Global Agricultural Lubricants Markets Report : 2015 Estimates & Projections to 2022

Decrease within the agricultural proletariat in each, developed and rising nations has diode to a rise within the use of farm machinery, like tractors and combines, thereby increasing the demand for lubricants used for such machinery. Agricultural Lubricants Market is projected to achieve USD 2.48 billion by 2022, at a CAGR of 4.8% from 2017 to 2022. Asian countries and conjointly America have inspired farmers to shop for agricultural instrumentality, which, in turn, is resulting in a rise within the demand for agricultural lubricants in these countries.

Decrease within the agricultural proletariat in each, developed and rising nations has diode to a rise within the use of farm machinery, like tractors and combines, thereby increasing the demand for lubricants used for such machinery. Agricultural Lubricants Market is projected to achieve USD 2.48 billion by 2022, at a CAGR of 4.8% from 2017 to 2022. Asian countries and conjointly America have inspired farmers to shop for agricultural instrumentality, which, in turn, is resulting in a rise within the demand for agricultural lubricants in these countries.

Agricultural Lubricants Market is projected to grow at a CAGR of 4.8% from 2017 to 2022

Global Agricultural Lubricants Market is projected to grow from an estimated USD 1.96 billion in 2017 to USD 2.48 billion by 2022, at a CAGR of 4.8% from 2017 to 2022. 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. Government subsidies on farm equipment in countries such as China, India, and the US have encouraged farmers to buy agricultural equipment, which, in turn, is leading to an increase in the demand for agricultural lubricants in these countries.

The engines segment is expected to be the fastest-growing application segment of the agricultural lubricants market during the forecast period

Tractors require diesel engines to pull large and heavy loads, and these engines require to be lubricated with engine oils once or twice a year to enable smooth functioning. Engine oils are used in agricultural equipment to provide wear protection to engines, and provide enhanced performance at extremely high or low temperatures.

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Asia Pacific to account for the largest market share and is expected to be the fastest-growing market for agricultural lubricants during the forecast period

China is the largest market for agricultural lubricants in the Asia Pacific region, in terms of value and volume. It is the world leader in farm output, with its produce comprising rice, wheat, tomato, peanuts, tea, cotton, and soybean. Improved agricultural regulations and policies and use of advanced machinery have helped China in becoming an independent and self-supporting country in terms of agricultural produce.

The Asia Pacific is expected to be the fastest-growing market for agricultural lubricants during the forecast period. Implementation of agricultural policies, such as providing subsidies for agricultural equipment in the region is resulting in an increasing demand for agricultural lubricants.

Profile break-up of primary participants for the report:

- By Company Type: Tier 1 – 42 %, Tier 2 – 25%, Tier 3 – 33%
- By Designation: C level – 33%, Director level – 25%, Others – 42%
- By Region: North America – 44%, Europe – 25%, Asia Pacific – 19%, Middle East & Africa – 6%, South America – 6%

As a part of qualitative analysis, the research provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by market players, such as Chevron (US), ExxonMobil (US), Fuchs Petrolub (Germany), Shell (The Netherlands), Total (France), BP p.l.c. (UK), and Phillips 66 (US).

To browse full research report with TOC, click the link below :
https://www.bharatbook.com/oil-gas-market-research-reports-966901/agricultural-lubricants-type-application-region-global-forecast.html

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Keywords : Agricultural Lubricants, Mineral Oil Lubricants, Synthetic Lubricants, Bio-Based Lubricants, Engines, Gear & Transmission, Hydraulics, Greasing, Implements, petroleum, re-refined, engine oils, process oils, transmission fluids, hydraulic fluids, metalworking fluids, Agricultural Lubricants Market Report, Agricultural Lubricants Market Outlook, #United States, #Australia, #Canada, #United Kingdom,

by Xavier (few years ago!)

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