The global agricultural lubricants market refers to the industry dedicated to manufacturing and supplying lubricants specifically designed for use in agricultural machinery and equipment. These lubricants play a crucial role in ensuring the smooth operation and longevity of various farm machinery, such as tractors, harvesters, and other equipment involved in planting and harvesting processes. The market encompasses a wide range of lubricant products formulated to withstand the challenging conditions of agricultural operations, including exposure to dust, dirt, and extreme temperatures.
Access Full Report @ https://www.databridgemarketresearch.com/pt/reports/global-agricultural-lubricants-market
Data Bridge Market Research analyses that the Global Agricultural Lubricants Market which was USD 3.17 billion in 2022, is expected to reach USD 4.59 billion by 2030, and is expected to undergo a CAGR of 4.72% during the forecast period of 2023 to 2030. The global surge in mechanized farming is fueling a heightened demand for agricultural lubricants. Essential for maintaining peak performance and extending machinery lifespan, these lubricants play a pivotal role in sustaining the efficiency of modern, mechanized agricultural practices on a worldwide scale.
Key Findings of the Study
Global food demand is expected to drive the market's growth rate
The rising global population and subsequent rise in food demand propel a need for intensified agricultural practices. This necessitates highly efficient lubrication solutions to ensure the seamless operation of machinery, thereby supporting increased productivity in the agricultural sector. As farmers strive to meet growing demands, reliable lubricants become crucial for sustaining and enhancing the performance of agricultural equipment, contributing to the overall efficiency and success of the intensified and modernized food production processes worldwide.
Report Scope and Market Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2023 to 2030
|
|
Base Year
|
2022
|
|
Historic Years
|
2021 (Customizable to 2015-2020)
|
|
Quantitative Units
|
Revenue in USD Billion, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
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, and 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 (U.K.), FUCHS (Germany), Phillips 66 Company (U.S.), Exol Lubricants Limited (U.K.), Witham Group (U.K.), Rymax Lubricants (Netherlands), Repsol (Spain), Cougar Lubricants International Ltd (U.K.), Schaeffer Manufacturing Co. (U.S.), Pennine Lubricants (U.K.), Frontier Performance Lubricants, Inc. (U.S.) and UNIL (Belgium)
|
|
Data Points Covered in the Report
|
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
|
Segment Analysis:
The global agricultural lubricants market is segmented on the basis of category, type, raw material, application, and agricultural equipment.
- On the basis of category, the global agricultural lubricants market is segmented into mineral oil, synthetic, and bio-based
- On the basis of type, the global agricultural lubricants market is segmented into engine oil, grease, hydraulic oils, transformer oil, crankcase oils, bar and chain oil, and others
- On the basis of raw material, the global agricultural lubricants market is segmented into petroleum based lubricants, bio-based, and lubricants
- On the basis of application, the global agricultural lubricants market is segmented into engines, gear and transmission, hydraulics, greasing, chain, implements, and others
- On the basis of agricultural equipment, the global agricultural lubricants market is segmented into 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, and others
Major Players
Data Bridge Market Research recognizes the following companies as the major global agricultural lubricants market players in global agricultural lubricants market are Exxon Mobil Corporation (U.S.), Shell (Netherlands), Chevron Corporation (U.S.), Total Energies (France), BP plc (U.K.), FUCHS (Germany), Phillips 66 Company (U.S.), Exol Lubricants Limited (U.K.), Witham Group (U.K.)
Market Developments
- In March 2023, ExxonMobil unveiled plans for a INR 900 crore (USD 110 million) investment in a new lubricant manufacturing plant in Raigad, India. Operational by end-2025, the facility aims to produce 159,000 kiloliters of lubricants annually. Aligned with India's "Make in India" initiative, the plant emphasizes local sourcing, fostering job creation with around 1,200 positions during construction. This strategic move reinforces ExxonMobil's dedication to delivering high-performance lubricants, including those vital for the agricultural sector, addressing India's burgeoning industrial and automotive demands
- In August 2022, Phillips 66 submitted a non-binding proposal to acquire all publicly held common units of DCP Midstream for cash. The proposal, offering USD 34.75 per outstanding publicly-held common unit of DCP Midstream, outlines a merger structure where DCP Midstream would merge with an indirect subsidiary of Phillips 66, with DCP Midstream surviving. The proposal reflects Phillips 66's strategic move to consolidate and enhance its position in the energy sector through this potential acquisition
- In March 2022, HollyFrontier Corporation and Holly Energy established HF Sinclair Corporation, marking a strategic move. The subsequent acquisition of Sinclair Oil Corporation and Sinclair Transportation Company significantly bolsters the company's lubricants business. This development aims to fortify its position in the fiercely competitive market, amplifying its capabilities and market share. The integration of Sinclair's assets aligns with HollyFrontier's commitment to expanding its presence and influence within the lubricants sector, anticipating positive outcomes in the dynamic business landscape
- In March 2020, Eni S.p.A achieved business expansion by successfully constructing a gas pipeline in Algeria's Berkine Basin, specifically in the Bir Rebaa Nord (BRN) and Menzel Ledjmet Est (MLE) fields. This strategic development enhances Eni's operational footprint and positions the company for increased revenue. The newly established gas infrastructure in this region is anticipated to play a pivotal role in supporting Eni's business growth and future revenue generation
Regional Analysis
Geographically, the countries covered in the global agricultural lubricants market report are 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, and Rest of Middle East and Africa
As per Data Bridge Market Research analysis:
Asia-Pacific is the dominant region in global agricultural lubricants market during the forecast period 2023-2030
The Asia-Pacific region dominates the agricultural lubricants market due to the influence of key manufacturers promoting their products. The market dominance is further propelled by a heightened awareness of bio-based products in the region. As major agricultural lubricant manufacturers actively promote their offerings, coupled with the increasing recognition of bio-based alternatives, Asia-Pacific stands as a dominant force in the agricultural lubricants market, reflecting a convergence of industry leadership and a growing preference for sustainable solutions within the region.
North America is estimated to be the fastest-growing region in the global agricultural lubricants market for the forecast period 2023-2030
North America is expected to dominate the agricultural lubricants market, registering the highest growth rate from 2023 to 2030. This dominance is attributed to the escalating mechanization in the agricultural sector and the continuous development of new, innovative products tailored for regional applications. As the region embraces advanced farming technologies, the demand for specialized lubricants is anticipated to surge, further enhancing the overall growth and efficiency of the agricultural machinery sector in the forecast period.
For more detailed information about the global agricultural lubricants market report, click here – https://www.databridgemarketresearch.com/pt/reports/global-agricultural-lubricants-market
