세계의 농업용 윤활유 시장 예측(-2028년) : 유형별, 농기구별, 용도별, 지역별 분석

According to Stratistics MRC, the Global Agricultural Lubricants Market is accounted for $3.13 billion in 2022 and is expected to reach $4.84 billion by 2028 growing at a CAGR of 7.5% during the forecast period. Agricultural lubricants are lubricants used in agricultural equipment to extend the life of machines and equipment. They are employed in a variety of machinery, including harvesters, tractors, and verge cutters. They are also cost-effective and help to reduce petrol consumption. They ensure the proper running of various devices and equipment because it is vital to productivity.

According to the Indian Brand Equity Foundation, 58% of the total population in India is farmers. Thus, there is a great market for tractors in India.

Market Dynamics:

Driver:

Subsidy implementation

Farmers subsidies are being implemented by government agencies in a number of countries. These subsidies are designed to help farmers buy agricultural equipment like as harvesters, power sprayers, paddy transplanters, threshers, tractors, and other similar things. As a result, more modern agricultural equipment is being used, which raises the demand for agricultural lubricants. The rising cost of farm labour will accelerate the growth of the agricultural lubricants market. Furthermore, the growing popularity of high-performance synthetic lubricants and rising farm mechanisation rates are expected to drive market expansion.

Restraint:

Low awareness and High cost

Due to the lower agricultural marketing investment leads in lower knowledge of agricultural products such as bio-based agricultural lubricants, which will be a detriment to the agricultural lubricants market throughout the anticipated period. As a result, the agricultural lubricants market growth rate would be challenged. Furthermore, the high cost of synthetic and bio-based lubricants is expected to hinder the agricultural lubricants market's expansion throughout the anticipated period.

Opportunity:

Increasing popularity of biodegradable lubricants

Biodegradable lubricating oils have been existed for a long time, although interest has recently increased, owing mostly to market conditions and laws. Many lubricants, including classic mineral oils, are inherently biodegradable. This means that, given enough time, they will deteriorate. They offer superior lubricant than mineral oil, a higher viscosity index than mineral and synthetic oils, a higher flash point than mineral and synthetic oils, and are less hazardous and easily biodegradable. In addition, the growing popularity of bio-based products, particularly in industrialised economies, expands economic potential.

Threat:

Environmental consequences of lubricants released into the environment

Lubricating oil is emitted into the atmosphere in the form of oil mist and micro-drops, posing a severe threat to the environment. The structure, volume, and frequency of emissions in a specific area, as well as the features of an open cutting tool, all have an impact on the intensity and impacts of oil derivative interactions. Petroleum derived oil creates main dangers in the natural environment for sawing operators, as well as secondary hazards owing to oil accumulation in plants, animals, and groundwater difficulties. Lubricants can potentially be a major danger to aquatic ecosystems. Its contamination with oil-based lubricants is hazardous and has a negative impact on biological life, potentially impeding the agricultural lubricants market.

COVID-19 Impact:

The corona virus epidemic had a negative influence on the agricultural lubricants market because, due to the deployment of lockdowns in raw material-supplying nations such as China, the COVID-19 pandemic disrupted the supply chain in the first half of 2020. COVID-19 had little impact on agricultural lubricant demand because agriculture and agricultural-related activities were regarded as essential services in the majority of countries. In the first half of 2020, raw material procurement was one of the market rivals challenges. The aforementioned determinants will affect the market's revenue trajectory during the forecast period.

The Bio-based segment is expected to be the largest during the forecast period

The Bio-based segment is estimated to have a lucrative growth; due to plant-derived materials such as rapeseed, canola, sunflower, soybean, palm, and coconut are used to make bio-based lubricants. Excellent lubrication, low friction coefficients, low evaporation rate, greater flash point, and high viscosity index are some of the key and advantageous qualities of bio-based lubricants. Aside from microwave-based grease processing technologies, they are also working to improve the chemistry of vegetable oil-based greases. Bio-based lubricants are normally more expensive than mineral base oils, but in many circumstances, the extra expense might be justified if there are recognised environmental conditions thus enhancing the market growth.

The engines segment is expected to have the highest CAGR during the forecast period

The engines segment is anticipated to witness the fastest CAGR growth during the forecast period, due to commonly use lubricate internal combustion engines. Engine oils are used in tractors, harvesters, other forage equipment in the agricultural sector to save maintenance, providing greater wear and corrosion protection, higher engine durability, better fuel efficiency, and so on. This huge share might be attributable to the global expansion of the farm tractor market. Each tractor has at least one engine, and each engine has an oil consumption capacity of two to three litres. No other component of the tractor uses this much lubrication as a result, the engines application category accounts for the majority of the agricultural lubricants market.

Region with highest share:

Asia Pacific is projected to hold the highest market share during the forecast period owing to strong demand from China and India. China is the region's and the world's largest lubricant consumer. Despite the poor growth of the economy, the country's consumption rate is predicted to remain constant. The country's government is pursuing a variety of steps to support and modernise the local agricultural equipment business. Furthermore, agricultural productivity and farm mechanisation are strongly linked. The use of appropriate equipment increases agricultural productivity hence all the above factors drive the growth of the market in this region.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to organising more complex tractors machines that use AI for decision-making. The demand for agricultural lubricants is substantial, and advanced users of machinery are driving demand for replacement components, which is projected to boost regional market growth. Growth in farm income, international food commodity prices, government support to increase productivity, and private investments in agriculture have created optimism in the North American agriculture landscape, which is expected to increase farm mechanisation and demand for agricultural lubricants in the region.

