Global Agricultural Lubricants Market

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Global Agricultural lubricants Market

Global Agricultural lubricants Market was valued US$ 2.8 Bn in 2019 and is expected to reach US$ 4.1 Bn by 2026, at a CAGR of 5.6 % during a forecast period. The Agricultural equipment requires dependable, durable lubricants, which work on demanding terrain in changing weather. Investment in the maintenance & lubrication skills are keys to ensure the success of agricultural operations for future generations of farmers.

 

Global Agricultural lubricants Market by Regional


Global Agricultural lubricants Market Dynamics:

Lubrication plays a vital role in the proper maintenance of agricultural machinery like tractors and combine harvesters. An increase in labor costs are driving farmers to consolidate assets to save cost and increase their agriculture production. The agricultural lubricants market growth is expected to grow with rapid traction because of the high populace and requirement to enhance yield to meet the demand for food. Additionally, increase in the purchasing power among people, rapid industrialization and farmers inclination towards used farm equipment, which require agriculture lubricant oil are expected to boost the market growth.

Global Agricultural lubricants Market by type

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Government Initiative: to improve the condition of the agriculture industries drive the market growth

Government initiatives are providing an incentive to the adoption of machineries for farming activities. For instance, in India, the government has introduced the “Macro-Management Scheme of Agriculture” which provides a 25% subsidy on tractors. Similarly, In Canada, government has executed the “Canadian Agricultural Loans Act” (CALA) program, which offers farmers a loan for purchasing land or tractor. An increase in need for operational efficiency are expected to boost the agricultural equipment market.
Presence of the smallholder land farmers: Restricting the purchasing power for farm equipment.

In the regions, Asia-Pacific, South America, and Africa, there are a large number of smallholder farmers, who have fragmented land holdings. Lack of financial power and purchasing power are expected to limit the market growth. Furthermore, the underdeveloped supply chains to support the servicing and maintenance of tractors for agricultural machinery in the underdeveloped countries and emerging countries are expected to hamper the market growth.
Global Agricultural lubricants Market Segment Analysis:

The bio-based lubricants segment is expected to grow at the XX% CAGR during the forecast period. Bio-based lubricants are mass-produced from plant-derived materials like rapeseed, canola, sunflower, soybean, and coconut. An important and beneficial properties of bio-based lubricants are expected to increase its adoption. It offers excellent lubrication, low friction coefficients, low evaporation rate, and high flash point.

Global Agricultural lubricants Market
Global Agricultural lubricants Market Regional Analysis:

Asia Pacific region is projected to be leading in the global agricultural lubricants market. The population growth in the region is increasing equipment demand and this trend is expected to continue during the forecast period. The demand for tractors and other forms of mechanization are boosting the regional market growth. The growth in the farm income, international food commodity prices, support from Government to increase productivity and private investments in Agriculture has brought optimism in the agriculture landscape in Asia are expected to increase farm mechanization and demand for agricultural lubricants in region.

In North America, farmers are organizing more sophisticated tractors/machines, which are using AI for decision-making. The demand for agricultural lubricants is significant and advanced user of machinery, which is resulting into demand for replacement parts that are expected to drive the regional market growth. On the other hand, In Europe, the demand for agricultural lubricants is quite different. The region is one of the most advanced markets for agricultural equipment with low available agricultural land.

Regional Tractors Sales: The report has covered the tractors volume sales units in 2019 and 2020 by North America, Europe, Asia Pacific, Africa and Latin America. Report covers the all the regional demand and sales of farm mechanism, which will give a clear representation for the demand for agriculture lubricant oil.

Global Agricultural lubricants Market by Regional

The objective of the report is to present a comprehensive analysis of the Global Agricultural lubricants Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Global Agricultural lubricants Market dynamics, structure by analyzing the market segments and projects the Global Agricultural lubricants Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Agricultural lubricants Market make the report investor’s guide.
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Global Agricultural lubricants Market table
Global Agricultural lubricants Market, by Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

Global Agricultural lubricants Market Key Players

• Exxon Mobil Corporation
• Royal Dutch Shell Plc
• Chevron Corporation
• Total S.A.
• Bp P.L.C.
• Fuchs Petrolub Se
• Witham Oil & Paint Ltd
• Rymax Lubricants
• Repsol S.A.
• Cougar Lubricants International Ltd
• Schaeffer Manufacturing Co.
• Pennine Lubricants Limited
• Frontier Performance Lubricants, Inc.
• Unil Lubricants
• Phillips 66
• Exol Lubricants Limited
• SGS
• Eni S.p.A.
• LUKOIL
• Valvoline LLC,
• CONDAT,
• Morris Lubricants

 

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