The construction lubricant sales are estimated to surpass 6,400 KT in 2019, according to a recent study of Fact.MR. Resurgence in construction activities and growing investment in infrastructure development projects, particularly in emerging economies, continue to support growth of the construction lubricants industry.
“Extensive analysis of the end-user specifications and requirements continues to be vital for growth in the construction lubricants market. Manufacturers are vying to devise effective strategies for extension of their portfolios with new product developments, while expanding their core product lines”, states Fact.MR report.
To remain ‘ahead’ of your competitors, request for a sample – https://www.factmr.com/connectus/sample?flag=S&rep_id=3472
According to the report, synthetic oil will continue to be preferred over mineral oil, with global sales estimated to exceed 3,300 KT in 2019.
Marked preferences for synthetic oil are on account of its superior performance capabilities and higher drain intervals. Stringent emission norms & regulations are also driving demand for synthetic oils.
The study finds that backhoe loaders account for larger sales of construction lubricants, as they entail relative greater fleet maintenance requirements than other construction equipment.
East Asia is likely to emerge as a highly attractive market for construction lubricants, driven by rapid industrialization across developing economies in the region. In addition, increasing government as well as foreign investments apropos of the construction activities is further underpinning growth of East Asia construction lubricants market.
Growing Demand for Zinc-Free Construction Lubricants – A Key Trend
Growing demand for zinc-free construction lubricants is emerging as a key trend in the industry, owing to their ability of preventing corrosion of construction machinery, and improving the equipment lifecycle.
For critical insights on this market, request for methodology here – https://www.factmr.com/connectus/sample?flag=RM&rep_id=3472
Additionally, zinc-free construction lubricants offer high performance even in high temperature, high pressure, and high moisture conditions, which in turn is fuelling their demand as an ideal type of construction lubricant.
The study opines that leading players in the construction lubricants market are focusing on offering high-performance products, which will help end-users to safeguard expensive machinery and reduce unwanted downtime. In order to serve a larger end-user base and effectively meet their specifications and requirements, players are making headway with value-added services and offerings.
Manufacturers of construction lubricant are also focusing on diversifying their product portfolios via incorporation of bio-based variants, against the backdrop of rapid end-user inclination toward environment-friendly products.
According to the report, companies that hone their digital-marketing skills to engage end-users are likely to gain significant profitability in the long-run, upheld by the fact that most players in the construction lubricants market are already putting immense efforts to gain a competitive edge.
The Fact.MR study offers a comprehensive forecast of the construction lubricants market for the period, 2018 to 2028. The construction lubricants market is expected to register a volume CAGR of approximately 4% through 2028.
Connect To An Expert – https://www.factmr.com/connectus/sample?flag=AE&rep_id=3472
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Email: [email protected]
Visit Our Website: https://www.factmr.com
