New York, Sept. 24, 2019 (GLOBE NEWSWIRE) -- The increasing construction activities across the globe, coupled with the rising population and changing lifestyles are propelling the growth of the market.
The global construction lubricants market is forecast to reach USD 18.32 Billion by 2026, according to a new report by Reports and Data. Construction equipment, such as dump trucks, bulldozers, and shovels, among others, are subjected to harsh conditions. Exposure to extreme heat, moisture, cold, dust, and dirt can lead to equipment failure. Lubrication of the equipment can help eliminate the downtime and reduce the operating costs, keeping the lubricant contaminant-free.
The increasing construction activities across the globe, coupled with the rising population and changing lifestyles are propelling the growth of the market. Rapid urbanization will also drive the demand for construction lubricants during the forecast period. Moreover, the worldwide demand for high-efficiency and quality lubricants will contribute to the growth of the market.
The construction industry in Europe contributes to the growth of the global market. Spain, Turkey, and the United Kingdom are expected to witness the fastest growth rates for the consumption of lubricants, owing to the increasing commercial and public infrastructure investments. The growing infrastructure projects and the modernization of the transport infrastructure in the Eastern European countries are expected to be the driving factors for the growth of the market in the region.
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Further key findings from the report suggest
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/construction-lubricants-market
Segments covered in the report:
For this report, Reports and Data have segmented into the global construction lubricants market on the basis of lubricant type, base oil, end-use, and region:
Lubricant type Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
Base oil Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
End-Use Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
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Regional Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
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