Agricultural Lubricants Market Size, Share, Growth Forecast 2024-2031
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
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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.
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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.
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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 :
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Pennine Lubricant Limited
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Cougar Lubricant International Ltd
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Frontier Performance Lubricant, Inc
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Exxon Mobil Corporation
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Exol Lubricant Limited
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Witham Oil & Paint Ltd
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Rymax Lubricant
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Repsol SA
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Royal Dutch Shell Plc
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Chevron Corporation
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Total SA
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BP plc
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FUCHS PETROLUB SE
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Phillips 66
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Unil Lubricant
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Schaeffer Manufacturing Co
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