LONDON--(BUSINESS WIRE)-- The global construction lubricants market is expected to post a CAGR of nearly 5% during the period 2018-2022, according to the latest market research report by Technavio.

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Technavio has published a new market research report on the global construction lubricants market for the period 2018-2022. (Graphic: Business Wire)

A key factor driving the growth of the market is the increased demand for hydraulic fluids. One of the major products of construction lubricants is hydraulic fluids. They are extensively used in heavy-load vehicles and equipment used in the construction industry. The primary factor leading to its high usage as lubricants in construction equipment is due to their fluidity at low temperature. Hydraulic fluids possess anti-wear, resistance to corrosion and water tolerance, and filterability characteristics as well.

This market research report on the global construction lubricants market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

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In this report, Technavio highlights the increasing demand for synthetic base oils as one of the key emerging trends in the global construction lubricants market:

Global construction lubricants market: Increasing demand for synthetic base oils

During the forecast period, the growing use of synthetic base oils in construction equipment and earthmovers will positively drive the growth of the global construction lubricants markets. Factors such as the easy availability of the product and its low cost drive the consumption of synthetic base oils.

“Chemically modified petroleum compounds are used to manufacture synthetic base oil. It offers good benefits and advantages such as better low-and-high temperature viscosity performance, decreased evaporative loss, better chemical and shear stability, longer engine life, and resistance to oxidation, thermal breakdown, and oil sludge problems. Hence, there is an augmented demand for synthetic base oil that can significantly drive the global construction lubricants market during the upcoming years,” says a senior analyst at Technavio for research on specialty chemicals.

Global construction lubricants market: Segmentation analysis

This market research report segments the global construction lubricants market by product (hydraulic fluid, engine oil, gear oil, and compressor oil) and geographical regions (APAC, EMEA, and the Americas).

The hydraulic fluid segment held the largest market share in 2017, accounting for nearly 34% of the market. This product segment is expected to dominate the global market throughout the forecast period.

APAC led the market in 2017 with a market share of nearly 43%. This region is expected to dominate the market through 2022.

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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

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