Agricultural Lubricant Market Precise Outlook- Exxonmobil, Shell, Chevron, Total, Fuchs, BP Plc, Philips 66 Lubricants, Exol Lubricants
The global agricultural lubricant market is expected to witness a CAGR of 4.8% during the forecast period of 2018-2023, driven by the provision of subsidy for agricultural machinery, such as tractors by the Indian and Chinese governments. Increasing mechanization in the agricultural industry is also likely to stimulate the agricultural lubricant market in the coming years
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Market competition by Top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the Top players including-
Exxonmobil, Shell, Chevron, Total, Fuchs, BP Plc, Philips 66 Lubricants, Exol Lubricants, The Witham Group, Rymax Lubricants, Cougar Lubricants International Ltd., Pennine Lubricants, Schaeffer Manufacturing Co., Frontier Performance Lubricants, Inc., Unil, Gulf Oil Lubricants India Ltd., Lubitec, Repsol, Crown Oil.
Market segment by Regions/Countries, this report covers
North America (U.S., Canada, Mexico)
Global (Germany, UK, France, Rest of Global)
Asia Pacific (China, India, Global, Rest of Asia Pacific)
Latin America (Brazil, Argentina, Rest of Latin America)
Middle East & Africa
Machinery Subsidy Driving the Market
The governments of various countries, such as India and China, are providing subsidy on the purchase of agricultural equipment and encouraging farmers to employ modern farming practices at different levels to increase food production. The government of India has announced a Tractor Subsidy Scheme to give 25% subsidy to farmers for tractors, which is likely to drive the agricultural lubricants market.
Heavy Duty Vehicles Making Engines as the Dominating Application
The global agricultural lubricant market, based on the end-user application, can be broadly segmented into engines, gear and transmission, hydraulics, greasing and others. Engines are expected to dominate the agricultural lubricant market, followed by the gear and transmission segment. Engine oils are used to protect against wear in agricultural equipment and to enhance performance at extreme temperatures. The demand for engine application is expected to increase during the forecast period, owing to the increasing use of lubricants in heavy-duty vehicles such as tractors in agriculture and growing mechanization in the agricultural industry in the Asia-Pacific region.
Agricultural Dependency Making Asia-Pacific a Major Market
In terms of consumption, Asia-Pacific held a significant market share in 2017, with around 60% of the countrys people primarily dependent on agriculture for a living. Asia-Pacific is also expected to be an emerging market during the forecast period with the increasing provision of subsidies by the Indian and Chinese governments to help in food sustainability
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In May 2017, Total announced to extend its partnership with CLAAS, which is a major player in agricultural machinery and has a presence in more than 35 countries across the globe.
Major points covered in this research are:-
─Agricultural Lubricant Market Overview, Segment by Type (Product Category), by Application, by Region (2020-2023), Competition by Manufacturers
─Global Market Size (Value) of Agricultural Lubricant (2020-2023)
─Global Agricultural Lubricant Capacity, Production, Revenue (Value), Supply (Production), Consumption, Export, Import by Region (2020-2023)
─Global Agricultural Lubricant Production, Revenue (Value), Price Trend by Type
─Global Agricultural Lubricant Market Analysis by Application
─Global Agricultural Lubricant Manufacturers Profiles/Analysis
─Agricultural Lubricant Manufacturing Cost Analysis
─Industrial Chain, Sourcing Strategy and Downstream Buyers
─Marketing Strategy Analysis, Distributors/Traders
─Market Effect Factors Analysis
─Global Agricultural Lubricant Market Forecast (2020-2023)
─Research Findings and Conclusion
Finally, this Agricultural Lubricant report covers the market scenario and its development prospects over the coming years. Report likewise manages the type analysis, contrasting it with the significant application, recent Agricultural Lubricant product development and gives an outline of the potential Global market.
Irfan Tamboli (Head of Sales) – Market Insights Reports
Phone: + 1704 266 3234
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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