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Global Agricultural Lubricants Market – Industry Trends and Forecast to 2029

  • Chemical and Materials
  • Upcoming Report
  • Apr 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60
  • Chemical and Materials
  • Upcoming Report
  • Apr 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Agricultural Lubricants Market, By Category (Mineral Oil, Synthetic, Bio-based), Type (Engine Oil, Grease, Hydraulic Oils, Transformer Oil, Crankcase Oils, Bar and Chain Oil, Others), Raw Material (Petroleum Based Lubricants, Bio-Based Lubricants), Application (Engines, Gear and Transmission, Hydraulics, Greasing, Chain, Implements, Others), Agricultural Equipment (Tractors, Harvesters, Corn-Pickers, Balers, Verge Cutters, Circular Spike Harrows, Stone Grinders, Fertilizer Spreaders, Slurry Tankers, Sprayers, Fodder Mixers, Silage Spreaders, Straw Blowers, Mowers and Mower-Conditioners, Hay Tedders, Hay Rakes, Bale Wrappers, Grape Harvesting Machines, Others) – Industry Trends and Forecast to 2029.

Agricultural Lubricants Market

Market Analysis and Size

There has been a growth in the usage of contemporary agricultural equipment, which is driving demand for agricultural lubricants and even allowing companies to expand globally. Moreover, the agricultural lubricants industry is growing due to increased farm mechanization around the world.

Global Agricultural Lubricants Market was valued at USD 3.04 billion in 2021 and is expected to reach USD 4.38 billion by 2029, registering a CAGR of 4.70% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Market Definition

Agricultural lubricants are the lubricants used for agricultural equipment to help machines and equipment last longer. They are used in harvesters, tractors, and verge cutters, among other machines. They are also cost-effective and help to cut down on gasoline usage. As the proper operation of these machines and equipment is critical, they ensure it to boost productivity.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2019 - 2014)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

By Category (Mineral Oil, Synthetic, Bio-based), Type (Engine Oil, Grease, Hydraulic Oils, Transformer Oil, Crankcase Oils, Bar and Chain Oil, Others), Raw Material (Petroleum Based Lubricants, Bio-Based Lubricants), Application (Engines, Gear and Transmission, Hydraulics, Greasing, Chain, Implements, Others), Agricultural Equipment (Tractors, Harvesters, Corn-Pickers, Balers, Verge Cutters, Circular Spike Harrows, Stone Grinders, Fertilizer Spreaders, Slurry Tankers, Sprayers, Fodder Mixers, Silage Spreaders, Straw Blowers, Mowers and Mower-Conditioners, Hay Tedders, Hay Rakes, Bale Wrappers, Grape Harvesting Machines, Others)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa

Market Players Covered

Exxon Mobil Corporation (U.S.), Shell (Netherlands), Chevron Corporation ((U.S.), Total Energies (France), BP plc (UK), FUCHS (Germany), Phillips 66 Company (U.S.), Exol Lubricants Limited (UK), Witham Group (UK), Rymax Lubricants (Netherlands), Repsol (Spain), Cougar Lubricants International Ltd (UK), Schaeffer Manufacturing Co. (U.S.), Pennine Lubricants (UK), Frontier Performance Lubricants, Inc. (U.S.) and UNIL (Belgium)

Market Opportunities

  • Increasing number of various market strategies by manufacturers

  • Rising trend of bio-based product especially across developed economies

Agricultural Lubricants Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • Implementation of Subsidies

Government agencies in several nations are implementing the subsidies for farmers. These subsidies are intended to assist farmers in purchasing agricultural equipment like as harvesters, power sprayers, paddy transplanters, threshers, tractors, and other similar items. As a result, more advanced agricultural equipment is being adopted, increasing the demand for agricultural lubricants.

The increasing cost of farm labor will further propel the growth rate of agricultural lubricants market. Additionally, the increase in popularity of high-performance synthetic lubricant and the increasing farm mechanization rates are projected to bolster the market's growth.

Opportunities

  • Rising Trend and Other Strategies

Furthermore, the rising trend of bio-based product especially across developed economies further extends profitable opportunities to the market players in 2022 to 2029. Additionally, the increasing number of various market strategies by manufacturers such as business expansion, joint ventures, acquisition will further expand the future growth of the agricultural lubricants market.

Restraints/Challenges

  • High Costs

The high cost of synthetic and bio-based lubricants is estimated to hamper the growth of the agricultural lubricants market over the forecasted period.

