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Lubricant Market for Off-road Sector
REPORT DESCRIPTION
Lubricants Market for Off-road Sector (Source - Mineral Oil-based,
Synthetic, and Bio-based; Grade - Single and Multi; Product - Engine
Oil, Transmission Fluids, Hydraulic Fluids, Gear Oil, and Grease;
End Use - Construction, Agriculture and Farming, Mining, and
Material Handling) - Global Industry Analysis, Size, Share, Growth,
Trends and Forecast 2016 - 2024
The global market for lubricants for off-road sector is highly competitive and consolidated in
nature with a few players holding a key share of the overall market, states a research report by
Transparency Market Research. In 2015, the leading players in the global market, namely
ExxonMobil Corporation, Royal Dutch Shell Plc., and BP Global collectively held a share of 31.6%
and are likely to continue their dominance over the next few years. These players are making efforts
to enhance their presence by focusing on the development of new and innovative products. In
addition, the improvement of infrastructural facilities is another major factor estimated to encourage
the growth of the global lubricants market for off-road sector in the next few years.
Furthermore, the increasing investments by the key players in the global market are likely to
accelerate the development of the market in the near future.
According to the research study by Transparency Market Research, in 2015, the global market for
lubricants for off-road sector was worth US$13.0 bn and is estimated to reach a value of US$16.8 bn
by 2024. The market is projected to register a healthy 2.90% CAGR between 2016 and 2024.
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Obtain Report Details @
http://www.transparencymarketresearch.com/lubricants-market-for-offroad-
sector.html
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Transparency Market Research