highway Construction Equipment Lubricants Market:
The global off-highway construction equipment lubricants market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. Growing demand for heavy-duty engine oils, gear oils, and transmission fluids is in the cards to up surge demand in the global market. Speedy economic growth as well as development contributed as a major factor for the rising sales in construction equipment. Investments to spend hefty amount on building projects in the GCC region is also anticipated to drive the market. Projects associated with road-construction as well as agricultural machines are the major consumers of off-highway construction equipment lubricants. Additionally, rising acceptance and inclination towards bio-based complements would propel the market growth. However, fluctuation in the prices of raw materials and stringent environmental regulations is anticipated to dampen the growth of market.
Rising Demand for Heavy Duty Engine Oils
Transmission fluid, hydraulic fluid, greases, gear oil, heavy-duty engine oils are the different products of off-highway construction equipment lubricants. Heavy duty engine oils is the leading product type. It facilitates in reduction of friction amid the different parts of engine, reduces the probability of wear and tear, lessens the gathering of dust besides covers the gap and stops corrosion. Furthermore, they are extremely resilient to thermal fluctuations also guarantee the smooth working and efficiency of the machine. Also, in oils assist it assists in cleansing of the engine in excess of prolonged drain period. Moreover, it also avoids the buildup of deposits and dust on the parts of engine.
Transmission fluids is the other major product. They further assists in wear resistance, rotational speed improvement, reduction of high operating temperatures, and enhanced function of cooling, improved rotational speed and temperature range in vehicles, conditioning gaskets. They support to improve the performance of engine through easily transmitting lubricants in the gear trains.
Europe Accounts for Larger Market Revenue Share in Global Off-Highway Construction Equipment Lubricants Market
Europe accounted for the largest share in the market in terms of revenue, besides it is likely to linger its domination during forecasted period. The growth in this region can be attributed to the rising construction activities in countries such as Germany and Russia. Saudi Arabia is expected to lead the market in the near future due to ongoing construction activities in the GCC region. The nation is expected to reveal additional usage of heavy machinery lubricants in arrears to more than a few pipeline projects, such as KACARE Renewable Energy Program.
Key player’s profiles in the global off-highway construction equipment lubricants market include:
- Total UAE
- Sinopec UAE
- ExxonMobil Corporation
- Idemitsu Kosan
- Bharat petroleum Corporation
- Castrol India
- Hindustan Petroleum Corporation Ltd
- Indian Oil Corporation Ltd
- Gulf Oil Lubricants
- Valvoline Cummins
Key players in global off-highway construction equipment lubricants market enhance their product portfolio and consumer base by adopting striking market strategy like collaborations, acquisitions, technological innovations, among others. For instance, Gulf Oil Acquires US- based Houghton International Inc.
Key Findings of the Report:
- Global off-highway construction equipment lubricants market expanding at significant CAGR over 2019 to 2025 due to growing number of equipment OEMs.
- Based on product type, heavy duty engine oils segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global off-highway construction equipment lubricants market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market.
By Base Oil Type
- Mineral Oil
- Synthetic Oil
By Product Type
- Hydraulic Fluid
- Engine Oil
- Gear Oil
- Compressor Oil
By Equipment Type
- Material Handling
- Heavy Construction Vehicle
- Rest of Europe
- Rest of Asia Pacific
- Rest of Latin America
Middle East and Africa
- South Africa
- Gulf Corporation Council Counties (GCC)
- Rest of MEA