Agricultural Lubricant Market summary
The Global Agricultural Lubricant Market is projected to grow at a CAGR of 5% from 2024 to 2031.
Agricultural lubricants are crucial for ensuring the smooth operation and maintenance of farming equipment. They facilitate ease of use and enhance the performance of machinery, which is often subjected to demanding terrains and changing weather conditions. Agricultural lubricants offer numerous benefits, including equipment protection, improved temperature control, extended machinery lifespan, increased efficiency and reliability, and reduced downtime and maintenance costs.
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Agricultural Lubricant Market Trends
Rising Demand for Agricultural Machinery: The need for efficient farming operations drives the demand for agricultural machinery and equipment. These machines require high-quality lubricants to perform optimally, reduce labor costs, and protect against rust and corrosion.
Eco-Friendly Chemical Investments: There is a surge in investments within the chemical industry aimed at developing eco-friendly agricultural lubricants. This trend is driven by the growing awareness of environmental sustainability and the need for greener alternatives.
European Agricultural Machinery Production: According to the European Agricultural Machinery Association (CEMA), countries like Germany, Italy, France, the United Kingdom, and the Netherlands are significant producers of agricultural machinery. In 2017, Europe’s total production of agricultural machinery was valued at approximately USD 45 billion, reflecting a 6.4% increase compared to 2016.
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Agricultural Lubricant Market is segmented
By Type ;Greases, Engine Oil, Round-Baler Chain Oils, HM/HV Hydraulic Fluids, Gardening Oils, Mineral Oil, Synthetic Oil, Gearbox Oil, Others
By Viscosity Grade :10W-30, 10W-40, 15W-40, 20W-50, Others
By Application :Engines, Hydraulics, Gears & Transmission, Grease, Implements, Others
End-User :Tractors, Harvesters, Shedders, Balers, Verge cutters, Heavy-duty vehicles, Fodder mixers, Farm Equipments & Machinery, Others
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Key players are :
Pennine Lubricant Limited
Cougar Lubricant International Ltd
Frontier Performance Lubricant, Inc
Exxon Mobil Corporation
Exol Lubricant Limited
Witham Oil & Paint Ltd
Rymax Lubricant
Repsol SA
Royal Dutch Shell Plc
Chevron Corporation
Total SA
BP plc
FUCHS PETROLUB SE
Phillips 66
Unil Lubricant
Schaeffer Manufacturing Co
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