Agricultural Lubricants Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2024

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Report Code: ZMR-3022 | Report Format : | Status : Upcoming |

Abstract

Agricultural Lubricants Market: Overview

Agricultural lubricants are substances that are used for lubricating farm equipments and other machinery which include tractors, verge cutters, harvesters and others. Agricultural lubricants constitute a very important part of the agricultural sector as they are used to increase the efficiency of the agricultural equipments. Using agricultural equipments is a very cost effective method as it improves the life of machine by preventing its wear and tear, lowers the repair cost and helps in avoiding the chances of early replacement. Widely used synthetic lubricants are very costly and require careful handling due to their hazardous property.

Agricultural Lubricants Market: Growth Factors

Due to a boost in population demand for food has gone up which in turn demands high productivity of agricultural product which is the major factor fueling the growth of the agricultural lubricants market. Encouragement from the government to embrace the new agricultural practices as well as the monetary support provided to the farmers is also driving the growth of agricultural lubricants market. The high cost of lubricants and their weak performance are major factors restraining the growth of the market. Persuading small-scale farmers to use agricultural lubricants is a very challenging task. Low capital with the small-scale farmers is also a hindrance in their way to adopt agricultural lubricants as they prefer sticking to traditional cost friendly methods.

Agricultural Lubricants Market: Segmentation

Agricultural lubricants market is fragmented on the basis of type and application. On the basis of type, the segment includes mineral oil lubricants, synthetic lubricants, and bio-based lubricants. Amongst which synthetic lubricants have high growth rate. Further, the application segment includes Engines, Gear & Transmission, Hydraulics, Greasing and Implements.

Agricultural Lubricants Market: Regional Analysis

Asia-Pacific region dominates the agricultural lubricants market. India and China are using the agricultural lubricants on a large scale as they own large farms and tractors which require lubrication on a timely basis. Improved machinery and regulations have helped China to dominate in the APAC region. The provision of subsidies in the APAC region by their respective governments is also a supporting factor for the farmers to use the agricultural lubricants. North America is growing at a high rate. Europe and North America are shifting towards bio-based lubricants due to the hazards associated with the synthetic lubricants.

Agricultural Lubricants Market: Competitive Players

Some of the key players in this market include ExxonMobil, Norman Oils, Gulf Oil Lubricants India, Shell, Schaeffer Manufacturing Co., Exol Lubricants, BP P.L.C., Royal Precision Lubricants, Phillips 66, Repsol, Chevron among others.

Agricultural Lubricants Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • The UK
    • France
    • Germany
  • The Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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