Key players in the market:

Some of the key players profiled in the Agricultural Lubricants Market include: Chevron Corporation, Phillips 66 Company, Witham Group, Shell, Exxon Mobil Corporation, Total Energies, Rymax Lubricants, Cougar Lubricants International Ltd, Pennine Lubricants, Frontier Performance Lubricants, Inc, Schaeffer Manufacturing Co, Repsol, FUCHS, BP plc, UNIL, Normac Oils Ltd, Royal Dutch Shell PLC, Claas KGaA mbH, Gulf Oil International and Morris Lubricants

Key Developments:

In March 2023, Chevron, Corteva Agriscience and Bunge announce collaboration to produce winter canola to meet growing demand for lower carbon renewable fuels, The companies plan to introduce the winter canola crop into the southern United States with an intention to create a new revenue opportunity for farmers with a sustainable crop rotation.

In Jan 2023, Chevron, Raven SR and Hyzon Motors collaborate to produce hydrogen from green waste in northern California, to commercialize operations of a green waste-to-hydrogen production facility in Richmond intended to supply hydrogen fuel to transportation markets.

In April 2021, Rymax Lubricants expands to 13 new countries in 2020, Rymax Lubricants holds an effective Marketing strategy which was initiated in 2019, a very driven Sales team and a service orientated Logistics department responsible for the companies' growth.

Types Covered:

• Synthetic
• Bio-based
• Mineral Oil
• Transmission and Hydraulic Fluid
• Other Types

Agricultural Equipments Covered:

• Tractors
• Fertilizer Spreaders
• Harvesters
• Corn-Pickers
• Straw Blowers
• Sprayers
• Stone Grinders
• Fodder Mixers
• Verge Cutters
• Mowers and Mower-Conditioners
• Other Agricultural Equipments

Applications Covered:

• Greasing
• Implements
• Hydraulics
• Engines
• Gears & Transmission
• Transformer Oil
• Other Applications

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Application Analysis
• 3.7 Emerging Markets
• 3.8 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Agricultural Lubricants Market, By Type

• 5.1 Introduction
• 5.2 Synthetic
• 5.3 Bio-based
• 5.4 Mineral Oil
• 5.5 Transmission and Hydraulic Fluid
• 5.6 Other Types

6 Global Agricultural Lubricants Market, By Agricultural Equipment

• 6.1 Introduction
• 6.2 Tractors
• 6.3 Fertilizer Spreaders
• 6.4 Harvesters
• 6.5 Corn-Pickers
• 6.6 Straw Blowers
• 6.7 Sprayers
• 6.8 Stone Grinders
• 6.9 Fodder Mixers
• 6.10 Verge Cutters
• 6.11 Mowers and Mower-Conditioners
• 6.12 Other Agricultural Equipments

7 Global Agricultural Lubricants Market, By Application

• 7.1 Introduction
• 7.2 Greasing
• 7.3 Implements
• 7.4 Hydraulics
• 7.5 Engines
• 7.6 Gears & Transmission
• 7.7 Transformer Oil
• 7.8 Other Applications

8 Global Agricultural Lubricants Market, By Geography

• 8.1 Introduction
• 8.2 North America
  • 8.2.1 US
  • 8.2.2 Canada
  • 8.2.3 Mexico
• 8.3 Europe
  • 8.3.1 Germany
  • 8.3.2 UK
  • 8.3.3 Italy
  • 8.3.4 France
  • 8.3.5 Spain
  • 8.3.6 Rest of Europe
• 8.4 Asia Pacific
  • 8.4.1 Japan
  • 8.4.2 China
  • 8.4.3 India
  • 8.4.4 Australia
  • 8.4.5 New Zealand
  • 8.4.6 South Korea
  • 8.4.7 Rest of Asia Pacific
• 8.5 South America
  • 8.5.1 Argentina
  • 8.5.2 Brazil
  • 8.5.3 Chile
  • 8.5.4 Rest of South America
• 8.6 Middle East & Africa
  • 8.6.1 Saudi Arabia
  • 8.6.2 UAE
  • 8.6.3 Qatar
  • 8.6.4 South Africa
  • 8.6.5 Rest of Middle East & Africa

9 Key Developments

• 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 9.2 Acquisitions & Mergers
• 9.3 New Product Launch
• 9.4 Expansions
• 9.5 Other Key Strategies

10 Company Profiling

• 10.1 Chevron Corporation
• 10.2 Phillips 66 Company
• 10.3 Witham Group
• 10.4 Shell
• 10.5 Exxon Mobil Corporation
• 10.6 Total Energies
• 10.7 Rymax Lubricants
• 10.8 Cougar Lubricants International Ltd
• 10.9 Pennine Lubricants
• 10.10 Frontier Performance Lubricants, Inc
• 10.11 Schaeffer Manufacturing Co
• 10.12 Repsol
• 10.13 FUCHS
• 10.14 BP plc
• 10.15 UNIL
• 10.16 Normac Oils Ltd
• 10.17 Royal Dutch Shell PLC
• 10.18 Claas KGaA mbH
• 10.19 Gulf Oil International
• 10.20 Morris Lubricants