Agricultural Lubricant Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018 - 2026

Agriculture | Delivery Format: PDF | Status: Forthcoming | Report ID: ARC539

Introduction

Lubricant is the substance which is used to reduce abrasion or friction between two surfaces those are in contact with each other. It helps in eradication of heat, and transition of power and is available in liquid, solid, and gaseous state. They are also found in semisolid forms. Greases are one of the most common examples of lubricants in semisolid state. Additives (5-30%) are added to lubricants to enhance its performance. Lubricants are used in agricultural equipment to increase the productivity.

Market Dynamics

Decline in availability of agricultural workers, leading to increased labor cost are the major driving factors for agricultural lubricant market. Moreover, the growing focus towards mechanization in the agricultural sector is also one of the factors augmenting the growth of agricultural lubricants market. Also, the subsidies provided by government for agricultural equipment boosts the growth of agricultural lubricants market. However, high cost of bio-based lubricants is the major restraining factor for the market growth. Nevertheless, the extensive possibility for rise in farmhouse systematization in India and China provides major growth opportunities for manufacturers of agricultural lubricants.

Market Classification and Overview

The agricultural lubricant market is bifurcated based on type, application, and geography. The different types of agricultural lubricant include mineral oil lubricants, synthetic lubricants, and bio-based lubricants. Mineral oil lubricant segment is expected to be the largest contributor in 2015 owing to its low cost and wide usage. Engine, gear & transmission, hydraulics, greasing, and implements are the major applications of agricultural lubricants. Engine is the largest application market for agricultural lubricants as it helps in improving the engine lifespan.

Regional Overview

The market for agricultural lubricant is segmented into regions such as North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa (MEA). Asia-Pacific was the largest contributor to the global agricultural lubricant market in 2015, with China being the largest producer of rice, tomato, and cotton. The region is also projected to register highest growth during the forecast period, as 57% of countries in the region have agriculture as their prime occupation. North America was the second biggest market followed by Europe. The market for agricultural lubricants in India is further projected to witness highest growth in coming years owing to better agricultural regulations by government.

Report Coverage

Market

Agricultural Lubricant Market

Analysis Period

2015 – 2026

Historic Data

2015 – 2016

Base Year

2017

Forecast Data

2018 – 2026

Market Stratification

Type, Application, Geography

Regional Scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)

Report Coverage

Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,

Player Profiling, Value Chain Analysis

Market Participants

Exxon Mobil Corporation, Chevron Corporation, Royal Dutch Shell plc, Philips 66, BP PLC, Total S.A., Witham Oil and Paint Ltd., Schaeffer Manufacturing Co., Frontier Performance Lubricants, Cougar Lubricants International, and Unil Lubricants NV among others are some of the key players engaged in manufacturing agricultural lubricants. These players are deploying various market strategies such as mergers and acquisitions with local as well as established players to sustain competition and gain competitive edge over competitors.

Market Segmentation

Market By Type

·         Mineral Oil Lubricants

·         Synthetic Lubricant

·         Bio-based Lubricant

Market By Application

·         Engines

·         Gear & Transmission

·         Hydraulics

·         Greasing

·         Implements

Market By Geography

·         North America

o   US

o   Canada

o   Mexico

·         Europe

o   UK

o   Germany

o   France

o   Rest of Europe

·         Asia-Pacific

o   China

o   Japan

o   India

o   Australia

o   Rest of Asia-Pacific

·         Latin America

o   Brazil

o   Rest of Latin America

·         Middle East and Africa (MEA)

o   South Africa

o   Saudi Arabia

o   Rest of MEA

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