U.K. Off-Highway Equipment Lubricants Market Size Is Projected To Reach USD 563.8 Million By 2025 : Grand View Research Inc.

November 20 07:54 2019
U.K. Off-Highway Equipment Lubricants Market Size Is Projected To Reach USD 563.8 Million By 2025 : Grand View Research Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The U.K. off-highway equipment lubricants market size was valued at USD 493.6 million in 2018 and is projected to expand at an estimated CAGR of 1.9% from 2019 to 2025.

The U.K. off-highway equipment lubricants market size is projected to reach USD 563.8 million by 2025, according to a new report by Grand View Research, Inc., registering a 1.9% CAGR over the forecast period. Increasing demand for heavy-duty engine oil, coupled with growing infrastructure and agriculture sectors, is anticipated to propel lubricant consumption.

Rapid increase in urbanization has led to demand for better infrastructure in U.K. As the country is developing various plans to meet the growing infrastructural demand, the construction sector is likely to expand significantly as well. Rise in demand for transport infrastructure in U.K. will create opportunities for construction machinery, and therefore its lubricants, as these machines are the basic requirement for completing any infrastructure project.

British Petroleum plc, Shell UK Ltd, ExxonMobil Corporation, Total UK Ltd, Fuchs Lubricants (UK) plc, and Chevron Corporation are key manufacturers and suppliers of lubricants and boast of a well-established distribution network across the region. Manufacturers are focusing on increasing production capacities and entering into long-term agreements with distributors to effectively cater to the market.

Presence of numerous rental services for construction and agricultural machinery, such as tractors, harvesters, and sprayer rental services, and growing trend of hiring such machinery on a short-term and seasonal basis are likely to offer promising growth in lubricant consumption in the rental segment. Growing stringent regulations pertaining to regular maintenance of machinery to reduce pollution is another factor driving demand for lubricants in U.K.

UK Off-Highway Equipment Lubricants Market size, by products, 2014 - 2025 (USD Million)

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Key Takeways Of The Report :

  • By end use, rentals emerged as the dominant segment in the industry with a total share of 41.4% by volume in 2018. In terms of revenue, the segment is expected to value USD 237.9 million by 2025 and will also register the fastest growth

  • On the basis of equipment type, construction machinery accounted for more than 45.0% of the off-highway machinery lubricant consumption in terms of volume in 2018. The segment also led the overall market in terms of revenue that year

  • Some of the key participants in the U.K. off-highway equipment lubricants market are British Petroleum plc, ExxonMobil Corporation, Shell UK Ltd, ExxonMobil, and Fuchs Lubricant (UK) plc

  • Mergers and joint ventures are some of the key trends observed in the market. In 2017, Total S.A. acquired Maersk Oil, which assisted Total in adding new refinery and oil reserves to its portfolio.

U.K. off-highway equipment lubricants market share, by end use, 2018 (%)

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Grand View Research has segmented the U.K. off-highway equipment lubricants market on the basis of product, equipment type, and end use:

U.K. Off-Highway Equipment Lubricants Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)

  • Heavy Duty Engine Oil

  • Transmission Fluids

  • Hydraulic Fluids

  • Greases

  • Gear Oils

  • Others

U.K. Off-Highway Equipment Lubricants Equipment Type Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)

  • Construction Equipment by Type

    • Earthmoving Machinery

    • Material Handling & Cranes

    • Concrete Equipment

    • Road Building Machinery

  • Construction Equipment by End Use

    • OEM

    • OEM Dealers

    • Independent Workshops

    • Franchise

    • Rentals

  • Agriculture & Forestry by End Use

    • OEM

    • OEM Dealers

    • Independent Workshops

    • Franchise

    • Rentals

  • Mining Equipment by End Use

    • OEM

    • OEM Dealers

    • Independent Workshops

    • Franchise

    • Rentals

U.K. Off-Highway Equipment Lubricants End-use Outlook (Volume, Kilotons; Revenue, USD Million; 2014 – 2025)

  • OEM

  • OEM Dealers

  • Independent Workshops

  • Franchise

  • Rentals

Browse Related Report :

Linear Alkyl Benzene Market : https://www.grandviewresearch.com/industry-analysis/linear-alkyl-benzene-market

Automotive Lubricants Market : https://www.grandviewresearch.com/industry-analysis/automotive-lubricants-market

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

 

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