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Agricultural Lubricants - Global Market Trajectory & Analytics

  • ID: 4804490
  • Report
  • April 2021
  • Region: Global
  • 289 pages
  • Global Industry Analysts, Inc
Global Agricultural Lubricants Market to Reach $2.6 Billion by 2027

Amid the COVID-19 crisis, the global market for Agricultural Lubricants estimated at US$2.1 Billion in the year 2020, is projected to reach a revised size of US$2.6 Billion by 2027, growing at a CAGR of 3.3% over the analysis period 2020-2027. Mineral Oil Lubricants, one of the segments analyzed in the report, is projected to record a 3.2% CAGR and reach US$1.8 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Synthetic Lubricants segment is readjusted to a revised 2.9% CAGR for the next 7-year period.



The U.S. Market is Estimated at $561.1 Million, While China is Forecast to Grow at 6% CAGR

The Agricultural Lubricants market in the U.S. is estimated at US$561.1 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$538.6 Million by the year 2027 trailing a CAGR of 6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.9% and 2.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.6% CAGR.

Bio-Based Lubricants Segment to Record 4.8% CAGR

In the global Bio-Based Lubricants segment, USA, Canada, Japan, China and Europe will drive the 4.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$110.7 Million in the year 2020 will reach a projected size of US$148.1 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$363.1 Million by the year 2027, while Latin America will expand at a 5.8% CAGR through the analysis period.

Select Competitors (Total 46 Featured):
  • BP PLC
  • Chevron Corporation
  • Cougar Lubricants International Ltd.
  • Exol Lubricants Ltd.
  • ExxonMobil Chemical Company
  • Frontier Performance Lubricants, Inc.
  • Fuchs Petrolub SE
  • Pennine Lubricants Ltd.
  • Phillips 66 Company
  • Rymax Lubricants
  • Schaeffer Manufacturing Company
  • Shell International B.V.
  • Total Oil India Pvt. Ltd.
  • Unil Lubricants NV
  • Witham Oil and Paint Ltd.
Note: Product cover images may vary from those shown
I. METHODOLOGY

II. EXECUTIVE SUMMARY
  • Influencer Market Insights
  • World Market Trajectories
  • Agricultural Lubricants: An Introductory Prelude
  • Bright Prospects Ahead for Agricultural Lubricants Market
  • Sustained Increase in the Use of Agricultural Machinery & Equipment Creates Robust Growth Opportunities
  • Prevailing Scenario in the World Agriculture Industry Strongly Supports Wider Deployment of Machines & Equipment in Farmlands
  • Labor Shortage Issues
  • Exhibit 1: Number of People Employed in Agriculture Sector in Select Countries for the Years 1980, 2000 & 2015
  • Rising Food Security Concerns
  • Exhibit 2: Food Demand (in Million Tonnes) for Cereals, VegeTable Oil and Sugar in Select Regions for the Period 2008-17 and 2018-27
  • Expanding Population & Declining Per Capita Arable Land
  • Exhibit 3: World Population to Reach 8.5 Billion by 2030 and to 9.7 Billion by 2050: Global Population Figures for Years 1990, 2015, 2030, 2050 & 2100
  • Exhibit 4: Per Capita Arable Land (in Hectares) in Developed and Developing Regions for the Years 2000, 2010, 2020, 2030 & 2050
  • Impact of Covid-19 and a Looming Global Recession
  • Indispensable Nature of Tractors in Modern Day Farming: Primary Market Driver for Agricultural Lubricants
  • Lubricant Application Extremely Relevant for Farm Tractor Efficiency
  • Types of Farm Tractor Lubricants: A Review
  • While Farm Tractor Constitutes the Leading Lubricant Consumer, Other Types of Agri Machinery also Gulp Sizeable Volumes of Lubricants: A Review of Select Widely Used Agri Machinery
  • Harvesting Machinery
  • Sowing & Planting Machines
  • Grain Drilling Machinery
  • Harrows
  • Tillers
  • Sprayers
  • Mineral Oil Lubricants Remains the Largest Product Category
  • Synthetic Lubricants Seek to Widen Audience Base
  • Bio-Based Lubricants Set for Fast Paced Growth
  • Grease, the Most Forgiving of All Agricultural Lubricants, Steers Overall Demand
  • Growing Use of Grease in Preventive Maintenance of Agri Machinery
  • Agri Lubricants Market to Gain from Growing Awareness about Benefits of Proper Maintenance of Agri Equipment
  • Right Lubrication Practices Extend Equipment Life While Minimizing Unplanned Downtime
III. MARKET ANALYSIS

IV. COMPETITION
  • Total Companies Profiled: 46
Note: Product cover images may vary from those shown
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