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 country’s 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
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 players include Exxon Mobil Corporation, Shell, Chevron Corporation, Total, and Fuchs Petrolub SE, amongst others.
Reason to Purchase the Report
- To understand the impact of various type and end-user application on the market.
- Analyzing various perspectives of the market with the help of Porter’s Five Forces Analysis.
- Identify the countries expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3-month analyst support along with the Market Estimate sheet (in Excel).
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1.1 Scope of the Report
1.2 Research Phases
1.3 Study Deliverables
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness – Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
4. Market Dynamics
4.1.1 Provision of Subsidy for Agricultural Machinery
4.1.2 Increasing Mechanization in the Agricultural Industry
4.2.1 High Cost of Synthetic and Bio-based Lubricants
4.2.2 Lack of Knowledge Among Small-scale Farmers
4.3.1 Advancements in Biodegradable Lubricants Technology
5. Market Segmentation and Analysis
5.1 By Type
5.1.1 Mineral Oil Lubricants
5.1.2 Synthetic Lubricants
5.1.3 Bio-based Lubricants
5.2 By End-user Application
5.2.2 Gear and Transmission
6. Regional Market Analysis
6.1 North America
6.1.1 United States
6.1.4 Rest of North America
6.2.2 United Kingdom
6.2.6 Rest of Europe
6.3.4 South Korea
6.3.5 Rest of Asia-Pacific
6.4 South America
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.3 Rest of Middle East & Africa
7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials**, Products & Services, Recent Developments)
8.1 BP PLC
8.3 Cougar Lubricants International Ltd
8.4 Crown Oil
8.5 Exol Lubricants
8.6 Exxon Mobil Corp.
8.7 Frontier Performance Lubricants, Inc.
8.9 Gulf Oil Lubricants India Ltd
8.11 Pennine Lubricants
8.12 Philips 66 Lubricants
8.14 Rymax Lubricants
8.15 Schaeffer Manufacturing Co.
8.17 The Witham Group
*List not Exhaustive
9. Future of the Market
**Subject to Availability of Public Domain
- 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.
- Gulf Oil Lubricants India Ltd.
- Crown Oil.