  • Low Awareness

Additionally, the less expenditure on agricultural marketing results in low awareness about agricultural products such as bio-based agricultural lubricants, which will prove to be a demerit for the agricultural lubricants market over the forecasted period. Therefore, this will challenge the agricultural lubricants market growth rate.

This agricultural lubricants market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the agricultural lubricants market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Agricultural Lubricants Market

The recent outbreak of coronavirus had a negative impact on the agricultural lubricants market as due to the implementation of lockdowns in raw material providing countries such as China, the advent of the COVID-19 pandemic impacted the supply chain in the first half of 2020. COVID-19 had little effect on agricultural lubricant demand because agriculture and agricultural-related activities were considered vital services in most countries. Raw material procurement was one of the market competitors' challenges in the first half of 2020. Over the forecast period, the aforementioned determinants will weigh the market's revenue trajectory over the forecast period.

On the brighter side, the market is estimated to revive as individual regulatory bodies begin to relax these enforced lockdowns. The suspended and cancelled operations will continue and as a result the market is estimated to expand.

Global Agricultural Lubricants Market Scope

The agricultural lubricants market is segmented on the basis of category, type, raw material, application and agricultural equipment. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Category 

Type

  • Engine Oil

  • Grease

  • Hydraulic Oils

  • Transformer Oil

  • Crankcase Oils

  • Bar and Chain Oil

  • Others

Raw Material

Application

  • Engines

  • Gear and Transmission

  • Hydraulics

  • Greasing

  • Chain

  • Implements

  • Others

Agricultural Equipment

  • Tractors

  • Harvesters

  • Corn-Pickers

  • Balers

  • Verge Cutters

  • Circular Spike Harrows

  • Stone Grinders

  • Fertilizer Spreaders

  • Slurry Tankers

  • Sprayers

  • Fodder Mixers

  • Silage Spreaders

  • Straw Blowers

  • Mowers and Mower-Conditioners

  • Hay Tedders

  • Hay Rakes

  • Bale Wrappers

  • Grape Harvesting Machines

  • Others

Agricultural Lubricants Market Regional Analysis/Insights

The agricultural lubricants market is analyzed and market size insights and trends are provided by country, category, type, raw material, application and agricultural equipment as referenced above.

The countries covered in the agricultural lubricants market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the agricultural lubricants market because of the presence of major agricultural lubricants manufacturers promoting their products in the market coupled with growing awareness of bio-based products within the region.

On the other hand, North America is estimated to show lucrative growth due to the increasing mechanization in agricultural sector and the development of new and innovative products for the application within the region in the forecast period of 2022 to 2029.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Agricultural Lubricants Market Share Analysis

The agricultural lubricants market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to agricultural lubricants market.

Some of the major players operating in the agricultural lubricants market are

  • Exxon Mobil Corporation (U.S.)

  • Shell (Netherlands)

  • Chevron Corporation (U.S.)

  • Total Energies (France)

  • BP plc (UK)

  • FUCHS (Germany)

  • Phillips 66 Company (U.S.)

  • Exol Lubricants Limited (UK)

  • Witham Group (UK)

  • Rymax Lubricants (Netherlands)

  • Repsol (Spain)

  • Cougar Lubricants International Ltd (UK)

  • Schaeffer Manufacturing Co. (U.S.)

  • Pennine Lubricants (UK)

  • Frontier Performance Lubricants, Inc. (U.S.)

  • UNIL (Belgium)

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Frequently Asked Questions

The Agricultural Lubricants Market is expected to show a value of USD 4.38 billion by 2029.
The Agricultural Lubricants Market is estimated to register a CAGR of 4.70% within the forecast period.
The factors such as increasing cost of farm labor, increase in popularity of high-performance synthetic lubricant along with the increasing farm mechanization rates are the major drivers for the Agricultural Lubricants Market.
The major players operating in the Agricultural Lubricants Market are Exxon Mobil Corporation (U.S.), Shell (Netherlands), Chevron Corporation ((U.S.), Total Energies (France), BP plc (UK), FUCHS (Germany), Phillips 66 Company (U.S.), Exol Lubricants Limited (UK), Witham Group (UK), Rymax Lubricants (Netherlands), Repsol (Spain), Cougar Lubricants International Ltd (UK), Schaeffer Manufacturing Co. (U.S.), Pennine Lubricants (UK), Frontier Performance Lubricants, Inc. (U.S.) and UNIL (Belgium).

Browse Related Reports

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Middle East and Africa Agricultural Lubricants Market – Industry Trends and Forecast to 2029

North America Agricultural Lubricants Market – Industry Trends and Forecast to 2029


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