- 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.
Read Report Overview: https://www.factmr.com/report/3472/construction-lubricants-market
- 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.
For more incisive insights into the global construction lubricants market, request a sample
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.