Market Analysis: Global Agricultural Lubricants Market
The Global Agricultural Lubricants Market accounted for USD 1.20 billion in 2017 and is projected to grow at a CAGR of 4.6% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2015, 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Market Definition: Global Agricultural Lubricants Market
Agriculture lubricants are the lubricants used for the agricultural machinery. The lubricants used help in the proper functioning of the machinery and reduce the wear and tear caused due to friction. There is a growing demand for agricultural lubricants in engines, gear & transmission, hydraulics, greasing and implements, which is expected to be one of the major drivers of the market over the next seven years
Major Market Drivers:
- Increasing labor cost and low availability of agriculture labor
- Increasing mechanization in the agricultural industry
- Subsidies for agricultural equipment
- High cost of synthetic and bio-based lubricants
Market Segmentation: Global Agricultural Lubricants Market
- The agricultural lubricants market is segmented on the basis of type into mineral oil lubricants, synthetic lubricants and bio-based lubricants.
- On the basis of application, the market is segmented into engines, gear & transmission, hydraulics, greasing and implements.
- On the basis of geography, the agricultural lubricants market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Competitive Landscape: Global Agricultural Lubricants Market
The global agricultural lubricants market is fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Major Market Competitors: Global Agricultural Lubricants Market
Some of the major players in agricultural lubricants market ExxonMobil Corporation, Shell, Chevron, INEOS, Total, Chevron BP P.L.C., The Lubrizol Corporation, Fuchs Petrolub, Phillips 66 Company, Exol Lubricants, Witham Oil and Paint, Rymax Lubricants, Cougar Lubricants International, Schaeffer Manufacturing Co., Pennine Lubricants, Frontier Performance Lubricants, Unil Lubricants, Repsol, Lubitec, Callow Oils, Dyade Lubricants, Normac Oils and many more.
Research Methodology: Global Agricultural Lubricants Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.