Agricultural lubricants Market

Agricultural lubricants Market worth $3.9 billion by 2025

The report "Agricultural lubricants Market by Type (Mineral Oil, Synthetic, and Bio-based), Application (Engines, Gears & Transmission, Hydraulics, Greasing, and Implements), Region (Asia Pacific, North America, Europe, South America, and MEA) - Global Forecast to 2025" is projected to grow from USD 2.9 billion in 2020 to USD 3.9 billion by 2025, at a CAGR of 5.5% from 2020 to 2025. Rising farm mechanization around the world is driving the growth of the agricultural lubricants market. The decrease in the agricultural labor force in both, developed and emerging nations has led to an increase in the use of farm machinery such as tractors and combines, thereby increasing the demand for lubricants used for such machinery.

Browse 173 market data Tables and 33 Figures spread through 195 Pages and in-depth TOC on "Agricultural lubricants Market by Type (Mineral Oil, Synthetic, and Bio-based), Application (Engines, Gears & Transmission, Hydraulics, Greasing, and Implements), Region (Asia Pacific, North America, Europe, South America, and MEA) - Global Forecast to 2025"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/agricultural-lubricant-market-262710114.html

The mineral oil segment is projected to lead the agricultural lubricants market in terms of both, value and volume from 2020 to 2025.

Based on type, the mineral oil agricultural lubricants segment accounted for the largest share of the agricultural lubricants market in 2019 in terms of both, value and volume. Low costs and easy availability of mineral oil lubricants are driving the growth of this segment. These lubricants are produced in large quantities due to high demand for different types of agricultural equipment. Despite the gradual shift from mineral oil lubricants to synthetic and bio-based lubricants, the agricultural sector is expected to continue to utilize high volumes of mineral oil lubricants because of their low cost.

The engines application segment is projected to lead the agricultural lubricants market in terms of both, value and volume during the forecast period.

Based on application, the engines application segment led the agricultural lubricants market in 2019 in terms of both value and volume. The growth of this segment is majorly driven by the Asia Pacific and Europe regions. Asian countries such as China and India are increasing mechanization on farms to speed up agricultural processes and meet the rapidly rising demand for food. For instance, according to data provided by the National Institution for Transforming India (NITI) Aayog in 2018, half of the Indian population will become urban by 2050, and the agricultural workforce is estimated to decline from 54.6% in 2011 to 25.7 % by 2050.  This declining agricultural workforce supports the cause of farm mechanization, thereby contributing to the growth of the agricultural lubricants market.

Engines of farm tractors require lubrication as part of their routine maintenance. These diesel engines need to be lubricated with engine oils once or twice a year to ensure smooth functioning, provide wear protection, and enhance performance at extremely high or low temperatures.

The agricultural lubricants market in Asia Pacific is projected to grow at the highest CAGR in terms of both, value and volume during the forecast period.

The agricultural lubricants market in Asia Pacific is projected to grow at the highest CAGR in terms of both, value and volume from 2020 to 2025. China, India, and Japan are the key countries contributing to the increased demand for agricultural lubricants in this region. Factors such as expanding agribusinesses and growing farm mechanization have increased the demand for agricultural lubricants in this region.

Key players such as Exxon Mobil Corporation (US), Royal Dutch Shell Plc (Netherlands), Chevron Corporation (US), Total SA (France), BP plc (UK), FUCHS PETROLUB SE (Germany), Phillips 66 (US), Exol Lubricants Limited (UK), Witham Oil & Paint Ltd (UK), Rymax Lubricants (Netherlands), Repsol SA (Spain), Cougar Lubricants International Ltd (UK), Schaeffer Manufacturing Co. (US), Pennine Lubricants Limited (UK), Frontier Performance Lubricants, Inc. (US), and Unil Lubricants (Belgium) have adopted expansions, joint ventures, acquisitions, new product launches, agreements, partnerships, contracts, and divestments as their strategies.

Don’t miss out on business opportunities in Agricultural lubricants Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Report Code
CH 5816
PR Published ON
3/19/2020
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Agricultural lubricants Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
© MarketsandMarkets Research Private Ltd. All rights reserved
...

Digital Virtual Assistant - MarketsandMarkets

Home