Global Agriculture Lubricants Market Size and Share Analysis 2023-2028
- Ulat sa Market
- ID: VAR821GM
- Oras ng Paghahatid: 1 Araw ng Negosyo
- Tag: Agriculture Lubricants
Pangkalahatang ideya ng Market
The global Agricultural Lubricants Market is expected to witness an increase in size from 1477.64 kilo tons in 2022 sa 1770.44 kilo tons in 2028, with a compounded annual growth rate (CAGR) ng mga 3.13% mula sa 2023 sa 2028.
The market is driven by several major factors. Firstly, the provision of subsidies for farm machinery by the Indian and Chinese governments has played a significant role in driving market growth. Dagdag pa, increasing rates of farm mechanization in developing countries have contributed to market expansion. Gayunpaman, the high cost of synthetic and bio-based lubricants is expected to hinder the growth of the market.
Uri ng Produkto | Pananaliksik sa Market |
---|---|
Mga Pahina | 187 |
Petsa ng Paglabas | Marso 2023 |
Taon ng Base | 2022 |
Panahon ng Pagtataya | 2023-2028 |
Laki ng Market | 1477.6 libong tonelada sa 2021 |
Mga Segment ng Market | Uri ng Produkto, Rehiyon |
Rehiyon | Global |
Hindi. ng mga Kumpanyang Nabanggit | 22 |
Farm machinery, including heavy-duty vehicles such as tractors, field cultivators, seeders, and planters, are essential for agriculture-related tasks. These sophisticated machines operate in demanding and hazardous environments, and thus, undergo significant wear and tear. Inadequate maintenance can lead to malfunctions and disruptions in farm operations. Regular servicing and the use of lubricants, such as engine oil, gear oil, and hydraulic oils, are vital for the maintenance and longevity of agricultural equipment. High-quality lubricants ensure proper engine lubrication, safeguarding its long-term operation.
Farm mechanization involves the use of machinery to carry out agricultural tasks without human or animal assistance. This process significantly enhances the productivity of farmers by improving operational timeliness and job quality. It reduces labor-intensive tasks, improves cropping intensity and precision in input placement, and minimizes losses in crop production stages. The adoption of farm mechanization aims to increase output and productivity while reducing production costs.
Traditionally, agriculture has heavily relied on human labor. Gayunpaman, labor shortages and rising labor costs have prompted the industry to seek alternative approaches, equipment, and products. Factors such as supply chain bottlenecks, salary increases, freight rates, and raw material costs have contributed to the rising cost of farm labor. To address this challenge, agriculture is increasingly adopting equipment and technologies to supplement traditional labor.
The growing prominence of biodegradable lubricants presents an opportunity for market growth in the future. Within the Agricultural Lubricants Market, the engine oil segment holds the largest market share, accounting for over 45%. This segment is expected to maintain a healthy CAGR during the forecast period.
Market Segmentation
Ang merkado ay segmented batay sa iba't ibang mga kadahilanan, including product type and region.
Segmentation by Product Type
Engine Oil
Transmission and Hydraulic Fluid
Grease
Other Product Types
Segmentasyon ayon sa Rehiyon
Hilagang Amerika – Estados Unidos, Canada, and Mexico
Europa – Reyno Unido, Alemanya, Pransiya, Italya, Espanya, and Rest of Europe
Asia-Pacific – Tsina, Hapon, India, Timog Korea, and Rest of Asia-Pacific
Pahinga ng Mundo
Engine oils are commonly used to lubricate internal combustion engines and typically consist of 75-90% base oils and 10-25% additives. They serve various purposes, including reducing wear, protecting against corrosion, and ensuring smooth operation of engine internals. By creating a thin film between moving parts, they facilitate heat transfer and minimize friction when these parts come into contact.
In the agricultural sector, engine oils are essential for tractors, harvesters, and forage equipment. They play a crucial role in reducing maintenance, providing enhanced wear and corrosion protection, ensuring higher engine reliability, and promoting better fuel efficiency. Prominent lubricant manufacturers such as Royal Dutch Shell, Total, CONDAT Group, Schaeffer Manufacturing Co., and Chevron Lubricants offer a range of engine oils specifically designed for agricultural equipment.
