Construction Lubricants Market Delivers Higher Revenue Share as Contribution by Major Players Surge

Published: Mon Jul 01 2019

As per the current market trends and the promising nature of the construction lubricants market, it can be estimated that the future holds positive outcomes. In order to provide a deep insight about the concerned market, FACTMR would be publishing a resourceful analysis that will enclose knowledge about the regional construction lubricants market size, revenue and opportunity status. Readers will be offered the privilege to decode various facets of the market during 2018-2028, together with the active access to secondary and primary research methodology. Furthermore, various segments of the market associated to product, application, end-user etc., would also be present in this intelligent research report.

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In Brief:

  • The construction lubricants market reflected moderate growth at a CAGR of over 3% during 2013-2017. The growing demand for construction lubricants can be attributed to the resurgence in construction activities and infrastructure development projects in emerging economies.

  • Backhoe loaders account for a significant share of the construction lubricants sales, as they entail high fleet maintenance in comparison to other construction equipment.

  • East Asia will continue to lead the construction lubricants industry, given that the region is the home to several emerging economies that have high-focus on infrastructure development.

  • South Asia is likely to emerge as a high growth market for construction lubricants, as governments across the key South Asian countries continue to play a pivotal role in boosting the construction & infrastructure landscape.

What are the Key Growth Drivers of Construction Lubricants Market?

  • The global construction industry is set for massive growth in the forthcoming years, on account of underlying factors such as urbanization and economic recovery worldwide. This unprecedented growth in the global construction industry is expected to accelerate the adoption of construction lubricants.

  • Increasing focus on infrastructure development across developed as well as developing economies is paving lucrative avenues for the construction equipment manufacturers, in turn creating potential growth opportunities for key players in construction lubricants market.

  • Proliferation of construction equipment & machinery OEMs across the key regions is estimated to underpin demand for construction lubricants.

  • Increasing focus on performance optimization of construction equipment is foreseen to fuel robust investments in the industry. This will create high demand for construction lubricants, as demand for high-quality specialty solutions to serve sophisticated varieties of construction equipment & machinery gains traction.

Construction Lubricants Market - Notable Developments

  • In 2018, Shell Lubricants announced the launch of ‘Shell LubeChat’, the very-first AI-driven chatbot tool for the B2B customers. Shell LubeChat refers to an online chat robot that has been designed to provide the users with easy and real-time access to technical services, product support, and data pertaining to lubricant varieties. Sensing the fact that customers and distributors lie at the heart of the company’s business, Shell introduced this chatbot to boost customer-brand interaction and repeated sales.

  • In 2018, FUCHS Group – a key player in the construction lubricants market- inaugurated a new purpose-built plant in Beresfield, in an attempt to attain a production ramp-up, wherein this new production plant will help to boost the local production capacities. Realization of the importance of having a robust local infrastructure capable of handling the regional demands, the company is investing in this new plant to offer instant yet effective services to the regional customer bases.

  • In 2018, PJSC Lukoil- a leading player in the construction lubricants market- signed a definitive supply agreement with XCMG Russia- a subsidiary of the Xuzhou Construction Machinery Group (XCMG), China. According to the terms and conditions of this particular agreement, LUKOIL will be supplying hydraulic oil, grease, auto chemicals, and motor oil to be used for the construction equipment of XCMG. This is a strategic partnership with the end-user that is highly likely to boost Lukoil’s long-term profitability.

Key players operating in the construction lubricants market include BP plc, Indian Oil Corporation, TOTAL S.A., Balmer Lawrie & Co. Ltd., PetroChina Company Limited, Berg Chilling Systems Inc., Chevron Corporation, and Eni S.p.A.

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