Leading vendors in the industry are investing in research and development to develop innovative equipment and maintain a strong foothold in the tractor market. Companies like Case IH and New Holland have introduced autonomous tractors. Other manufacturers in this segment include Deere & Kumpanya, AGCO, Claas, and Versatile.
The usage of battery power for agricultural vehicles is projected to increase in the coming years due to recent innovations that improve productivity and lower costs. These factors are expected to impact the market for engine oil in the agriculture industry.
In terms of regional dominance, Asia-Pacific holds the largest market share with over 50%, followed by North America. The robust demand from China and India is a significant driving factor for the market. Tsina, being the largest lubricant consumer globally, is expected to maintain consistent consumption despite slower economic growth. With approximately 7% of the global agricultural acreage, China feeds 22% ng populasyon ng mundo. The country is also a major producer of crops such as rice, cotton, potatoes, and vegetables, making agricultural machinery crucial for agricultural modernization. The Chinese government is actively supporting and modernizing the domestic agricultural equipment sector by integrating the industry, developing technologically advanced products, and promoting joint R&D facilities with foreign companies. This stimulates the growth of the agricultural machinery industry and creates demand for agricultural lubricants.
Dagdag pa rito, there is a strong correlation between agricultural productivity and farm mechanization. The proper use of equipment can increase agricultural productivity by up to 30% and reduce costs by approximately 20%. The farm equipment market in India, for example, is projected to grow at a CAGR of 7.5% mula sa 2015 sa 2022. India’s agricultural equipment market consists of domestically manufactured and imported equipment, with major products including power tillers, tractors, threshers, combine harvesters, and multi-crop planters. Tractors account for over 80% of the overall agricultural equipment sold in India.
These factors collectively contribute to the growing demand in the agricultural lubricants market.
Mapagkumpitensya na Landscape
Shell plc holds the dominant position as the leader in the Global Agricultural Lubricant market. This is attributed to the company’s extensive portfolio of agricultural lubricant products, coupled with its highly competitive marketing and advertising strategies aimed at enhancing global market penetration.
Key Companies Profiled in this report include BP PLC, Chevron Lubricants, Claas KGaA mbH, CONDAT Group, Cougar Lubricants International Ltd, Exol Lubricants Limited, Exxon Mobil Corporation, Frontier Performance Lubricants, Fuchs Petrolub SE, Gulf Oil International, Lubrication Engineers, Morris Lubricants, Normac Oils Ltd, Pennine Lubricants, Phillips 66, Repsol, Royal Dutch Shell PLC, Rymax Lubricants, Schaeffer Oil, Total SA, Unil Lubricants, Witham Oil and Paint.
Mga Kamakailang Pag unlad ng Industriya
In January 2023, Goodyear Lubricants made a notable debut by introducing a fresh lineup of motor oil in the Indian market. In collaboration with The Goodyear Tire & Rubber Company, Assurance International proudly unveiled this new range of lubricants with the aim of expanding their sales reach to the lucrative markets of South Asia, Timog Silangang Asya, Australia, and New Zealand.
Dagdag pa rito, in March 2021, Morris Lubricants, based in the United Kingdom, took a significant step forward by launching an innovative and sophisticated line of multifunctional lubricants explicitly tailored to cater to a wide range of agricultural needs. This strategic initiative was undertaken by Morris Lubricants with the primary objective of prospering within the highly competitive agriculture industry.
Mga Mahahalagang Tanong na Nasagot
Ano ang tagal ng panahon ng pag aaral para sa merkado na ito?
What is the rate of growth for the Agriculture Lubricants Market?
Which region exhibits the highest growth rate in the Agriculture Lubricants Market?
Which region holds the largest market share in the Agriculture Lubricants Market?
Who are the prominent players in the Agriculture Lubricants Market?
USD 4,750 Orihinal na presyo ay: USD 4,750.USD 2,850Ang kasalukuyang presyo ay: USD 2,850.